Company: KMRK
Filing Date: 2025-03-25
Form Type: DRS/A
Source: 0001013762-25-001825
Chunk: 100

Company: K-TECH SOLUTIONS CO LTD
Filing Date: 2025-03-25
Form: DRS/A
Chunk 100
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, 2024, primarily due to the increase of bank loan during the year ended March 31, 2024. Income tax expense We are not subject to any income tax in the BVI pursuant to the rules and regulations in the BVI, but our subsidiary is subject to Hong Kong profits tax. Our income tax expense was US$144,647 for the year ended March 31, 2024, increasing from US$15,327 for the year ended March 31, 2023, due to the higher pre -taxprofit base in 2024. The effective tax rate for the year ended March 31, 2024, and 2023 was 13.5% and 5.8% respectively. The increase in our effective income tax rate was driven by an increase in assessable profit that the tax rate is 16.5% under the two -tieredprofits tax regime which income tax was charged at the rate of 8.25% on first US$255,630 (equivalent to HKD2 million) and at the rate of 16.5% thereafter. Net income As a result of the foregoing, we reported net income of approximately US$0.93 million for the year ended March 31, 2024, representing an increase of approximately US$0.68 million from a net income of approximately US$0.25 million for the year ended March 31, 2023. Liquidity and Capital Resources We financed our operations primarily through cash flows from operations and loans from banks and related parties, if necessary. Our use of cash was primarily related to operating activities and payment for offering cost in the six months ended September 30, 2024 and 2023. We have historically financed our operations primarily through our cash flow generated from our operations and bank borrowings. In view of the current cash and bank balances, funds generated by our operating activities and bank loans, we believe our Company has sufficient resources to meet the working capital needs in the next 12 months from the date the unaudited financial statements are issued. However, our ability to meet the liquidity and capital requirements will be subject to future economic conditions and other factors which are beyond our control. We may declare or pay dividends in the foreseeable future. Any future determination related to our dividend policy will be made at the discretion of our Board after considering our financial condition, results of operations, capital requirements, contractual requirements, business prospects and other factors the Board deems relevant, and subject to the