Phoenix Plus Corp. reported its financial results for the nine months ending April 30, 2025, revealing a revenue of $320.5 million, a significant decrease of 70% compared to $1.07 billion during the same period in 2024. The company experienced a gross profit of $31.4 million, a notable recovery from a gross loss of $76.3 million in the previous year. However, the net loss for the period was $346.8 million, slightly improved from a net loss of $369.1 million in the prior year. The company's operating expenses increased to $420.0 million from $292.1 million, primarily due to higher general and administrative costs.
In terms of assets, Phoenix Plus Corp. reported total assets of $637.9 million as of April 30, 2025, down from $921.6 million as of July 31, 2024. Current assets decreased significantly to $578.2 million from $841.6 million, driven by reductions in cash and retention sum receivables. The company’s liabilities also increased, with total liabilities rising to $322.4 million from $244.6 million, largely due to an increase in trade payables and other accrued liabilities.
Operationally, Phoenix Plus Corp. has maintained its employee headcount at 332.7 million shares outstanding, consistent with the previous fiscal period. The company continues to focus on its core business of providing technical consultancy on solar power systems and green energy solutions. Despite the decline in revenue, the company has made strides in its operational efficiency, as evidenced by a reduction in the cost of revenue from $1.15 billion to $289.1 million year-over-year.
Looking ahead, Phoenix Plus Corp. has indicated a commitment to strategic growth through potential acquisitions and product launches in the renewable energy sector. The company aims to enhance its market share and improve product adoption rates, particularly in solar technologies. Management remains optimistic about future performance, citing ongoing efforts to streamline operations and adapt to market conditions, although they acknowledge the challenges posed by fluctuating demand and economic factors.
About Phoenix Plus Corp.
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