FMFC

Cambodia, April 17, 2026 (GLOBE NEWSWIRE) -- Kandal M Venture Limited (Nasdaq: FMFC) (“Kandal” or the “Company”), a contract manufacturer of affordable luxury leather goods with manufacturing operations in Cambodia, today announced general guidance for the full fiscal year ended March 31, 2026. Management stated that for fiscal 2026 ended March 31, both revenue and net Income are expected to increase versus the previous fiscal year. For that period, ended March 31, 2025, the Company had revenue of approximately $17.2 million and net income of about $210,000, or $.01 per share. For the first six months of fiscal 2026 ended September 30, 2025, Kandal generated revenue of approximately $7.9 million and net income of about $169,000, or $.01 per share. The Company added that its financial position is expected to remain strong through fiscal 2027, as Kandal currently has zero debt and adequate cash on its balance sheet. While U.S. tariffs have periodically presented a drag on the Company’s top and bottom-line performance over the past three quarters, Director and Chairman Duncan Miao said Kandal is executing, “a concrete plan to mitigate these effects and return the Company to its former growth and profitability.” The crux of this plan, said Mr. Miao, is diversifying Kandal’s customer base to increase its sales mix to markets with lower tariff impact. These markets include such nations as the U.K., Japan and other nations in Asia, the Middle East and Europe. Negotiations with several luxury brands in these markets, said Kandal’s CEO Fok Yui Kwong, are in “advanced stages” and have the potential to produce “significantly enhanced revenue” for fiscal 2026 and beyond. Both Cambodia and the Philippines, where Kandal manufactures and exports its goods, benefit from reduced or zero tariff rates when exporting to the UK under the Developing Countries Trading Scheme (DCTS). In addition, both countries receive highly preferential or zero import tariff rates from Japan based on bilateral and regional Economic Partnership Agreements (EPAs). To support its diversification strategy, Kandal expanded its manufacturing footprint to the Philippines last month. While this move does not reduce the Company’s overall tariff rate, it increases total production capacity, meets production-specific requirements of some of the Company’s customer brands, and minimizes or eliminates the risk...

TAKHMAO, Cambodia, March 23, 2026 (GLOBE NEWSWIRE) -- Kandal M Venture Limited (Nasdaq: FMFC) (“Kandal” or the “Company”), a contract manufacturer of affordable luxury leather goods with manufacturing operations in Cambodia, today announced its financial results for its first half of fiscal year 2026 ended September 30, 2025. Recent Developments Strategic Expansion into the Philippines On March 9, 2026, the Company announced a strategic investment to expand its manufacturing capabilities into the Philippines-its first major expansion outside Cambodia. Kandal entered into a definitive agreement to acquire 15% equity interest in Dumaine International Ltd for US$2.5 million in an all-cash transaction. This investment supports the Company’s long-term strategy to diversify geographically, broaden its customer base, and enhance operational resilience. Appointment of New Chief Executive Officer On February 3, 2026, the Company announced the appointment of Mr. Fok Yui Kwong as an Executive Director and Chief Executive Officer of the Company with effect from February 1, 2026. Mr. Fok brings more than 16 years of senior management experience as chief financial officer and executive director of a leading printed circuit board (PCB) manufacturing firm, along with 14 years of banking experience with major financial institutions in Hong Kong. Customer Orders for 2026 Season On November 28, 2025, the Company announced new orders for Trans 2026 season totaling approximately US$4.0 million, bringing total orders to date to approximately US$17.2 million. Despite continued tariff-related headwinds, customer demand remains in line with expectations. Kandal continues to focus on expanding its geographic footprint and strengthening its customer portfolio. Management Commentary “I was honored to join Kandal as Executive Director and Chief Executive Officer in February. Over the past several weeks, our team has been focused on executing our strategic plan to expand our geographic presence, strengthen our customer relationships, and enhance our production and design capabilities,” said Mr. Fok Yui Kwong, Executive Director and Chief Executive Officer. “Despite ongoing macroeconomic uncertainty and tariff pressures, we remain focused on executing on our strategic plan to expand geographically and grow our customer base. Over the last month, we have outlined our plan to expand our glo...

