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CRUSHMETRIC Group Limited announced interim results for the six months ended 30 September 2025, reporting revenue of HK$2,095,815, a gross profit of HK$1,413,576, and a loss of HK$6,116,428, with basic and diluted loss per share of HK$0.02. The company also successfully registered a patent with the Japan Patent Office for "Deformable Sleeve Having Elastic Core Structure". Additionally, its subsidiary, CRUSHMETRIC eCommerce (HK) Limited, signed a two-year tenancy agreement on September 16, 2025, and the Group held an exhibition in Tokyo, Japan, from March 25 to April 30, 2025.
| Date | 31 Dec 2025 |
| Time | 07:00:07 |
| Category | Miscellaneous |
| ID | 2032N |
31 December 2025
CRUSHMETRIC Group Limited
("CRUSHMETRIC", the "Group" or the "Company")
Interim results for the six months ended 30 September 2025
Chief Executive Officer's Statement
CRUSHMETRIC Group Limited (AQSE: CUSH), the AQUIS Growth Market Stock Exchange quoted consumer design and production group announces the results of the Company and its subsidiaries for the six-month period ended 30 September 2025.
The nature of the Company's operations and its principal activities are to act as the holding company of a group engaged in (i) design and production that integrates shape changing technology ("CRUSH") into a catalogue of products that is designed and invented by the artist and co-founder of CRUSHMETRIC Limited, Noah Deledda, and his team. This technology is built on his own series of dented aluminium can sculptures and (ii) the sale and distribution of the CRUSHMETRIC products through online and offline channels worldwide.
This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
Financial highlights
· Revenue for the six months ended 30 September 2025: HK$2,095,815 (30 June 2024: HK$2,942,844)
· Gross profit for the six months ended 30 September 2025: HK$1,413,576 (30 June 2024: HK$2,151,571)
· Loss for the six months ended 30 September 2025: HK$6,116,428 (30 June 2024: HK$3,701,514)
· The basic and diluted loss per share for the six months ended 30 September 2025: HK$0.02 (30 June 2024: HK$0.01)
· The Group's cash position as at 30 September 2025: HK$130,606 (30 June 2024: HK$174,535)
Review of significant activities
(a) Renewal of Convertible Bond: Principal Amount USD650,000
The Company is in the process of negotiating the renewal terms of this CB. This CB will be renewed with similar terms as past years. All other terms remain unchanged.
(b) Patent
In addition to the Patent registered in the People's Republic of China, the Company has successfully registered with the Japan Patent Office with the Invention title "Deformable Sleeve Having Elastic Core Structure".
(c) Japan Exhibition
The Company -held a special exhibition entitled "HOSOTEN Destruction & Creation: The World of Aluminium Can Art" in collaboration with the Museum of Package Culture operated by Toyo Seikan Group ("Toyo"), from March 25 to April 30, 2025 in Tokyo, Japan. This special exhibition was inspired by the coincidental shapes of the diamond-cut cans manufactured by Toyo and the SwitchPen from CRUSHMETRIC.
(d) New Tenancy Agreement
On 16 September 2025, one of the Group's subsidiaries, CRUSHMETRIC eCommerce (HK) Limited signed a tenancy agreement with two years fixed terms for a new office located in Hong Kong.
Financial review
(i) Income statement items
The Group's revenue for the six months ended 30 September 2025 amounted to HK$2,095,815, a decrease of HK$847,029 or 29% as compared to the six months ended 30 June 2024. It mainly included sales of CRUSHMETRIC products. The Group's gross profits and gross profit margin for the six months ended 30 September 2025 amounted to HK$1,413,576 and 67.45% (30 June 2024: HK$2,151,571 and 73.11%) respectively.
The Group's distribution costs for the six months ended 30 September 2025 amounted to HK$2,338,403, an increase of HK$245,453 or 11.7% as compared to the same period in 2024. The amount mainly consists of around $2.26 million for events and advertising to promote the Company's products. The Group's administrative expenses for the six months ended 30 September 2025 amounted to HK$4,920,682, an increase of HK$1,597,404 or 48.07% as compared to the six months ended 30 June 2024.
The Finance Costs for the six months ended 30 September 2025 amounted to HK$686,116, this was related to the interest expenses for the convertible bond.
The unaudited net loss for the period ended 30 September 2025 shows an increase of HK$2,414,914 and 65.2% compared to the same period in 2024. This was attributable to the decrease of sale and increase of administrative expenses costs by the Group during the period.
The Directors do not recommend the payment of a dividend in respect of the period.
The interim results have not been reviewed by the Company's auditor.
(ii) Balance sheet items
The Group's tangible fixed assets mainly comprised of office equipment, decreased in amount by HK$96,166 as at 30 September 2025, compared to the same period in 2024, mainly due to the depreciation during the period.
