Advanced Biomed Inc.
For the period ended Dec 31, 2025. Filed Feb 13, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2025 · Filed Feb 13, 2026
ADVB$1.98+4.2%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-09-30; filed 2025-11-19.
0001213900-25-112602
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-12-31; filed 2026-02-13.
0001213900-26-016458
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 120 previous paragraphs and 102 current paragraphs.
72 unchanged; 21 reworded; 8 added; 23 removed; 4 previous and 1 current paragraphs rearranged.
Tables are not compared: 20 previous and 18 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (8)
Current report
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
Current report
Recent developments
Current report
On December 23, 2025, the Company entered into an agreement (the “Agreement”) with an unrelated third party, Wei Ha Hui (the “Buyer”), pursuant to which the Company agreed to sell 100% of the issued and outstanding shares of Advanced Biomed (HK) Limited, a Hong Kong company and a wholly owned subsidiary of the Company (the “Hong Kong Subsidiary”), for an aggregate purchase price of US$23,000 based on a valuation report commissioned by the Company, subject to the terms and conditions set forth in the Agreement. All intellectual property owned by the Hong Kong subsidiary, including intellectual property owned by Shanghai Sglcell Biotech Co., Ltd., a wholly owned subsidiary of the Hong Kong subsidiary, was transferred to the Buyer at the closing of this transaction on December 31, 2025. The subsidiary comprises our market development and clinical-related business operating segment.
Current report
For the six-month period ended December 31, 2025, as a result of the sale of the 100% of the issued and outstanding shares of Advanced Biomed (HK) Limited, a Hong Kong company and a wholly owned subsidiary of the Company completed during the period, the Company deconsolidated the subsidiary as of December 31, 2025. Therefore, the Company reported no assets or liabilities of the subsidiary as of December 31, 2025 and recognized a net gain on deconsolidation of approximately $7,346,684, which has been reflected as a component of other (expense) income.
Current report
Net Income (Loss) for the Period
Current report
On January 28, 2026, the Company entered into a securities purchase agreement (the “Securities Purchase Agreement”) with certain investors (the “Investors”) relating to the issuance and sale of 4,000,000 shares of common stock (the “Purchased Shares”), par value $0.001 per share, of the Company (the “Common Stock”), at $0.062 per share for a total purchase price of $248,000 (the “Purchase Price”). The transaction was closed and the Purchased Shares were issued on January 29, 2026.
Current report
On January 30, 2026, the Company issued 1,650,710 shares of Common Stock to Helena Global Investment Opportunities I Ltd (the “Investor”) pursuant to an agreement signed with the Investor granted the Company an equity line of credit of up to $25,000,000 in shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), subject to terms and conditions set forth in the agreement (the “Agreement”).as the consideration for its commitment under the Agreement, with an aggregate value of $500,000 at the time of issuance (the “Commitment Fee Shares”), thereby fulfilling its obligation under the Agreement.
Current report
For the six-month period ended December 31, 2025, our net cash used in investing activities was approximately $15,000, primarily attributable to the purchase of equipment.
Removed paragraphs (23)
Previous report
We are looking for suitable locations in the states of California and Washington for our planned expansion to the North America market. We aim to complete site selection and personnel recruitment in the United States in January 2026 and start product registration, testing and production afterward. Our US subsidiary will be responsible for the production and registration of our equipment and related products in the US. Production, testing, and clinical trials in our US market will be conducted in accordance with US regulations, and clinical data from trials conducted in China will not be used to establish product standards. In addition, we plan to break into the European market in January 2026 and conduct localized management and operations in accordance with European regulations. In 2026, we plan to also start the localized registration of our IVD products in Europe. As of the date of this Report, we have not conducted any clinical trials for our products.
Previous report
We plan to begin the clinical research for A+LCGuard in January 2026, and we anticipate the clinical research will end in June 2026.
Previous report
For the years ended June 30, 2025 and 2024, our other expense, net amounted to $(0.3) million and $(0.3) million, respectively. There’s no significant change from the year ended June 30, 2024 to 2025.
