Welcome to our dedicated page for Raytech Holding news (Ticker: RAY), a resource for investors and traders seeking the latest updates and insights on Raytech Holding stock.
Raytech Holding Limited (RAY) specializes in OEM/ODM manufacturing of premium personal care appliances, including hair styling tools and grooming devices. This page aggregates official company announcements and verified news updates for stakeholders seeking reliable information about RAY's business developments.
Access comprehensive coverage of operational milestones, product innovations, and strategic partnerships. Key updates include earnings reports, manufacturing expansions, and new product launches within the personal care appliance sector. Investors and industry professionals will find this resource essential for tracking the company's market position and innovation trajectory.
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Raytech Holding (RAY) reported financial results for the six months ended September 30, 2024, showing mixed performance. Revenue increased by 31.0% to HKD 43.2 million (US$ 5.6 million), primarily driven by strong sales in the trimmer series within personal care products. However, operating expenses rose significantly, with merchandise costs up 40.3% to HKD 34.1 million and selling, general, and administrative expenses increasing to HKD 5.2 million.
The company's income from operations decreased by 43.7% to HKD 3.9 million, while net income fell by 27.5% to HKD 4.7 million. Gross profit margin declined by 5.2% to 21.2%. The trimmer series became the largest revenue contributor at HKD 20.9 million, while hair styling series generated HKD 19.1 million. The increase in expenses was largely attributed to higher salaries, transport costs, and IPO-related legal fees.
Raytech Holding (RAY) held its 2024 Annual Meeting of Shareholders on October 23, 2024, in Hong Kong. During the meeting, shareholders approved three key items: the re-election of all five current directors, the appointment of WWC, P.C. as the company's independent registered public accounting firm for fiscal year ending March 31, 2025, and the approval of the Raytech Holding 2024 Equity Incentive Plan.
Raytech Holding (RAY) reported strong financial results for the fiscal year ended March 31, 2024. The company's revenue increased by 47.1% to HKD67.0 million (US$8.6 million), driven by significant growth in hair styling and trimmer product sales, as well as new tooling revenue. Income from operations grew by 57.9% to HKD11.4 million (US$1.5 million), while net income also expanded by 57.9% to HKD9.9 million (US$1.3 million).
The company effectively managed expenses, with a slight decrease in staff costs and reductions in depreciation and selling and marketing costs. Earnings per share increased to HKD0.62, up from HKD0.39 in the previous year. RAY recently completed its IPO, raising total gross proceeds of US$6,452,332.
Raytech Holding (RAY), based in Hong Kong and specializing in personal care electrical appliances, closed the sale of an additional 113,083 ordinary shares as part of the underwriters’ over-allotment option in connection with its IPO. The shares were sold at $4 per share, less underwriting discounts, raising an additional $452,332. This brings the total gross proceeds from the IPO to approximately $6,452,332 before underwriting discounts and offering expenses. Key underwriters include Revere Securities, R.F. Lafferty & Co., and Dominari Securities The IPO prospectus is available through Revere Securities or the SEC website.
Raytech Holding (RAY), a Hong Kong-based personal care electrical appliances company, pre-announced its financial results for the fiscal year ending March 31, 2024. The company reported total sales of approximately HKD67.0 million, a 47.1% increase from last year's HKD45.5 million. This growth was driven by a significant rise in sales of major products and tooling programs. Personal care appliances generated HKD60.0 million in revenue, up 41.5% year-over-year, while tooling sales grew by 123.4% to HKD7.0 million. RAY also expects to report an operating income of HKD11.3 million, a 57.9% increase, and a net income of HKD9.9 million, up from HKD6.3 million in 2023. CEO CHING Tim Hoi highlighted the company's commitment to innovation, strategic market expansion, and cost optimization to drive profitability.
Raytech Holding (RAY), headquartered in Hong Kong, has successfully closed its $6 million initial public offering (IPO) as of May 17, 2024. The company specialized in the design, sourcing, and wholesale of personal care electrical appliances. The IPO consisted of 1,500,000 ordinary shares at $4 per share, generating gross proceeds of $6 million before deducting underwriting discounts and other expenses. The shares began trading on Nasdaq Capital Market under the ticker symbol 'RAY' on May 15, 2024. Revere Securities served as the representative underwriter, with R.F. Lafferty & Co., Inc. as joint book runner, and Dominari Securities as co-manager. The proceeds will be allocated to brand promotion and marketing, recruitment of personnel, strategic investments and acquisitions, and general working capital.
Raytech Holding (RAY), a Hong Kong-based company specializing in personal care electrical appliances, announced the pricing of its initial public offering (IPO) of 1,500,000 ordinary shares at $4 per share, totaling $6 million. The shares are listed on the Nasdaq Capital Market under the ticker symbol 'RAY'. An additional option for underwriters to purchase 225,000 shares has been granted. The IPO is expected to close on May 17, 2024, subject to customary conditions. Proceeds will be allocated to brand promotion, recruitment, strategic investments, and working capital. Revere Securities acted as a representative for the underwriters.
