Latest 20-F annual reports

Primech Holdings Ltd. reported a significant reduction in net loss and an increase in revenue for fiscal year 2025, driven by growth in facilities services and strategic investments in technology and AI-powered cleaning solutions.

Credicorp Ltd. filed an amendment to its 2024 Annual Report on Form 20-F to correct previously reported percentages of common shares owned by certain non-affiliated companies and to provide updated details on related party transactions.

BrilliA Inc. saw a 15.06% revenue increase to $64.39 million in fiscal year 2025, driven by strong North American sales and new product lines, but net income fell 14.16% to $2.82 million due to higher operating and listing-related expenses.

Boqii Holding Limited reported a significant 33.9% drop in net revenues for the fiscal year ended March 31, 2025, alongside persistent net losses and an identified material weakness in its financial reporting controls.

OKYO Pharma Limited reported a reduced net loss for the fiscal year ended March 31, 2025, driven by lower R&D and administrative expenses, while strategically accelerating its lead drug candidate urcosimod for neuropathic corneal pain after receiving Fast Track designation.

Prenetics Global Limited filed an amendment to its 2024 annual report to incorporate the separate financial statements of its significant equity method investment, Insighta Holdings Limited, as mandated by SEC regulations.

Ryde Group Ltd filed an amendment to its 2024 annual report solely to include consent letters from its independent registered public accounting firms, OneStop Assurance PAC and Kreit & Chiu CPA LLP.

CCSC Technology International Holdings Limited reported an increased net loss for fiscal year 2025, following a significant revenue decline in the prior year, while pursuing strategic initiatives including facility upgrades and AI integration.

Youlife Group Inc. has successfully consummated its business combination with Distoken Acquisition Corporation, leading to its American Depositary Shares commencing trading on Nasdaq under the symbol YOUL.

Pinnacle Food Group Limited, a Canada-based smart farming solutions provider, reported a 57% increase in revenue to US$3.3 million for fiscal year 2024, driven by its new smart farming business, despite a decrease in gross profit margin and identified material weaknesses in internal financial controls.

FEC Resources Inc. reported a net loss of $244,437 for fiscal year 2024, continuing a trend of operating losses and highlighting significant going concern uncertainties despite a substantial increase in the fair value of its investment in Forum Energy Limited.

HDFC Bank reported significant asset growth and increased net income for fiscal year 2025, driven by the full-year impact of its merger with HDFC Limited, while actively pursuing digital innovation and managing integration challenges.

Fast Track Group, an entertainment event management company, reported a substantial net loss and increased negative working capital for the fiscal year ended February 28, 2025, raising significant doubt about its ability to continue as a going concern, despite a recent IPO.

Diginex Limited, a NASDAQ-listed ESG and supply chain due diligence software provider, reported increased revenue for fiscal year 2025, successfully completed its initial public offering, and is pursuing significant acquisitions and a potential $250 million capital raise alongside a dual listing on the Abu Dhabi Securities Exchange.

Tokyo Lifestyle Co., Ltd. reported a 7.4% increase in total revenue to $210.1 million for fiscal year 2025, driven by growth in physical stores and wholesale, despite a decline in net income and ongoing internal control weaknesses.

NaaS Technology Inc. reported a reduced net loss of RMB914.4 million in 2024, a strategic shift away from low-margin energy solutions, and engaged in multiple capital-raising activities, while auditors highlighted substantial doubt about its ability to continue as a going concern.

LOBO EV Technologies Ltd. reported a net loss of $845,841 for the fiscal year ended December 31, 2024, a significant decline from a net income of $986,471 in 2023, driven by a sharp increase in operating expenses and identified material weaknesses in internal financial controls.

Hotel101 Global Holdings Corp. has successfully completed its business combination with JVSPAC Acquisition Corp. and commenced trading on Nasdaq, despite reporting a pro forma net loss of $54.4 million for the year ended December 31, 2024.

LogProstyle Inc. announced a significant increase in total revenue and net income for the fiscal year ended March 31, 2025, primarily fueled by robust real estate sales and improved hotel occupancy rates, while also disclosing material weaknesses in internal controls over financial reporting.

Mitsubishi UFJ Financial Group, Inc. reported a 4.4% decrease in net income attributable to shareholders for the fiscal year ended March 31, 2025, to ¥1,266.9 billion, driven by lower non-interest income and increased expenses, despite growth in net interest income and strategic global acquisitions.

Scage Future has successfully completed its business combination and Nasdaq listing, but faces significant financial instability marked by increasing net losses, negative cash flows, and a substantial working capital deficit, raising auditor concerns about its ability to continue as a going concern.

Zhengye Biotechnology Holding Limited experienced a notable decrease in revenue and net income for the fiscal year ended December 31, 2024, driven by veterinary vaccine market adjustments and a strategic shift to diversify its customer base away from its largest client, while also disclosing material weaknesses in internal financial controls.

Virax Biolabs Group Limited, a biotechnology company focused on T cell in-vitro diagnostics, reported a net loss of $6.07 million for the fiscal year ended March 31, 2025, continuing a trend of substantial operating losses as it invests heavily in its ViraxImmune platform while existing product revenues remain minimal.

Shell plc has re-filed its 2024 annual report to include reissued audit opinions from Ernst & Young LLP, confirming the accuracy of its financial statements and the effectiveness of internal controls, despite a decline in revenue and net income.

Shell plc filed an amended 20-F/A for fiscal year 2023 to re-include audited financial statements and opinions after an auditor independence issue, while reporting a substantial decline in income and significant asset impairments, alongside ongoing strategic portfolio adjustments and legal challenges.

Blue Gold Limited has finalized its business combination with Perception Capital Corp. IV, but faces significant liquidity challenges, an ongoing legal dispute over its key Ghanaian gold mine leases, and a going concern warning from auditors.

Infosys achieved a 3.9% revenue growth in fiscal 2025, reaching $19.277 billion, while maintaining strong operating profit and net profit, despite a slight decrease in net margin due to higher tax expenses and lower other income, as it continues to invest heavily in AI and digital capabilities.

Solowin Holdings experienced a significant increase in net loss and a decline in total revenue for the fiscal year ended March 31, 2025, despite strategic expansion into virtual asset services and corporate finance.

IRSA Inversiones y Representaciones S.A. has filed an amendment to its annual report, including the audited consolidated financial statements of its significant subsidiary, Banco Hipotecario S.A., which reported a decrease in net income for 2024 despite an improvement in net interest income.

Highway Holdings Limited reported a return to net income in fiscal year 2025, driven by a 17.3% increase in net sales and improved gross margins, while actively managing geopolitical and operational challenges in its key manufacturing regions.