美國

證券 交易委員會

華盛頓， D.C. 20549

表單 6-K

根據規則13a-16或15d-16的外國私募發放者報告

1934年證券交易法

針對2024年12月。

委員會 文件號碼： 001-41883

羅馬 綠色金融有限公司

(登記人名稱需與其章程中所示的完全一致)

開曼 群島

(註冊或組織的司法管轄區)

Flat 605, 6/F., 泰東大廈, 弗萊明路8號

灣仔, 香港

(主要執行辦公室地址)

盧克 何韻玲 克萊爾首席執行官

電話： + 852 25296878

電子郵件： Claireluk@romagroup.com

單元 香港閃靈道8號大同大廈6樓605室

灣仔， 香港

(姓名, 電話，電子郵件和/或傳真號碼以及公司聯繫人地址)

請通過勾選方式指明註冊人是否提交或將提交採用20-F或40-F表格的年度報告。20-F表格 ☒ 40-F表格

請在下方打勾，表明註冊人是否按照《S-t規則》第101(b)(1)條的允許以紙質形式提交第6-K表格： ____

備註: 規則S-t第101(b)(1)條僅允許以紙質形式提交Form 6-k，前提是該表格僅用於向證券持有人提供附帶的年度報告。

請在下方打勾，表明註冊人是否按照《S-t規則》第101(b)(7)條的允許以紙質形式提交第6-K表格： ____

備註: 規則S-t第101(b)(7)條僅允許以紙質形式提交Form 6-k，前提是提交該表格是爲了提供註冊人作爲外國私人發行人的法律要求必須提供並向公衆披露的報告或其他文件， 該註冊人所在轄區的法律或其證券在家鄉交易所上市的規則所規定的（註冊人的「母國」），只要該報告或其他文件不是新聞稿， 不要求發放且未分發給註冊人的證券持有者，並且如果涉及重大事件，已在Form 6-k提交或其他委員會文件在EDGAR上提交過。

羅馬 綠色金融有限公司

及 子公司

宣佈 截至2024年9月30日的六個月未經審計的財務結果

警告 關於前瞻性聲明和初步說明的注意事項

以下對我們財務控制項和運營結果的討論與分析應與截至2024年3月31日的審計合併基本報表及相關說明一起閱讀，這些報告已於2024年8月1日提交給SEC的20-F表格中（「2024年8月20-F表格」）。除了歷史財務信息外，以下討論中還包含了反映我們當前計劃、預期、估計和信念的前瞻性陳述。我們的實際結果可能與前瞻性陳述中討論的結果有重大差異。導致或促成這些差異的因素包括下文和本中期報告的其他部分中討論的因素。

在某些情況下，這些前瞻性陳述可以通過諸如「相信」、「計劃」、「期待」、「打算」、「應該」、「尋求」、「估計」、「將會」、「目標」和「預期」或其他類似表達的詞語或短語來識別，但這些並不是識別此類陳述的唯一方法。除歷史事實陳述外，本文件中包含的所有陳述，包括關於未來財務狀況和結果、業務策略、管理層未來運營的計劃和目標（包括髮展計劃和分紅派息）以及關於未來行業增長的陳述，均爲前瞻性陳述。

這些 前瞻性聲明受到風險、不確定性和假設的影響，其中一些超出了我們的控制範圍。此外，這些 前瞻性聲明反映了我們對未來事件的當前觀點，並不保證未來的表現。實際 結果可能因多種因素而與前瞻性聲明中所包含的信息有實質性不同，包括但不限於在2024年8月的20-F表格中列出的「風險因素」和以下內容：

本表格6-k中所作的前瞻性聲明僅與聲明日期的事件或信息相關。 除法律要求外，我們不承擔任何義務，在聲明發出後更新或公開修訂前瞻性聲明，無論是由於新信息、未來事件或其他原因，也不反映意外事件的發生。 您應全面閱讀本表格6-k，並認識到我們實際的未來結果或表現可能與我們的預期存在重大差異。

在本中期報告中，術語「公司」、「羅馬」、「我們」、「我們的」或「我們」僅指註冊於開曼群島法律下的有限責任公司羅馬綠色金融有限公司。 我們的功能貨幣和報告貨幣爲港元（我們稱其爲「HKD」或「HK$」）。術語「美元」、「美元指數」、「美金」或「$」指的是美國美元，作爲美國的法定貨幣。本中期報告中將港元轉換爲美國美元的方便翻譯，採用的匯率爲HK$7.8=US$1.00。

