Raytech Holding Limited announced financial results for the fiscal year ended March 31, 2024, reporting a 47% increase in revenue to HKD67.0 million. Net income rose 58% to HKD9.9 million, driven by strong sales growth across product categories, particularly in hair styling and trimmer series. Gross profit margin improved to 22.3% from 25.2% the previous year.The company expanded its customer base and geographic presence, with sales to the U.S. market representing 21.9% of total revenue. Raytech's two largest customers accounted for 74.1% and 16.5% of revenue respectively. The company maintained a strong balance sheet with HKD35.9 million in cash and no debt as of March 31, 2024.Management expressed confidence in the company's growth strategy, which includes exploring new product lines like oral care appliances and expanding further into U.S. and European markets. Raytech plans to increase investments in sales and marketing to support business expansion, while continuing to leverage its design and development capabilities to strengthen relationships with international brand owners.

Raytech Holding Limited announced financial results for the fiscal year ended March 31, 2024, reporting a 47% increase in revenue to HKD67.0 million. Net income rose 58% to HKD9.9 million, driven by strong sales growth across product categories, particularly in hair styling and trimmer series. Gross profit margin improved to 22.3% from 25.2% the previous year.The company expanded its customer base and geographic presence, with sales to the U.S. market representing 21.9% of total revenue. Raytech's two largest customers accounted for 74.1% and 16.5% of revenue respectively. The company maintained a strong balance sheet with HKD35.9 million in cash and no debt as of March 31, 2024.Management expressed confidence in the company's growth strategy, which includes exploring new product lines like oral care appliances and expanding further into U.S. and European markets. Raytech plans to increase investments in sales and marketing to support business expansion, while continuing to leverage its design and development capabilities to strengthen relationships with international brand owners.