The Group's inventories as at 30 September 2025 amounted to HK$436,429 with a decrease of HK$18,420 over the balance as at 30 June 2024.
The Group's other receivables and prepayments as at 30 September 2025 increased by HK$284,880 or 25% compared to the same period in 2024.
The Group's trade payables as at 30 September 2025 amounted to HK$3,422,066 with an increase of HK$222,678 over the balance as at 30 June 2024.
The Group's cash and cash equivalents decreased by HK$43,929 as at 30 September 2025 compared to 30 June 2024.
Outlook
The Board is focused on executing a four-pillar strategy to return the Company to growth:
1. Strengthening Financial Foundation: Securing additional working capital to restore marketing investment and operational flexibility.
2. Product-Led Growth: Refreshing core product lines and introducing new designs and variants to stimulate organic demand.
3. Flagship Retail Expansion: Progressing advanced talks to open company-owned flagship stores in key global cities, creating a seamless omnichannel experience.
4. Financial Innovation - Digital Asset Treasury (DAT) Strategy: Following its approval at the Annual General Meeting, the Company is implementing its DAT strategy. This involves strategically holding Ethereum (ETH) as a treasury reserve asset and accepting ETH as a payment method. This integrated approach aims to connect with a new consumer demographic and position the Company at the forefront of financial and retail innovation.
The Board is confident that these initiatives will restore sales momentum. By uniting a stronger financial ground base with an enhanced product portfolio and an ambitious retail vision, the Company is positioned to recapture market share and drive sustainable value for shareholders.
On behalf of the Board of Directors, I would like to thank our management and staff for the great loyalty and dedication that they continue to show through these delicate times. I would also like to extend our utmost appreciation to all our partners, shareholders, customers, business associates and suppliers, for their continued support.
Ivor Colin Shrago
Chairman
For further information, please contact:-
|
CRUSHMETRIC Group Limited ONG Ban Poh Michael - Chief Executive Officer Lilian Lo - Acting Chief Financial Officer
|
Tel: +852 2110 4221
|
|
Aquis Growth Market Corporate Adviser AlbR Capital Limited
|
Tel: +44 (0)20 7469 0930 |
The Directors of the Company accept responsibility for the contents of this announcement.
CRUSHMETRIC Group Limited
Consolidated Statement of Comprehensive Income
For the six months ended 30 September 2025
|
|
|
The Group |
|
||||
|
|
|
Unaudited |
|
Unaudited |
|
Audited |
|
|
|
|
6 months ended |
|
6 months ended 30 June 2024 |
|
Year ended |
|
|
|
|
HK$ |
|
HK$ |
|
HK$ |
|
|
From continuing operations |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
|
2,095,815 |
|
2,942,844 |
|
3,977,920 |
|
|
Cost of sales |
|
(682,239) |
|
(791,273) |
|
(1,181,713) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
|
1,413,576 |
|
2,151,571 |
|
2,796,207 |
|
|
|
|
|
|
|
|
|
|
|
Other revenue |
|
768,150 |
|
42,336 |
|
250,856 |
|
|
Distribution costs |
|
(2,338,403) |
|
(2,092,950) |
|
(3,257,843) |
|
|
Administrative expenses |
|
(4,920,682) |
|
(3,323,278) |
|
(7,735,209) |
|
|
Foreign exchange gains/(losses), net |
|
(352,269) |
|
(58,045) |
|
(116,491) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating loss |
|
(5,429,628) |
|
(3,280,366) |
|
(8,062,480) |
|
|
|
|
|
|
|
|
|
|
|
Impairment loss for goodwill |
|
|
|
|
|
- |
|
|
Impairment loss on trade receivable |
|
(1,350) |
|
244,880 |
|
(143,031) |
|
|
Profit on disposal of subsidiaries |
|
|
|
|
|
- |
|
|
Finance costs |
|
(686,116) |
|
(666,378) |
|
(1,431,719) |
|
|
Interest income |
|
666 |
|
322 |
|
750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before taxation |
|
(6,116,428) |
|
(3,701,542) |
|
(9,350,418) |
|
|
Taxation |
|
- |
|
28 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss for the period/year |
|
(6,116,428) |
|
(3,701,514) |
|
(9,350,418) |
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income |
|
|
|
|
|
|
|
|
Exchange differences arising from translation |
|
(266,530) |
|
347,366 |
|
493,467 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive result for the period/year |
|
(6,382,958) |
|
(3,354,148) |
|
(8,856,951) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss for the period/year attributable to: |
|
|
|
|
|
|
|
|
Equity holders of the parent entity |
|
(5,583,065) |
|
(3,580,551) |
|
(8,932,536) |
|
|
Non-controlling interests |
|
(533,363) |
|
(120,963) |
|
(417,882) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(6,116,428) |
|
(3,701,514) |
|
(9,350,418) |
|
|
|
|
|
|
|
|
|
|
|
Total comprehensive loss for the period/year attributable to: |
|
|
|
|
|
|
|
|
Equity holders of the parent entity |
|
(5,849,595) |
|
(3,233,185) |
|
(8,439,069) |
|
|
Non-controlling interests |
|
(533,363) |
|
(120,963) |
|
(417,882) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(6,382,958) |
|
(3,354,148) |
|
(8,856,951) |
|
|
|
|
|
|
|
|
|
|
|
Loss per share - from continuing operations (HK$) |
|
|
|
|
|
|
|
|
Basic and diluted |
|
(0.02) |
|
(0.01) |
|
(0.04) |
|
|
|
|
|
|
|
|
|
|
Loss per share - from continuing operations
The calculation of basic loss per share is based on the consolidated loss attributable to the equity holders of the parent entity of HK$5,583,065 (For the six months ended 30 June 2024: Loss of HK$3,580,551; For the 15 months ended 31 March 2025: Loss of HK$8,932,536) and the weighted average number of ordinary shares of 240,287,470 (For the six months ended 30 June 2024 weighted average number of ordinary shares of 240,006,424; For the 15 months ended 31 March 2025: 244,086,488) in issue during the period.
