$RITRF

Reitar Logtech Holdings Ltd

CIK:0001951229|SEC Filings

Consolidated Statements of Income and Comprehensive Income	12 Months Ended
	Mar. 31, 2026 HKD ($) $ / shares shares	Mar. 31, 2026 USD ($) $ / shares shares	Mar. 31, 2025 HKD ($) $ / shares shares	Mar. 31, 2024 HKD ($) $ / shares shares
REVENUE
Total revenue	$ 222,024,330	$ 28,319,430	$ 378,169,751	$ 251,979,875
COST OF REVENUE
Total cost of revenue	(206,511,688)	(26,340,777)	(318,110,790)	(187,920,609)
Gross profit	15,512,642	1,978,653	60,058,961	64,059,266
OPERATING EXPENSES
Personnel and benefit expense	(21,423,994)	(2,732,652)	(17,572,985)	(15,509,419)
Depreciation of property and equipment	(2,227,342)	(284,100)	(2,435,879)	(2,391,477)
Amortization of operating lease	(3,347,078)	(426,923)	(2,859,872)	(2,455,945)
Amortization of intangible assets	(2,198,812)	(280,461)
Professional fee	(7,304,449)	(931,690)	(4,334,763)	(3,207,518)
Provision for expected credit losses	(79,620,079)	(10,155,622)	(16,802,195)	(7,022,680)
Others	(8,220,089)	(1,048,481)	(6,283,703)	(5,287,115)
Total operating expenses	(124,341,843)	(15,859,929)	(50,289,397)	(35,874,154)
INCOME (LOSS) FROM OPERATION	(108,829,201)	(13,881,276)	9,769,564	28,185,112
OTHER INCOME (EXPENSES)
Bank interest income	268,049	34,190	849,735	195,319
Interest expense	(8,730,144)	(1,113,539)	(2,692,394)	(1,486,629)
Other income	13,483,967	1,719,894	967,218	41,800
Other expense	(17,472)	(2,229)	(22,084)	(1,600)
Impairment loss on goodwill	(35,124,140)	(4,480,120)		(1,500,000)
Fair value loss on promissory note	(6,731,190)	(858,570)
Total other income (expenses), net	(36,850,930)	(4,700,374)	(897,525)	(2,751,110)
INCOME (LOSS) BEFORE INCOME TAX EXPENSES	(145,680,131)	(18,581,650)	8,872,039	25,434,002
INCOME TAX EXPENSES	(1,818,700)	(231,977)	(6,431,499)	(5,806,012)
NET INCOME (LOSS) AND TOTAL COMPREHENSIVE INCOME (LOSS)	(147,498,831)	(18,813,627)	2,440,540	19,627,990
Less: net (loss) income and total (loss) income attributable to non-controlling interests from continuing operation	5,566,259	709,982	(5,428,991)	(131,456)
NET INCOME (LOSS) AND TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO THE COMPANY’S ORDINARY SHAREHOLDERS AND TOTAL COMPREHENSIVE INCOME	$ (153,065,090)	$ (19,523,609)	$ 7,869,531	$ 19,759,446
Weighted average number of ordinary shares:
Basic (in Shares)	61,462,175	61,462,175	61,462,175	60,000,000
Diluted (in Shares)	61,462,175	61,462,175	61,462,175	60,000,000
Earnings per ordinary share – basic and diluted
Ordinary shareholders, basic (in Dollars per share and Dollars per share) \| (per share)	$ (2.49)	$ (0.32)	$ 0.13	$ 0.33
Ordinary shareholders, diluted (in Dollars per share and Dollars per share) \| (per share)	$ (2.49)	$ (0.32)	$ 0.13	$ 0.33
External
REVENUE
Total revenue	$ 221,279,469	$ 28,224,422	$ 376,679,376	$ 250,237,197
COST OF REVENUE
Total cost of revenue	(169,831,449)	(21,662,175)	(301,547,005)	(187,920,609)
Related Parties
REVENUE
Total revenue	744,861	95,008	1,490,375	1,742,678
COST OF REVENUE
Total cost of revenue	$ (36,680,239)	$ (4,678,602)	$ (16,563,785)

