Company Overview - Raytech Holding Limited is a Hong Kong-headquartered company specializing in the design, sourcing, and wholesale of personal care electrical appliances for international brand owners [5] - The company has over 10 years of experience in the personal care electrical appliance industry, offering a diverse range of products including hair styling tools, trimmers, eyelash curlers, neck care, and nail care appliances [5] Public Offering Details - The company announced the closing of its public offering of 25,985,000 ordinary shares at a public offering price of $0.20 per share on July 1, 2025 [1] - Gross proceeds from the offering are expected to be approximately $5.197 million before deducting placement agent fees and other expenses [2] - R.F. Lafferty & Co., Inc. acted as the sole placement agent for the offering [2] Regulatory Information - The securities were offered pursuant to a registration statement on Form F-1, which was declared effective by the U.S. Securities and Exchange Commission (SEC) on June 30, 2025 [3] - A preliminary prospectus related to the offering has been filed with the SEC, and copies of the final prospectus will be available from the placement agent [3]

Core Viewpoint - Raytech Holding Limited has announced a public offering of 25,985,000 ordinary shares priced at $0.20 per share, aiming to raise approximately $5.197 million before expenses [1][2]. Company Overview - Raytech Holding Limited is a Hong Kong-based company with over 10 years of experience in the personal care electrical appliance industry, specializing in design, sourcing, and wholesale for international brand owners [5]. - The company offers a diverse range of personal care electrical appliances, including hair styling tools, trimmers, eyelash curlers, neck care, and nail care products [5]. Offering Details - The public offering is expected to close on July 1, 2025, subject to customary closing conditions [2]. - R.F. Lafferty & Co., Inc. is acting as the sole placement agent for the offering, while Loeb & Loeb LLP and Zarif Law Group P.C. are providing legal counsel [2][3]. - The offering is conducted under a registration statement on Form F-1, which was declared effective by the U.S. Securities and Exchange Commission on June 30, 2025 [3].

Core Perspective - The production of "Hamlet" by Beijing People's Art Theatre presents a contemporary interpretation of the classic play, focusing on the inner struggles of characters rather than the revenge plot, aiming to resonate with modern youth [1][2] Group 1: Production Details - The fourth round of performances for "Hamlet" is ongoing from June 7 to June 28, 2023, at the experimental theater [1] - The play premiered in 2023, directed by Yang Jiayin with artistic guidance from Feng Yuanzheng, featuring young actors Wei Jiacheng, Zhang Yezzi, Wang Junqi, and Fang Yangfei [1] - The production has received positive reviews from media and audiences, having previously participated in the 4th Guangdong-Hong Kong-Macao Greater Bay Area Chinese Drama Culture Festival [1] Group 2: Artistic Approach - The creative team has reinterpreted the storyline while maintaining its basic framework, emphasizing the characters' internal conflicts and courage in seeking solutions [2] - The actors face the challenge of playing multiple roles, utilizing symbolic props to transition between characters, enhancing the performance's dynamism [2] - The production incorporates audience interaction, breaking the "fourth wall" to increase engagement and create a lively atmosphere [2] Group 3: Modern Elements - The youth version of "Hamlet" integrates various modern artistic elements, including original music played on electric piano, guitar, and African drums, infusing the classic narrative with contemporary energy [3] - The use of props like skateboards, trampolines, and "Star Wars" lightsabers adds a playful and dynamic aspect to the performance, expanding the expressive possibilities on stage [3]

Revenue and Income - Revenue for the six months ended September 30, 2024, increased to HKD 43,248,906, representing a 31.5% growth compared to HKD 33,017,199 for the same period in 2023[3] - Net income for the six months ended September 30, 2024, was HKD 4,652,035, a decrease of 27.5% from HKD 6,418,069 in the prior year[3] - Earnings per share for the six months ended September 30, 2024, were HKD 0.27, down from HKD 0.40 in the same period of 2023[3] Cash and Assets - Cash and cash equivalents as of September 30, 2024, were HKD 81,047,102, up 126.5% from HKD 35,885,666 as of March 31, 2024[1] - Total current assets increased to HKD 95,767,496 as of September 30, 2024, compared to HKD 52,844,046 as of March 31, 2024, reflecting a growth of 81.2%[1] - Total shareholders' equity increased to HKD 73,345,685 as of September 30, 2024, compared to HKD 31,075,301 as of March 31, 2024, reflecting a growth of 135.5%[1] Liabilities and Stability - Total liabilities remained stable at HKD 27,037,713 as of September 30, 2024, compared to HKD 22,438,011 as of March 31, 2024[1] Share Issuance - The company issued 1,500,000 ordinary shares on May 15, 2024, and 113,083 ordinary shares on July 5, 2024, increasing total shares outstanding to 17,613,083[6] Cash Flows - Cash flows from operating activities for the six months ended September 30, 2024, were HKD 2,621,059, a significant decrease from HKD 16,412,961 in the prior year[9] Initial Public Offering - The company reported a total of HKD 42,772,241 in proceeds from the Initial Public Offering of shares during the six months ended September 30, 2024[9]

