Bradaverse Education (stock code: 1082) reported revenue of HKD 21.95 million for H1 ended 31 December 2025, down 56.3%, and a loss of HKD 3.85 million. Loss attributable to shareholders was HKD 3.55 million, with basic and diluted loss per share of HKD 0.58 cents. The company did not recommend an interim dividend. By segment, private educational services revenue was HKD 17.28 million, money lending interest income was HKD 1.26 million, and VR and digital entertainment revenue was HKD 3.41 million. Management said the sharp decline in gaming product sales was driven by tighter internal controls and stricter credit approval procedures introduced in response to long-outstanding distributor receivables; sales of VR products and related services recorded no revenue in the period. Other income, gains and losses was a net gain of HKD 2.72 million, including a HKD 1.42 million reversal of impairment loss on loan receivables. As at 31 December 2025, the current ratio was 1.59x and the gearing ratio was 48.44%, while cash and cash equivalents were HKD 0.84 million and interest-bearing borrowing totaled HKD 19.49 million (repayable on demand).

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