HK$1.00 ($0.13)

+0.01 (+1.01%)

Weekly Expected Move ±2.0%

HK$1 HK$1 HK$1 HK$1 HK$1

HKSE · Real Estate · REIT - Diversified · Tech Score Sell · Power 45 · HK$1.1B mcap · 581M float · 0.050% daily turnover

Analysis Technicals Weather Peers

Revenue

$422M -20.4% ▼

5Y CAGR: +2.6%

Gross Profit

$294M -23.4% ▼

5Y CAGR: +1.4%

Operating Income

$280M -21.7% ▼

5Y CAGR: -5.1%

Net Income

-$96M +46.1% ▲

EPS (Diluted)

$-0.09 +46.8% ▲

EBITDA

-$20M +8.5% ▲

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$433M	$432M	$489M	$529M	$422M
YoY Growth	+16.9%	-0.3%	+13.3%	+8.2%	-20.4%
Cost of Revenue	$113M	$113M	$134M	$146M	$128M
Gross Profit	$320M	$318M	$355M	$384M	$294M
Gross Margin	74.0%	73.7%	72.6%	72.5%	69.7%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$18M	$13M	$16M	$17M	$0
Operating Expenses	$32M	$23M	$27M	$27M	$14M
Operating Income	$415M	$295M	$477M	$357M	$280M
Operating Margin	95.9%	68.4%	97.5%	67.5%	66.3%
Interest Expense	$54M	$90M	$137M	$132M	$114M
Income Before Tax	$387M	-$93M	-$177M	-$154M	-$134M
Tax Expense	$119M	$104M	$12M	$24M	$4M
Net Income	$268M	-$210M	-$189M	-$178M	-$96M
Net Margin	61.8%	-48.5%	-38.7%	-33.7%	-22.8%
EPS (Diluted)	$0.24	$-0.19	$-0.15	$-0.16	$-0.09
EBITDA	$441M	-$3M	-$40M	-$22M	-$20M
Shares Outstanding	1.13B	1.13B	1.13B	1.13B	1.13B

Line Item	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2
Revenue	$257M	$238M	$251M	$266M	$263M	$225M	$207M	$188M
Cost of Revenue	$0	$0	$0	$0	$0	$0	$69M	$61M
Gross Profit	$257M	$238M	$251M	$266M	$263M	$225M	$138M	$127M
Gross Margin	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	66.8%	67.4%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$14M	$4M	$12M	$8M	$8M	$4M	$11M	$5M
Operating Expenses	$306M	$232M	$9M	$8M	$8M	$4M	$11M	$5M
Operating Income	$174M	$168M	$243M	$103M	$255M	$221M	$66M	$122M
Operating Margin	67.6%	70.7%	96.6%	38.5%	96.8%	98.1%	31.6%	64.6%
Interest Expense	$0	$0	$0	$0	$62M	$55M	$58M	$55M
Income Before Tax	-$108M	-$54M	-$124M	-$155M	$602K	-$74M	-$64M	-$90M
Tax Expense	$63M	$10M	$2M	-$12M	$37M	$6M	-$2M	-$880K
Net Income	-$177M	-$57M	-$115M	-$135M	-$49M	-$48M	-$50M	-$82M
Net Margin	-69.1%	-24.1%	-45.8%	-50.8%	-18.8%	-21.5%	-24.3%	-43.3%
EPS (Diluted)	$-0.16	$-0.05	$-0.10	$-0.12	$-0.04	$-0.04	$-0.04	$-0.07
EBITDA	-$288M	-$215M	$175M	$549M	-$571M	$0	$128M	-$34M
Shares Outstanding	1.13B	1.13B	1.13B	1.13B	1.13B	1.13B	1.13B	1.18B

1503.HK HKSE