所有 與截至2024年9月30日和2023年9月30日的六個月相關的金額（「 interim 基本報表」） 均來自我們截至2024年9月30日和2023年9月30日的未經審計的簡明合併基本報表，詳見 本中期報告的其他部分。這些 interim 基本報表是根據美國一般公認會計原則（US GAAP）編制的。

管理層的 財務狀況和經營成果的討論與分析

概述

羅馬綠色金融有限公司是一家根據開曼群島法律註冊的豁免公司。作爲一家沒有實質性直接業務的控股公司，我們通過在香港和新加坡的運營子公司，作爲環保、社會和治理（ESG）、可持續性及氣候變化相關諮詢服務的專業專家開展業務。我們成立於2018年，並開始提供核心的可持續發展項目開發和ESG報告服務，使企業能夠展示其遵守適用規則和法規的情況。我們受到幫助企業提升ESG表現的熱情驅動，認爲這是業務可持續性的推動因素。我們旨在與客戶一起走過可持續性之旅，在旅程的每一個階段爲他們提供全面的壓力位支持，從可持續發展項目開發到ESG報告、氣候變化戰略和解決方案、環保審計，以及其他許多服務。

我們 與客戶密切合作，幫助他們理解、識別、管理並克服因與ESG、可持續性和氣候變化相關的各種業務問題。我們提供量身定製的可持續解決方案，以滿足企業的具體 需求。

我們 從每個提供服務的客戶那裏收取顧問費用。我們的營業收入具有韌性，因爲我們爲來自多個行業的170多位客戶提供服務。

截至2024年和2023年3月31日，我們的淨營業收入分別爲港幣990萬元和港幣1360萬元，與去年相比減少了約27.4%。

截至2024年9月30日和2023年9月30日的六個月期間，我們的淨營業收入分別爲320萬港元和510萬港元，較可比期間下降了約37.6%。

經營結果

截至2024年9月30日的六個月與截至2023年9月30日的六個月

營業收入

如以下表所示，在截至2024年9月30日和2023年9月30日的六個月內，我們的營業收入來源於提供ESG、可持續發展和氣候變化相關的諮詢服務：

我們的 總營業收入在截至2024年9月30日的六個月內減少了約191萬港幣，減少幅度爲37.6％，降至約317萬港幣，而截至2023年9月30日的六個月內爲約508萬港幣。這一下降主要是由於重複客戶減少了約220萬港幣，但新客戶增加約20萬港幣進行了部分抵消。我們的ESG合規和可持續性相關諮詢服務合同通常在下半年完成，並在服務完成時確認營業收入，因此截至2024年9月30日，合同負債顯著增加。

截至2024年和2023年9月30日的六個月期間，營業收入來自位於香港和新加坡的客戶。

營業收入 按地區劃分

截至2024年和2023年9月30日的六個月期間，我們的ESG、可持續發展和氣候變化相關諮詢服務的客戶主要位於香港。以下表格顯示了截至2024年和2023年9月30日的我們營業收入按客戶地理位置的細分：

截至2024年9月30日的六個月期間，來自新加坡的營業收入有所增加。集團已投入更多資源以擴大新加坡市場，以增加現有的市場份額，包括招聘更多經驗豐富和專業的員工，併爲我們在新加坡辦公室的員工提供相關培訓，使他們能夠獲得新客戶並推動增長。 而由於與合規和可持續性相關的顧問服務合同通常在年份的下半年完成，因此來自香港的營業收入有所減少。這些收入將在服務完成時確認，因此截至2024年9月30日，合同負債顯著增加。

收入成本

截至2024年9月30日和2023年9月30日的六個月期間，我集團的收入成本主要由直接人工成本構成。截止2024年9月30日和2023年9月30日的六個月期間，我們的收入成本分別約爲300萬港元和350萬港元。

