Income Statement Top Standard Corporation

Stocks

8510

KYG894351124

Restaurants & Bars

Delayed Hong Kong S.E. 09:09:09 20/08/2026 BST			5-day change	1st Jan Change
0.1540 ^HKD	0.00%		-3.75%	-12.00%

03-31	Top Standard Corporation Reports Earnings Results for the Full Year Ended December 31, 2025	CI
12-05	Top Standard Corp to allot, issue aggregate 39.8 million shares	RE

c1.AbofVAQ7WtrWcocCq70uvj-WI2x84Yxo-xttVoekWi4.e85zEjFzYp-MS8RD3c1_k0blVicKtb8hvCwbNcSVEFxEwHwEfA9oqJBLvw

Published financial data: TOP STANDARD CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	6.65M	12.48M	9.07M	14.33M	19.71M
Other Revenues, Total	200K	1.06M	-	-	-
Total Revenues	6.85M	13.54M	9.07M	14.33M	19.71M
Cost of Goods Sold, Total	5.67M	10.71M	9.46M	11.92M	15.91M
Gross Profit	1.18M	2.83M	-384K	2.41M	3.8M
Provision for Bad Debts	-	-	-	-	119K
Depreciation & Amortization - (IS)	475K	1.79M	3.07M	3.38M	460K
Other Operating Expenses	4.36M	7.77M	4.32M	4.43M	2.2M
Other Operating Expenses, Total	4.83M	9.56M	7.39M	7.81M	2.78M
Operating Income	-3.65M	-6.74M	-7.77M	-5.41M	1.02M
Interest Expense, Total	-94K	-623K	-626K	-1.06M	-878K
Interest And Investment Income	17K	90K	92K	2K	-
Net Interest Expenses	-77K	-533K	-534K	-1.06M	-878K
Income (Loss) On Equity Invest.	-	-	87K	-71K	-183K
Currency Exchange Gains (Loss)	-	8K	-	-77K	-
Other Non Operating Income (Expenses)	-1.72M	-	-	102K	72K
EBT, Excl. Unusual Items	-5.44M	-7.26M	-8.22M	-6.51M	27K
Impairment of Goodwill	-	-	-109K	-	-
Gain (Loss) On Sale Of Assets	-	-	13.4M	-280K	12K
Asset Writedown	-6.61M	-1.55M	-2.43M	-9.69M	-963K
Other Unusual Items	-	23K	1.38M	1.42M	-
EBT, Incl. Unusual Items	-12.06M	-8.78M	4.02M	-15.06M	-924K
Income Tax Expense	-	-	-	316K	-
Earnings From Continuing Operations	-12.06M	-8.78M	4.02M	-15.38M	-924K
Earnings Of Discontinued Operations	8.94M	-36K	-	-	-
Net Income to Company	-3.12M	-8.82M	4.02M	-15.38M	-924K
Minority Interest	93K	1.31M	1.99M	5.58M	-83K
Net Income - (IS)	-3.03M	-7.5M	6.01M	-9.8M	-1.01M
Net Income to Common Incl Extra Items	-3.03M	-7.5M	6.01M	-9.8M	-1.01M
Net Income to Common Excl. Extra Items	-11.96M	-7.47M	6.01M	-9.8M	-1.01M
Per Share Items
Net EPS - Basic	-0.03	-0.05	0.04	-0.06	-0.01
Basic EPS - Continuing Operations	-0.1	-0.05	0.04	-0.06	-0.01
Basic Weighted Average Shares Outstanding	120M	138M	139M	171M	200M
Net EPS - Diluted	-0.03	-0.05	0.04	-0.06	-0.01
Diluted EPS - Continuing Operations	-0.1	-0.05	0.04	-0.06	-0.01
Diluted Weighted Average Shares Outstanding	120M	138M	139M	171M	200M
Normalized Basic EPS	-0.03	-0.02	-0.02	0.01	-0
Normalized Diluted EPS	-0.03	-0.02	-0.02	0.01	-0
Supplemental Items
EBITDA	-3.62M	-5.76M	-5.91M	-3.58M	1.22M
EBITA	-3.65M	-6.74M	-7.77M	-5.41M	1.02M
EBIT	-3.65M	-6.74M	-7.77M	-5.41M	1.02M
EBITDAR	-2.65M	-4.77M	-5.15M	-2.82M	2M
Effective Tax Rate - (Ratio)	-	-	-	-2.1	-
Current Domestic Taxes	-	-	-	-	-
Current Foreign Taxes	-	-	-	-	287K
Total Current Taxes	-	-	-	-	287K
Deferred Domestic Taxes	-	-	-	-	-
Total Deferred Taxes	-	-	-	316K	-287K
Normalized Net Income	-3.31M	-3.22M	-3.15M	1.5M	-66.12K
Interest on Long-Term Debt	93K	620K	626K	1.06M	878K
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Net Rental Expense, Total	977K	989K	762K	762K	781K
Imputed Operating Lease Interest Expense	68.56K	704K	389K	575K	544K
Imputed Operating Lease Depreciation	908K	285K	373K	187K	237K
Maintenance & Repair Expenses, Total	-	-	-	-	-