Cambodia, Nov. 28, 2025 (GLOBE NEWSWIRE) -- Kandal M Venture Limited (Nasdaq: FMFC) (“Kandal” or the “Company”), a contract manufacturer of affordable luxury leather goods with manufacturing operations in Cambodia, today announced an update on customer orders for the fiscal year ending March 31, 2026 (“Fiscal Year 2026”). As of today, the Company has received new orders for Trans 2026 season of approximately US$4.0 million, for total orders to date for Fiscal Year 2026 of approximately US$17.2 million. Customer orders for the year are meeting expectations in spite of the tariff headwinds in 2025. In the fashion industry, the Trans Season typically corresponds to the end of the Spring season and before the Fall season in the United States. Spring Season spans January through March, while Trans season spans April to July. The Company added that it hopes to build on its current success by expanding geographically and growing its customer base. “The orders our customers placed with us reflects the continued confidence they have in our capabilities and our commitment to quality,” said Mr. Duncan Miao, Director and Chairman of the Board of Kandal. Kandal’s current clientele includes several globally recognized fashion brands headquartered in the United States. About Kandal M Venture Limited Kandal M Venture Limited is a contract manufacturer of affordable luxury leather goods with its manufacturing operations in Cambodia. It primarily manufactures handbags, such as shoulder bags, crossbody bags, tote bags, backpacks, top-handle handbags, satchels, and other smaller leather goods, such as wallets. For more information, please visit the Company’s website at www.kandalmv.com. 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. The Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to read the risk factors contained in the Company’s final prospectus and other reports it files with the Securities and Exchange Commission before making any investment decisions reg...

TA KHMAU, Cambodia, Sept. 18, 2025 (GLOBE NEWSWIRE) -- Kandal M Venture Limited (Nasdaq: FMFC) (“Kandal” or the “Company”), a contract manufacturer of affordable luxury leather goods with manufacturing operations in Cambodia, today announced its customer orders so far for the fiscal year ending March 31, 2026. The Company reported that orders to date total approximately US$6,722,000. Customer orders for the Resort 2026 and Spring 2026 seasons are consistent with expectations. The fashion industry categorizes the Resort Season as the end of the year in the United States, and the Spring Season as January to March. The Company added that it hopes to increase orders as it continues to expand its operations. “We feel that the orders placed so far represent the resiliency of our business, despite the global economy as well as uncertainties surrounding tariffs earlier this year,” said Mr. Duncan Miao, the Director and Chairman of the Board of Kandal. “In addition to our current footprint, our Company plans to increase its geographic presence to expand its customer base.” The Company’s current customers include well-known global fashion brands headquartered in the United States. About Kandal M Venture Limited Kandal M Venture Limited is a contract manufacturer of affordable luxury leather goods with its manufacturing operations in Cambodia. It primarily manufactures handbags, such as shoulder bags, crossbody bags, tote bags, backpacks, top-handle handbags, satchels, and other smaller leather goods, such as wallets. For more information, please visit the Company’s website at www.kandalmv.com. 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. The Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to read the risk factors contained in the Company’s final prospectus and other reports it files with the Securities and Exchange Commission before making any investment decisions regarding the Company’s securities. The Company undertakes no obligation to update or re...

TA KHMAU, Cambodia, July 30, 2025 (GLOBE NEWSWIRE) -- Kandal M Venture Limited (Nasdaq: FMFC) (“Kandal” or the “Company”), a contract manufacturer of affordable luxury leather goods with manufacturing operations in Cambodia, today announced its financial results for its Full Year Fiscal Year Ended March 31, 2025. Recent developments: On June 26, 2025, the Company completed its initial public offering of 2,000,000 Class A ordinary shares at a public offering price of $4.00 per share. The Class A Ordinary Shares began trading on the Nasdaq Capital Market on June 25, 2025, under the symbol “FMFC.” On July 16, 2025, the Underwriter exercised its over-allotment option in full to purchase an additional 300,000 Class A ordinary shares at the public offering price of $4.00 per share, resulting in additional gross proceeds of $1.2 million, before deducting underwriting discounts and other related expenses. After giving effect to the full exercise of the over-allotment option, the total number of Class A ordinary shares sold by the Company in the Offering has increased to 2,300,000 Class A ordinary shares and the gross proceeds increased to $9.2 million, before deducting underwriting discounts and other related expenses. The over-allotment option closing date was July 16, 2025. Management Commentary “We are pleased that we completed our IPO on Nasdaq on June 25 of this year as our company enters a new phase of growth and increased global recognition,” said Mr. Duncan Miao, Director and Chairman of the Board of Kandal. “Looking ahead, we have exciting developments that we will announce as we expand our global presence and enhance our production, design and development capabilities.” Revenue For the years ended March 31, 2025 and 2024, revenue was generated primarily from handbags sales. Revenue increased by US$3,214,934 or approximately 23.0%, from US$13,971,743 for the year ended March 31, 2024 to US$17,186,677 for the year ended March 31, 2025. This increase reflects ongoing business growth and the sustained recovery of the global handbag market following the pandemic. Sales volumes rose across all existing customer accounts. Cost of sales Cost of sales primarily comprises raw material costs, direct labor costs and factory overheads. Cost of sales increased by US$3,224,831 or approximately 30.4%%, from US$10,604,640, for the year ended March 31, 2024 to US$13,829,471...