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v3.25.3

Bank Borrowings | 12 Months Ended
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Jun. 30, 2025
Bank Borrowings [Abstract] |
Bank borrowings | (9) Bank borrowings Outstanding balances of banks borrowings as of June 30, 2025 and 2024 consisted of the following:
|  | As of June 30, |
|  | 2025 |  |  | 2024 |
|  | $ |  |  | $ |
Bank borrowings: |  |  |  |  |  |
Guaranteed |  |  | 2,734,186 |  |  |  | 3,157,475 |
Collateralized and guaranteed |  |  | 3,374,366 |  |  |  | 2,425,190 |
|  |  | 6,108,552 |  |  |  | 5,582,665 |
The details of bank borrowings as at June 30, 2025 and 2024 are as follows:
|  |  |  | Maturity |  |  |  | Weighted-average interest rate |  |  | As of June 30, |
Lender |  | Type |  | date |  | Currency |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
DBS Bank Hong Kong Limited |  | Bank borrowing |  | November 2027 |  | HKD |  |  | - |  |  |  | 7.31 | % |  |  | - |  |  | $ | 1,800,902 |
Bank of China (Hong Kong) Limited |  | Bank borrowing |  | June 2027 |  | HKD |  |  | 3.61 | % |  |  | 6.96 | % |  | $ | 6,108,552 |  |  |  | 2,821,221 |
Hang Sang Bank Limited |  | Bank borrowing |  | July 2024 |  | HKD |  |  | - |  |  |  | 6.93 | % |  |  | - |  |  |  | 960,542 |
Total bank borrowings |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 6,108,552 |  |  | $ | 5,582,665 |
|  | Carrying value |  |  | Within 1 year or on demand |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | Thereafter |
|  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |
Loan type of HKD currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2024 |  |  | 5,582,665 |  |  |  | 5,582,665 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  |  | 5,582,665 |  |  |  | 5,582,665 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | Carrying value |  |  | Within 1 year or on demand |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | Thereafter |
|  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |  |  | $ |
Loan type of HKD currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2025 |  |  | 6,108,552 |  |  |  | 6,108,552 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  |  | 6,108,552 |  |  |  | 6,108,552 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
The average bank borrowings rates for the years ended June 30, 2025, 2024 and 2023 were 6.62%, 7.07%and 5.69%, respectively. As of June 30, 2025, and 2024, the Company had bank borrowings of US$6,108,552 and US$5,582,665, respectively, which contained repayment on demand clauses. Accordingly, portions of the bank borrowings with Bank of China (Hong Kong) Limited contractually due for repayment after one year as of June 30, 2025 and 2024 with carrying amounts of US$ 3,374,366 and US$2,425,190, respectively, were classified as current liabilities. For the purpose of the illustration, such bank borrowing is included within short-term bank borrowings and showed as bank borrowings repayable within one year or on demand. Total interest for the bank borrowings for the years ended June 30, 2025, 2024 and 2023 was US$ 354,444, US$850,614 and US$684,358, respectively. Saved to the above disclosure, the following table represent other major loan covenants of aforementioned bank loans:
| (i) | guarantees given by certain shareholders namely Mr. Lai Yau Chuen, Mr. Lai Yau Fai, Mr. Lai Yau Chi and Mr. Lai Yau Sang as of June 30, 2024. These guarantees were released by the bank as of June 30, 2025.
| (ii) | guarantees given by certain related companies controlled by the shareholders namely Wah Tong Paper Products Factory Limited and Yee Woo Paper Packaging (China) Company Limited as of June 30, 2025 and 2024. These guarantees were released by the bank as of June 30, 2025.
| (iii) | The Company previously pledged a leasehold land in Huizhou, China as of June 30, 2024, 2023 and 2022. The pledge was released in 2025.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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