UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...

Financial Performance - Revenue for the year ended December 31, 2024, decreased by 25.7% to HK$36.5 million (US$4.7 million) from HK$49.1 million in 2023, primarily due to declines in corporate financial communications and IPO financial printing services [2][8] - General and administrative expenses increased by 128% to HK$24.9 million (US$3.2 million) for the year ended December 31, 2024, compared to HK$10.9 million in 2023, driven by issuance expenses and higher professional services and employee benefits costs [3] - Selling and distribution expenses rose by 55.6% to HK$7.0 million (US$0.9 million) for the year ended December 31, 2024, from HK$4.5 million in 2023, attributed to an increase in sales team staff and business development expenses [4] - The net loss for the year ended December 31, 2024, was HK$18.1 million (US$2.3 million), a significant decline from a profit of HK$7.1 million in 2023 [5][8] - Basic and diluted loss per share was HK$1.37 (US$0.18) for the year ended December 31, 2024, compared to earnings per share of HK$0.56 in 2023 [5] Company Overview - Powell Max Limited is a financial communications services provider based in Hong Kong, offering a range of services including financial printing, corporate reporting, and language support for corporate clients [6] - The company serves both domestic and international companies listed in Hong Kong, as well as those seeking to list, along with their advisors [6] Financial Position - Total assets increased to HK$62.57 million (US$8.06 million) as of December 31, 2024, from HK$22.99 million in 2023 [11][12] - Current liabilities rose to HK$40.14 million (US$5.17 million) as of December 31, 2024, compared to HK$37.03 million in 2023 [12] - Total liabilities increased to HK$41.30 million (US$5.32 million) as of December 31, 2024, from HK$38.30 million in 2023 [12]

Core Points - Powell Max Limited has received a notification from Nasdaq regarding non-compliance with the $1.00 minimum bid price requirement for its Class A Ordinary Shares [1] - The company has 180 days until September 1, 2025, to regain compliance by maintaining a closing bid price of at least $1.00 for ten consecutive business days [2] - The notification does not have an immediate effect on the trading of the company's shares, which will continue to trade under the symbol "PMAX" [3] - The company may consider options such as a reverse stock split to regain compliance with the minimum bid price requirement [3] Company Overview - Powell Max Limited is a financial communications services provider based in Hong Kong, offering services that support capital market compliance and transaction needs for corporate clients [4] - The company's services include financial printing, corporate reporting, communications, and language support, catering to both domestic and international companies listed in Hong Kong [4]

HONG KONG, Jan. 15, 2025 (GLOBE NEWSWIRE) -- Powell Max Limited (Nasdaq: PMAX) (the “Company” or “Powell Max”), a financial communications services provider headquartered in Hong Kong, today announced that it has commenced activities to pursue acquisitions as part of its strategy to build and grow its business operations. The Company is currently evaluating several other financial communications service companies to continue its growth and enhance its market share in the financial communications industry in ...

Core Viewpoint - Powell Max Limited has secured a $40 million standby equity line of credit with Yorkville Advisors, enhancing its financial flexibility and supporting strategic growth initiatives [1][2][3] Group 1: Financing Details - The equity line allows Powell Max to issue and sell up to $40 million of its Class A ordinary shares to Yorkville [1] - In connection with the equity line, Powell Max has issued a $1 million convertible promissory note to Yorkville, due in November 2025 [1] Group 2: Strategic Implications - The $40 million equity line will enable Powell Max to expand its portfolio of liquidity solutions and support strategic partnerships and investments in financial communications and ancillary sectors [2] - CEO Tsz Kin Wong expressed enthusiasm about the partnership with Yorkville, highlighting the importance of this funding source for the company's financial flexibility and strategic development [3]