美国

证券 交易委员会

华盛顿， D.C. 20549

表单 6-K

根据规则13a-16或15d-16的外国私募发放者报告

1934年证券交易法

针对2024年12月。

委员会 文件号码： 001-41883

罗马 绿色金融有限公司

(登记人名称需与其章程中所示的完全一致)

开曼 群岛

(注册或组织的司法管辖区)

Flat 605, 6/F., 泰东大厦, 弗莱明路8号

湾仔, 香港

(主要执行办公室地址)

卢克 何韵玲 克莱尔首席执行官

电话： + 852 25296878

电子邮件： Claireluk@romagroup.com

单元 香港闪灵道8号大同大厦6楼605室

湾仔， 香港

(姓名, 电话，电子邮件和/或传真号码以及公司联系人地址)

请通过勾选方式指明注册人是否提交或将提交采用20-F或40-F表格的年度报告。20-F表格 ☒ 40-F表格

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备注: 规则S-t第101(b)(1)条仅允许以纸质形式提交Form 6-k，前提是该表格仅用于向证券持有人提供附带的年度报告。

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备注: 规则S-t第101(b)(7)条仅允许以纸质形式提交Form 6-k，前提是提交该表格是为了提供注册人作为外国私人发行人的法律要求必须提供并向公众披露的报告或其他文件， 该注册人所在辖区的法律或其证券在家乡交易所上市的规则所规定的（注册人的“母国”），只要该报告或其他文件不是新闻稿， 不要求发放且未分发给注册人的证券持有者，并且如果涉及重大事件，已在Form 6-k提交或其他委员会文件在EDGAR上提交过。

罗马 绿色金融有限公司

及 子公司

宣布 截至2024年9月30日的六个月未经审计的财务结果

警告 关于前瞻性声明和初步说明的注意事项

以下对我们财务控件和运营结果的讨论与分析应与截至2024年3月31日的审计合并基本报表及相关说明一起阅读，这些报告已于2024年8月1日提交给SEC的20-F表格中（“2024年8月20-F表格”）。除了历史财务信息外，以下讨论中还包含了反映我们当前计划、预期、估计和信念的前瞻性陈述。我们的实际结果可能与前瞻性陈述中讨论的结果有重大差异。导致或促成这些差异的因素包括下文和本中期报告的其他部分中讨论的因素。

在某些情况下，这些前瞻性陈述可以通过诸如“相信”、“计划”、“期待”、“打算”、“应该”、“寻求”、“估计”、“将会”、“目标”和“预期”或其他类似表达的词语或短语来识别，但这些并不是识别此类陈述的唯一方法。除历史事实陈述外，本文件中包含的所有陈述，包括关于未来财务状况和结果、业务策略、管理层未来运营的计划和目标（包括发展计划和分红派息）以及关于未来行业增长的陈述，均为前瞻性陈述。

这些 前瞻性声明受到风险、不确定性和假设的影响，其中一些超出了我们的控制范围。此外，这些 前瞻性声明反映了我们对未来事件的当前观点，并不保证未来的表现。实际 结果可能因多种因素而与前瞻性声明中所包含的信息有实质性不同，包括但不限于在2024年8月的20-F表格中列出的“风险因素”和以下内容：

本表格6-k中所作的前瞻性声明仅与声明日期的事件或信息相关。 除法律要求外，我们不承担任何义务，在声明发出后更新或公开修订前瞻性声明，无论是由于新信息、未来事件或其他原因，也不反映意外事件的发生。 您应全面阅读本表格6-k，并认识到我们实际的未来结果或表现可能与我们的预期存在重大差异。

在本中期报告中，术语“公司”、“罗马”、“我们”、“我们的”或“我们”仅指注册于开曼群岛法律下的有限责任公司罗马绿色金融有限公司。 我们的功能货币和报告货币为港元（我们称其为“HKD”或“HK$”）。术语“美元”、“美元指数”、“美金”或“$”指的是美国美元，作为美国的法定货币。本中期报告中将港元转换为美国美元的方便翻译，采用的汇率为HK$7.8=US$1.00。

