v3.26.1
Consolidated Balance Sheets
Nov. 30, 2025
HKD ($)
Nov. 30, 2025
USD ($)
Nov. 30, 2024
HKD ($)
Current assets:      
Cash $ 67,468,223 $ 8,664,212 $ 63,535,847
Accounts receivable, net 2,370,437 304,410 2,358,162
Prepayments and other receivable 2,653,771 340,795 1,846,344
Due from Related parties, net 21,264,851 2,730,814 1,556,765
Escrow receivable 391,056
Total current assets 93,757,282 12,040,231 69,688,174
Non-current assets:      
Property and equipment, net 27,018 3,470 28,327
Right-of-use assets, net 666,475 85,588 353,218
Deposits and prepayments 500,000 64,210 500,000
Deferred tax assets 440,388 56,554 1,159,587
Total non-current assets 1,633,881 209,822 2,041,132
Total assets 95,391,163 12,250,053 71,729,306
Current liabilities:      
Accruals and other payables 899,753 115,546 1,276,229
Contract liabilities 128,400
Bank borrowings 501,522 64,405 480,619
Operating lease liabilities 499,296 64,119 293,792
Taxes payables 1,536,569 197,325 2,932,183
Total current liabilities 3,437,140 441,395 5,111,223
Other liabilities      
Bank borrowings, net of current portion 1,505,343 193,315 2,012,828
Operating lease liabilities, net of current portion 167,179 21,469
Total other liabilities 1,672,522 214,784 2,012,828
Total liabilities 5,109,662 656,179 7,124,051
Commitment and contingencies
Shareholders’ equity      
Additional paid-in capital 104,594,842 13,431,982 49,897,579
Shares subscription receivable (10,852,353) (1,393,650)
Retained earnings (Accumulated deficit) (3,468,920) (445,475) 14,706,655
Accumulated other comprehensive income (loss) 5,501 706
Total shareholders’ equity 90,281,501 11,593,875 64,605,255
Total liabilities and shareholders’ equity 95,391,163 12,250,053 71,729,306
Class A Ordinary Shares      
Shareholders’ equity      
Ordinary shares, value [1] 2,314 297 904
Class B Ordinary Shares      
Shareholders’ equity      
Ordinary shares, value $ 117 $ 15 $ 117 [1]
[1] Number of shares divided as 450,000,000 Class A ordinary shares with a par value of US$0.00001 per share (the “Class A Ordinary Shares”) and 50,000,000 class B ordinary shares with a par value of US$0.00001 per share (the “Class B Ordinary Shares”), approved by the board of directors on November 27, 2024. The Company, for good and valuable consideration, planned to repurchase 1,500,000 shares of the Majority Shareholder’s Class A Ordinary Shares and 1,500,000 Class B Ordinary Shares to the Majority Shareholder. The company has completed the Class A and Class B share re-designation in February 2025. In June 2025, the company issued 15,000,000 Class A ordinary shares in a private placement financing for aggregate gross proceeds of approximately US$ 3,922,500. The issuance was accounted for as an equity financing transaction, with par value recorded as share capital and the excess over par value recorded as additional paid -in capital. The net proceeds were used for general corporate purposes. As of the reporting date, the company has not yet received investment proceeds amounting to US$1,333,650 (equivalent to HK$10,385,133). In July 2025, the company issued 2,625,000 Class A ordinary shares to certain consultants and one employee pursuant to the company’s 2025 Stock Incentive plan. The grant date fair value of the Company’s Class A ordinary shares was US$1.205 per share, determined with reference to the quoted closing market price on the grant date. The shares were issued to eligible participants at subscription price of US$0.3 per share. The difference between the grant date fair value and the subscription price represents share- based compensation in accordance with ASC718. As of the reporting date, the company has not yet received investment proceeds amounting to US$60,000(equivalent to HK$467,220). On January 15, 2026, the company’s board of directors approved a reverse stock split of the Company’s issued and outstanding ordinary shares at a ratio of one-for-twenty (1:20). The reverse stock split became effective on or about February 17, 2026. All share and per share amounts, including the number of shares outstanding, earnings per share, and other per share data, have been retrospectively adjusted for all periods presented to reflect the reverse stock split.