Plastec 2025 results and subsidiary liquidations
Plastec Technologies, Ltd. reported audited 2025 results showing it continues to have no revenues and operates largely as a cash shell.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Plastec Technologies, Ltd. reported audited 2025 results showing it continues to have no revenues and operates largely as a cash shell. For 2025, it recorded a net loss of HK$1.9 million, narrowing from a HK$7.9 million loss in 2024, mainly offset by HK$1.7 million of interest income.
Cash and cash equivalents were HK$42.3 million (about $5.4 million) at December 31, 2025, with total assets of HK$42.3 million and liabilities of HK$0.6 million. In March 2026, the company commenced voluntary liquidations of its three BVI subsidiaries; once completed, Plastec expects to have no subsidiaries or operating activities while evaluating future opportunities.
Positive
- None.
Negative
- Strategic wind-down of operations: Voluntary liquidations of all BVI-incorporated subsidiaries, after which Plastec expects to have no subsidiaries or operating activities, materially reduces its status as an operating company.
- Persistent lack of revenue: Revenues were zero for 2023, 2024 and 2025, with results driven solely by interest income and expenses, limiting any earnings-based valuation framework.
Insights
Plastec is effectively winding down operations and becoming a cash vehicle.
Plastec Technologies shows three consecutive years with zero revenue, modest net losses, and reliance on interest income. In 2024 it paid a large dividend, shrinking its cash base, and in 2025 losses narrowed as expenses declined, but no operating business remains.
The company held HK$42.3 million (about $5.4M) of cash at December 31, 2025 against minimal liabilities of HK$0.6 million. This produces a balance-sheet-heavy, operations-light profile where value is concentrated in net cash and equity rather than earnings power.
The voluntary liquidations of its BVI subsidiaries, commenced on March 24, 2026 and expected to complete in roughly seven weeks, mean Plastec anticipates having no subsidiaries or operating activities. Subsequent disclosures may clarify how management plans to deploy the remaining cash and what “future opportunities” could entail.
Key Figures
Key Terms
voluntary liquidations financial
forward-looking statements regulatory
retained earnings financial
comprehensive loss financial
dividends paid financial
Report of Foreign Private Issuer regulatory
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Plastec Technologies (PLTYF) revenues and net results for 2025?
How much cash did Plastec Technologies (PLTYF) hold at the end of 2025?
What voluntary liquidations has Plastec Technologies (PLTYF) initiated?
Will Plastec Technologies (PLTYF) have ongoing operations after its liquidations?
How did Plastec Technologies’ (PLTYF) balance sheet change between 2024 and 2025?
What role did interest income play in Plastec Technologies’ (PLTYF) 2025 results?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES EXCHANGE ACT OF 1934
For the month of: April 2026
Commission File Number: 000-53826
PLASTEC TECHNOLOGIES, LTD.
(Translation of registrant’s name into English)
c/o Unit 01, 21/F, Aitken Vanson Centre, 61 Hoi Yuen Road, Kwun Tong, Kowloon, Hong Kong
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F x Form 40-F ¨
Financial Information
On April 20, 2026, Plastec Technologies, Ltd. (the “Company”) issued a press release announcing the Company’s financial results for the fiscal year ended December 31, 2025. A copy of the press release is attached to this Report of Foreign Private Issuer as Exhibit 99.1.
The foregoing information shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Exhibits
| Exhibit | Description | |
| 99.1 | Press release dated April 20, 2026. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: April 20, 2026
| PLASTEC TECHNOLOGIES, LTD. |
| By: | /s/ Kin Sun Sze-To | |
| Name: Kin Sun Sze-To | ||
| Title: Chief Executive Officer |
Exhibit 99.1
PLASTEC TECHNOLOGIES REPORTS FISCAL 2025 FINANCIAL RESULTS
Hong Kong – April 20, 2026 – Plastec Technologies, Ltd. (OTCBB: PLTYF) (the “Company”) today reported audited financial results for the fiscal year ended December 31, 2025.
Balance Sheet Highlights at December 31, 2025*
| · | $5.4 million in cash and cash equivalents, compared to $5.7 million at December 31, 2024. |
| · | $5.3 million in working capital, compared to $5.6 million at December 31, 2024. |
| · | Book value per share of $0.41, compared to $0.43 at December 31, 2024. |
* Balance Sheet highlights amounts are presented in U.S. dollars ($) based on a conversion rate of $1.0: HK$7.8, while financial tables/amounts at the end of this release are in Hong Kong dollars (HK$).
Recent Developments
As announced in August 2025, the Company applied for voluntary liquidations of its BVI-incorporated subsidiaries: Viewmount Development Limited, Sun Ngai Spraying and Silk Print Co. Ltd., and Sun Terrace Industries Ltd. The documents for the liquidations were filed with the Registry on March 24, 2026. The voluntary liquidations were commenced on the same date, and are expected to be completed in approximately 7 weeks.
Upon the completion of the voluntary liquidations, Plastec Technologies, Ltd. would no longer have any subsidiaries, or operating activities.
Management Comments
Mr. Kin Sun Sze-To, Chairman of the Company, stated, “In 2025, we initiated the liquidation of our BVI-incorporated subsidiaries, as part of a strategic move toward gradually reducing and/or ultimately eliminating ongoing operations. With these actions commenced in March 2026, we now are in a better position to evaluate and pursue future opportunities. Our cash balance of $5.4 million as of 2025 year-end, supports our going forward plan.”
Forward Looking Statements
This press release contains “forward-looking statements.” These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements.