公司在截至2024年9月30日和2023年6個月期間，爲項目支付和發生諮詢費用，金額爲HK$2.3萬和HK$70萬。

毛利潤和毛利潤率

我們的 截至2024年9月30日和2023年9月30日的六個月，總毛利約爲20萬港元和150萬港元， 分別地。截至2024年9月30日的六個月中，我們的總毛利率約爲5.7％和30.3％， 分別是 2023 年。在截至2024年9月30日的六個月中，由於毛利下降，我們的總毛利有所下降 截至2024年9月30日的六個月中，部分客戶在ESG合規和可持續發展方面的收入 相關的諮詢服務合同預計將在2025財政年度的下半年完成，而且將 在服務完成後被確認爲收入，因此截至9月，合同負債大幅增加 2024 年 30 日。自收入成本影響以來，截至2024年9月30日的六個月中，我們的毛利率大幅下降 主要是工作人員的工資和其他相關費用，相對固定，因此收入的減少導致 毛利率下降。

銷售 和市場費

截至2024年9月30日和2023年9月30日的六個月，我們的銷售和市場費用分別約爲950萬港元和30萬港元。

截至2024年9月30日的六個月，銷售和營銷費用增加約爲920萬港元，相比於截至2023年9月30日的六個月的相應期間，主要是由於爲了加強客戶關係和探索機會以多樣化產品或服務提供而增加了與業務發展相關的營銷服務。

一般 和管理費用

下表列出了截至2024年9月30日和2023年9月30日的六個月內我們的管理費用的詳細情況：

我們的 一般及行政開支在截至2024年9月30日和2023年9月30日的六個月中分別約爲800萬港元和300萬港元。

專業 費用主要包括審計費用、預期信用損失評估的估值和發生的證券交易委員會（SEC）備案費用。

管理費用 費用代表與第三方服務提供商提供的行政服務支持相關的管理費用充電。   截至2024年9月30日和2023年9月30日，公司支付和發生的管理費用大約爲160萬港元和160萬港元。

許可證費代表了在香港使用三個商標與商號「Roma」相關的許可成本。

保險 主要指公司董事和高管支付的保險費。

員工薪酬代表獨立非執行董事和行政工作人員的報酬。增加主要是由於在上市時新招聘的獨立非執行董事，以及行政工作人員的薪酬在截至2024年9月30日的六個月內被記錄在行政費用中，而在截至2023年9月30日的六個月內則記錄在營業收入成本中。

其他 費用主要包括辦公用品、預期信貸損失準備金和其他雜項費用

其他收入（費用），淨額

下表列出了截至2024年9月30日和2023年9月30日的六個月內我們其他收入（費用）的細分情況：

截至2024年9月30日的六個月，我們的其他收入約爲港幣2.1萬，而截至2023年9月30日的六個月，其他支出約爲港幣1.9萬。

截至2024年9月30日的六個月，其他收入增加了大約4萬港元或211%，與截至2023年9月30日的相應六個月相比，主要是由於應收票據的利息收入增加，部分被由於項目終止而退還的80萬港元政府補助抵消。

收入 稅務費用

截至2024年9月30日的六個月期間，來自新加坡業務的所得稅費用爲10萬港元。在當地稅收制度下，公司在2024年9月30日產生了60萬港元的應稅收入，經過稅務調整。

在截至2023年9月30日的六個月期間，未計入所得稅費用。根據當地稅制，該公司截至2023年9月30日沒有產生應評估的收入，經過稅務調整後。

淨 損失

因此，我們截至2024年9月30日和2023年的六個月淨虧損分別約爲港幣1740萬和180萬。

流動性 及資本資源

我們的 流動性和營運資金需求主要與我們的營業費用有關。我們預計將通過多種來源爲我們的營運資金和其他 流動性需求提供資金，包括但不限於我們運營產生的現金、銀行信貸的貸款、下文提到的發行的淨收益以及其他股權和債務融資，適時進行。

在2022年10月24日，公司以每股2美元的價格向Next Master發行了38,622股普通股，現金對價爲77,244美元。同時，公司還向Next Master額外發行了45,000股普通股，以清償其90,000美元的債務，價格爲每股2美元。

在2023年7月26日，公司以每股1,203美元的價格向Top Elect Group Limited（關聯方）發行了1,202,981股普通股，並於2024年3月27日結算。同時，公司還分別向Next Master和Trade Expert Holdings Limited發行了61,038股和65,206股普通股，現金對價爲65美元和61美元。

在2024年1月11日，公司完成了2,449,943股普通股的發行，公衆價格爲每股4.00美元。該次發行的淨收益總額爲美國$8,680,594美元，扣除承銷折扣、佣金及與發行相關的費用。 