Core Viewpoint - Raytech Holding Limited reported a significant revenue increase of 31.0% for the six months ended September 30, 2024, driven by strong sales in its trimmer series, although operating expenses rose sharply, leading to a decrease in income from operations and net income [2][5][10]. Financial Performance - Revenue reached HKD 43.2 million (US$ 5.6 million), up from HKD 33.0 million in the prior year [2][4]. - Total operating expenses increased by 50.9% to HKD 39.3 million from HKD 26.1 million [3][5]. - Income from operations decreased by 43.7% to HKD 3.9 million (US$ 0.5 million) compared to HKD 7.0 million in the previous year [3][9]. - Net income fell by 27.5% to HKD 4.7 million (US$ 0.6 million) from HKD 6.4 million [3][10]. Revenue Breakdown - The revenue increase was primarily attributed to the trimmer series, which saw sales rise to HKD 20.9 million from HKD 4.5 million in the previous year [6][4]. - Other product sales included hair styling series at HKD 19.1 million, eyelash curlers at HKD 0.2 million, nail care series at HKD 0.9 million, and other personal care appliances at HKD 1.0 million [6]. Operating Expenses - Merchandise costs surged by 40.3% to HKD 34.1 million (US$ 4.4 million) from HKD 24.3 million [7]. - Selling, general, and administrative expenses rose to HKD 5.2 million (US$ 0.7 million) from HKD 1.8 million, mainly due to increased salaries and costs related to the IPO [8]. Profitability Metrics - The overall gross profit margin decreased by 5.2% to 21.2% from 26.4% in the previous year, influenced by lower margin profiles from new customers and reduced sales of tooling [9]. - Income from operations as a percentage of revenue dropped to 9.1% from 21.1% [3]. Future Outlook - The company aims to optimize its cost structure while continuing to drive sales growth, focusing on enhancing product offerings and expanding its customer base to improve profitability [2].

Core Insights - Raytech Holding Limited reported a 31.0% increase in revenue for the six months ended September 30, 2024, reaching HKD 43.2 million (US$ 5.6 million) compared to HKD 33.0 million in the prior year, primarily driven by strong sales in the trimmer series of personal care products [2][4][6] - Operating expenses rose significantly by 50.9% to HKD 39.3 million (US$ 5.1 million), leading to a 43.7% decrease in income from operations to HKD 3.9 million (US$ 0.5 million) and a 27.5% decline in net income to HKD 4.7 million (US$ 0.6 million) [2][3][11] - The company aims to optimize its cost structure while focusing on sales growth and enhancing product offerings to improve profitability and market position [2] Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 43.2 million, up from HKD 33.0 million in the same period of 2023, marking a 31.0% increase [4][6] - Total operating expenses increased to HKD 39.3 million from HKD 26.1 million, reflecting a 50.9% rise [3][6] - Net income decreased to HKD 4.7 million from HKD 6.4 million, a decline of 27.5% [11] Revenue Breakdown - Sales of the trimmer series significantly increased to HKD 20.9 million from HKD 4.5 million, while hair styling series sales decreased to HKD 19.1 million from HKD 20.1 million [5][7] - Other product sales included HKD 0.9 million for nail care and HKD 1.0 million for other personal care appliances, with tooling sales dropping to HKD 1.1 million from HKD 7.0 million [5][7] Operating Expenses - Merchandise costs rose by 40.3% to HKD 34.1 million, aligning with increased sales [8] - Selling, general, and administrative expenses surged to HKD 5.2 million from HKD 1.8 million, attributed to higher salaries, audit committee compensation, and increased travel and legal expenses related to the IPO [9] Income from Operations - Income from operations fell by 43.7% to HKD 3.9 million, with a gross profit margin decrease of 5.2% to 21.2% due to lower margin profiles from new customers and reduced tooling sales [10]