Previous report
Net Loss for the Year/Period
Previous report
As a result of the foregoing, our net loss for the year ended June 30, 2025 was $3.3 million, compared to a loss from operations of $2.8 million for the year ended June 30, 2024.
Previous report
During the years ended June 30, 2025 and 2024, the operating activities were primarily comprised the research and development activities, staff costs and administrative expenses.
Previous report
For the year ended June 30, 2025, our net cash used in operating activities was approximately $5.8 million, which primarily reflected our net loss of approximately $3.3 million, as primarily adjusted by the (i) non-cash depreciation and amortization of approximately $0.3 million, positively offset by (ii) increase in prepaid expenses and other current assets of approximately $2.7 million.
Previous report
For the year ended June 30, 2024, our net cash used in operating activities was approximately $2.1 million, which primarily reflected our net loss of approximately $2.8 million, as primarily adjusted by the (i) non-cash depreciation and amortization of approximately $0.4 million positively offset by (ii) increase in accounts payable, accrual and other current liabilities of approximately $0.5 million and negatively impacted by increase in prepaid expenses and other current assets of approximately $0.3 million.
Previous report
For the year ended June 30, 2025, our net cash used in investing activities was approximately $0.03 million, primarily attributable to the purchase of equipment.
Previous report
For the year ended June 30, 2024, our net cash used in investing activities was approximately $0.08 million, primarily attributable to the purchase of equipment.
Previous report
For the three-month period ended September 30, 2025, our net cash used in investing activities was approximately $2 thousand, primarily attributable to the purchase of equipment.
Previous report
For the year ended June 30, 2025, our Company recorded net cash generated from financing activities of approximately $5.9 million, which was mainly attributable to the proceeds from issuance of shares of approximately $5.5 million.
Previous report
For the year ended June 30, 2024, our Company recorded net cash generated from financing activities of approximately $1.9 million, which was mainly attributable to the initial public offering costs and certain expenditures paid on behalf by the related parties and loans from the related parties totaling approximately $1.9 million.
Previous report
Intangible assets, net
Previous report
Software represents purchased software and is amortized straight-line over the Company’s estimates to generate economic benefits from such software, generally three years.
Previous report
Patents represent the estimated fair value assigned to finite-lived intangible assets acquired in a transaction that is accounted for as an acquisition of assets rather than a business combination are initially recognized in accordance with other application GAAP. Any consideration transferred in excess of the fair value of the assets acquired is allocated to each asset acquired on a relative fair value basis. Amortization is computed using the straight-line method over the estimated useful lives of the respective finite-lived intangible assets, generally six years. Intangible assets are reviewed for impairment at least annually or more frequently if indicators of potential impairment exist. The Company reviews finite-lived intangible assets for impairment at least annually or more frequently if events or changes in circumstances indicate that the carrying value of the assets might not be recoverable. The Company had previously recognized an impairment loss on certain intangible assets in prior years. The remaining intangible assets were assessed for impairment as of the balance sheet date, and management concluded that no further impairment was required.
Previous report
Key sources of estimation uncertainty
Previous report
The key assumptions concerning the future and other key sources of estimation uncertainty at the end of the reporting period, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are disclosed below:
Previous report
Impairment of intangible assets
Previous report
The Company reviews finite-lived intangible assets for impairment at least annually or more frequently if events or changes in circumstances indicate that the carrying value of the assets might not be recoverable. Accounting standards require that if the sum of the future cash flows expected to result from a company’s asset, undiscounted and without interest charges, is less than the reported value of the asset, an asset impairment must be recognized in the financial statements. The amount of impairment to recognize is calculated by subtracting the fair value of the asset from the reported value of the asset. As disclosed in note 6 to the consolidated financial statements for the years ended June 30, 2025 and 2024, the intangible asset related to acquired patents are carried forward through the acquisition of Shanghai Sglcell since the year ended June 30, 2022.
