Lucide Ledger

A filing-first public record from Lucide House.

Issue 004 | U.S. Pilot | US

RITR

Reitar Logtech Holdings Ltd

Screen state: Needs Review Source state: Stale Filing 20-F | 2025-08-15 Filing currency: HKD
Open Filing Back to Register Report a correction
Internal NCAV Discount 73.0%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets
278,865,899HKD
Total Liabilities
176,434,734HKD
NCAV
13,060,535HKD
Cash
20,396,353HKD
NCAV per share
1.64HKD/share
Evidence
2 annual | 0 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Evaluated
12
Triggered
4
Unavailable
3
Requires inspection Material 1Y Share Increase 62,443,750
Latest
62,443,7502025-03-31
Comparison
60,000,0002024-03-31
Change
+4.1%

Basis: 1Y share change >= +2% using the same share-count source

Source periods: SEC 20-F 2025-03-31 · 0001213900-25-077592; REPORTED_FILING 20-F 2024-03-31

Requires inspection Negative OCF -62,354,617
Latest
-62,354,6172025-03-31
Comparison
n/a
Change
n/a

Basis: latest reporting-period cash from operations < 0

Source periods: SEC 20-F 2025-03-31 · 0001213900-25-077592

Supporting observation NCAV Growing 102,431,165
Latest
102,431,1652025-03-31
Comparison
42,682,9672024-03-31
Change
+140.0%

Basis: equivalent prior-year NCAV change >= +2%; both NCAV values must be positive

Source periods: SEC 20-F 2025-03-31 · 0001213900-25-077592; REPORTED_FILING 20-F 2024-03-31

Supporting observation Current Ratio > 1.5 1.58
Latest
1.582025-03-31
Comparison
1.5
Change
n/a

Basis: current assets / current liabilities; strong if > 1.5

Source periods: SEC 20-F 2025-03-31 · 0001213900-25-077592

3 unavailable checks — inspect missing inputs
High Debt (short-term debt + long-term debt) / ordinary equity >= 50%
Low Debt (short-term debt + long-term debt) / ordinary equity < 20%
Non-Positive Equity ordinary shareholders equity <= 0

Business Profile

Published only when a substantive filing-text profile has been prepared for this issue.

Not available for this issue.

A substantive filing-text profile was not prepared for this company. Financial statement evidence and filing links remain available above for direct inspection.

Share Count & Per-Share Comparability

Data Vault has not published the normalized share-count artifact for this company.

Known Unknowns

Only 0 quarterly periods available from Data Vault for this company.

quarterly periods are missing

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Medium | Filing

Some rows are based on older filing data and require manual freshness review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric
2025-03-31
20-F
HKD
2024-03-31
20-F
HKD
Revenue 378,169,751 251,979,875
Operating Income 9,769,564 28,185,112
Net Income 7,869,531 19,759,446
Cash From Operations -62,354,617 -18,736,428
Capex -3,915,836 -517,697
Free Cash Flow -66,270,453 -19,254,125
Cash And Equivalents 20,396,353 6,390,861
Accounts Receivable n/a 332,567
Inventory n/a n/a
Total Current Assets 278,865,899 187,448,122
Total Assets 333,819,187 242,824,451
Total Current Liabilities 176,434,734 142,400,331
Total Liabilities 176,434,734 144,765,155
Shareholders Equity 163,046,780 98,292,632
Shares Outstanding 62,443,750 60,000,000
Shares Outstanding Diluted n/a n/a
Weighted Avg Shares Diluted 61,462,175 60,000,000
Weighted Avg Shares Basic 61,462,175 60,000,000
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence
Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Only 0 quarterly periods available from Data Vault for this company.

Metric
Revenue
Operating Income
Net Income
Cash From Operations
Capex
Free Cash Flow
Cash And Equivalents
Total Current Assets
Total Liabilities
Shares Outstanding
Shares Outstanding Diluted
Weighted Avg Shares Diluted
Weighted Avg Shares Basic
Net Share Count Change (Normalized)
Ownership Claim Change (Normalized)
Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input Value Source concept Filing period Confidence Provenance
Current Assets 278,865,899HKD us-gaap:AssetsCurrent 2025-03-31 1.00 Data Vault | sec/companyfacts/cik=0001951229/companyfacts.json
Data Vault | sec/companyfacts/cik=0001951229/companyfacts.json
Total Liabilities 176,434,734HKD us-gaap:Liabilities 2025-03-31 1.00 Data Vault | sec/companyfacts/cik=0001951229/companyfacts.json
Data Vault | sec/companyfacts/cik=0001951229/companyfacts.json
Cash 20,396,353HKD us-gaap:CashAndCashEquivalentsAtCarryingValue 2025-03-31 1.00 Data Vault | sec/companyfacts/cik=0001951229/companyfacts.json
Data Vault | sec/companyfacts/cik=0001951229/companyfacts.json
Shares Outstanding 62,443,750 us-gaap:CommonStockSharesOutstanding 2025-03-31 1.00 Data Vault | sec/companyfacts/cik=0001951229/companyfacts.json
Data Vault | sec/companyfacts/cik=0001951229/companyfacts.json
NCAV 102,431,165HKD derived 2025-03-31 n/a company-evidence-v1 | total_current_assets - total_liabilities
NCAV per share 1.64HKD derived 2025-03-31 n/a company-evidence-v1 | NCAV / shares_outstanding
Internal NCAV Discount 73.0% derived 2025-03-31 n/a gnni_publication_pack | internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / shares_outstanding

Source Provenance

Data Source
Data Vault
Data Vault Root
Local evidence | The Data Vault
CIK
0001951229
Company ID
n/a
Selected Annual Source
Data Vault | sec/companyfacts/cik=0001951229/companyfacts.json
Selected Quarterly Source
Data Vault | sec/companyfacts/cik=0001951229/companyfacts.json
Statement Extractor
companyfacts-screener-v1
View Extractor
companyfacts-screener-v1
Source Accession Count
2
Imported At
2026-08-15T12:52:43+00:00
Rendered At
2026-08-16T03:29:54+00:00

Run Audit

Mary Run
29510e1968ca4fb386d55ebe1e97a5de
Mary As Of
2026-08-01
Accession
0001213900-25-077592
CIK
0001951229
Mary Filing Date
2025-08-15
Filing Currency
HKD
Internal Discount
73.0%
Source State
Stale Filing
Market Context
Not Displayed
Market Policy
internal_only_not_redistributed
Share Trend
Not Evaluated
Dilution
Needs Review

mary_run=29510e1968ca4fb386d55ebe1e97a5de; mary_as_of=2026-08-01; mary_filing_date=2025-08-15; mary_accession=0001213900-25-077592; mary_cik=0001951229; gnni_supporting_filing_date=2025-08-15; internal_discount=0.729868; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.; source requires review

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