Virtual Mind Holding Company Limited (1520.HK)

Name: Virtual Mind Holding Company Limited Financial Statements
Creator: Quarter Results

Consumer Cyclical | Apparel Manufacturers

Latest reporting period: 2026-04-08

Latest Quarter

2026-04-08

Revenue

$23.1M

Net Income

-$42.7M

Operating Margin

-179.1%

Free Cash Flow

-$79.1M

Debt / Assets

33.3%

Values are in USD and rounded to the nearest whole number unless noted.

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Income statement quarterly history for Virtual Mind Holding Company Limited (1520.HK).
Income Statement (Quarterly)	2026-04-08	2025-06-30	2025-03-31	2024-12-31
Revenue	23,122,000	23,122,000	11,561,000	99,665,000
Cost of Revenue	22,940,000	22,940,000	11,470,000	93,439,000
Gross Profit	182,000	182,000	91,000	6,226,000
Operating Expenses
R&D Expenses	0	0	0	0
SG&A Expenses	41,582,000	41,582,000	20,791,000	40,934,000
Operating Expenses	41,582,000	41,582,000	20,791,000	40,934,000
Operating Income	-41,400,000	-41,400,000	-20,700,000	-34,708,000
Interest Expense	1,330,000	1,330,000	0	6,636,000
Income Before Tax	-42,976,000	-42,976,000	-21,488,000	-48,043,000
Income Tax Expense	-22,000	-22,000	5,500	1,693,000
Net Income	-42,660,000	-42,660,000	-21,330,000	-48,466,000
Per Share
EPS	-0.06	-0.06	-0.03	-0.08
EPS Diluted	0.00	0.00	0.00	0.00

Income statement annual history for Virtual Mind Holding Company Limited (1520.HK).
Income Statement (Annual)	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
Revenue	129,595,000	66,328,000	89,620,000	139,818,000	114,474,000
Cost of Revenue	120,568,000	55,095,000	75,560,000	101,119,000	89,517,000
Gross Profit	9,027,000	11,233,000	14,060,000	38,699,000	24,957,000
Operating Expenses
R&D Expenses	0	0	0	0	0
SG&A Expenses	54,189,000	86,126,000	78,155,000	68,267,000	61,596,000
Operating Expenses	62,775,000	86,126,000	99,469,000	66,503,000	59,150,000
Operating Income	-55,999,000	-74,764,000	-119,063,000	-27,804,000	-34,193,000
Interest Expense	6,633,000	6,318,000	3,991,000	366,000	315,000
Income Before Tax	-76,330,000	-94,639,000	-58,403,000	-46,020,000	-67,038,000
Income Tax Expense	1,717,000	-621,000	7,472,000	251,000	1,077,000
Net Income	-76,628,000	-93,749,000	-65,875,000	-46,271,000	-68,115,000
Per Share
EPS	-0.13	-0.05	-0.04	-0.03	-0.04
EPS Diluted	0.00	0.00	0.00	0.00	0.00

Balance sheet quarterly history for Virtual Mind Holding Company Limited (1520.HK).
Balance Sheet (Quarterly)	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Assets
Cash and Cash Equivalents	6,218,000	31,243,000	11,208,000	15,348,000
Short Term Investments	49,423,000	12,555,000	13,189,000	15,681,000
Net Receivables	36,801,000	82,965,000	154,215,000	0
Inventory	13,100,000	8,435,000	6,564,000	6,016,000
Total Current Assets	158,646,000	162,923,000	238,051,000	183,312,000
Property Plant Equipment	5,847,000	5,931,000	5,185,000	13,723,000
Goodwill and Intangibles	19,910,000	29,612,000	43,343,000	35,432,000
Total Assets	195,071,000	214,185,000	288,373,000	234,832,000
Liabilities
Account Payables	6,500,000	7,743,000	17,586,000	19,124,000
Short Term Debt	18,437,000	6,483,000	6,241,000	7,022,000
Total Current Liabilities	56,888,000	39,048,000	53,857,000	37,643,000
Long Term Debt	8,162,000	37,425,000	25,216,000	932,000
Total Liabilities	65,050,000	65,473,000	79,073,000	38,575,000
Shareholders Equity
Retained Earnings	-429,110,000	-358,605,000	-268,107,000	0
Total Shareholders Equity	130,957,000	148,113,000	208,432,000	196,257,000