所有 与截至2024年9月30日和2023年9月30日的六个月相关的金额（“ interim 基本报表”） 均来自我们截至2024年9月30日和2023年9月30日的未经审计的简明合并基本报表，详见 本中期报告的其他部分。这些 interim 基本报表是根据美国一般公认会计原则（US GAAP）编制的。

管理层的 财务状况和经营成果的讨论与分析

概述

罗马绿色金融有限公司是一家根据开曼群岛法律注册的豁免公司。作为一家没有实质性直接业务的控股公司，我们通过在香港和新加坡的运营子公司，作为环保、社会和治理（ESG）、可持续性及气候变化相关咨询服务的专业专家开展业务。我们成立于2018年，并开始提供核心的可持续发展项目开发和ESG报告服务，使企业能够展示其遵守适用规则和法规的情况。我们受到帮助企业提升ESG表现的热情驱动，认为这是业务可持续性的推动因素。我们旨在与客户一起走过可持续性之旅，在旅程的每一个阶段为他们提供全面的压力位支持，从可持续发展项目开发到ESG报告、气候变化战略和解决方案、环保审计，以及其他许多服务。

我们 与客户密切合作，帮助他们理解、识别、管理并克服因与ESG、可持续性和气候变化相关的各种业务问题。我们提供量身定制的可持续解决方案，以满足企业的具体 需求。

我们 从每个提供服务的客户那里收取顾问费用。我们的营业收入具有韧性，因为我们为来自多个行业的170多位客户提供服务。

截至2024年和2023年3月31日，我们的净营业收入分别为港币990万元和港币1360万元，与去年相比减少了约27.4%。

截至2024年9月30日和2023年9月30日的六个月期间，我们的净营业收入分别为320万港元和510万港元，较可比期间下降了约37.6%。

经营结果

截至2024年9月30日的六个月与截至2023年9月30日的六个月

营业收入

如以下表所示，在截至2024年9月30日和2023年9月30日的六个月内，我们的营业收入来源于提供ESG、可持续发展和气候变化相关的咨询服务：

我们的 总营业收入在截至2024年9月30日的六个月内减少了约191万港币，减少幅度为37.6％，降至约317万港币，而截至2023年9月30日的六个月内为约508万港币。这一下降主要是由于重复客户减少了约220万港币，但新客户增加约20万港币进行了部分抵消。我们的ESG合规和可持续性相关咨询服务合同通常在下半年完成，并在服务完成时确认营业收入，因此截至2024年9月30日，合同负债显著增加。

截至2024年和2023年9月30日的六个月期间，营业收入来自位于香港和新加坡的客户。

营业收入 按地区划分

截至2024年和2023年9月30日的六个月期间，我们的ESG、可持续发展和气候变化相关咨询服务的客户主要位于香港。以下表格显示了截至2024年和2023年9月30日的我们营业收入按客户地理位置的细分：

截至2024年9月30日的六个月期间，来自新加坡的营业收入有所增加。集团已投入更多资源以扩大新加坡市场，以增加现有的市场份额，包括招聘更多经验丰富和专业的员工，并为我们在新加坡办公室的员工提供相关培训，使他们能够获得新客户并推动增长。 而由于与合规和可持续性相关的顾问服务合同通常在年份的下半年完成，因此来自香港的营业收入有所减少。这些收入将在服务完成时确认，因此截至2024年9月30日，合同负债显著增加。

收入成本

截至2024年9月30日和2023年9月30日的六个月期间，我集团的收入成本主要由直接人工成本构成。截止2024年9月30日和2023年9月30日的六个月期间，我们的收入成本分别约为300万港元和350万港元。