CRUSHMETRIC Group Limited
Consolidated Statement of Financial Position
As at 30 September 2025
|
|
|
Unaudited As at 30 September 2025 |
|
Unaudited As at 30 June 2024 |
|
Audited As at 31 March 2025 |
|
|
|
HK$ |
|
HK$ |
|
HK$ |
|
Assets |
|
|
|
|
|
|
|
Non-current assets |
|
|
|
|
|
|
|
Fixed assets |
|
162,999 |
|
259,165 |
|
225,177 |
|
Other intangible assets |
|
- |
|
- |
|
- |
|
Right-of-use assets |
|
304,036 |
|
492,649 |
|
440,694 |
|
Goodwill |
|
235,194,874 |
|
235,194,874 |
|
235,194,874 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
235,661,909 |
|
235,946,688 |
|
235,860,745 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
Inventories |
|
436,429 |
|
454,849 |
|
419,502 |
|
Trade receivables |
|
152,967 |
|
218,745 |
|
26,252 |
|
Other receivables and prepayments |
|
1,416,064 |
|
1,131,184 |
|
1,373,778 |
|
Cash and cash equivalents |
|
130,606 |
|
174,535 |
|
3,698,370 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,136,066 |
|
1,979,313 |
|
5,517,902 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
237,797,975 |
|
237,926,001 |
|
241,378,647 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity and liabilities |
|
|
|
|
|
|
|
Equity |
|
|
|
|
|
|
|
Share capital |
|
1,902,628 |
|
1,873,593 |
|
1,902,628 |
|
Share premium |
|
397,678,875 |
|
392,993,101 |
|
397,678,875 |
|
Reserve |
|
(222,504,165) |
|
(211,448,686) |
|
(216,654,570) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity attributable to the parent entity |
|
177,077,338 |
|
183,418,008 |
|
182,926,933 |
|
Non-controlling interest |
|
(2,423,215) |
|
(1,592,007) |
|
(1,889,852) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity |
|
174,654,123 |
|
181,826,001 |
|
181,037,081 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
Trade payables |
|
3,422,066 |
|
3,199,388 |
|
3,094,799 |
|
Other payables and accruals |
|
39,351,139 |
|
33,882,872 |
|
37,297,601 |
|
Taxation payable |
|
59,302 |
|
59,302 |
|
59,302 |
|
Amount due to directors |
|
3,073,178 |
|
3,095,274 |
|
3,034,238 |
|
Lease liabilities |
|
147,848 |
|
227,653 |
|
364,340 |
|
Borrowings |
|
16,933,744 |
|
15,352,143 |
|
16,399,114 |
|
|
|
|
|
|
|
|
|
|
|
62,987,277 |
|
55,816,632 |
|
60,249,394 |
|
Non-Current liabilities |
|
|
|
|
|
|
|
Lease liabilities |
|
156,575 |
|
283,368 |
|
92,172 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
63,143,852 |
|
56,100,000 |
|
60,341,566 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total equity and liabilities |
|
237,797,975 |
|
237,926,001 |
|
241,378,647 |
|
|
|
|
|
|
|
|
The Group's consolidated financial statements for the six months ended 30 June 2024 and 30 September 2025 disclosed above have neither been audited nor reviewed by the Company's auditors.
The same accounting policies and methods of computation as included in the Group's consolidated financial statements for the year ended 31 March 2025 have been adopted in the preparation of the Group's unaudited consolidated financial statements for the six months ended 30 September 2025.