Core Viewpoint - PTL Limited, a holding company established in the British Virgin Islands, operates as a bunkering facilitator providing marine fuel logistics services primarily in the Asia Pacific market. The company reported its unaudited financial results for the first half of fiscal year 2025, highlighting a decrease in revenue and gross profit, but an increase in net income due to a reversal of expected credit loss provision [1][2][17]. Financial Performance - Revenue for the six months ended June 30, 2025, was $43,555,675, a decrease of $6,717,914 or 13.4% from $50,273,589 in the same period of 2024, attributed to a decline in sales volume from approximately 81,702 metric tons to 79,055 metric tons [3][4]. - Cost of revenue decreased by $6,124,910 or 12.5% to $43,008,979, in line with the decrease in revenue, primarily due to lower marine fuel costs [6]. - Gross profit fell by $593,004 or 52.0% to $546,696, with a gross profit margin dropping from 2.3% in 2024 to 1.3% in 2025, influenced by increased purchase costs of marine fuels [8]. - Selling, general and administrative expenses rose by $455,492 or 63.4% to $1,174,250, mainly due to increased staff costs and professional fees following the company's listing in the United States [11]. - A reversal of provision for expected credit loss of $2,401,151 was recorded, resulting from the settlement of long-aged accounts receivable [13]. - Net income increased by $889,062 or 277.5% to $1,209,506, driven by the factors mentioned above [17]. Cash Flow Analysis - Net cash used in operating activities was $8,249,616 for the six months ended June 30, 2025, primarily due to a decrease in accounts payable and an increase in prepayments [18]. - Net cash provided by financing activities amounted to $6,143,467, mainly from the issuance of ordinary shares [22]. Company Overview - PTL Limited is headquartered in Hong Kong and serves as a bunkering facilitator, providing marine fuel logistics services for various types of vessels, focusing on the Asia Pacific market [24].

Core Points - PTL Limited has received a notice from Nasdaq indicating non-compliance with the minimum market value of listing securities (MVLS) requirement of US$35 million for its Class A Ordinary Shares [1][2] - The company has until January 14, 2026, to regain compliance by maintaining an MVLS of US$35 million or more for at least ten consecutive business days [1][4] - Additionally, the company has been notified that its Class A Ordinary Shares have been trading below the minimum bid price of US$1.00 per share for the last 30 consecutive business days [3][4] - The company is provided with a 180-day compliance period to address both the MVLS and minimum bid price deficiencies [4][5] - The company intends to monitor its market value and take necessary measures to regain compliance within the grace period [2][5] Company Overview - PTL Limited is headquartered in Hong Kong and operates as a bunkering facilitator, providing marine fuel logistics services primarily for container ships, bulk carriers, general cargo vessels, and chemical tankers [6] - The company targets the Asia Pacific market and leverages its established network and partnerships within the marine fuel logistics industry to offer a one-stop solution for vessel refueling [6]