公司在截至2024年9月30日和2023年6个月期间，为项目支付和发生咨询费用，金额为HK$2.3万和HK$70万。

毛利润和毛利润率

我们的 截至2024年9月30日和2023年9月30日的六个月，总毛利约为20万港元和150万港元， 分别地。截至2024年9月30日的六个月中，我们的总毛利率约为5.7％和30.3％， 分别是 2023 年。在截至2024年9月30日的六个月中，由于毛利下降，我们的总毛利有所下降 截至2024年9月30日的六个月中，部分客户在ESG合规和可持续发展方面的收入 相关的咨询服务合同预计将在2025财政年度的下半年完成，而且将 在服务完成后被确认为收入，因此截至9月，合同负债大幅增加 2024 年 30 日。自收入成本影响以来，截至2024年9月30日的六个月中，我们的毛利率大幅下降 主要是工作人员的工资和其他相关费用，相对固定，因此收入的减少导致 毛利率下降。

销售 和市场费

截至2024年9月30日和2023年9月30日的六个月，我们的销售和市场费用分别约为950万港元和30万港元。

截至2024年9月30日的六个月，销售和营销费用增加约为920万港元，相比于截至2023年9月30日的六个月的相应期间，主要是由于为了加强客户关系和探索机会以多样化产品或服务提供而增加了与业务发展相关的营销服务。

一般 和管理费用

下表列出了截至2024年9月30日和2023年9月30日的六个月内我们的管理费用的详细情况：

我们的 一般及行政开支在截至2024年9月30日和2023年9月30日的六个月中分别约为800万港元和300万港元。

专业 费用主要包括审计费用、预期信用损失评估的估值和发生的证券交易委员会（SEC）备案费用。

管理费用 费用代表与第三方服务提供商提供的行政服务支持相关的管理费用充电。   截至2024年9月30日和2023年9月30日，公司支付和发生的管理费用大约为160万港元和160万港元。

许可证费代表了在香港使用三个商标与商号“Roma”相关的许可成本。

保险 主要指公司董事和高管支付的保险费。

员工薪酬代表独立非执行董事和行政工作人员的报酬。增加主要是由于在上市时新招聘的独立非执行董事，以及行政工作人员的薪酬在截至2024年9月30日的六个月内被记录在行政费用中，而在截至2023年9月30日的六个月内则记录在营业收入成本中。

其他 费用主要包括办公用品、预期信贷损失准备金和其他杂项费用

其他收入（费用），净额

下表列出了截至2024年9月30日和2023年9月30日的六个月内我们其他收入（费用）的细分情况：

截至2024年9月30日的六个月，我们的其他收入约为港币2.1万，而截至2023年9月30日的六个月，其他支出约为港币1.9万。

截至2024年9月30日的六个月，其他收入增加了大约4万港元或211%，与截至2023年9月30日的相应六个月相比，主要是由于应收票据的利息收入增加，部分被由于项目终止而退还的80万港元政府补助抵消。

收入 税务费用

截至2024年9月30日的六个月期间，来自新加坡业务的所得税费用为10万港元。在当地税收制度下，公司在2024年9月30日产生了60万港元的应税收入，经过税务调整。

在截至2023年9月30日的六个月期间，未计入所得税费用。根据当地税制，该公司截至2023年9月30日没有产生应评估的收入，经过税务调整后。

净 损失

因此，我们截至2024年9月30日和2023年的六个月净亏损分别约为港币1740万和180万。

流动性 及资本资源

我们的 流动性和营运资金需求主要与我们的营业费用有关。我们预计将通过多种来源为我们的营运资金和其他 流动性需求提供资金，包括但不限于我们运营产生的现金、银行信贷的贷款、下文提到的发行的净收益以及其他股权和债务融资，适时进行。

在2022年10月24日，公司以每股2美元的价格向Next Master发行了38,622股普通股，现金对价为77,244美元。同时，公司还向Next Master额外发行了45,000股普通股，以清偿其90,000美元的债务，价格为每股2美元。

