Also trades as: U9E.SI (SES) · $vol 0M · BOTRF (OTC) · $vol 0M

HK$1.28 ($0.16)

-0.01 (-0.39%)

Weekly Expected Move ±2.7%

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

HKSE · Utilities · Regulated Water · Tech Score Strong Sell · Power 31 · HK$3.7B mcap · 776M float · 0.036% daily turnover

Revenue

$5.4B -20.8% ▼

5Y CAGR: -0.8%

Gross Profit

$2.4B -8.7% ▼

5Y CAGR: +1.7%

Operating Income

$1.7B -12.7% ▼

5Y CAGR: -0.1%

Net Income

$870M -14.7% ▼

5Y CAGR: -3.2%

EPS (Diluted)

$0.30 -16.7% ▼

5Y CAGR: -3.6%

EBITDA

$1.9B -11.6% ▼

5Y CAGR: +0.8%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$6.9B	$6.7B	$6.7B	$6.9B	$5.4B
YoY Growth	+22.1%	-2.7%	-0.3%	+2.2%	-20.8%
Cost of Revenue	$4.1B	$4.2B	$3.9B	$4.2B	$3.0B
Gross Profit	$2.8B	$2.6B	$2.8B	$2.6B	$2.4B
Gross Margin	40.5%	38.1%	42.1%	38.2%	44.0%
R&D Expenses	$50M	$51M	$0	$49M	$37M
SG&A Expenses	$671M	$731M	$641M	$703M	$614M
Operating Expenses	$717M	$673M	$641M	$667M	$688M
Operating Income	$2.1B	$1.9B	$2.2B	$1.9B	$1.7B
Operating Margin	30.2%	27.9%	32.5%	28.5%	31.4%
Interest Expense	$435M	$545M	$591M	$541M	$492M
Income Before Tax	$1.7B	$1.4B	$1.7B	$1.4B	$1.2B
Tax Expense	$405M	$315M	$405M	$319M	$297M
Net Income	$1.2B	$1.0B	$1.2B	$1.0B	$870M
Net Margin	17.4%	15.0%	17.7%	14.9%	16.0%
EPS (Diluted)	$0.42	$0.35	$0.42	$0.36	$0.30
EBITDA	$2.3B	$2.2B	$2.5B	$2.2B	$1.9B
Shares Outstanding	2.86B	2.86B	2.86B	2.86B	2.86B

Line Item	FY2024 Q1	FY2024 Q2	FY2024 Q3	FY2024 Q4	FY2025 Q1	FY2025 Q2	FY2026 Q1	FY2026 Q2
Revenue	$1.7B	$1.7B	$1.7B	$1.7B	$1.6B	$1.6B	$1.2B	$1.2B
Cost of Revenue	$1.0B	$1.0B	$1.1B	$1.1B	$955M	$955M	$582M	$582M
Gross Profit	$635M	$635M	$674M	$674M	$685M	$685M	$614M	$614M
Gross Margin	37.9%	37.9%	38.5%	38.5%	41.8%	41.8%	51.3%	51.3%
R&D Expenses	$11M	$11M	$14M	$14M	$9M	$9M	$7M	$7M
SG&A Expenses	$114M	$114M	$213M	$213M	$154M	$154M	$155M	$155M
Operating Expenses	$125M	$125M	$227M	$227M	$162M	$162M	$162M	$162M
Operating Income	$510M	$510M	$447M	$447M	$522M	$522M	$451M	$451M
Operating Margin	30.4%	30.4%	25.6%	25.6%	31.9%	31.9%	37.7%	37.7%
Interest Expense	$0	$275M	$129M	$129M	$124M	$124M	$0	$0
Income Before Tax	$408M	$408M	$303M	$303M	$416M	$416M	$362M	$362M
Tax Expense	$94M	$94M	$66M	$66M	$103M	$103M	$82M	$82M
Net Income	$291M	$291M	$219M	$219M	$282M	$282M	$259M	$259M
Net Margin	17.3%	17.3%	12.5%	12.5%	17.2%	17.2%	21.6%	21.6%
EPS (Diluted)	$0.10	$0.10	$0.08	$0.08	$0.10	$0.10	$0.09	$0.09
EBITDA	$570M	$570M	$486M	$486M	$583M	$583M	$519M	$519M
Shares Outstanding	2.86B	2.86B	2.86B	2.86B	2.86B	2.86B	2.86B	2.86B

1857.HK HKSE