Revenue Performance - Revenue decreased by approximately $2.1 million, or 13.7%, from approximately $15.5 million for fiscal year 2024 to approximately $13.4 million for fiscal year 2025[379] - Total revenues decreased by approximately $2.1 million, or 13.7%, to approximately $13.4 million for the fiscal year ended September 30, 2025, compared to approximately $15.5 million for the fiscal year ended September 30, 2024[395] - Revenue from projects increased by approximately $4.9 million, or 65.2%, to approximately $12.3 million for the fiscal year ended September 30, 2025, compared to approximately $7.5 million for the fiscal year ended September 30, 2024[397] - Revenue from products decreased by approximately $6.9 million, or 89.5%, to approximately $0.8 million for the fiscal year ended September 30, 2025, compared to approximately $7.7 million for the fiscal year ended September 30, 2024[399] - Revenue from services decreased by approximately $57,000, or 15.7%, due to a decline in service contracts from sporadic customers[419] - Revenue generated from real estate property development projects was approximately $12.5 million for fiscal year 2025, representing approximately 93.7% of total revenue[389] Profitability - Gross profit margin decreased from 18.6% for fiscal year 2024 to 8.8% for fiscal year 2025[379] - Gross profit decreased by approximately $1.7 million, or 59.3%, to approximately $1.2 million for the fiscal year ended September 30, 2025, with a gross margin of 8.8% compared to 18.6% for the fiscal year ended September 30, 2024[405] - The gross profit margin for projects decreased from 23.7% for the fiscal year ended September 30, 2024, to 8.1% for the fiscal year ended September 30, 2025[406] - Net loss for fiscal year 2025 was approximately $3.3 million, compared to a net profit of approximately $1.0 million for fiscal year 2024[380] - Net loss for the fiscal year ended September 30, 2025, was approximately $3.3 million, compared to a net income of approximately $1.0 million for the fiscal year ended September 30, 2024[413] - Net income decreased by approximately $0.5 million, from approximately $1.5 million in 2023 to approximately $1.0 million in 2024[433] Costs and Expenses - General and administrative expenses increased by approximately $3.2 million, or 403.8%, for the fiscal year ended September 30, 2025, primarily due to increased employment costs and professional service fees[409] - Cost of revenues decreased by approximately $0.4 million, or 3.3%, to approximately $12.2 million for the fiscal year ended September 30, 2025, compared to approximately $12.6 million for the fiscal year ended September 30, 2024[401] - Total cost of revenues increased by approximately $418,322, or 3.4%, to $12,639,984 for the fiscal year ended September 30, 2024[421] - Selling expenses decreased by approximately $0.1 million, or 75.1%, due to strict expenditure control[429] - Subcontracting fees constituted 12.9% of total cost of sales for fiscal year 2025[391] Backlog and Project Awards - Backlog as of September 30, 2025, was approximately $8.6 million, down from approximately $18.3 million as of September 30, 2024[383] - Project awards for fiscal year 2025 totaled approximately $4.4 million[383] Impairment and Other Losses - Credit and impairment losses recognized were approximately $1.0 million for fiscal year 2025[380] - Impairment losses decreased by approximately $0.7 million for the fiscal year ended September 30, 2025, as no such events occurred during this period[410] - Other expenses, net, increased by approximately $80,000, or 148.3%, primarily due to the absence of a similar income situation in the fiscal year 2025[411] - Impairment losses for the fiscal year ended September 30, 2024, were approximately $0.7 million, related to contract fulfillment costs for a project with a real estate customer facing liquidity issues[430] Business Development - The company incorporated a new subsidiary, Chengdu Wufang Boyuan Innovation Technology Co., Ltd., in April 2025 to explore new business opportunities in the consumer market[383] - The company has implemented stricter client vetting and advance payment terms to mitigate default risks from real estate developer clients[381]
WF International Limited(WXM) - 2025 Q4 - Annual Report