在2023年7月26日，公司以每股1,203美元的价格向Top Elect Group Limited（关联方）发行了1,202,981股普通股，并于2024年3月27日结算。同时，公司还分别向Next Master和Trade Expert Holdings Limited发行了61,038股和65,206股普通股，现金对价为65美元和61美元。

在2024年1月11日，公司完成了2,449,943股普通股的发行，公众价格为每股4.00美元。该次发行的净收益总额为美国$8,680,594美元，扣除承销折扣、佣金及与发行相关的费用。 

在 2024年2月，公司与蓝峰有限公司、吉普西交易有限公司、下一个大师投资有限公司和交易专家控股有限公司签订了咨询服务协议，服务期为一年，结算方式为现金或公司普通股。2024年4月，这些顾问与公司达成一致，同意以股票结算咨询服务费用。2024年5月10日，公司向这些顾问全部发行了1,539,281股普通股，价格为每股0.757美元。

该公司以最佳努力自承销的方式，提供高达3,600,000股每股面值为0.001美元的普通股，直接向选定投资者以每股固定发行价格0.351美元进行后续公开发行，总共募集资金1,263,600美元。公开发行的收益在2024年9月23日至2024年9月25日间收到，3,600,000股普通股随后于2024年10月11日分配给投资者。

现金流

以下表格总结了截至2024年9月30日和2023年9月30日的现金流量：

现金 来自营业活动的流入

截至2024年9月30日的六个月期间，我们在经营活动中使用的净现金约为HK$690万，主要包括我们的净亏损HK$1740万，加上(i)大约HK$0.01百万的非现金财产和设备折旧、预计信用损失准备金约HK$20万和为营销咨询服务支付的股票支付HK$470万，(ii)应收账款增加约HK$3.29万，(iii)应付给董事的金额减少约HK$130万，(iv)其他应收款增加约HK$6.22万，(v)应计费用和其他应付款减少约HK$250万，部分抵消了(a)合同负债增加约HK$560万，(b)预付款减少约HK$360万和应付税款增加HK$10万。

截至2023年9月30日的六个月，我们用于经营活动的净现金约为港币6万，主要包括我们净亏损港币180万，加回(i)非现金折旧的物业和设备约港币0.02百万和预计信用损失准备金约港币4万，(ii)应收账款减少约港币150万，(iii)应付款项增加约港币110万，(iv)存入资金、预付款项和其他应收款减少约港币60万，(v)应付相关方金额减少港币190万，并部分抵消了(a)应计和其他应付款减少约港币260万，(b)应付账款减少约港币7万，(c)合同负债减少约港币80万。

现金 投资活动产生的现金流

截至2024年9月30日的六个月，我们在投资活动中使用的净现金约为港币1710万元，用于发行 应收票据。

截至2023年9月30日的六个月内，投资活动没有产生现金流。

现金 来自融资活动的现金流

截至2024年9月30日的六个月内，我们从融资活动中产生的净现金约为930万港元，总毛收益为1,263,000美元（约980万港元），来自以0.351美元的发行价格出售3,600,000股公司的普通股，基于自筹资金的后续公开发行，并抵消大约50万港元的递延发行费用。

截至2023年9月30日的六个月内，我们在融资活动中使用的净现金约为30万港元，用于支付延期费用，并通过发行新股的收益抵消了0.1万港元。

应收账款，净额

我们的 应收账款净额从2024年3月31日的约150万港元减少到2024年9月30日的约130万港元。减少主要归因于（i）应收账款的结算和（ii）2024年9月30日结束的六个月期间营业收入的减少。

