Smart Digital Group Ltd files 20-F

Smart Digital Group Limited reported a net loss of $37,845,629 for the fiscal year ended September 30, 2025, a decrease from a net income of $1,696,654 in the prior fiscal year. This loss was primarily driven by $35,000,000 in share-based compensation expenses and an increase of approximately $4.9 million in allowance for credit losses. The company's ordinary shares have been suspended from trading on the Nasdaq Capital Market since September 29, 2025.