Exhibit 99.1
PLASTEC TECHNOLOGIES REPORTS UNAUDITED FIRST HALF 2025 FINANCIAL RESULTS
Hong Kong – August 18, 2025 – Plastec Technologies, Ltd. (OTCBB: PLTYF) (the “Company”) today reported unaudited financial results for the six months ended June 30, 2025.
Balance Sheet Highlights at June 30, 2025*
| · | $5.5 million in cash and cash equivalents, compared to $5.7 million at December 31, 2024. |
| · | $5.4 million in working capital, compared to $5.6 million at December 31, 2024. |
| · | Book value per share of $0.42, compared to $0.43 at December 31, 2024. |
* Balance Sheet highlights amounts are presented in U.S. dollars ($) based on a conversion rate of $1.0: HK$7.8, while financial tables/amounts at the end of this release are in Hong Kong dollars (HK$).
Recent Developments
As announced in April 2025, the Company has applied for the liquidation of its BVI-incorporated subsidiaries: Viewmount Development Limited, Sun Ngai Spraying and Silk Print Co. Ltd., and Sun Terrace Industries Ltd. While the liquidation of these assets is still ongoing, once completed, Plastec Technologies, Ltd., will no longer have any subsidiaries.
Management Comments
Mr. Kin Sun Sze-To, Chairman of the Company, stated, “We continued to maintain a lean corporate structure throughout the period. We are actively working to finalize the application process and complete the liquidation of non-core assets, an effort which reflects our commitment to monetizing assets that no longer align with our long-term strategic direction. At the same time, our clean balance sheet remains a key strength, providing us with the financial flexibility and resilience needed to pursue new opportunities as they arise.”
Forward Looking Statements
This press release contains “forward-looking statements.” These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements.
CONTACT:
Plastec Technologies, Ltd.
HL Ning, Chief Financial Officer
ning@plastec.com.hk
INVESTOR RELATIONS:
The Equity Group Inc.
Alice Zhang, Associate
(212) 836-9610 / azhang@theequitygroup.com
Lena Cati, Senior Vice President
(212) 836-9611 / lcati@theequitygroup.com
Plastec Technologies, Ltd. August 18, 2025 | Page 2 |
PLASTEC TECHNOLOGIES, LTD.
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE
(LOSS)/INCOME (Unaudited)
(Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated)
| For the six months ended June 30, |
||||||||
| 2025 | 2024 | |||||||
| HK$ | HK$ | |||||||
| Revenues | - | - | ||||||
| Operating expenses, net | ||||||||
| General and administrative expenses | (2,074 | ) | (1,937 | ) | ||||
| Total operating expenses, net | (2,074 | ) | (1,937 | ) | ||||
| Loss from operations | (2,074 | ) | (1,937 | ) | ||||
| Interest income | 892 | 2,525 | ||||||
| (Loss)/income before income tax expense | (1,182 | ) | 588 | |||||
| Income tax expense | - | (524 | ) | |||||
| Net (loss)/income and comprehensive (loss)/income attributable to the Company’s shareholders | (1,182 | ) | 64 | |||||
| Net (loss)/income per share: | ||||||||
| Weighted average number of ordinary shares | 12,938,128 | 12,938,128 | ||||||
| Weighted average number of diluted ordinary shares | 12,938,128 | 12,938,128 | ||||||
| Basic net (loss)/income per share attributable to the Company’s shareholders | HK$ | (0.091) | HK$ | 0.005 | ||||
| Diluted net (loss)/income per share attributable to the Company’s shareholders | HK$ | (0.091) | HK$ | 0.005 | ||||
Plastec Technologies, Ltd. August 18, 2025 | Page 3 |
PLASTEC TECHNOLOGIES, LTD.
INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
(Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated)
| (Unaudited) June 30, | (Audited) December 31, | |||||||
| 2025 | 2024 | |||||||
| HK$ | HK$ | |||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | 42,798 | 44,171 | ||||||
| Deposits, prepayment and other receivables | 225 | - | ||||||
| Total current assets | 43,023 | 44,171 | ||||||
| Total assets | 43,023 | 44,171 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current liability | ||||||||
| Other payables and accruals | 572 | 538 | ||||||
| Total current liability | 572 | 538 | ||||||
| Total liability | 572 | 538 | ||||||
| Commitments and contingencies | - | - | ||||||
| Shareholders’ equity | ||||||||
| Ordinary shares (US$0.001 par value; 100,000,000 authorized 12,938,128 and 12,938,128 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively) | 101 | 101 | ||||||
| Additional paid-in capital | 26,049 | 26,049 | ||||||
| Accumulated other comprehensive income | (30 | ) | (30 | ) | ||||
| Retained earnings | 16,331 | 17,513 | ||||||
| Total shareholders’ equity | 42,451 | 43,633 | ||||||
| Total liability and shareholders’ equity | 43,023 | 44,171 | ||||||
Plastec Technologies, Ltd. August 18, 2025 | Page 4 |
PLASTEC TECHNOLOGIES, LTD.
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
(Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated)
| For the six months ended June 30, |
||||||||
| 2025 | 2024 | |||||||
| HK$ | HK$ | |||||||
| Operating activities | ||||||||
| Net (loss)/income | (1,182 | ) | 64 | |||||
| Adjustments to reconcile net (loss)/income to net cash used in /provided by operating activities: | ||||||||
| Depreciation and amortization | - | 36 | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Deposits, prepayment and other receivables | (225 | ) | (749 | ) | ||||
| Other payables and accruals | 34 | (735 | ) | |||||
| Tax payables | - | 523 | ||||||
| Net cash used in operating activities | (1,373 | ) | (861 | ) | ||||
| Investing activity | ||||||||
| Purchase of plant and machinery | - | (370 | ) | |||||
| Net cash used in investing activity | - | (370 | ) | |||||
| Net decrease in cash and cash equivalents | (1,373 | ) | (1,231 | ) | ||||
| Cash and cash equivalents, beginning of period | 44,171 | 96,303 | ||||||
| Cash and cash equivalents, end of period | 42,798 | 95,072 | ||||||
| SUPPLEMENTARY DISCLOSURES OF CASH FLOW INFORMATION: | ||||||||
| Interest received | 892 | 2,525 | ||||||