Phoenix Asia Holdings Limited Reports Unaudited Interim Financial Results for the Six-Month Period Ending September 30, 2025

(SeaPRwire) –   Hong Kong, March 31, 2026 — Phoenix Asia Holdings Limited (“PHOE” or the “Company”) (Nasdaq: PHOE) is an exempted limited liability company incorporated in the Cayman Islands with no significant independent operations. Through its indirectly wholly-owned operating subsidiary, Winfield Engineering (Hong Kong) Limited, the Company focuses on substructure projects in Hong Kong, including site formation, ground investigation, and foundation works. The Company has released its unaudited financial results for the six-month period ended September 30, 2025.

First Half of 2025 Financial and Operating Highlights

	●	Total revenue decreased by 7.3% from US$3,789,610 to US$3,511,591
	●	Gross profit decreased by 31.4% from US$1,080,232 to US$741,443
	●	Net income and total comprehensive income decreased by 68.6% from US$631,441 to US$198,336

Mr. Chi Kin Kelvin Yeung, Chief Executive Officer of the Company, stated, “Throughout our roughly 35 years of operations, we have concentrated on delivering substructure works, and we are proud of our project portfolio. During the six months ended September 30, 2025, we continued to supply high-quality substructure services to our clients while growing our business. Drawing on our proven track record, specialized expertise, and seasoned management team, we are confident in our ability to seize growth opportunities within Hong Kong’s substructure market and further expand our operations.”

FINANCIAL RESULTS

Revenue

Revenue fell by 7.3%, dropping from US$3,789,610 in the six months ended September 30, 2024, to US$3,511,591 in the corresponding period in 2025. This decline was mainly attributed to the completion of specific projects during the fiscal year ended March 31, 2025.

Cost of revenue

Cost of revenue rose by 2.2%, moving from US$2,709,378 in the six months ended September 30, 2024, to US$2,770,148 in the same period of 2025. This increase was largely driven by additional work required by variation orders on specific projects.

Gross profit and gross profit margin

Gross profit stood at US$741,443 for the six months ended September 30, 2025, compared to US$1,080,232 for the six months ended September 30, 2024. This represents a decrease of US$338,789, or 31.4%.

The drop in gross profit was primarily due to additional work necessitated by variation orders for certain projects; however, the final amounts for these variation orders are currently under negotiation with the respective clients.

Net income and total comprehensive income

Net income and total comprehensive income declined by 68.6%, falling from US$631,441 in the six months ended September 30, 2024, to US$198,336 in the six months ended September 30, 2025. This reduction was largely a result of the decrease in gross profit.

About Phoenix Asia Holdings Limited

Based in Hong Kong, Phoenix Asia Holdings Limited is primarily involved in local substructure works, including site formation, ground investigation, and foundation projects. The Company aims to establish itself as a leading substructure contractor in Hong Kong by delivering unmatched customer satisfaction, adhering to the highest standards of work and safety, and demonstrating exceptional craftsmanship and environmental stewardship. Operations are conducted through its wholly-owned Hong Kong subsidiary, Winfield Engineering (Hong Kong) Limited. Further details are available at https://ir.winfield.hk.

Forward-Looking Statements

This announcement contains forward-looking statements. These statements are subject to known and unknown risks and uncertainties and reflect the Company’s current expectations and projections regarding future events that could impact its financial condition, operational results, business strategy, and financial requirements. Investors can identify many of these statements by the use of terms such as “aim,” “anticipate,” “believe,” “estimate,” “expect,” “going forward,” “intend,” “may,” “plan,” “potential,” “predict,” “propose,” “seek,” “should,” “will,” “would,” or similar expressions. The Company assumes no obligation to publicly update or revise any forward-looking statements to reflect later events, circumstances, or changes in expectations, except as required by law. While the Company considers these expectations reasonable, it cannot guarantee their accuracy. The Company cautions that actual results may vary significantly from anticipated results and encourages investors to examine other factors influencing future performance in the Company’s registration statement and other SEC filings.

For more information, please contact:

Phoenix Asia Holdings Limited

Investor Relations Department
Email: ir@winfield.hk/