J-Long Group Limited Announces First Half 2025 Unaudited Financial Results | JL Stock News

HONG KONG, Dec. 23, 2025 (GLOBE NEWSWIRE) -- J-Long Group Limited (“JL” or the “Company”) (NASDAQ: JL), JL conducts its primary operations of apparel trims solution services in Hong Kong, today announced its unaudited financial results for the six months ended September 30, 2025. Overview: Delivers Strong First Half 2025 Results: Revenue growth by 19.3% and Adjusted EBITDA growth by 40.3% compared to the same period in 2024Revenue was approximately US$22.7 million for the six months ended September 30, 2025, representing a strong growth of approximately 19.3% from the same period in 2024 on robust customer demand.Adjusted EBITDA was approximately US$3.9 million for the six months ended September 30, 2025, achieving 40.3% growth with the same period in 2024 (2024: approximately US$2.8 million). “We are very pleased with our strong first-half results and encouraged by the continuing positive momentum in our business,” said Edwin Chun Yin Wong, Chief Executive Officer. “Driven by robust customer demand and favorable feedback on our recent product developments, along with a healthy pipeline of inquiries, we anticipate continued strong performance through the end of the fiscal year and believe we are well positioned for future revenue growth.” Use of Non-GAAP Financial Measure We use earnings before interest expenses and income, income tax expense/(benefit) and depreciation, and amortization ("EBlTDA”) and adjusted EBITDA, non-GAAP financial measures, in evaluating our operating results and for financial and operational decision-making purposes. EBlTDA represents net profit excluding income tax expense/(benefit), interest expenses, interest income and depreciation and amortization. Adjusted EBITDA represents net loss excluding changes in share-based awards expense, income tax expense/(benefit), interest expense, interest income and depreciation and amortization. We believe that the adjusted EBITDA helps to identify underly trends in our business that could otherwise be distorted by the effect of certain expenses that we are included in net loss. We believe that adjusted EBITDA provided useful information about our operating results, enhance the overall understanding of our past performance and future prospect and allow for greater visibility with respect to key metrics used by our management uses in its financial and operational decision making, In additions, the company provides EBITDA because we believe that investors and analysts may find it useful in measuring operating performance without regard to items such as income tax expense/(benefit), interest expenses and interest income and depreciation and amortization. For the six months endedSeptember 30, 2024 2025 USD USD (Unaudited) (Unaudited) Net income attributable to ordinary shareholders 2,308,377 2,302,875 Add: Income tax expense 471,820 676,643 Interest expenses 57,540 35,221 Interest income (115,827) (209,466)Depreciation 85,350 176,626 EBITDA 2,807,260 2,981,899 Add: Share-based awards - 955,916 Adjusted EBITDA 2,807,260 3,937,815 Six Month Financial Results Ended September 30, 2025 Revenue. Revenue increased by approximately 19.3% from approximately US$19.0 million for the six months ended September 30, 2024, to approximately US$22.7 million for the six months ended September 30, 2025. The growth in revenue during the six-month period ended September 30, 2025, was driven by stronger demand from key customers. Selling, general and administrative expenses. Selling, general and administrative expenses increased by approximately 59.5% from approximately US$2.9 million for the six months ended September 30, 2024, to approximately US$4.6 million for the six months ended September 30, 2025, which was mainly due to share-based awards recognized in respect of awards granted to five members. Other income, net. Other net income increased by approximately US$0.1 million from approximately US$0.4 million for the six months ended September 30, 2024, to approximately US$0.5 million for the six months ended September 30, 2025, which was mainly due to an increase in interest income. Income tax expense. Income tax expense increased to US$0.7 million for the six months ended September 30, 2025 (for the six months ended September 30, 2024: approximately US$0.5 million) which was mainly due to the increase in income before tax in the current period. Net income. For the six months ended September 30, 2025, net income was approximately US$2.3 million, consistent with the prior year period (2024: approximately US$2.3 million). Basic and diluted EPS. Basic and diluted EPS were approximately US$0.62 per ordinary share for the six months ended September 30, 2025, as compared to US$0.74 per ordinary share for the six months ended September 30, 2024, respectively. Liquidity and Capital Resources As of September 30, 2025, the Company had cash of US$11,358,839, total current assets of US$20,371,822, and total current liabilities of US$7,289,739. Net current assets were US$13,082,083 and the working capital ratio was 2.8. As of September 30, 2025, the Company’s total assets and total liabilities amounted to US$25,663,983 and US$8,625,254, respectively. As of September 30, 2025, the Company’s total stockholder’s equity amounted to US$17,038,729 and its gearing ratio (bank loan divided by stockholder’s equity) was 6.2%. Off-Balance Sheet Arrangements The Company does not have any off-balance sheet arrangements, including arrangements that would affect its liquidity, capital resources, market risk support, credit risk support, or other