Li Bang International Announces Its Audited Financial Results for Fiscal Year Ended June 30, 2025

JIANGYIN, China, Nov. 07, 2025 (GLOBE NEWSWIRE) -- Li Bang International Corporation Inc. ("Li Bang International") and its subsidiaries (collectively, the "Company," "we," "us," "our company," or "Li Bang") (Nasdaq: LBGJ), a company engaged in designing, developing, producing, and selling stainless steel commercial kitchen equipment in China, today announced its audited financial results for the fiscal year ended June 30, 2025. Highlights for Fiscal Year Ended June 30, 2025 Total revenue increased 2.9% to approximately $11.1 million for the year ended June 30, 2025 from approximately $10.8 million for fiscal year 2024.Gross profit increased 4.1% to approximately $3.2 million for the year ended June 30, 2025, compared to approximately $2.7 million for fiscal year 2024. Gross margin improved by 4.1 percentage points, to 29.2% for the year ended June 30, 2025, from 25.1% for fiscal year 2024.Net loss was kept being narrowed to approximately $1.0 million for fiscal year 2025 from approximately $1.4 million in 2024. Mr. Huang Feng, Chief Executive Officer and Chairman of Li Bang, commented: “We made measurable progress for the year ended June 30, 2025 versus the prior year. Total revenue increased by 2.9% to $11.1 million, gross profit grew to $3.2 million and gross margin also expanded to 29.2% from 25.1%, all contributing to a narrowed net loss of approximately $1.0 million, a 26.1% improvement year over year.” “Against the industry backdrop of softer raw‑material costs and continued demand variability in project-based markets, the Company has benefited from both input-cost tailwinds and disciplined pricing. Past investments in regional expansion and channel testing informed a leaner marketing approach in 2025, and improved collections have reduced provisioning pressure. The Company remains mindful that market cycles, stainless‑steel pricing and end‑market demand will influence near‑term performance.” “Looking ahead, we will prioritize sustainable revenue growth, margin protection and liquidity. The Company will pursue customer and geographic diversification to increase higher‑margin project sales, secure supplier terms to mitigate raw‑material volatility, and scale the retail channel selectively. Li Bang is also actively looking for acquisition opportunities across upstream and downstream sectors and expects to make progress within the next six months, with timely updates to the market. Meanwhile we will manage discretionary spend and focus on converting backlog into cash to support operations and corporate development.” Audited Financial Results for Fiscal Years Ended June 30, 2025 and 2024 2025 2024 Variance In USD million except percentages, differences due to rounding. Amount % of revenue Amount % ofrevenue % Revenues $11.1 100.0% $10.8 100.0% 2.9%Cost of revenues (7.9) (70.8)% (8.1) (74.9)% (2.8)%Gross profit 3.2 29.2% 2.7 25.1% 20.0%Total operating expenses 4.6 41.5% 4.4 40.9% 4.1%Loss from operations (1.4) (12.3)% (1.7) (15.8)% (21.0)%Net loss attributable to ordinary shareholders $(1.0) (9.2)% (1.4) (12.7)% (26.1)% Revenues Total revenue increased by $312,063, or 2.9% to approximately $11.1 million for the year ended June 30, 2025 from approximately $10.8 million for fiscal year 2024. The increase was attributable to the increase in the revenue from project sales and retail sales. Revenues from project sales increased by $219,298 or 2.1% to approximately $10.6 million for the year ended June 30, 2025 from approximately $10.4 million for fiscal year 2024. The increase was primarily due to the increase in average project price.Revenues from retail sales increased by $92,765 or 25.2% to approximately $0.5 million for the year ended June 30, 2025 from approximately $0.4 million for fiscal year 2024. The change in retail revenues is due primarily to 19 more retail orders completed in the year ended June 30, 2025 compared to fiscal year 2024. Cost of Revenues Total cost of revenues was approximately $7.9 million for the year ended June 30, 2025, compared to approximately $8.1 million for fiscal year 2024. Cost of project sales decreased by $299,915, or 3.8%, to approximately $7.5 million for the year ended June 30, 2025 from approximately $7.8 million for fiscal year 2024. The decrease was due primarily to the decrease in nthe prices of raw materials. The highest unit price of main materials (stainless steel) decreased by 8.3% in fiscal year 2025.Cost of retail sales increased by $71,137 or 26.2% to approximately $0.3 million for the year ended June 30, 2025 from approximately $0.27 for fiscal year 2024. The increase was due mainly to the increase in the completion and delivery of retail projects in fiscal year 2025. Gross Profit Gross profit was approximately $3.2 million for the year ended June 30, 2025, an increase of $540,841 from approximately $2.7 million for fiscal year 2024. Gross margin increased by 4.1%, to 29.2% for the year ended June 30, 2025, from 25.1% for fiscal year 2024. Gross profit for project sales increased by $519,213 to approximately $3.1 million for the year ended June 30, 2025, as