HK$18.91 ($2.41)

+0.01 (+0.05%)

Weekly Expected Move ±4.2%

HK$17 HK$18 HK$19 HK$20 HK$20

HKSE · Real Estate · Real Estate - Services · Tech Score Neutral · Power 53 · HK$21.8B mcap · 184M float · 1.00% daily turnover

Revenue

$36.3B +0.2% ▲

5Y CAGR: +14.9%

Gross Profit

$4.4B -5.4% ▼

5Y CAGR: +5.7%

Operating Income

$950M -27.2% ▼

5Y CAGR: -9.6%

Net Income

$677M -41.1% ▼

5Y CAGR: -14.3%

EPS (Diluted)

$0.58 -40.8% ▼

5Y CAGR: -14.2%

EBITDA

$2.0B -21.9% ▼

5Y CAGR: -3.3%

View Full Income Statement

Line Item	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	$23.7B	$30.1B	$33.2B	$36.2B	$36.3B
YoY Growth	+30.6%	+27.0%	+10.2%	+9.2%	+0.2%
Cost of Revenue	$19.7B	$25.9B	$28.4B	$31.5B	$31.9B
Gross Profit	$4.0B	$4.2B	$4.8B	$4.7B	$4.4B
Gross Margin	17.0%	14.1%	14.5%	13.0%	12.2%
R&D Expenses	$374M	$412M	$377M	$342M	$280M
SG&A Expenses	$2.0B	$2.6B	$2.6B	$2.5B	$2.8B
Operating Expenses	$1.9B	$2.4B	$3.1B	$3.4B	$3.5B
Operating Income	$2.1B	$1.1B	$1.7B	$1.3B	$950M
Operating Margin	9.0%	3.7%	5.0%	3.6%	2.6%
Interest Expense	$10M	$11M	$9M	$12M	$24M
Income Before Tax	$2.3B	$2.0B	$2.7B	$1.7B	$993M
Tax Expense	$606M	$434M	$622M	$440M	$242M
Net Income	$1.7B	$1.5B	$2.0B	$1.1B	$677M
Net Margin	7.0%	5.0%	5.9%	3.2%	1.9%
EPS (Diluted)	$1.43	$1.40	$1.66	$0.98	$0.58
EBITDA	$2.7B	$2.9B	$3.7B	$2.5B	$2.0B
Shares Outstanding	1.17B	1.08B	1.18B	1.17B	1.16B

Line Item	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2
Revenue	$15.9B	$16.0B	$17.2B	$17.6B	$18.7B	$18.1B	$19.1B	$18.8B
Cost of Revenue	$13.8B	$13.6B	$14.8B	$15.2B	$16.4B	$15.6B	$17.1B	$16.5B
Gross Profit	$2.1B	$2.4B	$2.4B	$2.4B	$2.3B	$2.5B	$2.1B	$2.4B
Gross Margin	13.3%	15.1%	14.0%	13.6%	12.3%	13.7%	10.8%	12.7%
R&D Expenses	$208M	$194M	$183M	$182M	$160M	$157M	$130M	$160M
SG&A Expenses	$1.5B	$1.3B	$1.4B	$1.3B	$1.7B	$1.3B	$1.1B	$1.1B
Operating Expenses	$1.7B	$1.5B	$1.6B	$1.5B	$1.9B	$1.5B	$2.0B	$1.4B
Operating Income	$419M	$874M	$796M	$869M	$436M	$1.0B	$115M	$1.0B
Operating Margin	2.6%	5.5%	4.6%	5.0%	2.3%	5.6%	0.6%	5.4%
Interest Expense	$0	$0	$0	$0	$0	$0	$9M	$4M
Income Before Tax	$873M	$1.4B	$1.3B	$1.1B	$612M	$1.1B	-$81M	$1.1B
Tax Expense	$194M	$349M	$273M	$280M	$160M	$263M	-$15M	$266M
Net Income	$638M	$998M	$957M	$772M	$378M	$792M	-$97M	$771M
Net Margin	4.0%	6.2%	5.6%	4.4%	2.0%	4.4%	-0.5%	4.1%
EPS (Diluted)	$0.58	$0.84	$0.82	$0.66	$0.32	$0.68	$-0.08	$0.67
EBITDA	$946M	$1.6B	$1.4B	$1.6B	$1.0B	$1.7B	$645M	$1.5B
Shares Outstanding	1.11B	1.18B	1.18B	1.18B	1.17B	1.16B	1.16B	1.15B

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