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	2.98M	1.18M	2.42M	2.58M	1.68M
Total Cash And Short Term Investments	2.98M	1.18M	2.42M	2.58M	1.68M
Accounts Receivable, Total	30K	223K	188K	640K	1.62M
Other Receivables	-	89K	34K	84K	4.34M
Total Receivables	30K	312K	222K	724K	5.96M
Inventory	246K	582K	402K	801K	720K
Prepaid Expenses	190K	416K	312K	284K	222K
Restricted Cash	11.81M	-	-	-	-
Other Current Assets, Total	296K	522K	310K	201K	1.19M
Total Current Assets	15.56M	3.01M	3.66M	4.6M	9.77M
Gross Property Plant And Equipment	170K	9.08M	15.65M	10.64M	11.49M
Accumulated Depreciation	-170K	-3.37M	-5.91M	-9.97M	-10.94M
Net Property Plant And Equipment	0	5.72M	9.74M	675K	550K
Long-term Investments	-	-	250K	183K	-
Goodwill	109K	109K	-	-	-
Deferred Tax Assets Long-Term	-	-	316K	-	-
Other Long-Term Assets, Total	1.04M	1.28M	1.5M	959K	215K
Total Assets	16.71M	10.11M	15.47M	6.41M	10.54M
Liabilities
Accounts Payable, Total	1.54M	2.15M	2.42M	3.91M	4.34M
Accrued Expenses, Total	10.4M	12.53M	4.55M	6.24M	7.74M
Short-term Borrowings	50K	343K	2.72M	3.63M	4.63M
Current Portion of Long-Term Debt	-	-	1.6M	1.72M	-
Current Portion of Leases	1.91M	3M	2.42M	1.51M	1.27M
Current Income Taxes Payable	-	-	-	-	-
Other Current Liabilities	5.05M	3.53M	4.3M	6.05M	7.57M
Total Current Liabilities	18.95M	21.55M	18M	23.07M	25.55M
Long-Term Debt	-	-	1.68M	-	-
Long-Term Leases	4.59M	4.11M	3.72M	3.5M	3.91M
Deferred Tax Liability Non Current	-	-	316K	316K	29K
Other Non Current Liabilities	150K	221K	21K	21K	21K
Total Liabilities	23.69M	25.88M	23.74M	26.9M	29.51M
Common Stock, Total	13.82M	13.82M	16.59M	19.91M	23.89M
Additional Paid In Capital	98.69M	98.69M	99.43M	99.38M	99.34M
Retained Earnings	-120M	-127M	-121M	-131M	-132M
Comprehensive Income and Other	568K	598K	571K	455K	-1.69M
Total Common Equity	-6.89M	-14.36M	-4.88M	-11.53M	-10.74M
Minority Interest	-96K	-1.41M	-3.39M	-8.96M	-8.24M
Total Equity	-6.98M	-15.77M	-8.27M	-20.49M	-18.97M
Total Liabilities And Equity	16.71M	10.11M	15.47M	6.41M	10.54M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	138M	138M	166M	199M	239M
ECS Total Common Shares Outstanding	138M	138M	166M	199M	239M
Book Value / Share	-0.05	-0.1	-0.03	-0.06	-0.04
Tangible Book Value	-7M	-14.47M	-4.88M	-11.53M	-10.74M
Tangible Book Value Per Share	-0.05	-0.1	-0.03	-0.06	-0.04
Total Debt	6.54M	7.46M	12.14M	10.36M	9.82M
Net Debt	3.56M	6.28M	9.72M	7.78M	8.14M
Debt Equivalent Oper. Leases	7.82M	7.91M	6.1M	6.1M	6.25M
Minority Interest, Total (Incl. Fin. Div)	-96K	-1.41M	-3.39M	-8.96M	-8.24M
Equity Method Investments, Total	-	-	250K	183K	-
Account Code - Inventory Valuation	5	5	5	5	5
Machinery, Total	170K	2.72M	4.61M	4.96M	5.36M
Full Time Employees	20	31	25	48	52
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	119K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	-3.03M	-7.5M	6.01M	-9.8M	-1.01M
