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BrilliA Announces Six-month Earnings of $0.06 per Share and a 17% Revenue Increase for the Six Months Ended September 30, 2024

1. BRIA's revenue rose 17% to $27.4 million for six months ending September 2024. 2. Net income remained stable at $1.13 million, $0.06 per share. 3. Export sales to North America surged 38%, while European sales declined 56%. 4. Gross profit margin improved to 15.4%, reflecting operational efficiency. 5. Future growth expected from collaboration with Maison Lejaby and DIANA brand.

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Why Bullish?

The significant increase in revenue and improved profit margins indicate strong business performance. Historical trends show that such growth often leads to positive stock price movements.

How important is it?

The article highlights strong financial performance and future growth strategies, directly influencing investor sentiment.

Why Long Term?

The anticipated success in North America and upcoming contributions from new brands suggest sustained growth prospects over time, similar to historical patterns in related companies that introduce innovative products.

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FOLHBIHM
SINGAPORE, March 21, 2025 (GLOBE NEWSWIRE) -- BrilliA Inc (NYSE American: BRIA) (“BRIA” or “the Company”), a leading one-stop service cross-border solution provider for ladies' intimate apparel brands, today announced that, for the six-month ended September 30, 2024, the Company had revenue of $27,423,693, a 17% improvement compared with revenue of $23,483,537 for the same period in 2023. The Company reported revenue of $27.4 million, representing a 17% increase compared to $23.5 million in the same period of 2023. Net income for the six months ended September 30, 2024, was $1.13 million, or $0.06 per share, reflecting a negligible change from $1.13 million, or $0.06 per share, in the prior-year period. Revenue increased by 17%, driven primarily by a 38% rise in export sales to North America, contributing approximately $6.5 million. This was partially offset by a 56% decline in export sales to Europe, amounting to approximately $3.1 million. The Company’s gross profit margin improved to 15.4% from 14.8% in the prior year period. Operating expenses increased by approximately 27%, or $0.6 million, primarily due to a 56% rise in employee benefit expenses ($0.56 million) and a 24% increase in other expenses ($0.20 million), which included travel, entertainment, license fees, and taxes. As a result of the above-mentioned factors, the Company’s net income for the six months ended September 30, 2024, showed a slight increase to $1,132,224, compared with $1,131,819 in the prior-year period. Cash and cash equivalents as at September 30, 2024, were about $5.9 million compared with approximately $6.4 million as at March 31, 2024. Net cash used in operating activities for the six months ended September 30, 2024, was about $0.20 million, compared with about $0.68 million in the same period a year earlier. Total non-current liabilities at September 30, 2024, were about $1.71 million, compared with zero in the corresponding period in 2023. “We are quite excited by our financial performance in the first six months ended September 30 2024, especially our 38% growth in sales to North America,” said BrilliA chief executive Kendrew Hartanto. “We were also successful in achieving an improvement in our gross profit margin, which, along with our 17% improvement in revenue, contributed to another profitable period for our Company. “Going forward, we expect North American sales to remain strong, and for our European intimate apparel sales to be boosted by our recently signed cooperation framework with the French luxury lingerie brand, Maison Lejaby. “We also expect our own DIANA lingerie brand to begin making significant contributions to overall revenue in Indonesia, Singapore, and other ASEAN countries later this year.” About BrilliA Inc BrilliA is a one-stop service cross-border solution provider for ladies' intimate apparel brands, managing sales and customer relationships with major clients like Fruit of the Loom, Hanes Brands Inc and H&M, with the expertise in handling sourcing, design, prototyping, supply chain to logistic management as well as quality control of products manufactured by independent third party manufacturing facilities for their customers worldwide. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this press release are “forward-looking statements” as defined under the federal securities laws, including, but not limited to, the Company’s expectations regarding the completion, timing and size of the proposed Offering and statements regarding the use of proceeds from the sale of the Company’s shares in the Offering. 