J-Long Group Limited Announces First Half 2025 Unaudited Financial Results

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 2024
• Revenue 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 ended September 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 Limited

Edwin Chun Yin Wong, CEO and Director

[email protected] +852 3693 2110

J-LONG GROUP LIMITED

UNAUDITED 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 OPERATIONS

AND COMPREHENSIVE INCOME

		For the six months ended September 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