benefits. About J-Long Group Limited J-Long Group Limited is an established distributor in Hong Kong of reflective and non-reflective garment trims including, among others, heat transfers, fabrics, woven labels and tapes, sewing badges, piping, zipper pullers and drawcords. The Company offers a wide range of services to cater to customers’ needs in reflective and non-reflective garment trims, including market trend analysis, product design and development and production and quality control. For more information, visit the Company’s website at http://j-long.com. Safe Harbor Statement Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC, which are available for review at www.sec.gov. Hong Kong: J-Long Group LimitedEdwin Chun Yin Wong, CEO and Directorir@j-long.com +852 3693 2110 J-LONG GROUP LIMITEDUNAUDITED CONSOLIDATED BALANCE SHEETS As of March 31, September 30, 2025 2025 USD USD (Audited) (Unaudited) Assets Current assets: Cash and cash equivalents 10,669,134 11,358,839 Accounts receivable, net 3,102,393 4,231,847 Investment in marketable debt securities 2,220 2,220 Inventories 3,066,276 3,163,816 Notes receivable 103,522 - Prepaid expenses and other current assets, net 2,027,376 1,615,100 Due from related parties 4,634 - Total current assets 18,975,555 20,371,822 Property, plant and equipment, net 3,224,673 3,493,481 Right-of-use assets – Operating lease 983,097 1,531,941 Other non-current assets 178,786 174,713 Deferred tax assets 92,026 93,026 Total non-current assets 4,478,582 5,292,161 TOTAL ASSETS 23,454,137 25,663,983 Liabilities Current liabilities: Bank loans – current 685,016 702,949 Operating lease liabilities – current 153,579 435,701 Operating lease liabilities – current – related parties 251,567 149,188 Accounts payable 1,964,406 1,716,120 Accounts payable – related parties 2,302,962 1,779,196 Accruals and other current liabilities 679,227 787,799 Contract liabilities 427,110 140,235 Loan from related parties 200,000 429,175 Income taxes payable 423,693 1,105,748 Total current liabilities 7,087,560 7,289,739 Non-current liabilities Bank loans – non-current 706,811 345,859 Operating lease liabilities – non-current 593,749 989,656 Operating lease liabilities – non-current – related parties 21,617 - Total non-current liabilities 1,322,177 1,335,515 TOTAL LIABILITIES 8,409,737 8,625,254 Shareholders’ equity Class A ordinary shares (US$0.000375 par value each; 133,000,000 shares authorized; 1,652,701 shares issued and outstanding respectively) (1) 1,410 615 Class B ordinary shares ($US$0.000375 par value per share, 3,000,000 shares authorized; 2,109,000 issued and outstanding as of September 30, 2025) (1) - 795 Additional Paid-in Capital 6,193,646 6,193,646 Accumulated other comprehensive income/(loss) (23,364) (86,874)Non-controlling interests 405,122 388,585 Treasury stock - (245,037)Retained earnings 8,467,586 10,786,999 Total shareholders’ equity 15,044,400 17,038,729 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 23,454,137 25,663,983 (1) Retroactively adjusted for the effects of the Share Re-designation and Re-classification: On August 7, 2025, the Company implemented the re-designation and re-classification of its issued and unissued ordinary shares of par value US$0.000375 each in the share capital of the Company into Class A ordinary shares (1 vote per share) and Class B ordinary shares (20 votes per share), effective the same day. As a result, the 136,000,000 ordinary shares in the share capital of the Company were re-designated into 133,000,000 Class A ordinary shares and 3,000,000 Class B ordinary shares, and all the then issued 3,761,701 ordinary shares were concurrently re-designated and re-classified on a one-for-one basis into 1,652,701 Class A ordinary shares and 2,109,000 Class B ordinary shares. (2) Share Repurchase Program: On September 15, 2025, the board of directors of the Company approved a share repurchase program authorizing the repurchase of up to US$5,000,000 of the Company’s Class A ordinary shares in the open market over the next six months. The Company has commenced repurchases under the program. J-LONG GROUP LIMITED UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONSAND COMPREHENSIVE INCOME For the six months endedSeptember 30, 2024 2025 USD USD (Unaudited) (Unaudited) Revenues 19,024,229 22,699,837 Cost of sales 13,735,774 15,620,656 Gross profit 5,288,455 7,079,181 Operating expenses: Selling and marketing expenses 916,174 1,978,757 General and administrative expenses 1,981,326 2,641,384 Total operating expenses 2,897,500 4,620,141 Income from operations 2,390,955 2,459,040 Other income, net: Other income 172,783 256,991 Currency exchange gain 273,999 298,708 Interest expenses, net (57,540) (35,221)Total other income, net 389,242 520,478 Income before tax expense 2,780,197 2,979,518 Income tax expense 471,820 676,643 Net income attributable to ordinary shareholders 2,308,377 2,302,875 Net income (loss) attributable to non-controlling interest - (16,538) Net income attributable to J-LONG GROUP LIMITED 2,308,377 2,319,413 Other comprehensive income/(loss) Foreign currency translation adjustments - (36,176)Total other comprehensive income 2,308,377 2,283,237 Comprehensive income attributable to ordinary shareholders 2,308,377 2,283,237 Comprehensive income attributable to non-controlling interest - (16,538) Total comprehensive income attributable to J-LONG GROUP LIMITED 2,308,377 2,266,699 Net income per share attributable to ordinary shareholders Basic and diluted 0.74 0.62 Weighted average number of ordinary shares used in computing net income per share Basic and diluted 3,140,000 3,760,517