在 2024年2月，公司與藍峯有限公司、吉普西交易有限公司、下一個大師投資有限公司和交易專家控股有限公司簽訂了諮詢服務協議，服務期爲一年，結算方式爲現金或公司普通股。2024年4月，這些顧問與公司達成一致，同意以股票結算諮詢服務費用。2024年5月10日，公司向這些顧問全部發行了1,539,281股普通股，價格爲每股0.757美元。

該公司以最佳努力自承銷的方式，提供高達3,600,000股每股面值爲0.001美元的普通股，直接向選定投資者以每股固定發行價格0.351美元進行後續公開發行，總共募集資金1,263,600美元。公開發行的收益在2024年9月23日至2024年9月25日間收到，3,600,000股普通股隨後於2024年10月11日分配給投資者。

現金流

以下表格總結了截至2024年9月30日和2023年9月30日的現金流量：

現金 來自營業活動的流入

截至2024年9月30日的六個月期間，我們在經營活動中使用的淨現金約爲HK$690萬，主要包括我們的淨虧損HK$1740萬，加上(i)大約HK$0.01百萬的非現金財產和設備折舊、預計信用損失準備金約HK$20萬和爲營銷諮詢服務支付的股票支付HK$470萬，(ii)應收賬款增加約HK$3.29萬，(iii)應付給董事的金額減少約HK$130萬，(iv)其他應收款增加約HK$6.22萬，(v)應計費用和其他應付款減少約HK$250萬，部分抵消了(a)合同負債增加約HK$560萬，(b)預付款減少約HK$360萬和應付稅款增加HK$10萬。

截至2023年9月30日的六個月，我們用於經營活動的淨現金約爲港幣6萬，主要包括我們淨虧損港幣180萬，加回(i)非現金折舊的物業和設備約港幣0.02百萬和預計信用損失準備金約港幣4萬，(ii)應收賬款減少約港幣150萬，(iii)應付款項增加約港幣110萬，(iv)存入資金、預付款項和其他應收款減少約港幣60萬，(v)應付相關方金額減少港幣190萬，並部分抵消了(a)應計和其他應付款減少約港幣260萬，(b)應付賬款減少約港幣7萬，(c)合同負債減少約港幣80萬。

現金 投資活動產生的現金流

截至2024年9月30日的六個月，我們在投資活動中使用的淨現金約爲港幣1710萬元，用於發行 應收票據。

截至2023年9月30日的六個月內，投資活動沒有產生現金流。

現金 來自融資活動的現金流

截至2024年9月30日的六個月內，我們從融資活動中產生的淨現金約爲930萬港元，總毛收益爲1,263,000美元（約980萬港元），來自以0.351美元的發行價格出售3,600,000股公司的普通股，基於自籌資金的後續公開發行，並抵消大約50萬港元的遞延發行費用。

截至2023年9月30日的六個月內，我們在融資活動中使用的淨現金約爲30萬港元，用於支付延期費用，並通過發行新股的收益抵消了0.1萬港元。

應收賬款，淨額

我們的 應收賬款淨額從2024年3月31日的約150萬港元減少到2024年9月30日的約130萬港元。減少主要歸因於（i）應收賬款的結算和（ii）2024年9月30日結束的六個月期間營業收入的減少。

我們沒有對這些應收賬款餘額收取任何利息，也沒有持有任何作爲安防的擔保物。我們沒有遇到，也不預期會遇到，從這些較長期發票中收款的問題。

以下表格列出了我們應收賬款（淨額）的賬齡分析，基於以下提到的日期的發票日期：

應收賬款減值準備的變動如下：

賬戶 餘額在沒有實際回收可能性的情況下被註銷，這通常是在所有催收手段耗盡且雙方無法達成替代付款安排後。

我們 有一項政策，根據對應收賬款的可收回性評估和賬齡分析來確定減值準備，並基於管理層的判斷，包括信用質量的變化、每個客戶的過去收款歷史和當前 市場控制項。

應收賬款的減值準備與適用簡化方法的應收賬款總準備相關，用於預計信用損失（「ECL」）。信用風險等級根據定性和定量因素來定義，這些因素可以表明違約風險。ECL率是基於我們客戶所在行業的歷史損失率和應收賬款的賬齡計算得出的。

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