Hong Kong-listed Langu Company Limited reported its audited results for the financial year ended 31 March 2026.

Revenue and Segment Performance

• Group revenue increased 15.3% year-on-year to HK$48.39 million, driven mainly by a 192.3% surge in securities broking, placing, underwriting, investment advisory and asset-management income to HK$24.48 million (50.6% of total). • Valuation and advisory services contributed HK$22.90 million (47.3% of total), down 23.4% due to fewer mandates and last year’s disposal of a valuation subsidiary. • Financing services revenue fell 72.3% to HK$1.02 million, reflecting a smaller loan book.

Profitability

• Loss attributable to owners widened to HK$58.80 million from HK$34.59 million the previous year. • Key drivers of the larger loss were: – Net expected-credit-loss (ECL) allowances of HK$48.64 million, up 77.4% (loan & interest receivables: HK$47.59 million; trade receivables: HK$1.05 million). – Other income, gains and losses fell 50.1% to HK$7.86 million, mainly due to absence of a HK$3.46 million disposal gain booked last year and lower bank interest income. – Other expenses rose 28.9% to HK$25.28 million on higher consultancy and brokerage costs. • Basic loss per share was HK$0.36 (FY2025: HK$0.35). • The board declared no final dividend.

Balance Sheet and Liquidity

• Total assets stood at HK$384.40 million (FY2025: HK$493.27 million); net assets were HK$235.33 million. • Net current assets were HK$223.26 million. Cash and bank balances (general accounts) amounted to HK$8.42 million, with an additional HK$15.29 million in pledged deposits. • Interest-bearing borrowings declined to HK$48.04 million from HK$75.46 million; gearing (lease liabilities plus borrowings to equity) eased to 0.24 (FY2025: 0.27). • Trade receivables after ECL stood at HK$5.25 million; loan and interest receivables after ECL were HK$270.04 million.

Capital Movements

• A 1-for-20 share consolidation became effective 29 August 2024. • A 3-for-1 rights issue completed 14 October 2024 raised net proceeds of approximately HK$24.04 million. • As at year-end, 168.35 million shares of HK$0.20 par value were in issue.

Outlook Indications in Management Commentary

Management cited anticipated interest-rate cuts, expected recovery in capital-market activity and continued cross-border investment flows as supportive factors for its core advisory and securities businesses. The company plans to allocate remaining rights-issue proceeds chiefly to staff costs, business expansion and repayment of borrowings.

Dividend

No dividend was proposed for FY2026.