我们没有对这些应收账款余额收取任何利息，也没有持有任何作为安防-半导体的担保物。我们没有遇到，也不预期会遇到，从这些较长期发票中收款的问题。

以下表格列出了我们应收账款（净额）的账龄分析，基于以下提到的日期的发票日期：

应收账款减值准备的变动如下：

账户 余额在没有实际回收可能性的情况下被注销，这通常是在所有催收手段耗尽且双方无法达成替代付款安排后。

我们 有一项政策，根据对应收账款的可收回性评估和账龄分析来确定减值准备，并基于管理层的判断，包括信用质量的变化、每个客户的过去收款历史和当前 市场控件。

应收账款的减值准备与适用简化方法的应收账款总准备相关，用于预计信用损失（“ECL”）。信用风险等级根据定性和定量因素来定义，这些因素可以表明违约风险。ECL率是基于我们客户所在行业的历史损失率和应收账款的账龄计算得出的。

During the six months ended September 30, 2024 and 2023, other than the loss allowance provision discussed above, no impairment loss was provided for amounts that were past due.

Accounts payable

Accounts payable represents amount due from a vendor for services provided in prior periods.

Material Cash Requirements

Our cash requirements consist primarily of day-to-day operating expenses and capital expenditures which we expect to fund from cash generated from operations. We have limited credit available for our cost of revenue and were required to prepay for the major vendors to our marketing advisory service and other related service for expansion of our business.

We believe that we have sufficient working capital for our requirements for at least the next 12 months from the date of this interim report, absent unforeseen circumstances, taking into account the financial resources presently available to us, including cash and cash equivalents on hand, cash flows from our operations and the IPO proceeds as well as the follow-on proceeds from the offering of the Company’s equity securities over the period from September 23, 2024 to September 25, 2024.

Capital commitments

The Company offered in a best efforts self-underwritten follow-on public offering of up to 3,600,000 of the Company’s ordinary shares of US$0.001 par value per share directly to selected investors at a fixed offering price of US$0.351 per ordinary share for total gross proceeds of US$1,263,600. The proceeds of the public offering were received over the period from September 23, 2024 to September 25, 2024, and 3,600,000 ordinary shares were subsequently issued to investors on October 11, 2024.

As of September 30, 2024, saved for above, we did not have any capital commitments.

Off-Balance Sheet Transactions

As of September 30, 2024, we have not entered into any material off-balance sheet transactions or arrangements.

We have not entered into any financial guarantees or other commitments to guarantee the payment obligations of any third parties. In addition, we have not entered into any derivative contracts that are indexed to our own shares and classified as shareholders’ equity, or that are not reflected in our consolidated financial statements. Furthermore, we do not have any retained or contingent interest in assets transferred to an unconsolidated entity that serves as credit, liquidity or market risk support to such entity. Moreover, we do not have any variable interest in an unconsolidated entity that provides financing, liquidity, market risk or credit support to us or engages in leasing, hedging or research and development services with us.

Critical Accounting Policies and Estimates

Our financial statements and accompanying notes have been prepared in accordance with U.S. GAAP. The preparation of these financial statements and accompanying notes requires us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. We base our estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis of making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. We have identified certain accounting policies that are significant to the preparation of our financial statements. These accounting policies are important for an understanding of our financial condition and results of operation. Critical accounting policies are those that are most important to the portrayal of our financial conditions and results of operations and require management’s difficult, subjective, or complex judgment, often as a result of the need to make estimates about the effect of matters that are inherently uncertain and may change in subsequent periods. Certain accounting estimates are particularly sensitive because of their significance to financial statements and because of the possibility that future events affecting the estimate may differ significantly from management’s current judgments. While our significant accounting policies are more fully described in Note 2 to the unaudited condensed consolidated financial statements included elsewhere in this interim report, we believe the following critical accounting policies involve the most significant estimates and judgments used in the preparation of our financial statements.

We are an “emerging growth company” as defined under the federal securities laws and, as such, will be subject to reduced public company reporting requirements. Section 107 of the JOBS Act provides that an “emerging growth company” can take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act, for complying with new or revised accounting standards. We have elected to take advantage of the extended transition period for complying with new or revised accounting standards and acknowledge such election is irrevocable pursuant to Section 107 of the JOBS Act. As a result of our election, our financial statements may not be comparable to those of companies that comply with public company effective dates.

