DirectBooking Technology Co., Ltd.
ZDAI · General Bldg Contractors - Nonresidential Bldgs · EDGAR filings ↗
Grade
D45Hong Kong construction-transport subcontractor that swung from profit to a heavy loss on a 562% G&A spike, with related-party and PRC-governance overhang.
Strengths
- Revenue grew ~43% (86th pct) with adequate current/quick ratios (~66th–72nd pct)
- Low cash balance but positive working-capital position
Risks
- Net margin -36%, ROE -80%, ROIC -35% (all bottom-quartile); income collapsed >700%
- Thin gross margin (~9.8th pct), heavy related-party reliance (Chi Yip), and PRC/HK long-arm regulatory risk
Notable findings
- No interest coverageInterest coverage -31.93 (cannot cover interest)
- Net lossNet loss (net margin -36.2%)
- Customer concentration~73% of revenue from one customer/distributor — 2 % Cost of sales Cost of sales charged by third parties (9,672,689 ) (16,708,063 ) 72
Key metrics
Gross margin
8.7%
Operating margin
-37.2%
Net margin
-36.2%
Return on equity
-79.9%
Return on assets
-44.5%
ROIC
-58.4%
Revenue growth (QoQ)
43.2%
Net-income growth
-739.7%
Debt / equity
0.1×
Interest coverage
-31.9×
Current ratio
2.7×
Tangible book value
$9M
Cash & investments
$456K
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2025-08-14 | 2025-03-31 | 0001641172-25-023752 ↗ |
| 20-F | 2024-08-12 | 2024-03-31 | 0001493152-24-031335 ↗ |