Financial Position - As of September 30, 2023, the company had cash deposits of HK$18,255,931 (approximately US$4,425,901) with financial institutions in Hong Kong[523]. - The company has not incurred significant credit risk as it deposits cash with high credit quality financial institutions[523]. - The company establishes provisions for potential credit losses based on assessments of specific customer risks, which have been deemed immaterial over reported periods[524]. Customer and Supplier Concentration - The company’s top 10 customers accounted for less than 2% of total sales volume, indicating a diversified customer base[527]. - The company does not have a concentration of revenue with specific customers, with no single customer accounting for 10% or more of revenue for the years ended September 30, 2023, 2024, and 2025[530]. - For the year ended September 30, 2023, four suppliers accounted for 26.47%, 15.59%, 11.89%, and 10.58% of total purchases, showing some concentration in supplier relationships[529]. Risk Exposure - The company is exposed to interest rate risk primarily related to variable-rate bank borrowings, concentrated on fluctuations in the Hong Kong Prime Rate and HIBOR[532]. - The company’s operational activities are primarily conducted in Hong Kong, making it susceptible to the political, economic, and legal environments in the region[534]. Corporate Governance - The company is permitted to adopt home country practices that may afford less protection to shareholders compared to Nasdaq corporate governance standards[186]. - The company qualifies as a foreign private issuer, which allows it to be exempt from certain reporting requirements applicable to U.S. domestic issuers[189].

Core Viewpoint - Four Chinese concept stocks have been suspended from trading by the U.S. Securities and Exchange Commission (SEC) due to allegations of stock price manipulation shortly after their IPOs [1] Group 1: QMMM Holdings (QMMM.US) - The SEC suspended trading of QMMM Holdings Ltd. after its stock price surged over 100 times in less than a week [2] - The company announced plans to establish a "diversified cryptocurrency vault" with an initial scale of $100 million, targeting Bitcoin, Ethereum, and Solana [2] - Following the announcement, the stock price skyrocketed, but the SEC's intervention indicates potential market manipulation [2] Group 2: Smart Digital Group Ltd. (SDM.US) - The SEC also suspended trading of Smart Digital Group Ltd. for similar reasons related to stock price manipulation [2] - The company had announced plans to create a "diversified cryptocurrency asset pool" focused on Bitcoin and Ethereum, but its stock price has since declined [2] Group 3: Etoiles Capital (EFTY.US) - The SEC decided to suspend trading of Etoiles Capital Group Co., Ltd. due to signs of market manipulation through social media recommendations [5] - The company went public on August 8 with an IPO price of $4 per share, raising $5.6 million, and its stock price has risen to $15, giving it a market cap of $300 million [5] Group 4: Pitanium Limited (PTNM.US) - The SEC suspended trading of Pitanium Limited based on similar concerns of market manipulation via social media [7] - The company completed its IPO on May 30 at $4 per share, raising $7 million, and its stock price has increased to $10.39, resulting in a market cap of $239 million [7] Group 5: Platinum Analytics (PLTS.US) - The SEC suspended trading of Platinum Analytics due to indications of market manipulation through social media recommendations [11] - The company went public on September 19 with an IPO price of $4, raising $8 million, and its stock price has risen to $17.5, leading to a market cap of $316 million [11]

Core Viewpoint - Trading in Pitanium Limited has been halted by Nasdaq for additional information requested from the company following a previous suspension by the SEC [1][2]. Group 1: Trading Suspension Details - The SEC suspended trading in Pitanium Limited from 04:00 on October 6, 2025, to 23:59 on October 17, 2025 [1]. - The last sale price of Pitanium Limited's ordinary shares was $10.39 [1]. Group 2: Information and Contact - Trading will remain halted until Pitanium Limited fully satisfies Nasdaq's request for additional information [2]. - For further news and information about the company, direct contact with the company or checking under the company's symbol on the Nasdaq website is recommended [2].

Group 1 - The top five gaining Chinese concept stocks at the close were: Hengfeng Technology Innovation up 54.55%, Pupu Culture up 45.91%, Huiyang New Energy up 38.27%, Pitanium up 32.17%, and Heitong Technology up 24.83% [1] - Hengfeng Technology Innovation's latest price is 29.750 with a gain of 10.500 and a trading volume of 25.4021 million [1] - Pupu Culture's latest price is 2.050 with a gain of 0.645 and a trading volume of 116 million [1] Group 2 - Huiyang New Energy's latest price is 1.1200 with a gain of 0.3100 and a trading volume of 880,900 [1] - Pitanium's latest price is 11.380 with a gain of 2.770 and a trading volume of 33.0281 million [1] - Heitong Technology's latest price is 9.200 with a gain of 1.830 and a trading volume of 662,610 [1]