Previous report
The Company believe that the accounting estimate related to asset impairment is a “critical accounting estimate” because: (1) it is susceptible to change from period to period because it requires company management to make assumptions about future sales and cost of sales over the life of the products arising from the patents acquired (generally six years); and (2) the impact that recognizing an impairment would have on the assets reported on our balance sheet as well as our net loss would be material. Management’s assumptions about future sales prices and future sales volumes of the products arising from the patents acquired require significant judgment because actual sales prices and volumes have fluctuated in the past and are expected to continue to do so. Management has discussed the development and selection of this critical accounting estimate with our board of directors and the board has reviewed the Company’s disclosure relating to it in this MD&A. In estimating future sales, we use our internal budgets. We develop our budgets based on estimated sales data for new products, planned timing of new product launches, customer commitments related to newly developed products.
Previous report
The Company had previously recognized an impairment loss on certain intangible assets in prior years. The remaining intangible assets were assessed for impairment as of the balance sheet date, and management concluded that no further impairment was required.
Previous report
The management has assessed that risk related to using different assumptions and analyze their sensitivity to change based on outcomes that are deemed reasonably likely to occur and concluded any change would not have affected our liquidity and capital resources with the impairment recognized as of September 30, 2025 and June 30, 2025.
Reworded paragraphs (21)
Previous wording
The following discussion should be read in conjunction with our unaudited interim condensed consolidated financial statements and the related notes contained elsewhere in this Report and in our other U.S. Securities and Exchange Commission filings. The following discussion may contain predictions, estimates, and other forward-looking statements that involve a number of risks and uncertainties, including those discussed under “Risk Factors” of our annual report on Form 10-K filed with the U.S. Securities and Exchange Commission on October 8, 2025, and elsewhere in this Report. These risks could cause our actual results to differ materially from any future performance suggested below.
Current wording
The following discussion should be read in conjunction with our unaudited interim condensed consolidated financial statements and the related notes contained elsewhere in this Report and in our other U.S. Securities and Exchange Commission filings. The following discussion may contain predictions, estimates, and other forward-looking statements that involve a number of risks and uncertainties, including those discussed under “Risk Factors” of our annual report on Form 10-K filed with the U.S. Securities and Exchange Commission, and elsewhere in this Report. These risks could cause our actual results to differ materially from any future performance suggested below.
Previous wording
We also developed a product for early screening of lung cancer, the A+LCGuard Lung Cancer Early Screening Kit (“A+LCGuard”), which is used to assist in the determination of benign and malignant pulmonary nodules. From August 2020 to September 2022, we finalized the research, design, and development of A+LCGuard. A+LCGuard is Class III medical devices and is required to conduct clinical trials before completing the registration process. We plan to begin A+LCGuard’s clinical research in January 2026. Specifically, in June 2025, the Company and the CRO began collaborating on drafting the clinical research protocol and started preparing the necessary equipment, consumables, reagent kits, and other materials for the study. We expect that the clinical research protocol may pass ethical review and receive ethics committee approval by the end of December 2025. Thereafter, we plan to initiate the trial stage of the clinical research, with completion anticipated within six months of January 2026. We believe the results of the clinical research will inform the work plan for future large-scale clinical trials, minimizing waste from an excessively large sample size or insufficient statistical power due to a sample size that is too small. We recognize that the clinical research results may differ from expectations and may not support our expected progression to clinical trials. If so, we plan to promptly optimize the product, adjust participant group selection, and modify the final protocol for large-scale clinical trials. However, we cannot guarantee that any clinical research or trial will meet our anticipated outcomes. Furthermore, delays in obtaining ethical approval or recruiting participants could prevent the clinical research from being completed on schedule. Such delays could subsequently postpone the large-scale clinical trial and ultimately the product launch date.
Current wording
We also developed a product for early screening of lung cancer, the A+LCGuard Lung Cancer Early Screening Kit (“A+LCGuard”), which is used to assist in the determination of benign and malignant pulmonary nodules. From August 2020 to September 2022, we finalized the research, design, and development of A+LCGuard. A+LCGuard is Class III medical devices and is required to conduct clinical trials before completing the registration process. We believe the results of the clinical research will inform the work plan for future large-scale clinical trials, minimizing waste from an excessively large sample size or insufficient statistical power due to a sample size that is too small. We recognize that the clinical research results may differ from expectations and may not support our expected progression to clinical trials. If so, we plan to promptly optimize the product, adjust participant group selection, and modify the final protocol for large-scale clinical trials. However, we cannot guarantee that any clinical research or trial will meet our anticipated outcomes. Furthermore, delays in obtaining ethical approval or recruiting participants could prevent the clinical research from being completed on schedule. Such delays could subsequently postpone the large-scale clinical trial and ultimately the product launch date.