compared to approximately $2.6 million for fiscal year 2024. The increase was due to higher average project price in couple with lower cost of main materials (stainless steel) in the year ended June 30, 2025.Gross profit for retail sales increased to $118,222 for the year ended June 30, 2025 from $96,594 for fiscal year 2024. The Company expect to expand market, develop new customers, and enhance operational efficiency to improve gross margin. Operating Expenses Operating expenses were approximately $4.6 million for the year ended June 30, 2025, compared to approximately $4.4 million for fiscal year 2024. Selling expenses decreased by 10.7% to approximately $0.7 million for the year ended June 30, 2025, down from approximately $0.8 million in fiscal year 2024, primarily due to reduced market expansion costs following expansion into new regions in the previous year as the Company refined its marketing strategy in fiscal year 2025.General and administrative expenses increased by 14.3% to approximately $2.9 million, up from approximately $2.5 million in fiscal year 2024, mainly due to higher consulting fees, partially offset by decreased depreciation expenses. The Company anticipates further increases in these expenses post-IPO.The provision for expected credit losses decreased by 8.2% to approximately $1.0 million, down from approximately $1.1 million in fiscal year 2024, driven by favorable collection experience. Other Income, Net Other income, net increased by $131,331, or 22.4%, to approximately $0.7 million for the year ended June 30, 2025, from approximately $0.6 million for fiscal year 2024. The increase was mainly due to increase in government subsidies and in interest income from fixed deposits and loan receivable, which was partially offset by decrease in consulting service revenue. Net Loss Net loss attributable to the Company’s ordinary shareholders decreased by $357,566, or 26.1% from approximately 1.4 million for the year ended June 30, 2024, to $1.0 million for the year ended June 30, 2025. Balance Sheet As of June 30, 2025 the Company had cash of $933,826, compared to $153,914 as of June 30, 2024. About Li Bang International Corporation Inc. Li Bang International Corporation Inc. (Nasdaq: LBGJ) specializes in the development, production, and sale of stainless-steel commercial kitchen equipment under its own "Li Bang" brand in China. In addition to its product offerings, the Company provides comprehensive services from early-stage design of commercial kitchen appliances to equipment installation and after-sales maintenance. Committed to innovation and high-quality, the Company uses modern production facilities and mature procedures and strives to become a first-class commercial kitchen appliance manufacturer in China. The Company's long-term vision is to establish itself as a household name, synonymous with the products it manufactures. For more information, please visit the company's website at https://ir.libangco.cn. Forward Looking Statements Certain statements in this announcement constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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. Investors can identify these forward-looking statements by words or phrases such as “may”, “could”, “will”, “should”, “would”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “project” or “continue” or the negative of these terms or other comparable terminology. 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 financial results filings with the U.S. Securities and Exchange Commission. CONTACTS Li Bang International Corporation Inc.Investor Relations DepartmentEmail: guanli@libangco.cn WFS Investor RelationsEmail: services@wealthfsllc.comPhone: +1 628 283 9214 LI BANG INTERNATIONAL CORPORATION INC.CONSOLIDATED BALANCE SHEETS As of June 30, 2025 2024 ASSETS Current Assets: Cash $933,826 $153,914 Restricted cash 145,739 80,293 Fixed deposits 2,654,150 - Accounts receivable, net 12,280,554 12,286,665 Notes receivable 29,544 172,348 Advances to suppliers, net 781,590 991,518 Inventories 1,513,758 1,750,369 Loans receivable 1,000,000 - Prepaid expenses and other current assets, net 600,927 283,061 Total current assets 19,940,088 15,718,168 Non-current assets: Fixed deposits - 2,665,993 Non-current accounts receivable 517,810 670,146 Non-current loans receivable 3,515,050 - Prepayment for land use rights - 1,403,154 Deferred offering costs - 588,013 Property and equipment, net 2,633,046 2,790,891 Intangible assets, net 522,560 539,925 Deferred tax assets, net 690,158 533,345 Other non-current assets 15,779 169,933 Total non-current assets 7,894,403 9,361,400 Total Assets $27,834,491 $25,079,568 LIABILITIES AND EQUITY Current Liabilities: Short-term loans $7,501,467 $6,857,415 Accounts payable 4,075,878 4,694,905 Advances from customers 926,830 1,027,164 Taxes payable 3,268,416 3,273,227 Due to related parties 210,490 131,574 Other payables and other current liabilities 963,789 1,033,729 Total current liabilities 16,946,870 17,018,014 Non-current Liabilities: Long-term loans 3,073,227 3,806,557 Total non-current liabilities 3,073,227 3,806,557 Total Liabilities 20,020,097 20,824,571 Commitments and