China In-Tech (00464) released audited results for the year ended 31 March 2026 showing a markedly smaller net loss amid a sharp revenue contraction.

Revenue and segment mix • Group revenue fell 27.4% year on year to HK$76.80 million (FY 2025: HK$105.80 million). • Electrical hair-care appliances contributed HK$39.41 million, down 47.6%, reflecting weak consumer sentiment in Europe and Asia. • Information-technology (IT) services rose 22.2% to HK$37.39 million as completed orders increased; the segment accounted for 48.7% of group sales, up from 28.9%.

Profitability • Gross profit rebounded to HK$6.80 million from a HK$5.48 million gross loss last year, lifting gross margin to 8.9% (FY 2025: –5.2%). • Distribution and administrative expenses were cut 30.3% to HK$37.98 million, helped by head-count optimisation; staff costs fell 46.1% to HK$24.67 million. • Loss attributable to shareholders narrowed 38.7% to HK$30.49 million (FY 2025: HK$49.74 million). Basic loss per share improved to HK4.51 cents from HK8.96 cents.

Balance-sheet turnaround • Cash and bank balances rose to HK$35.88 million (FY 2025: HK$11.40 million), aided by two share placements that raised a combined HK$114.00 million net. • Net current assets swung to HK$27.39 million from a HK$3.62 million deficit a year earlier. • Total equity turned positive at HK$76.87 million (FY 2025: –HK$5.44 million). • Interest-bearing borrowings declined 31.8% to HK$23.87 million.

Capital moves and investments • November 2025: issued 117.09 million new shares, raising ~HK$104.0 million for Web3.0 expansion, debt repayment and working capital. • April 2025: placed 46.00 million new shares, netting ~HK$10.0 million. • December 2025: agreed to acquire office properties in Shenzhen for RMB45.0 million (completion expected by 31 July 2026). • Invested HK$9.90 million for a 15% stake in fintech associate Panteon Fintech; share of FY 2026 loss was HK$0.24 million.

Liquidity and outlook • Management acknowledges a material uncertainty over going-concern status but is negotiating refinancing, cost controls and further fund-raising. • No dividend declared for FY 2026. • The group plans to defend hair-care appliance market share while pursuing higher-value products and expanding its IT services into Web 3.0 solutions to diversify revenue streams.

Audit emphasis Auditors issued an unmodified opinion with a material-uncertainty paragraph relating to going concern, citing continued losses and HK$67.30 million in current liabilities against HK$35.88 million cash.

Shares closed at HK$0.61 prior to the 27 April 2026 grant of 56.70 million share options (exercise price: HK$0.62) to directors and employees, vesting after 12 months.