Previous wording
For the years ended June 30, 2025 and 2024 and three-month periods ended September 30, 2025 and 2024, the Company conducted its business through Advanced Biomed Taiwan and Shanghai Sglcell’s subsidiaries as research and development centers for technology research and product development.
Current wording
For the six-month periods ended December31, 2025 and 2024, the Company conducted its business through Advanced Biomed Taiwan as research and development centers for technology research and product development.
Previous wording
Comparison of Results of Operations for the Fiscal Years Ended June 30, 2025 and 2024
Current wording
Comparison of Results of Operations for the Six-Month Periods Ended December 31, 2025 and 2024
Previous wording
For the years ended June 30, 2025 and 2024, we incurred research and development expenses of $910 thousand and $880 thousand, respectively. The research and development expenses slight increased by approximately $30 thousand or 3% for the year ended June 30, 2025 mainly due to increase in clinical development activities.
Current wording
For the three-month period ended December 31, 2025 and 2024, we incurred research and development expenses of $186 thousand and $212 thousand, respectively. The research and development expenses slightly decreased by approximately $26 thousand or 12% for the three-month period ended December 31, 2025 mainly due to reduction in clinical development activities.
Previous wording
For the three-month periods ended September 30, 2025 and 2024, we incurred research and development expenses of $236 thousand and $182 thousand , respectively. The research and development expenses increased by approximately $54 thousand or 30% mainly due to increase in clinical development activities during the three-month periods ended September 30, 2025.
Current wording
For the six-month periods ended December 31, 2025 and 2024, we incurred research and development expenses of $422 thousand and $380 thousand , respectively. The research and development expenses increased by approximately $42 thousand or 11% mainly due to increase in clinical development activities during the six-month periods ended December 31, 2025.
Previous wording
Our general and administrative expenses primarily consist of (i) staff cost; (ii) depreciation and amortization; (iii) office supplies and upkeep expenses; (iv) travelling and entertainment; (v) legal and professional fees; (vi) property and related expenses; and (vii) miscellaneous expenses. The following table sets forth the breakdown of our general and administrative expenses for the years ended June 30, 2025 and 2024 and the three-month periods ended September 30, 2025 and 2024:
Current wording
Our general and administrative expenses primarily consist of (i) staff cost; (ii) depreciation and amortization; (iii) office supplies and upkeep expenses; (iv) travelling and entertainment; (v) legal and professional fees; (vi) property and related expenses; and (vii) miscellaneous expenses. The following table sets forth the breakdown of our general and administrative expenses for the three-month and six-month periods ended December 31, 2025 and 2024:
Previous wording
For the three-month periods ended September 30, 2025 and 2024, our general and administrative expenses amounted to $0.29 million, $0.34 million, respectively. The decrease in administrative expenses by approximately $0.05 million or 15% for the three-month period ended September 30, 2025, is mainly attributable to the decrease in staff cost, travelling and entertainment and miscellaneous expenses.
Current wording
For the three-month periods ended December 31, 2025 and 2024, our general and administrative expenses amounted to $0.2 million, $0.07 million, respectively. The increase in administrative expenses by approximately $0.14 million or 211% for the three-month period ended December 31, 2025, is mainly attributable to the increase in staff cost and professional fees.
Previous wording
For the years ended June 30, 2025 and 2024, our general and administrative expenses amounted to $2.1 million and $1.7 million, respectively. The increase in administrative expenses by approximately $0.4 million or 27% for the year ended June 30, 2025, is mainly attributable to the decrease in the staff costs, depreciation and amortization, and property and related expenses which offset by the increase in travelling and entertainment expenses, legal and professional fees, office supplies and upkeep expenses and miscellaneous expenses.
