Financial Performance - The company reported a loss attributable to shareholders of approximately $4.71 million for the year, primarily due to operating and R&D expenses of about $4.66 million [13]. - Revenue for the year was $363,000, a decrease from $719,000 in the previous year, while other income dropped to $0 from $85,000 [16]. - The company experienced an operating loss of $4.31 million, slightly improved from a loss of $4.34 million in the previous year [16]. - The company reported a total comprehensive expense of $4,706,000 for the year ending December 31, 2025, compared to $4,476,000 in 2024, indicating an increase of approximately 5.1% [17]. - The basic and diluted loss per share for 2025 was $(1.80), an improvement from $(1.96) in 2024, reflecting a decrease in loss of about 8.2% [17]. - The group reported a loss of approximately $4,710,000 for the year ending December 31, 2025 [30]. - The total loss attributable to shareholders was approximately $4.71 million for the year ended December 31, 2025, compared to a loss of $4.48 million for the previous year [54]. - The company incurred financing costs of $368,000 in 2025, up from $171,000 in 2024, primarily due to increased interest expenses on shareholder loans [46]. - The company recorded an operating loss of approximately $250,000 for the year ending December 31, 2025, compared to a profit of approximately $123,000 in 2024 [58]. - The company had no dividends declared or proposed for the year ended December 31, 2025, consistent with the previous year [49]. Assets and Liabilities - Total non-current assets increased to $16,000 in 2025 from $9,000 in 2024, representing a significant growth of 77.8% [18]. - Current assets decreased to $555,000 in 2025 from $601,000 in 2024, a decline of approximately 7.7% [18]. - Current liabilities rose to $(7,200,000) in 2025 from $(5,649,000) in 2024, an increase of about 27.4% [18]. - The company's total equity increased to $292,000 in 2025 from $228,000 in 2024, marking a growth of 28.1% [19]. - The net loss attributable to capital loss was $(6,641,000) in 2025, compared to $(5,901,000) in 2024, indicating a worsening of approximately 12.5% [19]. - The total assets of the group as of December 31, 2025, amounted to $571,000, with total liabilities of $7,212,000 [41]. - The net current liabilities and total liabilities as of December 31, 2025, were approximately $6,645,000 and $6,641,000, respectively [118]. Business Strategy and Market Expansion - The company is focused on expanding its commercial coverage through strategic partnerships and licensing opportunities to generate royalty and milestone revenues [12]. - Deep Longevity is expected to expand its business footprint and enhance its commercial and technical capabilities, preparing for accelerated growth in 2026, particularly in the U.S. and emerging markets like Thailand [8]. - The company aims to leverage its AI-driven aging clock and preventive health solutions to revolutionize the longevity journey, tapping into a market valued at over $6 trillion [9]. - The company anticipates continued growth in demand for innovative therapies in Asia and China, supported by regulatory reforms and increased healthcare investments [12]. - The company plans to expand its business into major international markets such as China, India, and Thailand by 2025, driven by strong demand for longevity solutions [66]. - A dedicated sales team will be established in the U.S. starting January 2026 to capitalize on the significant growth opportunities in the largest market for longevity solutions [66]. - The company is exploring licensing opportunities for Fortacin™ in the Middle East, South America, and other regions, while its partner in Japan is advancing regulatory pathways for clinical studies [64]. - The company is in discussions with multiple pharmaceutical companies for licensing Fortacin™ in the U.S. market to fund Phase III clinical trials, aiming for resolution by 2026 [62]. Research and Development - The company holds two patented products, including Senstend™ (Fortacin™ in China), which is expected to target an initial market of approximately 9 million patients in China, potentially increasing to over 170 million by year ten [6][8]. - Research and development expenses for the year ending December 31, 2025, were approximately $780,000, down 17.02% from $940,000 in 2024, mainly due to reduced personnel costs [57]. - The company has made significant progress in developing the Face Age clock, which estimates biological age through AI facial image analysis [72]. - The development of new products such as Face Age and Biometric Age clocks is a focus for 2025, with enhancements to user experience and functionality [70]. - Key optimizations include a personalized recommendation engine that integrates allergy history, regional dietary patterns, and biomarker data [68]. Corporate Governance - The company is committed to maintaining high standards of corporate governance to sustain investor confidence and ensure long-term sustainability [10]. - The company has complied with the corporate governance code as of December 31, 2025 [111]. - The board has resolved not to declare a final dividend for the year ended December 31, 2025, consistent with the previous year [110]. - The company has undergone a change in auditors multiple times within a short period, indicating potential governance challenges [112]. - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2025 [117]. Financing and Capitalization - The group has a financing agreement with Galloway for up to $3,000,000 at an annual interest rate of 12% [34]. - A capitalization agreement with Galloway was established, with a total of $3,956,484 to be settled through the issuance of capitalized shares [85]. - The company utilized shareholder loans of $3,810,000 and accrued interest of $146,484 to capitalize on debt, converting these amounts into equity [122]. - The company issued 63,377,163 shares at a capitalization price of HKD 0.485 as part of a debt capitalization agreement [120]. Operational Updates - The company has integrated multiple clinics and healthcare providers into its platform, improving scalability and reducing implementation barriers [77]. - The company is enhancing its SenoClock® platform in 2025, improving functionality and scalability [67]. - Localization efforts have been made for various languages, including Chinese, Spanish, and Arabic, to support international expansion [74]. - The company has not adopted any new accounting standards that are not yet effective during the reporting period [24]. - The company is evaluating the specific impact of the new Hong Kong Financial Reporting Standard No. 18 on its consolidated financial statements, which will affect the presentation of the income statement and disclosures [26].
励晶太平洋(00575) - 2025 - 年度业绩