APR 1·Stock Titan▼
Nasdaq warns Reitar Logtech (Nasdaq: RITR) over sub-US$1.00 share price
Nasdaq has notified Reitar Logtech (RITR) that it is not in compliance with its listing rule due to its Class A ordinary shares trading below US$1.00 for 30 consecutive business days. The company has 180 calendar days, until September 22, 2026, to regain compliance by having its closing bid price at or above US$1.00 for at least 10 consecutive business days. Reitar Logtech's business operations are unaffected, and management plans to monitor the share price and may consider options like a reverse share split to meet Nasdaq's requirements.
APR 1·Stock Titan▼
Reitar Logtech (RITR) swings to H1 2025 loss as revenue drops 71%
Reitar Logtech Holdings (RITR) reported a significant net loss of HK$42.9 million for the first half of fiscal year 2025, a sharp decline from a net income of HK$24.3 million in the prior year. This downturn was primarily due to a 71% drop in revenue to HK$55.5 million, as major construction projects neared completion, and operating expenses more than doubled due to higher staff costs, increased credit loss allowances, and a substantial impairment charge. Despite these losses, the company expanded its balance sheet through the acquisition of Jingxing Holdings Limited and is strategically shifting towards medium- and large-scale projects and cold chain operations to stabilize future revenue and margins.
