Reported Q: Q4 2025 Rev YoY: -97.1% EPS YoY: +116.0% Move: 0.00%
Cocoon Holdings Limited
0428.HK
HKD0.215 0.00%
Exchange HKSE Sector Financial Services Industry Financial Capital Markets
Q4 2025
Published: Dec 31, 2025

Company Status Snapshot

Fast view of the latest quarter outcome for 0428.HK

Reported

Report Date

Dec 31, 2025

Quarter Q4 2025

Revenue

249.00K

YoY: -97.1%

EPS

0.06

YoY: +116.0%

Market Move

0.00%

Previous quarter: Q2 2025

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Earnings Highlights

  • Revenue of $0.25M down 97.1% year-over-year
  • EPS of $0.06 increased by 116% from previous year
  • Gross margin of 100.0%
  • Net income of 6.75M
  • "N/A" -
0428.HK
Company 0428.HK

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Executive Summary

Cocoon Holdings Limited reported QQ4 2025 results with a striking dividend of non-operating income dominating the bottom line. Revenue and gross profit were HKD 249,000, while operating income registered a loss of HKD 2.673 million. The quarter benefited from substantial non-operating gains, illustrated by total other income of HKD 9.423 million and an EBITDA of HKD 7.125 million, resulting in pre-tax income of HKD 6.75 million and net income of HKD 6.75 million. The company ended the quarter with a highly liquid balance sheet: cash and short-term investments totaled roughly HKD 179.3 million against minimal current liabilities (HKD 2.081 million) and virtually no long-term debt, yielding a net debt position of HKD 1.565 million and stockholders’ equity of HKD 178.251 million.

Strategically, the QQ4 2025 results reveal Cocoon as a principal investment firm whose profitability in the near term is driven by investment gains rather than core operating earnings. YoY revenue declined by approximately 97.1%, reflecting the absence of prior-year operating revenue or one-off gains, but net income rose by about 123.3% YoY (and ~122.1% QoQ) due to favorable non-operating items. While the margin metrics appear robust on a net-income basis (net income margin of 27.1%), the sustainability of this earnings profile hinges on ongoing investment performance rather than disciplined operating revenue growth.

The balance sheet posture is a material strength: a large cash-and-investments buffer supports opportunistic investments, capital returns, or strategic deals, with a conservative leverage profile. In the near term, investors should monitor investment performance, portfolio composition, liquidity management, and any formal guidance or policy on capital returns. Absent explicit guidance, the investment thesis centers on Cocoon’s ability to rotate and monetize select holdings while preserving balance-sheet strength to weather market cycles.

Key Performance Indicators

Revenue
Decreasing
249.00K
QoQ: 255.71% | YoY: -97.07%
Gross Profit
Decreasing
249.00K
1.00% margin
QoQ: 255.71% | YoY: -97.07%
Operating Income
Decreasing
-2.67M
QoQ: -3 918.57% | YoY: -131.48%
Net Income
Increasing
6.75M
QoQ: 122.11% | YoY: 123.34%
EPS
Increasing
0.06
QoQ: 72.16% | YoY: 115.97%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q4 2025 0.25 0.06 -97.1% View
Q2 2025 0.07 0.03 -99.2% View
Q1 2025 0.04 0.02 +100.4% View
Q4 2024 16.98 -0.72 -35.5% View
Q3 2024 8.49 -0.36 +152.9% View