Raytech Holding Limited Ordinary Shares (RAY) 6-K Report of Foreign Private Issuer

Exhibit 99.1

RAYTECH HOLDING LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

	As of March 31,		(Unaudited) As of September 30,
	2024		2024		2024
	HKD		HKD		US$
ASSETS
CURRENT ASSETS
Cash and cash equivalents		35,885,666		81,047,102		10,431,712
Accounts receivable, net		14,557,523		13,476,241		1,734,550
Amount due from a director		145,166		–		–
Merchandise inventories, net		1,855,686		1,135,068		146,096
Taxes receivables		395,005		104,085		13,397
Prepayments		5,000		5,000		644
TOTAL CURRENT ASSETS		52,844,046		95,767,496		12,326,399
NON-CURRENT ASSETS
Property and equipment, net		–		–		–
Deferred initial public offering costs		5,252,768		–		–
Long-term deposits		16,200		16,200		2,085
TOTAL NON-CURRENT ASSETS		5,268,968		16,200		2,085
TOTAL ASSETS		58,113,014		95,783,696		12,328,484
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts payable		732,340		1,098,929		141,445
Accounts payable - related party		24,278,340		20,418,181		2,628,059
Accruals		1,018,618		920,901		118,531
Contract liabilities		1,008,415		-		-
TOTAL CURRENT LIABILITIES		27,037,713		22,438,011		2,888,035
TOTAL LIABILITIES		27,037,713		22,438,011		2,888,035
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY
Ordinary Shares, US$0.00000625 par value, 8,000,000,000 Ordinary Shares authorized, 16,000,000 shares and 17,613,083 shares issued and outstanding as of March 31, 2024 and September 30, 2024, respectively(1)		783		862		110
Additional paid-in capital		99,217		37,717,487		4,854,683
Retained earnings		30,975,301		35,627,336		4,585,656
TOTAL SHAREHOLDERS’ EQUITY		31,075,301		73,345,685		9,440,449
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		58,113,014		95,783,696		12,328,484

⁽¹⁾ 1,500,000 ordinary shares were issued on May 15, 2024, and 113,083 ordinary shares were issued on July 5, 2024.

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

F-1

RAYTECH HOLDING LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME

	(Unaudited) For the Six Months ended September 30,
	2023			2024			2024
	HKD			HKD			US$
REVENUE
Sales of products		26,011,185			42,101,829			5,418,999
Sales of tooling		7,006,014			1,147,077			147,642
		33,017,199			43,248,906			5,566,641
OPERATING EXPENSES
Merchandise costs		(24,305,564	)		(34,100,724	)		(4,389,163	)
Selling, general and administrative expenses		(1,751,531	)		(5,229,459	)		(673,093	)
Total operating expenses		(26,057,095	)		(39,330,183	)		(5,062,256	)
INCOME FROM OPERATIONS		6,960,104			3,918,723			504,385
OTHER INCOME (EXPENSE)
Interest income		615,405			1,431,474			184,248
Interest expense		(1,657	)		–			–
Loss from foreign currency exchange		(16,334	)		(407,242	)		(52,417	)
Total other income, net		597,414			1,024,232			131,831
INCOME BEFORE INCOME TAX PROVISION		7,557,518			4,942,955			636,216
PROVISION FOR INCOME TAXES		(1,139,449	)		(290,920	)		(37,445	)
NET INCOME		6,418,069			4,652,035			598,771
WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES
Basic and diluted(1)		16,000,000			17,184,908			17,184,908
EARNINGS PER SHARE
Basic and diluted		0.40			0.27			0.03

⁽¹⁾ 1,500,000 ordinary shares were issued on May 15, 2024, and 113,083 ordinary shares were issued on July 5, 2024.

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

F-2

RAYTECH HOLDING LIMITED
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

	Ordinary shares				Additional				Total
	No. of Shares(1)		Par Value		Paid-in Capital		Retained Earnings		Shareholders’ Equity
			HKD		HKD		HKD		HKD
For the six months ended September 30, 2023:
BALANCE, March 31, 2023		16,000,000		783		99,217		21,038,507		21,138,507
Net income		–		–		–		6,418,069		6,418,069
BALANCE, September 30, 2023		16,000,000		783		99,217		27,456,576		27,556,576
For the six months ended September 30, 2024:
BALANCE, March 31, 2024		16,000,000		783		99,217		30,975,301		31,075,301
Initial Public Offering of shares		1,613,083		79		37,618,270		–		37,618,349
Net income		–		–		–		4,652,035		4,652,035
BALANCE, September 30, 2024		17,613,083		862		37,717,487		35,627,336		73,345,685
BALANCE, September 30, 2024 (US$)				110		4,854,683		4,585,656		9,440,449

⁽¹⁾ 1,500,000 ordinary shares were issued on May 15, 2024, and 113,083 ordinary shares were issued on July 5, 2024.

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

F-3

RAYTECH HOLDING LIMITED

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	(Unaudited) For the Six Months ended September 30,
	2023			2024			2024
	HKD			HKD			US$
Cash flows from operating activities
Net income		6,418,069			4,652,035			598,771
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation of property and equipment		2,928			-			-
Amortization of right-of-use asset		51,286			-			-
Loss from unrealized foreign currency translation		17,918			406,530			52,325
Changes in operating assets and liabilities
Accounts receivable, net		(654,485	)		978,597			125,957
Merchandise inventories, net		(681,683	)		720,618			92,752
Prepayments		54,000			-			-
Accounts payable		(150,807	)		372,876			47,994
Accounts payable - related party		12,178,316			(3,694,385	)		(475,511	)
Accruals		(203,832	)		(97,717	)		(12,577	)
Contract liabilities		(1,705,854	)		(1,008,415	)		(129,795	)
Operating lease obligation		(52,344	)		-			-
Taxes receivables		-			290,920			37,445
Taxes payables		1,139,449			-			-
Net cash provided by operating activities		16,412,961			2,621,059			337,361
Cash flows from investing activities
Repayment of amount due from a director		210,702			145,166			18,684
Net cash provided by investing activities		210,702			145,166			18,684
Cash flows from financing activities
Proceed from Initial Public Offering of shares		-			42,772,241			5,505,289
Deferred initial public offering cost		(257,702	)		-			-
Net cash (used in)/from financing activities		(257,702	)		42,772,241			5,505,289
Change in cash		16,365,961			45,538,466			5,861,334
Effect of foreign exchange on cash		35,039			(377,030	)		(48,528	)
Cash at the beginning of the period		21,362,580			35,885,666			4,618,906
Cash at the end of the period		37,763,580			81,047,102			10,431,712
Supplementary cash flow information
Cash paid for income tax		–			–			–
Cash paid for interest expense		–			–			–

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.

F-4

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