Company: KMRK
Filing Date: 2025-03-25
Form Type: DRS/A
Source: 0001013762-25-001825
Chunk: 99

Company: K-TECH SOLUTIONS CO LTD
Filing Date: 2025-03-25
Form: DRS/A
Chunk 99
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,999 |
|                                                |     |                  955,787 |     | 587,088 |

Our general and administrative expenses increased by US$368,699 or 62.8%, from US$587,088 for six months ended September30, 2023 to US$955,787 for the six months ended September 30, 2024. The increase is mainly due to the increase in the auditor’s remuneration. We expect our overall general and administrative expenses, including salaries and professional and transport, to increase in the foreseeable future, as we plan to hire additional personnel and incur additional expenses in connection with the expansion of our business operations. We expect our professional fees for legal, audit, and advisory services to increase when we become a public company upon the completion of this offering. Total other income, net Net interest expenses The interest expenses represented the finance lease interest and bank loan interest. Other interest expenses increased by US$19,293, from US$19,530 for the six months ended September 30, 2023, to US$38,823 for the six months ended September 30, 2024, primarily due to the increase of bank loan during the six months ended September 30, 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$79,484 for the six months ended September 30, 2024, decreasing from US$89,980 for the six months ended September 30, 2023, due to the lower pre -taxprofit base in 2024. The effective tax rate for the six months ended September 30, 2024, and 2023 was 11.9% and 13.0% respectively. The decrease in our effective income tax rate was driven by a decrease 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.

59

Net income As a result of the foregoing, we reported net income of approximately US$0.59million for the six months ended September 30, 2024, representing a decrease of approximately US$0.2 million from a net income of