Fenbo (FEBO) investor relations material

Company overview and business model

• Operates as a Cayman Islands holding company with subsidiaries in Hong Kong and China focused on OEM/ODM manufacturing of personal care electric appliances, primarily hair styling tools for export markets.

• Sole customer is Spectrum Brands, for whom it manufactures Remington-branded products sold in Europe, the US, and Latin America.

• Manufacturing is based in Shenzhen, China, with sales and management functions in Hong Kong.

• The company has over 30 years of industry experience and emphasizes quality control, R&D, and long-term customer relationships.

Financial performance and metrics

• FY2024 revenue was HK$132.9 million (US$17.1 million), up 11.6% from 2023; net loss widened to HK$15.5 million (US$2.0 million) from HK$1.5 million in 2023.

• Gross profit margin remained stable at 18.7% in 2024; operating loss increased due to higher general and administrative expenses.

• For the six months ended June 30, 2025, revenue declined 36.2% year-over-year to HK$42.7 million (US$5.4 million), with a net loss of HK$3.8 million (US$0.5 million).

• Cash and cash equivalents as of June 30, 2025 were HK$28.3 million (US$3.6 million); working capital was HK$38.6 million (US$5.0 million) as of December 31, 2024.

• The company relies on a single customer for 100% of revenue and faces significant customer concentration risk.

Use of proceeds and capital allocation

• Net proceeds from the offering (estimated at $9.0 million if fully subscribed) will be allocated: 20% to R&D, 40% to developing own branded products, 30% to building a sales team, and the remainder to working capital and general corporate purposes.

• Management has broad discretion over use of proceeds and may adjust allocations as needed.