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, including the expectation that the Offering will be successfully completed. Investors can find many (but not all) of these statements by the use of words such as “believe”, “plan”, “expect”, “intend”, “should”, “seek”, “estimate”, “will”, “aim” and “anticipate”, or other similar expressions in this press release. 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. For further information, please contact: BrilliA Inc Contact:220 Orchard Road, Unit 05-01, Midpoint OrchardSingapore 238852(+65) 6235 3388Email: info@brilliaincorporated.com  Investor Relations Inquiries:Skyline Corporate Communications Group, LLCScott Powell, President1177 Avenue of the Americas, 5th FloorNew York, New York 10036Office: (646) 893-5835Email: info@skylineccg.com BRILLIA INC AND ITS SUBSIDIARIES      UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOMEFOR THE SIX MONTHS ENDED SEPTEMBER 30, 2023 AND 2024                       Pro forma  Successor   Six months ended Six months ended   NoteSeptember 30, September 30,   2023   2024   (Unaudited) (Unaudited)*    USD USDRevenue 16 23,483,537  27,423,693 Cost of materials   (12,718,569) (15,090,191)Contract manufacturers charges   (7,281,609) (8,114,670)Gross profit   3,483,359  4,218,832 Other income 17 48,291  54,972 Depreciation of property, plant and equipment   (17,985) (22,791)Depreciation of right-of-use assets   (86,305) (229,348)Employee benefit expense 18 (999,461) (1,558,517)Other expenses 19 (831,715) (1,030,375)Finance costs 20 (7,048) (67,760)Net gain/(loss) on impairment of financial assets   (235,775) 74,004 Profit before income taxes   1,353,361  1,439,017 Income tax expenses 21 (221,542) (306,793)Profit for the financial period   1,131,819  1,132,224        Other comprehensive income      Items that may be reclassified subsequently to profit or loss      (Loss)/Gain on foreign currency translation   (33,214) 41,056 Other comprehensive income, net of tax   (33,214) 41,056 Total comprehensive income for the period   1,098,605  1,173,280        Profit attributable to:      Owners of the parent   1,130,833  1,130,677 Non-controlling interest   986  1,547     1,131,819  1,132,224        Total comprehensive income attributable to:      Owners of the parent   1,097,652  1,171,692 Non-controlling interest   953  1,588     1,098,605  1,173,280        Weighted average number of ordinary shares      basic and diluted   28,530,220  28,530,220 Earnings per share attributable to ordinary shareholders      basic and diluted   0.04  0.04        * For period prior to the acquisition, the Company is referred to as the Predecessor. For period after the acquisition, it is referred to as Successor. Please refer to “Note 1 Group Reorganization” for detailed explanation.       The accompanying notes are an integral part of these unaudited interim consolidated financial statements. BRILLIA INC AND ITS SUBSIDIARIES    UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITIONAS OF MARCH 31, 2024 AND SEPTEMBER 30, 2024           Predecessor    As of Successor  March 31, As of  2024 September 30,  (Pro forma 2024 NoteUnaudited) (Unaudited)*ASSETS USD USDNon-current assets    Property, plant and equipment, net498,016 144,635Right-of-use assets516,651 2,167,443Deferred offering costs6836,752 1,250,176Total non-current assets 951,419 3,562,254     Current assets    Inventories77,093,579 9,968,764Trade and other receivables812,204,289 11,112,834Amounts due from related parties9460,163 559,622Income tax recoverable 59,314 62,115Cash and cash equivalents106,383,103 5,898,466Total current assets 26,200,448 27,601,801     Total assets 27,151,867 31,164,055     LIABILITIES AND EQUITY         Non-current liabilities    Lease liabilities11— 1,708,501  — 1,708,501Current liabilities    Trade and other payables1216,649,567 17,052,169Amount due to a director13— 2,739Amount due to a shareholder1456,895 51,678Lease liabilities11— 423,490Income tax payable 2,304,921 2,611,714Total current liabilities 19,011,383 20,141,790Total liabilities 19,011,383 21,850,291     Capital and reserves    Share capital15500 6,660,500Translation reserve — 41,015Merger reserve 717,901 (5,942,099)Retained earning 7,414,815 8,545,492  8,133,216 9,304,908     Non-controlling interests 7,268 8,856Total shareholders’ equity 8,140,484 9,313,764     Total liabilities and equity 27,151,867 31,164,055     The accompanying notes are an integral part of these unaudited interim consolidated financial statements.

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