The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the periods presented. Significant accounting estimates in the period include the allowance for expected credit losses on accounts and other receivables, assumptions used in assessing the impairment of long-lived assets, and deferred tax valuation allowance.

The unaudited condensed consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant inter-company balances and transactions within the Company have been eliminated upon consolidation.

The Company uses Hong Kong Dollars (“HKD”) as its reporting currency. The functional currency of Roma Risk Advisory Limited is Hong Kong Dollar and its subsidiary in Singapore is Singapore dollar, based on the criteria of ASC 830, Foreign Currency Matters.

Monetary assets and liabilities denominated in currencies other than the applicable functional currencies are translated into the functional currencies at the prevailing rates of exchange at the balance sheet date. Nonmonetary assets and liabilities are remeasured into the applicable functional currencies at historical exchange rates.

In the unaudited condensed consolidated financial statements, the financial information of the Company and other entities located outside of Hong Kong has been translated into HKD. Assets and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at historical exchange rates, and revenues, expenses, gains and losses are translated using the average rate for the period.

Translation of amounts from SGD into HKD has been made at the following exchange rates for the six months ended September 30, 2023 and 2024:

Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. Translation gains and losses that arise from exchange rate fluctuations from transactions denominated in a currency other than the functional currency are translated, as the case may be, at the rate on the date of the transaction and included in the results of operations as incurred.

Translations of balances in the unaudited condensed consolidated balance sheets, unaudited condensed consolidated statements of income and consolidated statements of cash flows from HKD into USD as of and for the six months ended September 30, 2024 are solely for the convenience of the reader and were calculated at the rate of HKD7.80 to USD1. No representation is made that the HKD amounts represent or could have been, or could be, converted, realized or settled into USD at that rate, or at any other rate.

Accounts receivable include trade accounts due from customers in the rendering of service.

Accounts receivable are recorded at the invoiced amount and do not bear interest, which are due upon invoice was presented. The Company seeks to maintain strict control over its outstanding receivables to minimize credit risk. Overdue balances are reviewed regularly by senior management. Management reviews its receivables on a regular basis to determine if the bad debt allowance is adequate and provides allowance when necessary. The allowance is based on management’s best estimates of specific losses on individual customer exposures, as well as the historical trends of collections. Account balances are charged off against the allowance after all means of collection have been exhausted and the likelihood of collection is not probable. The Company’s management continues to evaluate the reasonableness of the valuation allowance policy and update it if necessary.

The Company does not hold any collateral or other credit enhancements over its accounts receivable balances.

The Company adopted Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASC 606”), which provided the following overview of how revenue is recognized from the Company’s contracts with customers: The Company recognizes revenue to depict the transfer of promised services to customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those services.

Step 1: Identify the contract(s) with a customer.

Step 2: Identify the performance obligations in the contract.

Step 3: Determine the transaction price – The transaction price is the amount of consideration in a contract to which an entity expects to be entitled in exchange for transferring promised services to a customer.

Step 4: Allocate the transaction price to the performance obligations in the contract – Any entity typically allocates the transaction price to each performance obligation on the basis of the relative standalone selling prices of each distinct service promised in the contract.

Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation – An entity recognizes revenue when (or as) it satisfies a performance obligation by transferring a promised service to a customer (which is when the customer obtains control of that service). The amount of revenue recognized is the amount allocated to the satisfied performance obligation. A performance obligation may be satisfied at a point in time or over time.

Majority of the Company’s income is derived from contracts with customers in the rendering of ESG compliance and sustainability related advisory service, and as such, the revenue recognized depicts the transfer of promised services to its customers in an amount that reflects the consideration to which the Company expects to be entitled in exchange for those services. The Company considers the terms of the contract and all relevant facts and circumstances when applying this guidance. The contract is typically fixed-priced and the duration of the service period is short, usually less than one year.

