CL Workshop Group Limited Announces Unaudited Interim Results for the Six Months Ended June 30, 2025
CL Workshop Group Limited Announces Unaudited Interim Results for the Six Months Ended June 30, 2025 |
| [29-December-2025] |
MACAU, Dec. 29, 2025 /PRNewswire/ -- CL Workshop Group Limited (the "Company") (Nasdaq: NWGL), a global leading vertically-integrated forestry company headquartered in Macau that focuses on forest management, and manufacturing and trading of wood products and is developing carbon sink business, today announced its unaudited financial results for the six months ended June 30, 2025. The following discussion and analysis of the financial conditions and results of operations should be read in conjunction with our condensed consolidated financial statements in this filing. Overview:
Six Months Financial Results Ended June 30, 2025 Apart from the pressure of global economic downturn following the COVID-19 pandemic, the unfavorable conditions including the Russia-Ukraine war, the Israel-Palestine conflict and the downturn in property market in China continue to affect the home building and home renovation products market in Europe and China. While the ongoing geopolitical tensions and market challenges continue to impact our business, the Company has been actively implementing cost optimization strategies and exploring new revenue streams, such as carbon credit income and decorative plywood, to navigate through these turbulent times and position ourselves for future growth. Revenue. Revenue decreased by approximately 24.8% to approximately $8.9 million for the six months ended June 30, 2025 from $11.9 million for the six months ended June 30, 2024 while the revenue net of discontinued operation was $8.1 million, representing a decrease of 9.9%. The decrease in revenue was mainly due to the drop of both market demand and market prices of our products following the global economic downturn that has continuously impacted the home building and home renovation sectors. The outbreak of Chinese property sector crisis and US-China tariffs have further worsened the revenue in China. Selling and distribution expenses. Selling and distribution expenses (excluded discontinued operation portion) decreased by approximately 26.2% from approximately $1.4 million for the six months ended June 30, 2024 to approximately $1 million for the six months ended June 30, 2025, which was primarily due to decrease in shipping costs, which aligned with the drop in revenue. Administrative expenses. Administrative expenses (excluded discontinued operation portion) increased by approximately 53.8% from approximately $1 million for the six months ended June 30, 2024 to approximately $1.5 million for the six months ended June 30, 2025, which was primarily due to the increase in expense for the expansion of the product mix. Income tax expenses / (credits). Income tax expense mainly due to tax provision or paid amount while credits were mainly due to over-provision in respect of prior years. Profit for the period. Profit for the period was approximately $0.1 million for the six months ended June 30, 2025 while a loss incurred approximately $0.6 million for the six months ended June 30, 2024. The profit for the period was mainly due to the gain on disposal of discontinued operation. Basic and diluted profit per share ("EPS"). Basic and diluted EPS were less than $0.01 per share and $0.01per share respectively for the six months ended June 30, 2025. Subsequent events
The currently issued 132,425,321 Ordinary Shares be and are re-designated and re-classified into (i) 92,932,850 Class B Ordinary Shares with 50 votes per share at a general meeting of the Company or on any shareholders' resolutions and the other rights attached and (ii) 39,492,471 Class A Ordinary Shares with 1 vote per share at a general meeting of the Company or on any shareholders' resolutions and the other rights attached to it; the remaining authorized but unissued 7,867,574,679 Ordinary Shares be and are re-designated and re-classified into (i) 7,480,507,529 Class A Ordinary Shares on a one for one basis and (ii) 387,067,150 Class B Ordinary Shares on a one for one basis. The Share Reorganization has become effective on December 29, 2025. About CL Workshop Group Limited We are a global leading vertically-integrated forestry company headquartered in Macau that focuses on FSC business operations. Our operations cover both up-stream forest management and harvesting, and down-stream wood-processing and distribution. We offer a broad line of products, including logs, decking, flooring, sawn timber, primarily through our worldwide network. In addition, we intend to capture the significant growth in the carbon market through carbon asset development, carbon trading and other related business by taking the advantage of our own concession rights reserves and professional FSC forest management team. Forward-Looking Statements This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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.
SOURCE CL Workshop Group Limited | ||
Company Codes: NASDAQ-CM:NWGL,NASDAQ-NMS:NWGL |
View original content:
