HK$3.11 ($0.40)

-0.01 (-0.32%)

Weekly Expected Move ±3.5%

HK$3 HK$3 HK$3 HK$3 HK$3

HKSE · Consumer Cyclical · Gambling, Resorts & Casinos · Tech Score Neutral · Power 60 · HK$2.2B mcap · 71M float · 0.222% daily turnover

Analysis Technicals Weather Peers

Revenue

$127.5B -2.2% ▼

5Y CAGR: -2.3%

Gross Profit

$9.1B +7.5% ▲

5Y CAGR: -31.5%

Operating Income

$11.0B +22.1% ▲

5Y CAGR: -12.6%

Net Income

$4.0B +18.5% ▲

5Y CAGR: -20.7%

EPS (Diluted)

$5.76 +20.5% ▲

5Y CAGR: -19.1%

EBITDA

$66.1B +1.3% ▲

5Y CAGR: +9.0%

View Full Income Statement

Line Item	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue	$98.7B	$105.2B	$117.2B	$130.4B	$127.5B
YoY Growth	-31.0%	+6.6%	+11.4%	+11.2%	-2.2%
Cost of Revenue	$97.8B	$95.1B	$112.3B	$121.9B	$118.5B
Gross Profit	$975M	$10.1B	$4.9B	$8.4B	$9.1B
Gross Margin	1.0%	9.6%	4.2%	6.5%	7.1%
R&D Expenses	$0	$0	$0	$0	$0
SG&A Expenses	$1.4B	$1.3B	$4.3B	$1.5B	$1.5B
Operating Expenses	-$726M	$2.1B	$6.8B	-$543M	-$1.9B
Operating Income	$6.7B	$10.7B	$6.8B	$9.0B	$11.0B
Operating Margin	6.8%	10.1%	5.8%	6.9%	8.6%
Interest Expense	$2.5B	$2.4B	$3.3B	$4.2B	$5.0B
Income Before Tax	$4.3B	$8.5B	$3.9B	$5.4B	$6.1B
Tax Expense	$2.0B	$3.5B	$2.1B	$2.0B	$2.0B
Net Income	$2.4B	$5.0B	$1.8B	$3.4B	$4.0B
Net Margin	2.4%	4.7%	1.5%	2.6%	3.1%
EPS (Diluted)	$3.10	$6.80	$2.50	$4.78	$5.76
EBITDA	$27.4B	$42.4B	$54.0B	$65.2B	$66.1B
Shares Outstanding	761M	738M	718M	708M	696M

Line Item	FY2021 Q2	FY2021 Q4	FY2022 Q2	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2025 Q4
Revenue	$50.9B	$54.2B	$56.2B	$61.0B	$64.4B	$66.0B	$63.8B	$62.8B
Cost of Revenue	$43.7B	$48.3B	$51.5B	$57.8B	$59.1B	$59.9B	$58.4B	$59.3B
Gross Profit	$7.2B	$6.0B	$4.7B	$3.2B	$5.3B	$6.1B	$5.3B	$3.5B
Gross Margin	14.2%	11.0%	8.3%	5.3%	8.3%	9.2%	8.4%	5.6%
R&D Expenses	$0	$0	$0	$0	$0	$0	$0	$0
SG&A Expenses	$3.6B	$3.7B	$3.5B	$4.1B	$3.6B	$3.7B	$3.3B	$1.6B
Operating Expenses	$513M	$1.9B	$1.2B	$188M	$748M	$1.5B	-$710M	$1.6B
Operating Income	$6.1B	$4.5B	$5.0B	$1.9B	$5.2B	$4.6B	$6.0B	$1.9B
Operating Margin	12.0%	8.2%	8.8%	3.1%	8.0%	6.9%	9.5%	3.0%
Interest Expense	$1.1B	$1.1B	$1.2B	$1.4B	$0	$0	$2.4B	$3.2B
Income Before Tax	$5.6B	$2.9B	$2.3B	$1.6B	$2.9B	$2.5B	$3.6B	-$452M
Tax Expense	$2.2B	$1.4B	$1.1B	$1.0B	$1.1B	$1.0B	$1.4B	$25M
Net Income	$3.4B	$1.6B	$1.2B	$619M	$1.9B	$1.5B	$2.2B	-$479M
Net Margin	6.7%	2.9%	2.1%	1.0%	2.9%	2.3%	3.4%	-0.8%
EPS (Diluted)	$4.58	$2.16	$1.64	$0.86	$2.64	$2.15	$3.14	$-0.69
EBITDA	$14.5B	$18.1B	$21.4B	$23.3B	$28.2B	$28.5B	$29.6B	$28.4B
Shares Outstanding	746M	729M	721M	716M	712M	704M	696M	691M

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