The firm's revenue contracted by 6.13% year-over-year, though it maintained a 43.53% gross margin through specialized compliance and translation services.
| Metric | Sep'24 | Sep'23 | Sep'22 |
|---|
| Sales/Revenue | 5.88M | 6.27M | 6.47M |
| Revenue Growth % | -6.13% | -3.07% | - |
| Cost of Goods Sold | 3.32M | 3.46M | 2.94M |
| COGS % of Revenue | 56.47% | 55.21% | 45.51% |
| Gross Profit | 2.56M | 2.81M | 3.52M |
| Gross Margin % | 43.53% | 44.79% | 54.49% |
| Gross Profit Growth % | -8.77% | -20.32% | - |
| Operating Expenses | 1.65M | 1.81M | 2.6M |
| OpEx % of Revenue | 28.04% | 28.91% | 40.19% |
| Selling, General & Admin | 956.28K | 951.47K | 1.82M |
| SG&A % of Revenue | 16.25% | 15.18% | 28.17% |
| Research & Development | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - |
| Other Operating Expenses | 693.5K | 860.8K | 777.88K |
| Operating Income | 911.67K | 995.37K | 924.29K |
| Operating Margin % | 15.49% | 15.88% | 14.29% |
| Operating Income Growth % | -8.41% | 7.69% | - |
| EBITDA | 1.54M | 1.8M | 1.62M |
| EBITDA Margin % | 26.16% | 28.67% | 24.98% |
| EBITDA Growth % | -14.34% | 11.25% | - |
| D&A (Non-Cash Add-back) | 627.82K | 801.81K | 691.15K |
| EBIT | 1M | 1.01M | 1.02M |
| Net Interest Income | 43.57K | -42.03K | -66.81K |
| Interest Income | 87.72K | 0 | 0 |
| Interest Expense | 44.14K | 42.03K | 66.81K |
| Other Income/Expense | 46.76K | -31.77K | 28.89K |
| Pretax Income | 958.42K | 963.6K | 953.18K |
| Pretax Margin % | 16.29% | 15.37% | 14.74% |
| Income Tax | 138.03K | 157.3K | 141.48K |
| Effective Tax Rate % | 14.4% | 16.32% | 14.84% |
| Net Income | 820.39K | 806.3K | 811.7K |
| Net Margin % | 13.94% | 12.86% | 12.55% |
| Net Income Growth % | 1.75% | -0.67% | - |
| Net Income (Continuing) | 820.39K | 806.3K | 811.7K |
| Discontinued Operations | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
| EPS (Diluted) | 0.07 | 0.06 | 0.00 |
| EPS Growth % | 1.71% | - | - |
| EPS (Basic) | 0.07 | 0.06 | 0.06 |
| Diluted Shares Outstanding | 12.5M | 12.5M | 0 |
| Basic Shares Outstanding | 12.5M | 12.5M | 12.5M |
| Dividend Payout Ratio | - | - | - |
HKEX listing cycle dependency
As reported in recent financial disclosures, ANPA experienced a 6.13% year-over-year revenue decline, reflecting the broader contraction in Hong Kong capital market activity and a reduced volume of high-margin IPO-related financial printing projects that historically serve as the firm's primary top-line growth engine.
The revenue contraction suggests that the firm's reliance on the HKEX listing cycle leaves it highly exposed to macroeconomic volatility. Investors should monitor whether the company can successfully pivot toward recurring ESG advisory services to offset the cyclicality inherent in its transactional financial printing business.
Based on the company's reported figures, ANPA maintains a gross margin of 43.53%, which appears to reflect the specialized, high-value nature of its translation and compliance services rather than a reliance on low-margin physical production inputs that are susceptible to inflationary cost pressures.
This margin profile suggests that the firm possesses a degree of pricing power derived from its specialized workforce and proximity to legal counsel. However, the sustainability of these margins remains contingent on the firm's ability to maintain its service-level agreements amidst a potential industry-wide shift toward digital-only regulatory filings.
According to the provided financial data, ANPA achieved an operating margin of 15.49%, demonstrating a disciplined approach to managing administrative overhead and high-grade office lease costs despite the recent 6.13% decline in top-line revenue performance during the current fiscal period.
The ability to preserve double-digit operating margins during a revenue downturn suggests that management has effectively controlled variable costs. Nevertheless, the high fixed-cost nature of the business model warrants further investigation into whether further cost-cutting measures are feasible without compromising the quality of client service.
While the firm maintains a net margin of 13.94%, the limited cash position of $320,161, as noted in recent filings, may restrict the company's capacity to invest in the digital transformation required to compete with larger, more technologically advanced global financial printing peers.
Short-term investors should consider the risk that the firm's current business model may be structurally impaired by a permanent transition to digital-only compliance. The lack of significant cash reserves may leave the company vulnerable if it is forced to accelerate capital expenditure to remain relevant in a changing regulatory landscape.
Quick answers to the most common questions about buying ANPA stock.
For fiscal year 2024, Rich Sparkle Holdings Limited Ordinary Shares (ANPA) reported total revenue of $5.9M. This represents a 9.0% decline compared to $6.5M in 2022.
Rich Sparkle Holdings Limited Ordinary Shares (ANPA) is profitable, generating $0.8M in net income for the fiscal year ending 2024 with a net profit margin of 13.9%.
Rich Sparkle Holdings Limited Ordinary Shares (ANPA) reported an operating income of $0.9M, resulting in an operating profit margin of 15.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Rich Sparkle Holdings Limited Ordinary Shares (ANPA) generated $2.6M in gross profit for the year, representing a gross profit margin of 43.5%. This demonstrates the company's core pricing power and production efficiency.