Raytech Holding Limited SEC Filings

Raytech Holding Limited submitted an amended Form 144 (144/A) reporting an intended sale of 5,957,725 ordinary shares on Nasdaq through Huatai Financial Holdings (Hong Kong) Limited with an aggregate market value of $15,609,239.50. The proposed block represents approximately 13.7% of the company's 43,598,083 shares outstanding and is listed with an approximate sale date of 07/30/2025. The securities were acquired on 06/24/2022 in a share issuance of 12,800,000 shares from Raytech Holding Limited and were paid in cash. The filing reports nothing to report for securities sold in the past three months. The filer also certifies they are not aware of any undisclosed material adverse information; this submission is an amendment to a prior Form 144.

Raytech Holding Limited submitted a Form 144/A reporting a proposed sale of 800,000 ordinary shares through Huatai Financial Holdings (Hong Kong) Limited as broker. The filing lists an aggregate market value of $2,208,000 and indicates 43,598,083 shares outstanding, with an approximate sale date of 08/05/2025. The shares were acquired on 09/08/2022 by private transfer from Raytech Holding Limited and were paid for in cash.

The filing states there were no securities sold by the filer in the past three months and includes the seller's representation that they do not possess undisclosed material adverse information about the issuer. The notice follows Rule 144 disclosure procedures and records the broker, acquisition details, and the seller's certification.

Rule 144 notice: the filer plans to sell 800,000 ordinary shares on the Nasdaq Capital Market via Everbright Securities Investment Services (HK) Limited. The shares carry an aggregate market value of $2.208 million and account for roughly 1.8 % of the 43,598,083 shares outstanding. The anticipated sale date is 08/05/2025.

The securities were originally acquired for cash in a private transfer on 09/08/2022. No other sales have been reported by the seller during the past three months. By signing Form 144, the seller certifies that no material non-public adverse information exists and affirms compliance with Rule 10b5-1, if applicable.

Raytech Holding Ltd. (RAY) – Form 144 notice

An unidentified insider plans to dispose of up to 5,957,725 ordinary shares through Everbright Securities Investment Services (HK) Ltd. on Nasdaq around 30 Jul 2025. The block equals roughly 13.7 % of the 43,598,083 shares outstanding and carries an aggregate market value of US$15.6 million. The shares were originally issued for cash on 24 Jun 2022. The filer reports no other sales in the past three months and certifies that no non-public adverse information is known. No operational or earnings data accompanies the filing; the document solely signals a potential supply overhang for RAY shares.

Raytech Holding Ltd. (RAY) files its inaugural Form 20-F as a BVI holding company whose sole operating subsidiary, Pure Beauty, designs and sources beauty-related small appliances in Hong Kong. The filing discloses 43.6 million ordinary shares outstanding and confirms Nasdaq listing under ticker RAY.

Key business risks dominate the report: (1) Severe customer concentration—Koizumi Seiki (Japan) and a U.S. distributor supplied 93.5 % of FY-25 revenue (64.0 % and 29.5 %, respectively). (2) Supplier dependence—manufacturing is outsourced to two Zhongshan, PRC factories; Zhongshan Raytech, controlled by the CEO, represented 88 % of total purchases. (3) Geopolitical & regulatory exposure stemming from Hong Kong location, PRC oversight, U.S. HFCAA/PCAOB issues and potential outbound-investment restrictions. (4) Internal-control weaknesses (limited staff, insufficient U.S. GAAP expertise) were identified in the FY-25 audit. (5) The company currently holds no registered trademarks and licenses key marks from its CEO.

Additional concerns include lack of dividend plan, emerging-growth status, absence of cybersecurity insurance, seasonal revenue swings and exposure to macro shocks. No detailed financial statements, revenue totals or guidance are provided in the excerpt; investors therefore cannot assess profitability, cash flow or balance-sheet strength from this section alone.

Raytech Holding Limited (Nasdaq: RAY) has filed a Rule 424(b)(4) prospectus for a best-efforts public offering of 25,985,000 ordinary shares at US$0.20 per share, potentially raising gross proceeds of US$5.20 million and net proceeds (before expenses) of US$4.83 million. Post-offering, total shares outstanding will rise to 43,598,083. CEO & Chairman Mr. Ching Tim Hoi will retain 12.8 million shares (29.4% voting power), ending Raytech’s previous “controlled company” status under Nasdaq rules.

Business model. Through wholly-owned Hong Kong subsidiary Pure Beauty, Raytech designs, sources and wholesales personal-care electrical appliances (hair dryers, straighteners, trimmers, etc.) for international brand owners. Hair-styling products contributed 48% of FY-2024 revenue; Koizumi Seiki Corp. alone accounted for 74% of FY-2024 sales, indicating material customer concentration. Manufacturing is almost entirely outsourced to two mainland-China factories—one (Zhongshan Raytech) is controlled by the CEO and supplied 88.5% of FY-2024 production.

Recent developments. • Auditor change (WWC, P.C. dismissed; Assentsure PAC appointed) effective April 9 2025.
• Board refresh: resignation of independent director Mr. Yiu Wing Hei; appointment of Mr. Li Shihua (May 19 2025) as independent director & audit-committee chair.

Regulatory landscape. Operations are in Hong Kong; Raytech has no PRC subsidiaries or VIE structure and believes—per PRC and Hong Kong counsel—that no CAC/CSRC approvals are currently required. Nonetheless, management highlights potential PRC “long-arm” intervention, national-security considerations, CSRC filing uncertainties and HFCA/AHFCAA delisting risk should PCAOB access change. Auditor WWC is U.S.-based and currently inspected by PCAOB.

Use of proceeds. According to the prospectus (p. 59), roughly 20% will fund international marketing (U.S., EU, Asia), 30% will expand headcount (sales, R&D, admin), and the balance will support working capital and product-line expansion (men’s grooming, oral care).

Key investment considerations

• Small capital raise (≈US$5 m) but highly dilutive—share count increases 148% versus pre-offering.
• High customer (Koizumi) and supplier (Zhongshan Raytech) concentration exposes earnings to single-counterparty risk.
• Regulatory uncertainty in Hong Kong/Mainland-China relations and potential HFCA compliance issues may weigh on valuation.
• Positive tailwinds from global personal-care appliance growth (forecast 5.5–7% CAGR) and Raytech’s 11-year operating history with established Japanese customer base.