Group 1 - The top five gainers among Chinese concept stocks include: Mindonghong with a rise of 35.33%, Pitanium up by 21.27%, Heitong Technology increasing by 17.07%, Zhengye Biology rising 14.7%, and Mint up 14.24% [1] - Mindonghong (ORIS) closed at 0.1827 with a gain of 35.33%, translating to an increase of 0.0477 and a trading volume of 13.18 million [1] - Pitanium (PTNM) reached a price of 7.240, marking a 21.27% increase, which is an addition of 1.270 with a trading volume of 9.68 million [1] Group 2 - Heitong Technology (DKI) saw its stock price rise to 8.300, reflecting a 17.07% increase, equivalent to a gain of 1.210 and a trading volume of 4.25 million [1] - Zhengye Biology (ZYBT) closed at 10.690, with a 14.70% increase, amounting to a rise of 1.370 and a trading volume of 2.35 million [1] - Mint (MIMI) ended at 10.750, showing a 14.24% increase, which is an increase of 1.340 with a trading volume of 39.62 million [1]

Core Viewpoint - Chinese concept stocks experienced significant gains, with Everbright Digital leading the surge with an increase of nearly 90% [1] Group 1: Top Gainers - Everbright Digital (EDHL) saw a price increase of 89.91%, closing at 0.8206 with a trading volume of 150 million [1] - Pitanium (PTNM) rose by 75.06%, reaching a price of 7.930 and a trading volume of approximately 99.664 million [1] - Zhongyang Financial Group (TOP) increased by 49.19%, closing at 1.850 with a trading volume of about 98.6053 million [1] - Chuangzhi Global Technology (CGTL) experienced a gain of 47.37%, closing at 0.8490 with a trading volume of around 69.6471 million [1] - Yipin Weike (EPWK) rose by 38.79%, closing at 0.5363 with a trading volume of approximately 6.1636 million [1]

Group 1 - The top five gaining Chinese concept stocks at closing were: Niudaren up 46.37%, Pitanium up 32.3%, AirNet Technology up 25.3%, Mingzhu Freight up 21.76%, and Sentage up 20.97% [1] - Niudaren's latest price is 12.690 with a gain of 4.020 and a trading volume of 2.7847 million [1] - Pitanium's latest price is 2.130 with a gain of 0.520 and a trading volume of 22.0645 million [1] - AirNet Technology's latest price is 4.210 with a gain of 0.850 and a trading volume of 0.29869 million [1] - Mingzhu Freight's latest price is 0.9009 with a gain of 0.1610 and a trading volume of 0.0762 million [1] - Sentage's latest price is 1.996 with a gain of 0.346 and a trading volume of 0.11865 million [1]

Group 1 - The top five gaining Chinese concept stocks at the close were Pitanium, Skyline Construction Group, Jin Xin Technology, Golden Sun Amusement, and Luda Technology, with significant percentage increases ranging from 24.90% to 62.46% [1] - Pitanium (PTNM) saw a remarkable increase of 62.46%, closing at 1.6100 with a trading volume of 80.7471 million [1] - Skyline Construction Group (SKBL) experienced a 52.19% rise, closing at 0.8188 with a trading volume of 87.6669 million [1] Group 2 - Jin Xin Technology (NAMI) increased by 33.01%, closing at 1.370 with a trading volume of 77.2216 million [1] - Golden Sun Amusement (GDHG) rose by 25.49%, closing at 0.4800 with a trading volume of 0.8712 million [1] - Luda Technology (LUD) had a 24.90% increase, closing at 6.470 with a trading volume of 0.1167 million [1]

Core Viewpoint - Chinese concept stocks experienced significant declines, with the top five losers showing drastic percentage drops in their stock prices [1] Group 1: Stock Performance - Feitian Zhaoye (PTHL) saw a decline of 94.67%, closing at 1.650, with a drop of 29.310 million [1] - Hongli Yingzao (WLGS) fell by 37.00%, ending at 0.0533, with a decrease of 0.0313 million [1] - American Green Star (PLAG) decreased by 26.83%, closing at 1.500, down by 0.550 million [1] - Pitanium (PTNM) dropped by 25.42%, with a closing price of 1.320, down by 0.450 million [1] - Yanke Technology (RCON) experienced a decline of 23.45%, closing at 2.260, with a drop of 0.693 billion [1]

As filed with the U.S. Securities and Exchange Commission on May 7, 2025. Registration No. 333-284998 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 2 TO FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Pitanium Limited (Exact name of registrant as specified in its charter) (Primary Standard Industrial Classification Code Number) British Virgin Islands 2844 Not Applicable (I.R.S. Employer Identification Number) 30F, Gravity, 29 Hing Yip Street, Kwun Ton ...