HONG KONG, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Creative Global Technology Holdings Limited (the “Company” or “CGTL”), a Hong Kong-based company sourcing and reselling recycled consumer electronic devices, today announced the financial results for the fiscal year ended September 30, 2024.

Creative Global Technology Holdings Limited shows strong revenue growth and high ROIC, but suffers from declining profits and a risky, concentrated business model. The company's revenue is heavily reliant on a few key customers, with the top five accounting for 92.9% of total revenue in early 2024. Despite a growing market for pre-owned consumer electronics, Creative Global's NOPAT has declined, indicating potential issues in sustaining profitability.

Six IPOs and one SPAC listed this week - Pony AI, Brazil Potash, Venu Holding, Brillia, Wing Yip Food, Creative Global Tech, and FACT II Acquisition, respectively. One IPO and two SPACs submitted initial filings - Top Win, Inflection Point Acquisition III, and Range Capital Acquisition, respectively. Excluding micro-caps, we expect a mostly quiet calendar through the end of the year, though a couple large issuers could come to market before year end.

Hong Kong, Nov. 27, 2024 (GLOBE NEWSWIRE) -- Creative Global Technology Holdings Limited (the “Company” or “CGTL”), a Hong Kong-based company sourcing and reselling recycled consumer electronic devices, today announced the closing of its initial public offering (the “Offering”) of 1,250,000 ordinary shares (the “Ordinary Shares”) at a public offering price of $4.00 per share for total gross proceeds of $5,000,000, before deducting underwriting discounts and other offering expenses. The Offering closed on November 27, 2024, and the Ordinary Shares commenced trading on Nasdaq Capital Market on November 26, 2024, under the ticker symbol “CGTL”.