Delixy Holdings Limited Reports Unaudited Financial Results for the First Six Months of Fiscal Year 2025
SINGAPORE, Dec. 30, 2025 /PRNewswire/ -- Delixy Holdings Limited (Nasdaq: DLXY) (the "Company" or "Delixy"), a Singapore-based company engaged in the trading of oil related products, today announced its unaudited financial results for the six months ended June 30, 2025.
First Six Months of Fiscal Year 2025 Financial Summary
- Revenue was $102.0 million for the six months ended June 30, 2025, compared to $143.8 million for the same period last year.
- Gross profit was $1.1 million for the six months ended June 30, 2025, compared to $1.8 million for the same period last year.
- Net income was $0.6 million for the six months ended June 30, 2025, an increase from $0.5 million for the same period last year.
- Basic and diluted income per share was $0.04 for the six months ended June 30, 2025, an increase from $0.03 for the same period last year.
Mr. Dongjian Xie, Executive Chairman and Chief Executive Officer of Delixy, commented, "During the first half of fiscal year 2025, we remained focused on efficiency while navigating a dynamic market environment. This approach allowed us to strengthen profitability and deliver improved operating results. While revenues during the period reflected softer market activity, our general and administrative expenses declined significantly year-over-year, reflecting streamlined corporate operations and strong expense controls. As a result, our profits from operations increased to $0.4 million from $0.2 million for the same period last year, and net income rose to $0.6 million from $0.5 million.
"On July 9, 2025, our ordinary shares commenced trading on Nasdaq following our initial public offering (the "IPO"), marking a major milestone for Delixy. The IPO strengthened our balance sheet, enhanced our visibility in the capital markets, and further improved our corporate governance framework. Looking ahead, we plan to continue to emphasize disciplined execution and prudent growth initiatives. With the foundation established as a public company, we believe Delixy is well positioned to pursue sustainable growth and create long-term value for our shareholders."
First Six Months of Fiscal Year 2025 Unaudited Financial Results
Revenues
Revenues were $102.0 million for the six months ended June 30, 2025, a decrease from $143.8 million for the same period last year. The decrease was primarily attributable to the lower selling price, following weak oil demand and lower international oil price in first half of 2025.
Cost of Revenue
Cost of revenue was $100.9 million for the six months ended June 30, 2025, a decrease from $142.0 million for the same period last year. The decrease was primarily due to a weaker world oil market, with lower oil price we traded in.
Gross Profit
Gross profit was $1.1 million for the six months ended June 30, 2025, a decrease from $1.8 million for the same period last year.
General and Administrative Expenses
General and administrative expenses were $0.7 million for the six months ended June 30, 2025, a decrease from $1.6 million for the same period last year. The decrease was primarily driven by less vessel chartering and less logistics expense due to a high stocks of crude oil and oil products in far east.
Net Income
Net income was $0.6 million for the six months ended June 30, 2025, an increase from $0.5 million for the same period last year.
Basic and Diluted Income per Share
Basic and diluted income per share was $0.04 for the six months ended June 30, 2025, an increase from $0.03 for the same period last year.
Financial Condition
As of June 30, 2025, the Company had cash and cash equivalents of $1.8 million, compared to $5.6 million as of June 30, 2024.
Net cash used in operating activities was $0.6 million for the six months ended June 30, 2025, compared to $1.4 million for the same period last year.
Net cash used in investing activities was $0.5 million for the six months ended June 30, 2025, compared to net cash provided of $1.3 million for the same period last year.
Net cash used in financing activities was $2.7 million for the six months ended June 30, 2025, compared to $2.5 million for the same period last year.
About Delixy Holdings Limited
Delixy Holdings Limited is a Singapore-based company principally engaged in the trading of oil-related products, including (i) crude oil and (ii) oil-based products such as fuel oils, motor gasoline, additives, gas oil, base oils, asphalt, naphtha (heavy gasoline) and petrochemicals. Operating across multiple countries in Southeast Asia, East Asia, and Middle East, Delixy has established a strong presence in the region's oil trading markets. While Delixy maintains a diversified portfolio of oil products, crude oil trading represents a core aspect of its business. The Company leverages its strong existing relationships with customers and suppliers as well as deep industry expertise to provide value-added services, including tailored recommendations on optimal trading strategies and shipping and logistical support where required. In addition, the Company's financing capabilities allow it to extend credit terms to customers while satisfying suppliers' immediate payment terms. For more information, please visit the Company's website: .
