TIMELESS Resources Holdings Limited reported a strong turnaround for the year ended 31 March 2026. Group revenue surged 113.0% year-on-year to HK$235.54 million, driven by record precious-metal sales and a rapid scale-up of its Software Business.
Precious-Metal Operations • Sales volume increased to 281,304 ounces (FY2025: 4,478 ounces), lifting segment revenue to HK$172.78 million and generating a segment profit of HK$7.39 million versus a HK$6.45 million loss a year earlier. • The Group completed a HK$17.61 million placing of 33,227.875 silver-backed digital tokens, booking a HK$5.63 million gain from the disposal of the related structured entity.
Software Business • Segment revenue expanded to HK$62.76 million from HK$3.06 million, with segment profit climbing to HK$7.21 million (FY2025: HK$0.34 million) following new contracts in Mainland China.
Group Earnings • Profit attributable to shareholders reached HK$11.02 million, versus a HK$12.42 million loss last year. • Basic and diluted EPS were 2.18 HK cents (FY2025: –3.55 HK cents). • Adjusted EBITDA turned positive at HK$8.02 million (FY2025: negative HK$13.95 million).
Balance Sheet and Liquidity • Cash and time deposits totaled HK$119.24 million; net current assets stood at HK$73.22 million. • A HK$30.00 million unsecured, on-demand loan from a director lifted the gearing ratio to 42.84%. • Current ratio declined to 1.97 (FY2025: 4.80). • Capital commitments for Baishiquan Nickel-Copper Mine development amounted to HK$8.68 million.
Operational Progress • The feasibility package for Phase 2 of Baishiquan Nickel-Copper Mine was submitted to the National Development and Reform Commission in January 2026; approval is targeted by September 2026. • Supplementary drilling of 2,509 metres completed during the year.
Corporate Actions • Net proceeds of HK$29.09 million from the April 2025 rights issue were fully deployed: HK$10 million for precious-metal operations, HK$10 million for the software segment and HK$9.09 million for working capital. • No dividend was declared.
Outlook Management expects continued demand for silver, underpinned by industrial and AI-related uses, and plans to extend silver-token cooperation to additional jurisdictions. For mining, construction of Baishiquan Phase 2 is slated to commence in 1H 2027, subject to regulatory approvals.