Depreciation & Amortization - CF	475K	1.79M	3.07M	3.38M	460K
Depreciation & Amortization, Total	475K	1.79M	3.07M	3.38M	460K
(Gain) Loss From Sale Of Asset	-	-	-	280K	-12K
Asset Writedown & Restructuring Costs	6.61M	1.55M	2.54M	9.69M	963K
(Income) Loss On Equity Investments - (CF)	-	-	-87K	71K	183K
Provision and Write-off of Bad Debts	-	-	-	-	119K
Net Cash From Discontinued Operations	-3.46M	-	-13.4M	-	-
Other Operating Activities, Total	-7.84M	-842K	-2.86M	-5.62M	642K
Change In Accounts Receivable	431K	-976K	229K	229K	-1.07M
Change In Inventories	-69K	-336K	180K	-399K	154K
Change In Accounts Payable	3.94M	1.38M	2.21M	3.23M	870K
Change in Other Net Operating Assets	-11.81M	11.81M	-	-	-
Cash from Operations	-14.75M	6.87M	-2.11M	1.06M	1.3M
Capital Expenditure	-116K	-5.77M	-6.38M	-2.31M	-31K
Sale of Property, Plant, and Equipment	-	-	-	-	12K
Cash Acquisitions	-42K	-	-	-	-
Divestitures	-15K	-	-	-	-
Investment in Marketable and Equity Securities, Total	-	-	-173K	-	-
Other Investing Activities, Total	-	-88K	62K	-48K	-299K
Cash from Investing	-173K	-5.85M	-6.49M	-2.36M	-318K
Short Term Debt Issued, Total	348K	88K	2.72M	915K	934K
Long-Term Debt Issued, Total	-	-	3.65M	-	-
Total Debt Issued	348K	88K	6.37M	915K	934K
Short Term Debt Repaid, Total	-335K	-137K	-255K	-	-
Long-Term Debt Repaid, Total	-3.18M	-2.39M	-3.28M	-3.03M	-2.56M
Total Debt Repaid	-3.51M	-2.52M	-3.53M	-3.03M	-2.56M
Issuance of Common Stock	12.62M	-	3.5M	3.27M	-
Other Financing Activities, Total	-571K	-623K	3.49M	309K	-195K
Cash from Financing	8.88M	-3.06M	9.83M	1.46M	-1.82M
Foreign Exchange Rate Adjustments	-	-6K	8K	5K	-61K
Net Change in Cash	-6.04M	-2.05M	1.24M	169K	-905K
Supplemental Items
Cash Interest Paid	556K	623K	626K	1M	842K
Cash Income Tax Paid (Refund)	-	-	-	-	319K
Levered Free Cash Flow	-10.04M	3.38M	-14.92M	1.21M	-2.12M
Unlevered Free Cash Flow	-9.99M	3.77M	-14.53M	1.87M	-1.58M
Change In Net Working Capital	8.06M	-11.96M	6.36M	-4.18M	2.64M
Net Debt Issued / Repaid	-3.16M	-2.44M	2.84M	-2.12M	-1.63M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	-15.52	-31.39	-37.96	-30.88	7.49
Return on Total Capital	227.52	96.14	218.45	108.02	-6.58
Return On Equity %	102.9	77.19	-33.46	106.93	4.68
Return on Common Equity	102.52	70.29	-62.46	119.5	9.05
Margin Analysis
Gross Profit Margin %	17.23	20.9	-4.23	16.8	19.26
EBITDA Margin %	-52.93	-42.57	-65.17	-25	6.2
EBITA Margin %	-53.35	-49.75	-85.65	-37.74	5.16
EBIT Margin %	-53.35	-49.75	-85.65	-37.74	5.16
Income From Continuing Operations Margin %	-176.11	-64.88	44.33	-107.33	-4.69
Net Income Margin %	-44.24	-55.44	66.24	-68.41	-5.11
Net Avail. For Common Margin %	-174.75	-55.17	66.24	-68.41	-5.11
Normalized Net Income Margin	-48.34	-23.81	-34.71	10.51	-0.34
Levered Free Cash Flow Margin	-146.69	25	-164.48	8.44	-10.78
Unlevered Free Cash Flow Margin	-145.83	27.88	-160.17	13.06	-8