CONTACT:
Plastec Technologies, Ltd.
HL Ning, Chief Financial Officer
ning@plastec.com.hk
INVESTOR RELATIONS:
The Equity Group Inc.
Alice Zhang, Associate
(212) 836-9610 / azhang@theequitygroup.com
Lena Cati, Senior Vice President
(212) 836-9611 / lcati@theequitygroup.com
| Plastec Technologies, Ltd April 20, 2026 . | Page 2 |
PLASTEC TECHNOLOGIES, LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated)
| Year ended December 31, | Year ended December 31, | Year ended December 31, | ||||||||||
| 2023 | 2024 | 2025 | ||||||||||
| HK$ | HK$ | HK$ | ||||||||||
| Revenues | - | - | - | |||||||||
| Operating expenses, net | ||||||||||||
| Selling, general and administrative expenses – third parties | (3,084 | ) | (4,813 | ) | (2,885 | ) | ||||||
| Selling, general and administrative expenses – a related party | - | - | (850 | ) | ||||||||
| Other income | - | 118 | 64 | |||||||||
| Total operating expenses, net | (3,084 | ) | (4,695 | ) | (3,671 | ) | ||||||
| Loss from operations | (3,084 | ) | (4,695 | ) | (3,671 | ) | ||||||
| Interest income | 4,065 | 4,543 | 1,732 | |||||||||
| (Loss)/profit before income tax expense | 981 | (152 | ) | (1,939 | ) | |||||||
| Income tax expense | (1,047 | ) | (7,758 | ) | - | |||||||
| Net loss and comprehensive loss attributable to the Company’s shareholders | (66 | ) | (7,910 | ) | (1,939 | ) | ||||||
| Net loss per share: | ||||||||||||
| Weighted average number of ordinary shares | 12,938,128 | 12,938,128 | 12,938,128 | |||||||||
| Weighted average number of diluted ordinary shares | 12,938,128 | 12,938,128 | 12,938,128 | |||||||||
| Basic net loss per share | HK$(0.005) | HK$(0.61) | HK$(0.15) | |||||||||
| Diluted net loss per share | HK$(0.005) | HK$(0.61) | HK$(0.15) | |||||||||
| Plastec Technologies, Ltd April 20, 2026 . | Page 3 |
PLASTEC TECHNOLOGIES, LTD.
CONSOLIDATED BALANCE SHEETS
(Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated)
| December 31, | December 31, | |||||||
| 2024 | 2025 | |||||||
| HK$ | HK$ | |||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | 44,171 | 42,324 | ||||||
| Total current asset | 44,171 | 42,324 | ||||||
| Non-current asset | ||||||||
| Property, plant and equipment, net | - | - | ||||||
| Total non-current asset | - | - | ||||||
| Total assets | 44,171 | 42,324 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| Current liabilities | ||||||||
| Other payables and accruals – third parties | 538 | 480 | ||||||
| Other payables and accruals – a related party | - | 150 | ||||||
| Total current liabilities | 538 | 630 | ||||||
| Total liabilities | 538 | 630 | ||||||
| Commitments and contingencies | - | - | ||||||
| Shareholders’ equity | ||||||||
| Ordinary shares (U.S.$0.001 par value; 100,000,000 authorized, 12,938,128 and 12,938,128 shares issued and outstanding as of December 31, 2024 and 2025, respectively) | 101 | 101 | ||||||
| Additional paid-in capital | 26,049 | 26,049 | ||||||
| Accumulated other comprehensive income | (30 | ) | (30 | ) | ||||
| Retained earnings | 17,513 | 15,574 | ||||||
| Total shareholders’ equity | 43,633 | 41,694 | ||||||
| Total liabilities and shareholders’ equity | 44,171 | 42,324 | ||||||
| Plastec Technologies, Ltd April 20, 2026 . | Page 4 |
PLASTEC TECHNOLOGIES, LTD.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated)
| Year ended December 31, | Year ended December 31, | Year ended December 31, | ||||||||||
| 2023 | 2024 | 2025 | ||||||||||
| HK$ | HK$ | HK$ | ||||||||||
| Operating activities | ||||||||||||
| Net loss | (66 | ) | (7,910 | ) | (1,939 | ) | ||||||
| Changes in operating assets and liabilities: | ||||||||||||
| Deposits, prepayment and other receivables | (715 | ) | 4,269 | - | ||||||||
| Other payables and accruals | 398 | (635 | ) | 92 | ||||||||
| Tax payables | 1,047 | (12,980 | ) | - | ||||||||
| Net cash generated from/(used in) from operating activities | 664 | (17,256 | ) | (1,847 | ) | |||||||
| Investing activity | ||||||||||||
| (Purchase)/Proceeds from disposal of plant and machinery | (7 | ) | 445 | - | ||||||||
| Net cash (used in)/generated from investing activity | (7 | ) | 445 | - | ||||||||
| Financing activity | ||||||||||||
| Dividends paid | - | (35,321 | ) | - | ||||||||
| Net cash used in financing activity | - | (35,321 | ) | - | ||||||||
| Net increase/(decrease) in cash and cash equivalents | 657 | (52,132 | ) | (1,847 | ) | |||||||
| Cash and cash equivalents, beginning of year | 95,646 | 96,303 | 44,171 | |||||||||
| Cash and cash equivalents, end of year | 96,303 | 44,171 | 42,324 | |||||||||
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||||||||||||
| Interest income | 4,065 | 4,543 | 1,732 | |||||||||
| Hong Kong income taxes paid | - | 16,930 | - | |||||||||