Pitanium Ltd-A(US:PTNM)2026-01-30 15:30Financial 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].