mF International Limited (MFI) Income Statement
MFI 2025 at a glance
Fiscal year ended December 31, 2025 · Hong Kong dollarsMFI revenue and net income
Where MFI's revenue goes
2025Each bar shows an amount and its share of revenue. MFI kept 232.8% of revenue as net income.
MFI profit margins
MFI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +29.7% | −1.1% | −0.8% | — |
| Gross profit | −18.6% | −18.4% | −7.8% | — |
| Operating income | — | — | — | — |
| Net income | — | +126.0% | +46.5% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
MFI income statement in Hong Kong dollars
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Revenue | HK$33.8M | HK$26.1M | HK$32.0M | HK$34.9M | HK$32.2M | HK$35.2M |
| Cost of revenue | HK$23.8M | HK$13.8M | HK$14.0M | HK$16.5M | HK$16.3M | HK$20.2M |
| Gross profit | HK$10.0M | HK$12.3M | HK$18.0M | HK$18.4M | HK$16.0M | HK$15.0M |
| Research & development | HK$45,967 | HK$172,810 | HK$11,373 | HK$80,012 | HK$29,478 | HK$543,805 |
| Sales, general & admin | HK$44.3M | HK$31.5M | HK$11.3M | HK$10.8M | HK$5.4M | HK$5.5M |
| Total operating expenses | HK$44.4M | HK$31.7M | HK$11.3M | HK$10.9M | HK$5.4M | HK$6.0M |
| Operating income | −HK$34.3M | −HK$19.4M | HK$6.7M | HK$7.5M | HK$10.5M | HK$9.0M |
| Interest income | HK$543,794 | HK$426,232 | — | — | — | — |
| Interest expense | HK$287,825 | HK$325,084 | HK$353,000 | HK$443,577 | HK$479,904 | — |
| Income before taxes | HK$75.7M | −HK$19.4M | HK$6.8M | HK$7.2M | HK$10.8M | HK$12.5M |
| Income taxes | −HK$3.0M | HK$781,759 | HK$148,309 | HK$387,845 | HK$431,630 | HK$815,267 |
| Net income | HK$78.7M | −HK$20.2M | HK$6.6M | HK$6.8M | HK$10.3M | HK$11.7M |
| EBITDA | −HK$25.0M | −HK$13.3M | HK$14.0M | HK$15.6M | HK$18.5M | HK$9.4M |
| Gross margin | 29.6% | 47.2% | 56.2% | 52.7% | 49.5% | 42.7% |
| Operating margin | −101.6% | −74.3% | 20.9% | 21.6% | 32.7% | 25.6% |
| Net margin | 232.8% | −77.5% | 20.7% | 19.5% | 32.1% | 33.2% |
| Jun '26 | Mar '26 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$12.0M | HK$18.7M | HK$15.1M | HK$6.8M | HK$13.6M | HK$6.8M | HK$12.5M | HK$6.2M | HK$17.8M | HK$8.9M | HK$14.2M | HK$7.1M |
| Cost of revenue | HK$4.6M | HK$15.7M | HK$9.7M | HK$3.3M | HK$6.6M | HK$3.3M | HK$7.2M | HK$3.6M | HK$7.1M | HK$3.5M | HK$6.9M | HK$3.4M |
| Gross profit | HK$7.4M | HK$3.0M | HK$5.4M | HK$3.5M | HK$7.0M | HK$3.5M | HK$5.3M | HK$2.6M | HK$10.7M | HK$5.4M | HK$7.3M | HK$3.6M |
| Research & development | — | HK$25,000 | HK$20,912 | HK$31,788 | HK$63,576 | HK$31,788 | HK$109,232 | HK$54,616 | HK$11,374 | HK$5,687 | — | — |
| Sales, general & admin | — | — | HK$19.4M | HK$10.0M | HK$20.0M | HK$10.0M | HK$11.5M | HK$5.7M | HK$6.6M | HK$3.2M | HK$4.7M | HK$2.3M |
| Total operating expenses | HK$33.5M | HK$23.3M | HK$19.4M | HK$10.0M | HK$20.1M | HK$10.0M | HK$11.6M | HK$5.8M | HK$6.6M | HK$3.1M | HK$4.7M | HK$2.3M |
| Operating income | −HK$26.1M | −HK$20.2M | −HK$14.1M | −HK$6.5M | −HK$13.0M | −HK$6.5M | −HK$6.3M | −HK$3.2M | HK$4.1M | HK$2.1M | HK$2.6M | HK$1.3M |
| Interest expense | — | — | — | — | — | — | HK$99,354 | — | — | — | — | — |
| Income before taxes | −HK$2.13B | HK$89.4M | −HK$13.9M | −HK$6.5M | −HK$13.0M | −HK$6.5M | −HK$4.7M | −HK$3.2M | HK$4.4M | HK$2.2M | HK$2.4M | HK$1.2M |
| Income taxes | HK$9,307 | −HK$2.8M | −HK$211,956 | HK$837,562 | HK$1.7M | HK$837,562 | HK$893,364 | HK$446,682 | HK$21,048 | HK$10,524 | HK$169,358 | HK$84,679 |
| Net income | −HK$2.13B | HK$92.2M | −HK$13.7M | −HK$7.3M | −HK$14.7M | −HK$7.3M | −HK$5.5M | −HK$2.8M | HK$4.4M | HK$2.2M | HK$2.2M | HK$1.1M |
| EBITDA | −HK$24.7M | −HK$14.9M | −HK$10.2M | −HK$6.5M | −HK$10.2M | −HK$6.5M | −HK$3.1M | −HK$3.2M | HK$7.5M | HK$2.1M | HK$6.5M | HK$1.3M |
| Gross margin | 62.0% | 16.2% | 35.5% | 51.5% | 51.5% | 51.5% | 42.4% | 42.4% | 60.1% | 60.1% | 51.3% | 51.3% |
| Operating margin | −217.0% | −108.1% | −93.4% | −95.8% | −95.8% | −95.8% | −50.7% | −50.7% | 23.2% | 23.2% | 18.1% | 18.1% |
| Net margin | −17,742.1% | 492.9% | −90.9% | −107.7% | −107.7% | −107.7% | −44.5% | −44.5% | 24.8% | 24.8% | 15.7% | 15.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in Hong Kong dollars as reported in MFI's financial statements (latest annual report filed June 29, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
MFI financial results
In fiscal year 2025 (ended December 31, 2025), mF International reported revenue of HK$33.8 million, up 29.7% from the year before. It had net income of HK$78.7 million, a net profit margin of 232.8%. Over five years revenue grew at an average rate of −0.8% a year. Figures are in Hong Kong dollars, the currency of its financial statements.
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MFI income statement FAQ
What is mF International's annual revenue?
mF International reported total revenue of HK$33.8 million for fiscal year 2025, which ended on December 31, 2025. That was up 29.7% from HK$26.1 million the previous year.
Is mF International profitable?
Yes. mF International reported net income of HK$78.7 million in fiscal 2025, a net profit margin of 232.8%; its operating margin was −101.6%.
What is mF International's gross margin?
mF International's gross margin was 29.6% in fiscal 2025: for every $100 of revenue, mF International kept $30 after the direct cost of its products and services.
How much does mF International spend on research and development?
mF International spent HK$0.0 million on research and development in fiscal 2025, 0.1% of revenue.
How fast is mF International growing?
Revenue grew −0.8% a year on average over the last five fiscal years, from HK$35.2 million to HK$33.8 million.
When does mF International's fiscal year end?
mF International's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on June 29, 2026.