Company Overview - The company qualifies as an "emerging growth company" with less than US$1.235 billion in revenue for the last fiscal year, allowing for reduced reporting requirements [250]. - The company has over 10 years of experience in the personal care electrical appliance industry, focusing on sourcing and wholesaling for international brand owners [257]. - The management team has over 30 years of research, development, and operational experience, driving business growth through R&D efforts [308]. - The company has a strong presence in the personal care electrical appliances industry with a 10-year operating history, focusing on hair styling products [307]. Revenue Breakdown - Revenue from hair styling series constituted 48% of total revenue for the year ended March 31, 2024, with hair dryers accounting for approximately 37% of that segment [259]. - Sales of trimmer series represented 34% of total revenue for the year ended March 31, 2024, with new products like men's shaver and women's epilator contributing 11% and 13% respectively [264]. - The company generated 74.1% of total revenue from Koizumi Seiki Corp. for the year ended March 31, 2024, while expanding into markets in the U.S., U.K., Germany, Australia, and New Zealand [272]. - For the year ended March 31, 2024, two major customers accounted for 74.1% and 16.5% of the total revenues respectively [500]. Market Trends - The global personal care electrical appliances market size expanded to US$22.75 billion in 2024 from US$21.27 billion in 2023, representing a compound annual growth rate (CAGR) of 7% [286]. - The overall total sales value of personal care electrical appliances in Japan increased by 10.8% in 2023, from Japanese Yen 277.6 billion in 2022 to Japanese Yen 307.6 billion in 2023 [290]. - The total sales value of personal care electrical appliances in the U.S. increased by 10.8% in 2023, from US$6.57 billion in 2022 to US$6.81 billion in 2023 [296]. - The global personal care electrical appliances market is projected to reach US$35.9 billion by 2032, with a CAGR of 5% during 2024-2032 [300]. - The personal care appliances market size is expected to grow to US$29.68 billion by 2028, with a CAGR of 6.9% [301]. Distribution and Sales Channels - The e-commerce channel segment is expected to record the highest CAGR of 7.4% among various distribution channels during 2022 through 2031 [302]. - The rise in disposable incomes and expansion of the organized retail sector are key market drivers [305]. Product Development and Future Plans - The company plans to explore oral care electrical appliance series for international brand owners, leveraging its design and development capabilities [268]. - The company plans to explore new product lines, including oral care electrical appliances, and expand men's personal care and hair care product lines [314]. - The company aims to expand its market presence from Hong Kong to the U.S., Europe, and other Asian markets, although marketing initiatives have not yet started in these regions [315]. Financial Information - Payments to Zhongshan Raytech accounted for 88.5% of total manufacturing costs for the year ended March 31, 2024 [277]. - As of March 31, 2024, the cash balance was HKD 35,885,666 (approximately US$ 4,585,500) held at reputable financial institutions in Hong Kong [494]. - For the year ended March 31, 2022, net cash used in financing activities was HKD 1,558,000 due to dividend payments [495]. - The company did not incur any capital expenditures for the years ended March 31, 2022, 2023, and 2024 [496]. Customer and Supplier Relationships - As of March 31, 2022 and 2023, one major customer accounted for 96.8% and 99.6% of the total accounts receivable respectively [499]. - As of March 31, 2024, one manufacturer accounted for 97.1% of the total balance of accounts payable [501]. - For the year ended March 31, 2024, one manufacturer accounted for 88.5% of total purchases [502]. - The company has implemented a stringent quality control system to ensure high-quality products that meet international safety standards [311]. Risk Factors - The company is exposed to foreign currency risk primarily through sales denominated in currencies other than the functional currency, mainly US$ [504]. - The company is not exposed to significant interest rate risk as the interest rates are not expected to change significantly [503]. - The increasing amount of plastic waste due to disposal of electrical appliances acts as a restraint in the development of these products [306]. Employee and Operational Information - As of March 31, 2024, the company has 6 employees and maintains good relations with them [324]. - The principal executive office is a leased property of 1,343 square feet with a monthly rent of HKD25,000 (approximately US$3,194) [326]. - The operating lease expenses amounted to HKD300,000 (approximately US$38,334) for the years ended March 31, 2024, and 2023 [326]. - The research and development team consists of 2 full-time employees with a combined experience of at least 16 years in electrical appliances engineering and supply chain management [268]. Intellectual Property - The company does not own any trademarks or patents for its products, as these are owned by its customers [321].