Asset Turnover
Asset Turnover	0.47	1.01	0.71	1.31	2.33
Fixed Assets Turnover	-	4.74	1.17	2.75	32.18
Receivables Turnover (Average Receivables)	103.86	98.66	44.15	34.6	17.43
Inventory Turnover (Average Inventory)	33.04	25.86	19.22	19.82	20.92
Short Term Liquidity
Current Ratio	0.82	0.14	0.2	0.2	0.38
Quick Ratio	0.16	0.07	0.15	0.14	0.3
Operating Cash Flow to Current Liabilities	-0.78	0.32	-0.12	0.05	0.05
Days Sales Outstanding (Average Receivables)	3.51	3.7	8.27	10.58	20.95
Days Outstanding Inventory (Average Inventory)	11.05	14.11	18.99	18.47	17.44
Average Days Payable Outstanding	121.56	61.04	89.89	94.08	95.13
Cash Conversion Cycle (Average Days)	-107	-43.23	-62.63	-65.04	-56.74
Long Term Solvency
Total Debt/Equity	-93.71	-47.26	-146.83	-50.57	-51.73
Total Debt / Total Capital	-1.49K	-89.62	313.56	-102.3	-107.16
LT Debt/Equity	-65.69	-26.06	-65.33	-17.07	-20.62
Long-Term Debt / Total Capital	-1.05K	-49.42	139.51	-34.53	-42.71
Total Liabilities / Total Assets	141.8	255.98	153.44	419.57	280.07
EBIT / Interest Expense	-38.86	-10.81	-12.41	-5.1	1.16
EBITDA / Interest Expense	-33.81	-7.93	-7.51	-1.91	1.68
(EBITDA - Capex) / Interest Expense	-35.04	-17.19	-17.71	-4.08	1.65
Total Debt / EBITDA	-2.06	-1.51	-2.58	-5.12	6.65
Net Debt / EBITDA	-1.12	-1.27	-2.07	-3.84	5.51
Total Debt / (EBITDA - Capex)	-1.99	-0.7	-1.1	-2.39	6.79
Net Debt / (EBITDA - Capex)	-1.08	-0.59	-0.88	-1.79	5.63
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	1.18	97.71	-27.31	57.91	37.57
Gross Profit, 1 Yr. Growth %	-304.15	139.75	-121.67	-726.82	57.71
EBITDA, 1 Yr. Growth %	-61.64	59.02	2.59	-39.43	-134.12
EBITA, 1 Yr. Growth %	-61.34	84.37	15.37	-30.41	-118.79
EBIT, 1 Yr. Growth %	-61.34	84.37	15.37	-30.41	-118.79
Earnings From Cont. Operations, 1 Yr. Growth %	-63.07	-27.16	-145.79	-482.3	-93.99
Net Income, 1 Yr. Growth %	-94.27	147.77	-180.07	-263.11	-89.73
Normalized Net Income, 1 Yr. Growth %	-53.91	-2.62	-2.32	-147.8	-104.39
Diluted EPS Before Extra, 1 Yr. Growth %	-72.47	-45.79	-179.93	-240.97	-91.2
Accounts Receivable, 1 Yr. Growth %	-69.39	643.33	-15.7	240.43	153.44
Inventory, 1 Yr. Growth %	153.61	136.59	-30.93	99.25	-10.11
Net Property, Plant and Equip., 1 Yr. Growth %	-	-	70.39	-93.07	-18.52
Total Assets, 1 Yr. Growth %	31.45	-39.47	53.01	-58.56	64.33
Tangible Book Value, 1 Yr. Growth %	-57.47	106.83	-66.3	136.35	-6.84
Common Equity, 1 Yr. Growth %	-58.14	108.52	-66.04	136.35	-6.84
Cash From Operations, 1 Yr. Growth %	39.13	-146.58	-130.72	-150.26	22.34
Capital Expenditures, 1 Yr. Growth %	-	4.87K	10.67	-63.83	-98.66
Levered Free Cash Flow, 1 Yr. Growth %	-	-133.69	-540.91	-108.1	-275.82
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-137.79	-485.05	-112.88	-184.2
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	41.44	15.11	7.14	47.39
Gross Profit, 2 Yr. CAGR %	-	121.23	-42.95	16.55	214.41