Current wording
For the six-months period ended December 31, 2025 and 2024, our general and administrative expenses amounted to $0.4 million and $0.1 million, respectively. The increase in administrative expenses by approximately $0.3 million or 190% for the six-month period ended December 31, 2025, is mainly attributable to the increase in the staff costs and professional fees.
Previous wording
For the three-months period ended September 30, 2025 and 2024, our other income, net amounted to $0.1 million and $0.2 million, respectively. The decrease in other expense, net by approximately $0.1 million for the three-month period ended September 30, 2025, is mainly attributable to the exchange gain resulted from revaluation of the foreign currency balances of approximately $0.1 million for the three-month period ended September 30, 2025 as compared with exchange gain of $0.2 million recorded for the three-month period ended September 30, 2024.
Current wording
For the three-months periods ended December 31, 2025 and 2024, our other income, net amounted to $0.04 million and other expense, net amounted $0.3 million, respectively. The increase in other income, net by approximately $0.4 million for the three-month period ended December 31, 2025, is mainly attributable to the exchange gain resulted from revaluation of the foreign currency balances of approximately $0.04 million for the three-month period ended December 31, 2025 as compared with exchange loss of $0.3 million recorded for the six-month period ended December 31, 2024.
Previous wording
Our loss from operations was $0.4 million and $0.3 million for the three-month periods ended September 30, 2025 and 2024, respectively.
Current wording
As a result of the foregoing, our net income (loss) from operations was $6.5 million and $(1.2) million for the six-month periods ended December 31, 2025 and 2024, respectively.
Previous wording
The Company’s ability to continue as a going concern depends upon its ability to develop, register and obtain regulatory approval for commercial sell of its products to generate positive operating cash flows. For the financial year ended June 30, 2025 and the three-month period ended September 30, 2025, the Company reported net loss of $3,258,969 and $386,901, respectively. As of June 30, 2025 and September 30, 2025, the Company’s working capital surplus was $3,143,443 and $2,799,181 respectively. In addition, the Company had net cash outflows of $5,825,055 and $610,342 from operating activities for the financial year ended June 30, 2025 and the three-month period ended September 30, 2025. These conditions give rise to substantial doubt as to whether the Company will be able to continue as a going concern.
Current wording
The Company’s ability to continue as a going concern depends upon its ability to develop, register and obtain regulatory approval for commercial sell of its products to generate positive operating cash flows. For the financial year ended June 30, 2025 and the six-month period ended December 31, 2025, the Company reported net (loss) income of $(3,258,969) and $6,471,020, respectively. As of June 30, 2025 and December 31, 2025, the Company’s working capital surplus was $3,143,443 and $9,477,991, respectively. However, the Company had net cash outflows of $5,825,055 for the fiscal year ended June 30, 2025 and $1,123,900 from operating activities for the six-month period ended December 31, 2025. These conditions give rise to substantial doubt as to whether the Company will be able to continue as a going concern.
Previous wording
While we acknowledge that unforeseen circumstances or changes in market conditions could impact our liquidity, we remain committed to monitoring our financial health and will take necessary actions to secure additional financing if needed. In the event of unforeseen circumstances that disrupt the above-mentioned financial projection and strategies, the Company believes that our existing cash $2,656,519 as of September 30, 2025 will be sufficient to meet our research and development and operating expenditures for a minimum period of approximately twelve months from the date of this Report.
Current wording
While we acknowledge that unforeseen circumstances or changes in market conditions could impact our liquidity, we remain committed to monitoring our financial health and will take necessary actions to secure additional financing if needed. In the event of unforeseen circumstances that disrupt the above-mentioned financial projection and strategies, the Company believes that our existing cash $2,604,666 as of December 31, 2025 will be sufficient to meet our research and development and operating expenditures for a minimum period of approximately twelve months from the date of this Report.
Previous wording
As of September 30, 2025 and June 30, 2025, the Company’s working capital surplus was $2,799,181 and $3,143,443. Management has commenced a strategy to raise debt and equity, including financial supports from the Company’s related party and stockholders as well as third parties, which will enable that we have sufficient working capital for our requirements for at least the next two months from the date of this Report, in the absence of unforeseen circumstances, taking into account the cash and financial resources presently available to us.
