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Raytech Holding Limited Ordinary Shares (symbol: RAY) is a prominent name in the realm of personal care products, focusing extensively on designing and manufacturing a broad spectrum of high-quality personal care electrical appliances. The company's core business revolves around the development and production of items under Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM) models, catering to both men's and women's personal care needs.
Raytech's product portfolio is impressively diverse and can be classified into seven major categories:
- Hair Styling Series: Includes products such as hair dryers, hair straighteners, and curling irons designed to offer versatile hair styling options.
- Trimmer Series: Features facial shavers, nose trimmers, and eyebrow trimmers, delivering precise grooming solutions.
- Eyelash Curler: Provides tools for enhancing the curl and appeal of eyelashes.
- Neck Care Series: Focuses on products aimed at improving neck health and comfort.
- Nail Care Series: Comprises tools and devices for maintaining healthy and attractive nails.
- Tooling: Offers specialized tools for personal care applications.
- Other Personal Care Appliances: Encompasses a variety of innovative products like body and facial brushes, reset brushes, callus removers, sonic peeling devices, handy fans, and more.
Raytech is known for its commitment to innovation, quality, and user-centric design. The company's dedication to continuous improvement and customer satisfaction has enabled it to establish strong partnerships and a loyal customer base globally. Recent achievements include product line expansions and advancements in technology to enhance user experience and meet evolving market demands.
Financially, Raytech Holding Ltd maintains a robust position, driven by consistent revenue growth and strategic investments in research and development. The company is also actively engaged in sustainable practices, ensuring that its products not only cater to modern-day needs but also adhere to environmental standards.
Raytech's ongoing projects and future plans reflect its vision of being a leader in the personal care industry, with a clear focus on driving innovation and excellence. As the company continues to evolve, it remains steadfast in its mission to deliver superior personal care solutions that improve the everyday lives of its customers.
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.
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