Consolidated Statements of Cash Flows	12 Months Ended
Consolidated Statements of Cash Flows	Mar. 31, 2026 HKD ($)	Mar. 31, 2026 USD ($)	Mar. 31, 2025 HKD ($)	Mar. 31, 2024 HKD ($)
Cash flows from operating activities
Net income (loss)	$ (147,498,831)	$ (18,813,627)	$ 2,440,540	$ 19,627,990
Adjustments to reconcile net income to net cash provided by operating activities
Interest expenses on promissory note	560,131	71,445
Depreciation of property and equipment	3,197,847	407,889	2,653,382	2,391,477
Amortization of intangible assets	2,198,812	280,461
Amortization of operating lease right-of-use assets	16,484,583	2,102,625	2,859,872	2,455,945
Provision for expected credit losses	79,620,079	10,155,622	16,802,195	7,022,680
Gain on deconsolidation of subsidiaries	(12,142,060)	(1,548,732)
Impairment loss on goodwill	35,124,140	4,480,120		1,500,000
Fair value loss on promissory note	6,731,190	858,570
Changes in operating assets and liabilities
Inventories	(540,467)	(68,937)
Contracts receivable	(69,376,515)	(8,849,044)	(11,509,902)	(12,899,645)
Contract assets	25,145,527	3,207,339	(32,110,701)	(44,557,145)
Retention receivables	465,172	59,333	(256,448)	333,868
Prepaid expenses and other receivables	(60,257,876)	(7,685,954)	(35,095,677)	184,146
Deferred tax assets	(3,127,225)	(398,881)
Tax recoverable	(124,746)	(15,911)
Accounts payable	24,538,513	3,129,912	1,554,999	6,038,104
Accrued expenses and other payables	47,888,279	6,108,200	(4,517,741)	(6,520,805)
Contract liabilities	(10,689,963)	(1,363,516)	(5,410,013)	5,499,632
Tax payable	1,038,774	132,497	3,340,957	3,053,978
Operating lease liabilities	(14,045,150)	(1,791,473)	(3,106,080)	(2,866,653)
Deferred tax liabilities	(362,804)	(46,276)
Net cash used in operating activities	(75,172,590)	(9,588,338)	(62,354,617)	(18,736,428)
Cash flows from investing activities
Purchase of property and equipment	(2,673,316)	(340,984)	(3,915,836)	(517,697)
Acquisition of a subsidiaries	5,943,222	758,064	(1,057,302)	(1,000,000)
Deconsolidation of subsidiaries	(277,059)	(35,339)
Long-term investment	(741,752)	(94,611)	(1,176,541)	(10,508,784)
Loan to third parties			(2,600,000)	(800,000)
Advance to related parties	(4,181,538)	(533,359)	(12,607,377)	(17,406,158)
Net cash used in investing activities	(1,930,443)	(246,229)	(21,357,056)	(30,232,639)
Cash flows from financing activities
Proceeds from bank borrowings	271,102,202	34,579,362	229,012,516	81,636,675
Repayment for bank borrowings	(239,591,537)	(30,560,146)	(191,506,139)	(59,191,113)
Proceeds from other loan			1,000,000
Repayment for other loan	(778,000)	(99,235)	(222,000)
Proceeds from promissory note	15,680,000	2,000,000
Deferred offering costs			(1,730,666)	(1,075,920)
Proceeds from IPO, net			67,406,579
Repayment from related parties	119,883	15,290	524,016	5,436,308
Advance to related parties	(19,014)	(2,425)
Net cash provided by financing activities	46,513,534	5,932,846	104,484,306	26,805,950
Net (decrease) increase in cash and cash equivalents and restricted cash	(30,589,499)	(3,901,721)	20,772,633	(22,163,117)
Cash and cash equivalents and restricted cash at the beginning of the year	45,222,756	5,768,208	24,450,123	46,613,240
Cash and cash equivalents and restricted cash at the end of the year	14,633,257	1,866,487	45,222,756	24,450,123
Supplementary cash flow information
Interest received	268,049	34,190	849,735	195,319
Interest paid	(8,730,144)	(1,113,539)	(2,692,394)	(1,486,629)
Income tax paid	(4,396,923)	(560,832)	(3,090,542)	(2,752,034)
Supplemental schedule of non-cash investing and financing activities:
Initial recognition of operating lease liabilities related to right-of-use-assets	164,834,828	$ 21,024,850
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	8,633,257		20,396,353
Restricted cash	6,000,000		24,826,403
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows	$ 14,633,257		$ 45,222,756	$ 24,450,123

