Asia Strategy Digit Technology Holdings Limited reported FY2025 revenue of RMB276.52 million, down 21.5% year-on-year, driven mainly by a sharp contraction in umbrella-parts sales.

Gross profit fell 35.5% to RMB20.46 million, compressing gross margin to 7.2% (2024: 8.8%). After recognising a RMB10.11 million impairment on property, plant and equipment and finance costs of RMB3.61 million, the group swung to a net loss of RMB10.12 million versus a RMB10.88 million profit a year earlier. Basic loss per share was RMB2.45 cents; no final dividend was declared.

Product mix shifted toward finished goods: • POE umbrellas: RMB53.85 million, +24.1% • Nylon umbrellas: RMB145.73 million, +0.6% • Umbrella parts: RMB76.94 million, ‑53.4%

Japan remained the largest market at RMB119.41 million (43% of revenue), followed by mainland China at RMB78.80 million (29%) and Cambodia at RMB56.18 million (20%). Exports accounted for 71% of total sales.

Operating expenses moved unevenly: selling and distribution outlays dropped 12.5% to RMB13.59 million, while administrative expenses rose 8.1% to RMB39.74 million, reflecting higher staff costs and R&D spending. A RMB32.12 million reversal of expected-credit losses partly cushioned the earnings impact.

Cash and liquidity indicators weakened modestly. Cash and pledged deposits totalled RMB21.84 million, down from RMB26.99 million, while short-term bank borrowings increased to RMB99.12 million. The current ratio stood at 2.24x (2024: 2.31x) and the gearing ratio rose to 53% (2024: 45%).

Working-capital efficiency deteriorated: inventory days lengthened to 181 (2024: 142), trade-receivable days to 154 (2024: 107), and trade-payable days to 63 (2024: 55). Inventories and trade receivables closed the year at RMB117.64 million and RMB118.58 million, respectively.

Total assets amounted to RMB400.00 million with net assets of RMB240.72 million. Management plans to focus on downstream distribution and brand building to lift margins and is exploring diversification opportunities, according to the accompanying outlook statement. No material capital commitments or contingent liabilities were reported at year-end.