Plutus Financial Group Ltd
PLUT · Security & Commodity Brokers, Dealers, Exchanges & Services · EDGAR filings ↗
Grade
F38Small Hong Kong brokerage with a cash runway under one quarter, deeply negative margins, and a pending reverse-merger.
Strengths
- Healthy reported current/quick ratio (3.45, 80th pct) from regulated brokerage balances
- Pending Choco Up merger and Golden Harvest trust investment offer a possible strategic pivot
Risks
- Cash runway 0.6 quarters (10th pct) with FCF -$80M and net margin -377%
- ROE -45% and ROA -33%; controlled-company governance with limited float
- Limited operating history and dependence on uncertain, repeatedly amended merger closing
Notable findings
- Net lossNet loss (net margin -377.3%)
- Cash burnNegative free cash flow (-10.3M)
Key metrics
Operating margin
-319.3%
Net margin
-377.3%
Return on equity
-45.2%
Return on assets
-33.0%
Revenue growth (QoQ)
6.9%
Current ratio
3.4×
Free cash flow
-$10M
EBITDA
-$4M
Tangible book value
$11M
Cash & investments
$2M
Cash runway
1q
Stock comp / revenue
-120.5%
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-05-11 | 2025-12-31 | 0001493152-26-022181 ↗ |
| 20-F | 2025-04-30 | 2024-12-31 | 0001641172-25-007901 ↗ |