BAO Holding Limited (BAO)

BAO Holding was planning to go public, but the IPO was withdrawn on Dec 31, 2025.

IPO Price Range

$4.00 - $5.00

Shares Offered

3,750,000

Deal Size

$16.88M

BAO Holding Financials Overview

Financials in millions HKD. Fiscal year is April - March.

Millions HKD. Fiscal year is Apr - Mar.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024
Period Ending	Mar '25 Mar 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024
Revenue	28.5	28.5	13.27
Revenue Growth	-	114.79%	-
Gross Profit	10.9	10.9	2.26
Operating Income	7.8	7.8	0.12
Net Income	6.64	6.64	0.08

Fiscal Year	Current	FY 2025	FY 2024
Period Ending	Mar '25 Mar 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024
Cash & Investments	1.72	1.72	0.08
Total Debt	1.59	1.59	0.51
Net Cash (Debt)	0.13	0.13	-0.43
Net Cash Growth	-	-	-

Fiscal Year	TTM	FY 2025	FY 2024
Period Ending	Mar '25 Mar 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024
Operating Cash Flow	3.08	3.08	0.6
Free Cash Flow	2.9	2.9	0.31
Free Cash Flow Growth	-	823.00%	-

Fiscal Year	TTM	FY 2025	FY 2024
Period Ending	Mar '25 Mar 31, 2025	Mar '25 Mar 31, 2025	Mar '24 Mar 31, 2024
Gross Margin	38.26%	38.26%	17.03%
Operating Margin	27.36%	27.36%	0.92%
Pretax Margin	27.34%	27.34%	0.90%
Profit Margin	23.29%	23.29%	0.57%
FCF Margin	10.19%	10.19%	2.37%