The Company’s revenue from ESG compliance and sustainability related advisory service contracts is generally recognized at a point in time when the ESG compliance and sustainability related advisory services are completed. Invoices billed to the customers become payable upon issuance. The Company records receivable related to revenue when it has an unconditional right to invoice and receive payment.

Under the contract, the Company generally requires the customers to make an advance payment at certain percentage of the total contract value upon signing the agreement. Contract liabilities are recorded when the advance payment is received from the customers before all of the relevant criteria for revenue recognition has been met. The related revenue will be recognized when the underlying services are completed and rendered to the customers.

In accordance with the provisions of ASC Topic 360. impairment or Disposal of Long-Lived Assets, all long-lived assets such as property and equipment owned and held by the Company are reviewed for impairment whenever evens or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is evaluated by comparison of the carrying amount of an asset to its estimated future undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amounts of the assets exceed the fair value of the assets. No impairment losses were recognized for the six months ended September 30, 2024 and 2023.

In accordance with ASC Topic 326 Credit Losses- Measurement of Credit Losses on Financial Instruments (ASC 326), the Company utilizes the current expected credit losses (“CECL”) model to determine an allowance that reflects its best estimate of the lifetime expected credit losses on accounts receivable ad deposit. prepayments, and others receivable which is recorded as a liability to offset the receivables. The CECL model is prepared after considering historical experience, current conditions, and reasonable and supportable economic forecasts to estimate lifetime expected credit losses. Accounts receivable and deposit, prepayments are written off when deemed uncollectible, Recoveries of receivable previously written off are recorded as a reduction of bad debt expense. The allowance for expected credit losses amounted to HK$43,932 (US$5,632) and HK$221,652 (US$28,417) for the six months ended September 30, 2023 and 2024 respectively.

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due. The Company’s policy is to ensure that it has sufficient cash to meet its liabilities when they become due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation. A key risk in managing liquidity is the degree of uncertainty in the cash flow projections. If future cash flows are fairly uncertain, the liquidity risk increases.

Recent Accounting Pronouncements

From time to time, new accounting pronouncements are issued by the Financial Accounting Standard Board (“FASB”) or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption.

In June 2022, the FASB issued ASU 2022-03, Fair value measurement (Topic 820) Measurement of Equity Securities subject to Contractual Sale Restrictions, which is intended to clarify that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The disclosures requirements included in ASU 2022-03 are required to disclose (i) the fair value of equity securities, (ii) the nature and duration of the restrictions and (iii) the circumstance could cause a lapse in the restrictions for equity securities subject to contractual sale restrictions. ASU 2022-03 is effective for annual periods beginning after December 15, 2024, on a retrospective basis, and early adoption is permitted. The Company is currently evaluating the potential impact of ASU 2022-03 on its consolidated financial statements.

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The disclosures requirements included in ASU 2023-07 are required for all public entities, including those with a single reportable segment. ASU 2023-07 is effective for annual periods beginning after December 15, 2024, on a retrospective basis, and early adoption is permitted. The Company is currently evaluating the potential impact of ASU 2023-07 on its consolidated financial statements.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 720): Improvements to Income Tax Disclosures (“ASU 2023-09”), which prescribes standard categories for the components of the effective tax rate reconciliation and requires disclosure of additional information for reconciling items meeting certain quantitative thresholds, requires disclosure of disaggregated income taxes paid, and modifies certain other income tax-related disclosures. ASU 2023-09 is effective for annual periods beginning after December 15, 2024 and allows for adoption on a prospective basis, with a retrospective option. The Company is currently evaluating the potential impact of the adoption of ASU 2023-09 on its consolidated financial statements.