EBITDA, 2 Yr. CAGR %	-	-21.89	27.72	-21.17	-54.54
EBITA, 2 Yr. CAGR %	-	-15.57	45.84	-10.4	-63.84
EBIT, 2 Yr. CAGR %	-	-15.57	45.84	-10.4	-63.84
Earnings From Cont. Operations, 2 Yr. CAGR %	-	-48.14	-42.25	32.31	-52.07
Net Income, 2 Yr. CAGR %	-	-62.33	40.85	14.28	-59.06
Normalized Net Income, 2 Yr. CAGR %	-	-33	-2.47	-31.67	-85.51
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-61.37	-34.17	2.89	-64.77
Accounts Receivable, 2 Yr. CAGR %	-	50.85	150.33	69.41	193.73
Inventory, 2 Yr. CAGR %	-	144.95	27.83	17.32	33.83
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-	-	-65.64	-76.24
Total Assets, 2 Yr. CAGR %	-	-10.8	-3.77	-20.37	-17.48
Tangible Book Value, 2 Yr. CAGR %	-	-6.21	-16.51	-10.75	48.38
Common Equity, 2 Yr. CAGR %	-	-6.57	-15.85	-10.42	48.38
Cash From Operations, 2 Yr. CAGR %	-	-19.5	-62.17	-60.7	-21.59
Capital Expenditures, 2 Yr. CAGR %	-	-	641.68	-36.73	-93.03
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	21.89	-40.24	-62.26
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	20.63	-29.57	-67.07
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	10.26	27.9	16.45
Gross Profit, 3 Yr. CAGR %	-	-	-12.74	26.82	28.91
EBITDA, 3 Yr. CAGR %	-	-	-14.46	-0.4	-40.37
EBITA, 3 Yr. CAGR %	-	-	-6.31	13.96	-46.77
EBIT, 3 Yr. CAGR %	-	-	-6.31	13.96	-46.77
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-50.24	8.44	-52.79
Net Income, 3 Yr. CAGR %	-	-	-51.57	47.91	-48.81
Normalized Net Income, 3 Yr. CAGR %	-	-	-24.03	-23.11	-72.63
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-50.78	-16.89	-54.66
Accounts Receivable, 3 Yr. CAGR %	-	-	24.25	177.34	93.75
Inventory, 3 Yr. CAGR %	-	-	60.63	48.22	7.35
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	-	-	-54.18
Total Assets, 3 Yr. CAGR %	-	-	6.77	-27.33	1.38
Tangible Book Value, 3 Yr. CAGR %	-	-	-33.32	18.1	-9.47
Common Equity, 3 Yr. CAGR %	-	-	-33.32	18.72	-9.24
Cash From Operations, 3 Yr. CAGR %	-	-	-41.61	-58.41	-42.62
Capital Expenditures, 3 Yr. CAGR %	-	-	-	170.97	-82.48
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-50.63	-14.37
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-42.77	-25.25
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	23.84
Gross Profit, 5 Yr. CAGR %	-	-	-	-	45.71
EBITDA, 5 Yr. CAGR %	-	-	-	-	-33.57
EBITA, 5 Yr. CAGR %	-	-	-	-	-35.98
EBIT, 5 Yr. CAGR %	-	-	-	-	-35.98
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	-	-50.98
Net Income, 5 Yr. CAGR %	-	-	-	-	-54.72
Normalized Net Income, 5 Yr. CAGR %	-	-	-	-	-60.84
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-	-57.47
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-	75.29
Inventory, 5 Yr. CAGR %	-	-	-	-	49.32
Total Assets, 5 Yr. CAGR %	-	-	-	-	-3.68
Tangible Book Value, 5 Yr. CAGR %	-	-	-	-	-8.18
Common Equity, 5 Yr. CAGR %	-	-	-	-	-8.18
Cash From Operations, 5 Yr. CAGR %	-	-	-	-	-34.3