ORIENTAL PAYMENT GROUP HOLDINGS LIMITED (“ORIENTAL PAY”) released its audited results for the year ended 31 March 2026.

Revenue dropped 56.8% year-on-year to HK$15.16 million, mainly reflecting a sharp fall in Chinese tourist arrivals that weighed on merchant acquiring activity in Thailand and marketing service income.

Gross profit slid 54.5% to HK$5.26 million, yet the gross margin held largely steady. Cost reductions in administration (-22.1% to HK$14.22 million) and selling & distribution (-24.9% to HK$17.19 million) offset part of the top-line contraction.

Finance costs rose 59.3% to HK$5.94 million, driven by higher interest on multiple tranches of convertible bonds. After these items, the attributable net loss narrowed slightly to HK$32.32 million from HK$34.21 million in FY2024/25.

The balance sheet remained stretched: • Net liabilities totalled HK$36.89 million (31 Mar 2025: HK$5.34 million). • Net current liabilities widened to HK$59.99 million. • Cash and bank balances fell to HK$0.26 million. • Gearing ratio (other long-term liabilities and convertible bonds/total equity) stood at ‑80.8%.

No dividend was declared.

Management attributed the revenue slump to safety concerns among Chinese tourists following kidnapping incidents and an earthquake in Thailand. The group plans to diversify geographically, pursue new Southeast Asian partnerships and maintain tight cost control while negotiating with creditors and bondholders.

Subsequent to year-end, ORIENTAL PAY secured additional credit facilities totalling approximately HK$28 million to support liquidity.