Current wording
As of December 31, 2025 and June 30, 2025, the Company’s working capital surplus was $9,477,991 and $3,143,443. Management has commenced a strategy to raise debt and equity, including financial supports from the Company’s related party and stockholders as well as third parties, which will enable that we have sufficient working capital for our requirements for at least the next two months from the date of this Report, in the absence of unforeseen circumstances, taking into account the cash and financial resources presently available to us.
Previous wording
The following table summarizes our cash flows for the three-month periods ended September 30, 2025 and 2024:
Current wording
The following table summarizes our cash flows for the six-month periods ended December 31, 2025 and 2024:
Previous wording
For the three-month period ended September 30, 2025, our net cash used in operating activities was approximately $0.61 million, which primarily reflected our net loss of approximately $0.39 million, as primarily adjusted by the (i) non-cash depreciation and amortization of approximately $0.05 million negatively offset by (ii) decrease in accounts payable, accrual and other current liabilities of approximately $0.23 million and increase in prepaid expenses and other current assets of approximately $0.06 million.
Current wording
For the six-month period ended December 31, 2025, our net cash used in operating activities was approximately $1.1 million, which primarily reflected our net income of approximately $6.5 million, as primarily adjusted by the (i) non-cash gain from disposal of subsidiaries of approximately $7.3 million negatively offset by (ii) decrease in accounts payable, accrual and other current liabilities of approximately $1 million.
Previous wording
Our cash flows from financing activities primarily consists of proceeds from issuance of shares.
Current wording
Our cash flows from financing activities primarily consists of proceeds from issuance of shares and loans from the related parties.
Previous wording
For the three-month period ended September 30, 2025, our Company recorded net cash generated from financing activities of approximately $0.45 million, which was mainly attributable to loans from the related parties and repayments to related parties totalling of approximately $0.45 million.
Current wording
For the six-month period ended December 31, 2025, our Company recorded net cash generated from financing activities of approximately $0.8 million, which was mainly attributable to loans from the related parties and repayments to related parties totaling of approximately $0.8 million and net cash provided by financing activities from discontinued operations.
Previous wording
Cash consist of cash on hand, the Company’s demand deposit placed with financial institutions, which have original maturities of less than three months and unrestricted as to withdrawal and use. Deposits are held at highly liquid and well capitalized financial institutions. As of September 30, 2025, cash balances of $2,641,596 and $1,730 were maintained at financial institutions in Taiwan and the PRC, respectively. PRC and Taiwan laws and regulations impose certain restrictions on our ability to transfer cash between countries and between our subsidiaries. ash may be transferred within our organization in the following manners: (i) Advanced Biomed may transfer funds to our subsidiaries, including our Shanghai subsidiary, by way of capital contributions or loans, through intermediate holding subsidiaries or otherwise; (ii) we and our intermediate holding subsidiaries may provide loans to our operating subsidiaries and vice versa; and (iii) our subsidiaries, including our Shanghai subsidiary, may make dividends or other distributions to us through intermediate holding companies or otherwise. As of the date of this Report, Advanced Biomed made fourteen capital contributions to Advanced Biomed Taiwan and Advanced Biomed HK to support their research and development.
Current wording
Cash consist of bank deposit, the Company’s demand deposit placed with financial institutions, which have original maturities of less than three months and unrestricted as to withdrawal and use. Deposits are held at highly liquid and well capitalized financial institutions. As of December 31, 2025, cash balance of $2,592,413 was maintained at financial institutions in Taiwan. Taiwan laws and regulations impose certain restrictions on our ability to transfer cash between countries and between our subsidiaries. Cash may be transferred within our organization in the following manners: (i) Advanced Biomed may transfer funds to our subsidiaries, including our Taiwan subsidiary, by way of capital contributions or loans, through intermediate holding subsidiaries or otherwise; (ii) we and our intermediate holding subsidiaries may provide loans to our operating subsidiaries and vice versa; and (iii) our subsidiaries, including our Shanghai subsidiary, may make dividends or other distributions to us through intermediate holding companies or otherwise. As of the date of this Report, Advanced Biomed made fourteen capital contributions to Advanced Biomed Taiwan to support their research and development.
