Company: GRAN
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069627
Chunk: 115

Company: Grande Group Ltd/HK
Filing Date: 2025-07-31
Form: 20-F
Item: Item 5
Chunk 115
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1 million or 17.7% from $0.3 million in the year ended March 31, 2024 to $0.4 million in the
year ended March 31, 2025.

Revenues
derived from clients in Hong Kong increased by approximately $1.4 million or 104.0% from $1.3 million in the year ended March 31, 2023
to $2.7 million in the year ended March 31, 2024. Revenues derived from clients in the PRC decreased by approximately $0.4 million or
21.8% from $1.9 million in the year ended March 31, 2023 to $1.5 million in the year ended March 31, 2024. Revenues derived from clients
in Singapore decreased by approximately $0.3 million or 47.6% from $0.6 million in the year ended March 31, 2023 to $0.3 million in the
year ended March 31, 2024.

Cost
of revenue

Cost
of revenue consists primarily of staff costs and project related costs. Our cost of revenue decreased by approximately $0.5 million or
32.9% from $1.5 million for the year ended March 31, 2024 to $1.0 million for the year ended March 31, 2025. This reduction was mainly
due to reduced bonuses payable to employees in the project execution function. Our cost of revenue remained stable at approximately $1.5 million
for both the years ended March 31, 2024 and 2023.

Gross
profit

Our
gross profit increased by approximately $0.3million, or 10.3%, from $3.0 million for the year ended March 31, 2024 to $3.3 million for
the year ended March 31, 2025. Profit margin increased from approximately 66.5% in the year ended March 31, 2024 to 76.5% in the year
ended March 31, 2025. The increase in gross profit margin in the year ended March 31, 2025 was mainly attributable to the increase in
the provision of referral services and general advisory services while such services are provided by our in-house employees and their
salaries, which are a core part of our cost of revenue and recorded a decrease during the year.

Our
gross profit