Core Viewpoint - J-Long Group Limited reported strong financial results for the first half of fiscal year 2025, with significant revenue and adjusted EBITDA growth driven by robust customer demand and positive feedback on product developments [3][7]. Financial Performance - Revenue increased by approximately 19.3%, from approximately US$19.0 million for the six months ended September 30, 2024, to approximately US$22.7 million for the same period in 2025 [6][7]. - Adjusted EBITDA grew by approximately 40.3%, reaching approximately US$3.9 million for the six months ended September 30, 2025, compared to approximately US$2.8 million in the prior year [7][10]. - Net income attributable to ordinary shareholders was approximately US$2.3 million for both periods, indicating stability despite revenue growth [10][22]. Expenses and Income - Selling, general and administrative expenses rose by approximately 59.5%, from approximately US$2.9 million in 2024 to approximately US$4.6 million in 2025, primarily due to share-based awards [8]. - Other net income increased by approximately US$0.1 million, from approximately US$0.4 million in 2024 to approximately US$0.5 million in 2025, attributed to higher interest income [9]. Tax and Earnings Per Share - Income tax expense increased to US$0.7 million for the six months ended September 30, 2025, up from approximately US$0.5 million in the previous year, reflecting higher income before tax [10]. - Basic and diluted earnings per share decreased to approximately US$0.62 for the six months ended September 30, 2025, compared to US$0.74 for the same period in 2024 [11]. Liquidity and Capital Resources - As of September 30, 2025, the company had cash of US$11.4 million, total current assets of US$20.4 million, and total current liabilities of US$7.3 million, resulting in net current assets of US$13.1 million and a working capital ratio of 2.8 [12]. - Total assets amounted to US$25.7 million, with total liabilities of US$8.6 million, leading to total stockholder's equity of US$17.0 million and a gearing ratio of 6.2% [12]. Company Overview - J-Long Group Limited is a distributor in Hong Kong specializing in reflective and non-reflective garment trims, offering services such as market trend analysis, product design, and quality control [14].