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as "believe", "plan", "expect", "intend", "should", "seek", "estimate", "will", "aim" and "anticipate" or other similar expressions in this prospectus. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Registration Statement and other filings with the U.S. Securities and Exchange Commission (the "SEC").
For media inquiries, please contact:
Delixy Holdings Limited
Investor Relations Department
Email:
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email:
DELIXY HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(Amount in USD thousands, except for share and per share data, or otherwise noted)
As of Jun 30,
2024
As of Jun 30,
2025
US$'000
US$'000
ASSETS
Current assets:
Cash and cash equivalents
5,609
1,824
Accounts receivable, net
3,772
18,648
Deposits, prepayments and other receivables
34
502
Derivative financial instruments
312
831
Total current assets
9,727
21,805
Non-current assets:
Property and equipment, net
4
1
Right-of-use assets, net
99
37
Deferred offering costs
1,152
2,492
Total non-current assets
1,255
2,530
TOTAL ASSETS
10,982
24,335
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable
2,521
18,227
Accrued liabilities
87
51
Dividend payables
2,245
Amount due to shareholder
99
1
Lease liabilities
62
38
Income tax payable
157
105
Total current liabilities
5,171
18,422
Non-current liabilities:
Lease liabilities
36
Loan from shareholder
5,000
4,000
Non-current liability
5,036
4,000
TOTAL LIABILITIES
10,207
22,422
Commitments and contingencies
—
—
Shareholders' equity:
Ordinary share, par value US$0.000005, 100,000,000,000 shares authorized,
15,000,000 shares issued*
**
**
Additional paid-up capital
695
695
Retained earnings
34
1172
Other reserve
46
46
Total shareholders' equity
775
1,913
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
10,982
24,335
* Retrospectively restated for the effect of 1:200 forward stock split of our Ordinary Shares and the shares surrendered by our existing shareholders.
** — Denotes amount less than US$1,000.
DELIXY HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(UNAUDITED)
(Amount in USD thousands, except for share and per share data, or otherwise noted)
For the six months period ended
June 30,
2024
2025
US$'000
US$'000
Revenues
143,761
102,000
Cost of revenue
(141,959)
(100,925)
Gross profit
1,802
1,075
General and administrative expenses
(1,635)
(692)
Profits from operations
167
383
Other income:
Gain on disposal of property
177
Foreign exchange gain
1
8
Interest income
135
35
Shipping charges reimbursed
10
201
Other income
5
1
Total other income
328
245
Income before income tax
495
628
Income tax expense
(45)
(68)
NET INCOME
450
560
TOTAL COMPREHENSIVE INCOME
450
560
Net income per share
Basic and diluted**
0.030
0.037
Weighted average number of ordinary shares outstanding Basic and diluted**
15,000,000
15,000,000
* — Denotes amount less than US$1,000.
** Retrospectively restated for the effect of 1:200 forward stock split of our Ordinary Shares and the shares surrendered by our existing shareholders.
DELIXY HOLDINGS LIMITED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOW
(UNAUDITED)
(Amount in USD thousands, except for share and per share data, or otherwise noted)
For the six months period ended
June 30,
2024
2025
US$'000
US$'000
Cash flows from operating activities:
Net income after tax
450
560
Depreciation of property and equipment
7
3
Amortization of right-of-use assets
20
25
Gain on disposal of property
(177)
Interest expense
89
(88)
Change in working capital:
Accounts receivable, net
(3,059)
(14,876)
Deposits, prepayments and other receivables
1
(468)
Other non-current assets
(1,152)
(1,340)
Accounts payable
2,521
15,706
Accrued liabilities
12
(36)
Lease liabilities
(22)
(23)
Income tax payable
(89)
(52)
Net cash provided by/(used in) operating activities
(1,399)
(589)
Cash flows from investing activities:
Derivative financial instruments
295
(519)
Proceeds from disposal of property
957
Amount due from shareholder
—
Net cash (used in)/provided by investing activities
1,252
(519)
Cash flows from financing activities:
Amount due to related party
—
Amount due to shareholder
11
(10)
Dividend paid
(2,500)
(2,667)
Net cash used in financing activities
(2,489)
(2,677)
Net change in cash and cash equivalents
(2,636)
(3,785)
BEGINNING OF FINANCIAL PERIOD
8,245
5,609
END OF FINANCIAL PERIOD
5,609
1,824
Supplemental Cash Flow Information:
Cash paid for income taxes
(134)
(90)
Cash paid for interest
(1)
(5)
Supplemental schedule of noncash financing activities
Loan from shareholder
5,000
4,000