Balance sheet annual history for Virtual Mind Holding Company Limited (1520.HK).
Balance Sheet (Annual)	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
Assets
Cash and Cash Equivalents	6,218,000	31,243,000	11,208,000	15,348,000	78,547,000
Short Term Investments	49,423,000	12,555,000	13,189,000	15,681,000	0
Net Receivables	36,801,000	82,965,000	154,215,000	0	0
Inventory	13,100,000	8,435,000	6,564,000	6,016,000	11,971,000
Total Current Assets	158,646,000	162,923,000	238,051,000	183,312,000	231,604,000
Property Plant Equipment	5,847,000	5,931,000	5,185,000	13,723,000	16,065,000
Goodwill and Intangibles	19,910,000	29,612,000	43,343,000	35,432,000	35,432,000
Total Assets	195,071,000	214,185,000	288,373,000	234,832,000	283,700,000
Liabilities
Account Payables	6,500,000	7,743,000	17,586,000	19,124,000	24,651,000
Short Term Debt	18,437,000	6,483,000	6,241,000	7,022,000	3,654,000
Total Current Liabilities	56,888,000	39,048,000	53,857,000	37,643,000	43,954,000
Long Term Debt	8,162,000	37,425,000	25,216,000	932,000	1,321,000
Total Liabilities	65,050,000	65,473,000	79,073,000	38,575,000	45,275,000
Shareholders Equity
Retained Earnings	-429,110,000	-358,605,000	-268,107,000	0	0
Total Shareholders Equity	130,957,000	148,113,000	208,432,000	196,257,000	238,425,000

Cash flow quarterly history for Virtual Mind Holding Company Limited (1520.HK).
Cash Flow Statement (Quarterly)	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Operating Activities
Net Income	-76,446,000	-93,749,000	-58,403,000	-46,271,000
Depreciation & Amortization	3,534,000	3,523,000	5,047,000	6,888,000
Stock Based Compensation	826,000	17,108,000	8,638,000	3,741,000
Change in Working Capital	-46,692,000	16,640,000	-35,866,000	-48,839,000
Operating Cash Flow	-77,705,000	-27,734,000	-81,009,000	-58,792,000
Investing Activities
Capital Expenditure	-1,390,000	-1,115,000	-1,478,000	-731,000
Investments	-1,390,000	-1,115,000	-1,478,000	-731,000
Investing Cash Flow	-1,241,000	-930,000	73,978,000	-730,000
Financing Activities
Debt Repayment	7,565,000	-360,000	-50,000,000	0
Common Stock Issued/Repurchased	51,836,000	15,490,000	0	0
Dividends Paid	0	0	0	0
Financing Cash Flow	53,835,000	10,244,000	46,665,000	-928,000
Summary
Free Cash Flow	-79,095,000	-28,849,000	-82,487,000	-59,523,000
Net Change in Cash	-25,025,000	-20,769,000	36,664,000	-63,199,000

Cash flow annual history for Virtual Mind Holding Company Limited (1520.HK).
Cash Flow Statement (Annual)	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
Operating Activities
Net Income	-76,446,000	-93,749,000	-58,403,000	-46,271,000	-68,115,000
Depreciation & Amortization	3,534,000	3,523,000	5,047,000	6,888,000	8,044,000
Stock Based Compensation	826,000	17,108,000	8,638,000	3,741,000	0
Change in Working Capital	-46,692,000	16,640,000	-35,866,000	-48,839,000	-2,441,000
Operating Cash Flow	-77,705,000	-27,734,000	-81,009,000	-58,792,000	-20,746,000
Investing Activities
Capital Expenditure	-1,390,000	-1,115,000	-1,478,000	-731,000	0
Investments	-1,390,000	-1,115,000	-1,478,000	-731,000	0
Investing Cash Flow	-1,241,000	-930,000	73,978,000	-730,000	4,419,000
Financing Activities
Debt Repayment	7,565,000	-360,000	-50,000,000	0	0
Common Stock Issued/Repurchased	51,836,000	15,490,000	0	0	0
Dividends Paid	0	0	0	0	0
Financing Cash Flow	53,835,000	10,244,000	46,665,000	-928,000	-6,012,000
Summary
Free Cash Flow	-79,095,000	-28,849,000	-82,487,000	-59,523,000	-20,746,000
Net Change in Cash	-25,025,000	-20,769,000	36,664,000	-63,199,000	-22,450,000