HONG KONG, Sept. 23, 2025 (GLOBE NEWSWIRE) -- Powell Max Limited (Nasdaq: PMAX) (the “Company” or “Powell Max”), a financial communications services provider headquartered in Hong Kong, today announced its unaudited interim condensed financial results for the six months ended June 30, 2025. Overview: Revenue was HK$23.9 million (US$3.1 million) for the six months ended June 30, 2025, representing an increase of 5.3% for the same period in 2024.Net loss was HK$20.4 million (US$2.6) for the six months ended J ...

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]

Company Strategy - Powell Max Limited has commenced activities to pursue acquisitions as part of its strategy to build and grow its business operations in the financial communications industry [1][2] - The company is evaluating several financial communications service companies to enhance its market share in Hong Kong and Asia [1][2] Acquisition Targets - Powell Max intends to acquire companies generating between $1.5 million and $5 million in gross annual revenue [2] - The company plans to retain most management teams of the acquired companies and expand them with professionals specializing in corporate strategy and business development [2] Market Context - Financial communications service companies in Hong Kong provide essential services such as compliance filings, financial printing, and investor communications [3] - The Main Board of the Stock Exchange in Hong Kong has a total market capitalization of approximately $4,521 billion, with 2,632 listed companies, indicating strong local demand for financial communications services [3] Financial Support - Powell Max has secured a standby equity line of credit with a maximum amount of $40 million to support its acquisition pursuits and strategic partnerships [3] Acquisition Process - Powell Max has not entered into any written agreements with the targets currently being evaluated, and any acquisition is subject to due diligence and negotiation of definitive transaction agreements [4]

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]