Park Ha Biological Technology (BYAH) Registration Filing summary

Company overview and business model

• Operates a private skincare label focused on problematic skin, with direct sales and franchise alliances in China.

• As of April 30, 2025, has 3 directly operated stores and 39 franchisees across multiple provinces.

• Revenue streams include product sales and franchise fees, with franchise fees comprising a majority.

• Utilizes an online-to-offline (O2O) model, leveraging digital marketing and in-store experiences.

• R&D center focuses on skincare for sensitive skin, with a strong emphasis on training and supply chain management.

Financial performance and metrics

• Total revenue for the six months ended April 30, 2025, was $1,239,197, up from $852,928 in the prior year period.

• For the fiscal year ended October 31, 2024, revenue was $2,381,851, down from $2,459,102 in 2023.

• Net loss of $19,835,994 for the six months ended April 30, 2025, compared to net income of $48,900 in the prior year period.

• Net income for the year ended October 31, 2024, was $478,561, down from $852,042 in 2023.

• As of April 30, 2025, net tangible book value per share was $0.14; post-offering, dilution to new investors is $0.18 per share.

Use of proceeds and capital allocation

• Estimated net proceeds of $3.5 million, assuming full sale, after deducting placement agent commissions and expenses.

• Proceeds intended for expansion of directly operated stores.

• Management retains flexibility to reallocate proceeds as business conditions change.