Contingencies - - Equity: Ordinary shares (par value $0.0001 per share, 500,000,000 shares authorized, 18,748,000 and 17,000,000 shares issued and outstanding as of June 30, 2025 and 2024, respectively) 1,875 1,700 Subscription receivable (1,699) (1,699)Additional paid-in capital 6,831,401 2,236,677 Statutory reserves 800,096 755,100 Retained earnings 525,406 1,583,977 Accumulated other comprehensive loss (279,104) (258,907)Total shareholders’ equity of the Company 7,877,975 4,316,848 Non-controlling interests (63,581) (61,851)Total Equity 7,814,394 4,254,997 Total Liabilities and Equity $27,834,491 $25,079,568 LI BANG INTERNATIONAL CORPORATION INC.CONSOLIDATED STATEMENTS OF (LOSS) INCOME AND COMPREHENSIVE (LOSS) INCOME For the Years EndedJune 30, 2025 2024 2023 Revenues: Project revenues $10,645,337 $10,426,039 $13,581,021 Retail revenues 460,741 367,976 423,527 Total revenues 11,106,078 10,794,015 14,004,548 Cost of revenues (7,857,589) (8,086,367) (8,246,591)Gross profit 3,248,489 2,707,648 5,757,957 Operating expenses: Selling and marketing 742,029 831,252 650,268 General and administrative 2,867,091 2,509,143 2,646,569 Provision for expected credit losses 995,725 1,084,649 1,213,483 Total operating expenses 4,604,845 4,425,044 4,510,320 (Loss) income from operations (1,356,356) (1,717,396) 1,247,637 Other income (expenses): Interest expense (403,231) (430,639) (375,445)Other income (expenses), net 717,759 586,428 (5,461)Total other income (expenses), net 314,528 155,789 (380,906) (Loss) income before provision for income taxes (1,041,828) (1,561,607) 866,731 Income tax (benefit) expense (26,249) (187,720) 252,611 Net (loss) income (1,015,579) (1,373,887) 614,120 Less: net loss attributable to non-controlling interests (2,004) (2,746) (2,698)Net (loss) income attributable to ordinary shareholders $(1,013,575) $(1,371,141) $616,818 Comprehensive (loss) income Net (loss) income $(1,015,579) $(1,373,887) 614,120 Foreign currency translation (loss) gain (19,923) 79,844 (417,717)Total comprehensive (loss) income (1,035,502) (1,294,043) 196,403 Comprehensive (loss) income attributable to non-controlling interests (1,730) (3,558) 1,677 Comprehensive (loss) income attributable to ordinary shareholders $(1,033,772) $(1,290,485) $194,726 (Loss) earnings per ordinary share – Basic and diluted $(0.06) $(0.08) $0.04 Weighted average number of ordinary shares outstanding – Basic and diluted 18,183,518 17,000,000 17,000,000 LI BANG INTERNATIONAL CORPORATION INC.CONSOLIDATED STATEMENTS OF CASH FLOWS For the Years EndedJune 30, 2025 2024 2023 Cash flows from operating activities: Net (loss) income $(1,015,579) $(1,373,887) $614,120 Adjustments to reconcile net (loss) income to net cash used in operating activities: Depreciation and amortization 426,992 460,720 498,650 (Gain) loss on disposal of property and equipment (15,400) (14,839) 547 Provision for expected credit losses 995,725 1,084,649 1,213,483 Deferred tax benefit (159,153) (93,655) (223,230)Changes in operating assets and liabilities: Accounts receivable (738,705) (391,851) (5,049,769)Notes receivable 142,013 (172,208) 14,694 Advances to suppliers 65,524 (201,638) (299,526)Inventories 228,794 (182,119) 460,389 Due from related parties - - 297,666 Prepaid expenses and other current assets (181,905) 35,262 (195,641)Accounts payable (598,063) 273,650 1,054,719 Advances from customers (95,754) (16,578) 294,836 Taxes payable 6,787 (102,435) 639,275 Due to related parties 79,486 (26,077) 85,253 Other payables and other current liabilities (67,429) 74,527 (39,880)Net cash used in operating activities (926,667) (646,479) (634,414) Cash flows from investing activities: Loans to third parties (4,515,050) - - Purchases of property and equipment (273,823) (104,523) (175,962)Proceeds from disposal of property and equipment 25,556 17,334 144 Refund of the land use right payment 1,396,668 - - Purchases of fixed deposits - - (2,737,161)Net cash used in investing activities (3,366,649) (87,189) (2,912,979) Cash flows from financing activities: Proceeds from loans 8,393,972 7,969,044 14,461,012 Repayments of loans (8,435,872) (7,422,258) (10,425,427)Payment of offering costs (188,119) (127,300) (91,238)Net proceeds from initial public offering 5,368,773 - - Net cash provided by financing activities 5,138,754 419,486 3,944,347 Effect of foreign exchange rate on cash (80) 7,262 (27,857) Net increase (decrease) in cash and restricted cash 845,358 (306,920) 369,097 Cash and restricted cash at the beginning of the year 234,207 541,127 172,030 Cash and restricted cash at the end of the year $1,079,565 $234,207 $541,127 Reconciliation of cash and restricted cash Cash $933,826 $153,914 $76,019 Restricted cash 145,739 80,293 465,108 Total cash and restricted cash shown in the statements of cash flows $1,079,565 $234,207 $541,127 Supplemental disclosures of cash flow information: Interest paid $400,617 $425,736 $375,286 Income taxes paid $53,646 $59 $167,010 Non-cash transactions: Reclassification of deferred offering cost $585,755 $- $-

Li Bang International Announces Its Audited Financial Results for Fiscal Year Ended June 30, 2025

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