Consolidated Balance Sheets	Mar. 31, 2026 HKD ($)	Mar. 31, 2026 USD ($)	Mar. 31, 2025 HKD ($)
CURRENT ASSETS
Cash and cash equivalents	$ 8,633,257	$ 1,101,181	$ 20,396,353
Restricted cash	6,000,000	765,306	24,826,403
Inventories	540,467	68,937
Contracts receivable, net	91,296,831	11,645,004	32,124,233
Contract assets, net	65,563,007	8,362,628	91,098,639
Retention receivables, net	129,083	16,465	582,575
Prepaid expenses and other receivables, net	58,942,390	7,518,162	97,235,469
Tax recoverable	124,746	15,911
Total current assets	248,013,546	31,634,380	278,865,899
NON-CURRENT ASSETS
Long-term investment	12,427,078	1,585,086	11,685,326
Property and equipment, net	5,900,679	752,638	5,778,998
Right-of-use assets, net	151,133,253	19,277,201	2,364,824
Rental deposits, net	11,511,625	1,468,320
Intangible assets	24,186,925	3,085,067
Goodwill	193,445,481	24,674,168	35,124,140
Deferred tax assets	3,127,225	398,881
Total non-current assets	401,732,266	51,241,361	54,953,288
Total assets	649,745,812	82,875,741	333,819,187
CURRENT LIABILITIES
Bank borrowings	109,870,617	14,014,109	78,359,952
Other loan			778,000
Accounts payable	43,065,781	5,493,084	24,288,797
Accrued expenses and other payables	10,751,454	1,371,361	2,443,882
Dividend payable	7,880,000	1,005,102
Tax payable	15,695,246	2,001,944	12,078,618
Contract liabilities	41,475,189	5,290,203	53,953,394
Operating lease liabilities	25,887,386	3,301,963	2,364,824
Total current liabilities	257,927,923	32,898,971	176,434,734
NON-CURRENT LIABILITIES
Operating lease liabilities	127,694,936	16,287,619
Deferred tax liabilities	3,990,843	509,036
Debt host of promissory notes	10,919,096	1,392,742
Embedded derivative of promissory notes	12,052,225	1,537,273
Total non-current liabilities	154,657,100	19,726,670
Total liabilities	412,585,023	52,625,641	176,434,734
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY
Ordinary shares, value
Additional paid-in capital	130,389,486	16,631,312	65,289,486
Retained earnings (accumulated losses)	(55,307,821)	(7,054,569)	97,757,269
Equity attributable to owners of the Company	75,081,690	9,576,746	163,046,780
Non-controlling interests	162,079,099	20,673,354	(5,662,327)
Total shareholders’ equity	237,160,789	30,250,100	157,384,453
Total liabilities and shareholders’ equity	649,745,812	82,875,741	333,819,187
Class A Ordinary Shares
SHAREHOLDERS’ EQUITY
Ordinary shares, value	18	2	18
Class B Ordinary Shares
SHAREHOLDERS’ EQUITY
Ordinary shares, value	7	1	7
Related Parties
CURRENT ASSETS
Amounts due from related companies	16,783,765	2,140,786	12,602,227
CURRENT LIABILITIES
Amounts due to related parties	$ 3,302,250	$ 421,205	$ 2,167,267