In March 2024, the FASB issued ASU No. 2024-02, Codification Improvements-Amendments to Remove References to the Concepts Statements (“ASU 2024-02”). The amendments in this Update affect a variety of Topics in the Codification. The amendments apply to all reporting entities within the scope of the affected accounting guidance. This update contains amendments to the Codification that remove references to various Concepts Statements. In most instances, the references are extraneous and not required to understand or apply the guidance. In other instances, the references were used in prior statements to provide guidance in certain topical areas. ASU 2024-02 is effective for public business entities for fiscal years beginning after December 15, 2024. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2025. Early adoption is permitted for both interim and annual financial statements that have not yet been issued or made available for issuance. The Company is currently evaluating the potential impact of the adoption of ASU 2024-02 on its consolidated financial statements.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires additional disclosure about specific expense categories included in the income statement. Annual disclosure requirements will be effective for the fourth quarter of 2027, and quarterly disclosure requirements will be effective in the first quarter of 2028, with early adoption permitted. The Company is currently evaluating the impact of this ASU on the disclosures.

Except as mentioned above, the Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s consolidated balance sheets, statements of income and comprehensive income and statements of cash flows.

Impact of Inflation

In accordance with the Monetary Authority of Singapore, the year-over-year percentage changes in the consumer price index for 2024, 2023 and 2022 were 2.7, 1.7% and 2.3%, respectively.

In accordance with Census and Statistics Department of Hong Kong, the year-over-year percentage changes in the consumer price index for 2024, 2023 and 2022 were 1.8%, 2.1% and 1.9%, respectively.

The rate of inflation is expected to increase. We do not believe that inflation has had a material effect on our business, financial condition or results of operations. We continue to monitor the impact of inflation in order to minimize its effects through pricing strategies, productivity improvements and cost reductions. If our costs were to become subject to significant inflationary pressures, we may not be able to fully offset such higher costs through price increases. Our inability or failure to do so could harm our business, financial condition and results of operations.

Quantitative and Qualitative Disclosures about Market Risk

Credit Risk

Credit risk is controlled by the application of credit approvals, limits and monitoring procedures. We manage credit risk through in-house research and analysis of the relevant economy and the underlying obligors and transaction structures. We identify credit risk collectively based on industry, geography and client type. In measuring the credit risk of our sales to our clients, we mainly reflect the “probability of default” by the client on its contractual obligations and consider the current financial position of the client and the current and likely future exposures to the client.

Liquidity Risk

We are also exposed to liquidity risk, which is risk that we will be unable to provide sufficient capital resources and liquidity to meet our commitments and business needs. Liquidity risk is controlled by the application of financial position analysis and monitoring procedures. Going forward post initial offering, when necessary, we will turn to financial institutions and related parties to obtain short-term funding to cover any liquidity shortage.

Foreign Exchange Risk

Our reporting currency is the Hong Kong Dollars (“HKD”), and almost all of our consolidated revenues and consolidated costs and expenses are denominated in Hong Kong Dollars (“HKD”). Our assets are denominated primarily in HKD. The functional currency of our Singapore subsidiary is the Singapore Dollar (“SGD”). As a result, we are exposed to foreign exchange risk as our revenues and results of operations may be affected by fluctuations in the exchange rate between the SGD and HKD. If the SGD depreciates against the HKD, the value of our SGD revenues, earnings and assets as expressed in our HKD financial statements will decline. We have not entered into any hedging transactions in an effort to reduce our exposure to foreign exchange risk.

ROMA GREEN FINANCE LIMITED

Unaudited Condensed Consolidated Interim Financial Statements

For the Six Months ended September 30, 2024 and 2023

ROMA GREEN FINANCE LIMITED AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

See accompanying notes to unaudited condensed consolidated financial statements.

ROMA GREEN FINANCE LIMITED AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

AND COMPREHENSIVE LOSS

See accompanying notes to unaudited condensed consolidated financial statements.

ROMA GREEN FINANCE LIMITED AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ (DEFICIT) EQUITY

See accompanying notes to unaudited condensed consolidated financial statements.

ROMA GREEN FINANCE LIMITED AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 

See accompanying notes to unaudited condensed consolidated financial statements.

ROMA GREEN FINANCE LIMITED AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2023 AND 2024