HK$20.04 ($2.55)

+0.04 (+0.20%)

Weekly Expected Move ±9.7%

HK$16 HK$18 HK$20 HK$22 HK$24

HKSE · Basic Materials · Industrial Materials · Tech Score Strong Buy · Power 70 · HK$31.2B mcap · 398M float · 1.09% daily turnover

Revenue

$29.2B +38.8% ▲

5Y CAGR: +25.6%

Gross Profit

$5.4B +58.3% ▲

5Y CAGR: +39.4%

Operating Income

$4.2B +79.4% ▲

5Y CAGR: +38.5%

Net Income

$1.8B +68.7% ▲

5Y CAGR: +25.7%

EPS (Diluted)

$1.14 +67.6% ▲

5Y CAGR: +25.9%

EBITDA

$4.8B +62.4% ▲

5Y CAGR: +35.2%

View Full Income Statement

Line Item	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue	$7.8B	$12.4B	$18.3B	$21.1B	$29.2B
YoY Growth	-17.0%	+60.5%	+46.9%	+15.1%	+38.8%
Cost of Revenue	$6.8B	$10.9B	$13.8B	$17.7B	$23.9B
Gross Profit	$953M	$1.5B	$4.5B	$3.4B	$5.4B
Gross Margin	12.3%	12.2%	24.6%	16.1%	18.3%
R&D Expenses	$4M	$8M	$0	$0	$0
SG&A Expenses	$46M	$74M	$887M	$1.0B	$1.2B
Operating Expenses	$229M	$430M	$1.2B	$1.0B	$1.2B
Operating Income	$724M	$1.1B	$3.3B	$2.3B	$4.2B
Operating Margin	9.3%	8.7%	18.2%	11.1%	14.4%
Interest Expense	$42M	$79M	$254M	$535M	$648M
Income Before Tax	$700M	$1.4B	$3.2B	$1.8B	$3.8B
Tax Expense	$182M	$179M	$157M	$40M	$608M
Net Income	$520M	$1.1B	$1.7B	$1.1B	$1.8B
Net Margin	6.7%	8.8%	9.5%	5.0%	6.1%
EPS (Diluted)	$0.34	$0.71	$1.30	$0.68	$1.14
EBITDA	$796M	$1.6B	$3.9B	$3.0B	$4.8B
Shares Outstanding	1.55B	1.55B	1.34B	1.56B	1.56B

Line Item	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2
Revenue	$8.3B	$9.3B	$11.8B	$10.9B	$18.4B	$18.1B	$22.1B	$25.0B
Cost of Revenue	$6.9B	$7.7B	$10.0B	$9.1B	$14.8B	$14.6B	$18.0B	$18.7B
Gross Profit	$1.4B	$1.6B	$1.8B	$1.8B	$3.5B	$3.6B	$4.1B	$6.3B
Gross Margin	17.0%	16.9%	15.4%	16.8%	19.2%	19.7%	18.7%	25.4%
R&D Expenses	$5M	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$360M	$489M	$553M	$555M	$599M	$641M	$765M	$750M
Operating Expenses	$510M	$699M	$469M	$558M	$599M	$641M	$765M	$848M
Operating Income	$820M	$903M	$1.2B	$1.3B	$2.9B	$2.9B	$3.4B	$5.5B
Operating Margin	9.9%	9.7%	10.5%	11.7%	15.9%	16.2%	15.3%	22.0%
Interest Expense	$0	$0	$0	$264M	$262M	$325M	$307M	$406M
Income Before Tax	$792M	$636M	$1.1B	$993M	$2.8B	$2.8B	$3.1B	$5.5B
Tax Expense	$54M	$26M	$66M	$23M	$585M	$511M	$588M	$1.2B
Net Income	$385M	$338M	$713M	$587M	$1.2B	$1.4B	$1.4B	$2.7B
Net Margin	4.6%	3.6%	6.1%	5.4%	6.5%	7.9%	6.5%	10.8%
EPS (Diluted)	$0.28	$0.22	$0.46	$0.38	$0.76	$0.92	$0.92	$1.74
EBITDA	$1.1B	$1.2B	$1.6B	$1.5B	$3.3B	$3.3B	$4.0B	$6.3B
Shares Outstanding	1.36B	1.56B	1.56B	1.56B	1.56B	1.56B	1.56B	1.56B

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