Previous wording
Long-lived assets, including equipment and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not be recoverable. We assess the recoverability of the assets based on the undiscounted future cash flows the assets are expected to generate and recognize an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified, we would reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when available and appropriate, to comparable market values. As of September 30, 2025 and June 30, 2025, except for the impairment loss on intangible assets recognized, no further impairment of long-lived assets was recognized.
Current wording
Long-lived assets, including equipment and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not be recoverable. We assess the recoverability of the assets based on the undiscounted future cash flows the assets are expected to generate and recognize an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified, we would reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when available and appropriate, to comparable market values.
Previous wording
Financial instruments that potentially subject the Company to credit risk consist of cash on hand, the Company’s demand deposit placed with financial institutions and other receivables. Bank and cash balances are maintained with high credit quality institutions, the composition and maturities of which are regularly monitored by management. As of September 30, 2025 and June 30, 2025, bank and cash balances of $2.7 million and $2.9 million, respectively were maintained at financial institutions in Taiwan and China, of which approximately $2.7 million and $2.9 million, respectively, was subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness. The maximum exposure to credit risk is the carrying amounts of cash and bank balances presented on the consolidated statements of financial position.
Current wording
Financial instruments that potentially subject the Company to credit risk consist of cash on hand, the Company’s demand deposit placed with financial institutions and other receivables. Bank and cash balances are maintained with high credit quality institutions, the composition and maturities of which are regularly monitored by management. As of December 31, 2025 and June 30, 2025, bank and cash balances of $2.6 million and $2.9 million, respectively were maintained at financial institutions in Taiwan, of which approximately $2.6 million and $2.9 million, respectively, was subject to credit risk. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness. The maximum exposure to credit risk is the carrying amounts of cash and bank balances presented on the consolidated statements of financial position.
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
For the six-months periods ended December 31, 2025 and 2024, our other income, net amounted to $0.2 million and other expense, net amounted to $0.07 million, respectively. The increase in other income, net by approximately $0.3 million for the six-month period ended December 31, 2025, is mainly attributable to the exchange gain resulted from revaluation of the foreign currency balances of approximately $0.2 million for the six-month period ended December 31, 2025 as compared with exchange loss of $0.07 million recorded for the six-month period ended December 31, 2024.
Rearranged previous paragraphs (4)
Previous report — wording carried elsewhere
The following table summarizes our cash flows for the fiscal years ended June 30, 2025 and 2024:
Previous report — wording carried elsewhere
The Company’s intangible assets are stated at cost less accumulated amortization and impairment, if any, and amortized on a straight-line basis over the estimated useful lives of the assets. The Company also re-evaluates the periods of depreciation to determine whether subsequent events and circumstances warrant revised estimates of useful lives.
Previous report — wording carried elsewhere
The carrying amount of a long-lived asset or asset group is considered impaired when the anticipated undiscounted cash flows from such asset or asset group is less than its carrying amount. In that event, a loss is recorded in “Impairment of long-lived assets” on our Consolidated Statements of Operations and Comprehensive Income (Loss) based on the amount by which the carrying amount exceeds the fair value of the long-lived asset or asset group. Fair value, using the income approach, is determined primarily using a discounted cash flow model that uses the estimated cash flows associated with the asset or asset group under review, discounted at a rate commensurate with the risk involved. Fair value, utilizing the cost approach, is determined based on the replacement cost of the asset reduced for, among other things, depreciation and obsolescence. Fair value, utilizing the market approach, benchmarks the fair value against the carrying amount. As of September 30, 2025 and June 30, 2025, the Company had no remaining carrying amount of finite-lived intangible related to purchased patents from the acquisition of Shanghai Sglcell Biotech Co., Ltd. as the assets were fully impaired in 2022.
Previous report — wording carried elsewhere
Once an impairment is determined, the actual impairment recognized is the difference between the carrying amount and the fair value as estimated using one of the following approaches: income, cost and/or market. Assets which are to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.