HK$3.18 ($0.41)

+0.09 (+2.75%)

Weekly Expected Move ±4.9%

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

HKSE · Industrials · Staffing & Employment Services · Tech Score Strong Sell · Power 35 · HK$480.7M mcap · 73M float · 0.070% daily turnover

Analysis Technicals Weather Peers

Revenue

$5.5B +22.4% ▲

5Y CAGR: +19.1%

Gross Profit

$499M +18.1% ▲

5Y CAGR: +15.7%

Operating Income

-$23M -128.1% ▼

Net Income

-$71M -272.9% ▼

EPS (Diluted)

$-0.47 -280.8% ▼

EBITDA

$140M -2.1% ▼

View Full Income Statement

Line Item	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue	$2.8B	$4.7B	$3.6B	$4.5B	$5.5B
YoY Growth	+23.7%	+67.5%	-23.2%	+22.9%	+22.4%
Cost of Revenue	$2.6B	$4.5B	$3.5B	$4.0B	$5.0B
Gross Profit	$271M	$252M	$185M	$422M	$499M
Gross Margin	9.6%	5.3%	5.1%	9.4%	9.1%
R&D Expenses	$14M	$18M	$33M	$58M	$60M
SG&A Expenses	$128M	$166M	$167M	$337M	$337M
Operating Expenses	$90M	$166M	$161M	$340M	$522M
Operating Income	$199M	$117M	$11M	$83M	-$23M
Operating Margin	7.0%	2.5%	0.3%	1.9%	-0.4%
Interest Expense	$3M	$5M	$5M	$10M	$14M
Income Before Tax	$208M	$120M	$13M	$75M	-$39M
Tax Expense	$25M	$18M	$6M	$7M	$19M
Net Income	$183M	$102M	-$7M	$41M	-$71M
Net Margin	6.5%	2.1%	-0.2%	0.9%	-1.3%
EPS (Diluted)	$1.07	$0.61	$-0.05	$0.26	$-0.47
EBITDA	$236M	$175M	$74M	$143M	$140M
Shares Outstanding	171M	166M	153M	156M	151M

Line Item	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2
Revenue	$1.9B	$2.1B	$2.4B	$2.5B	$3.0B	$2.6B	$3.0B	$2.9B
Cost of Revenue	$1.8B	$1.9B	$2.1B	$2.2B	$2.7B	$2.4B	$2.8B	$2.7B
Gross Profit	$129M	$178M	$269M	$245M	$254M	$192M	$201M	$201M
Gross Margin	6.8%	8.6%	11.2%	9.9%	8.5%	7.4%	6.8%	6.8%
R&D Expenses	$19M	$26M	$32M	$32M	$29M	$5M	$6M	$5M
SG&A Expenses	$80M	$167M	$176M	$175M	$162M	$130M	$150M	$142M
Operating Expenses	$92M	$156M	$209M	$213M	$309M	$133M	$131M	$160M
Operating Income	$43M	$29M	$59M	$31M	-$55M	$58M	$70M	$41M
Operating Margin	2.3%	1.4%	2.5%	1.3%	-1.8%	2.2%	2.4%	1.4%
Interest Expense	$5M	$11M	-$1M	$0	$5M	$2M	$5M	$6M
Income Before Tax	$41M	$20M	$55M	$27M	-$66M	$49M	$62M	$79M
Tax Expense	$10M	$1M	$6M	$6M	$12M	$5M	$14M	$14M
Net Income	$18M	$10M	$31M	$22M	-$93M	$41M	$46M	$63M
Net Margin	1.0%	0.5%	1.3%	0.9%	-3.1%	1.6%	1.6%	2.1%
EPS (Diluted)	$0.12	$0.06	$0.20	$0.14	$-0.62	$0.35	$0.30	$0.41
EBITDA	$57M	$47M	$82M	$50M	$91M	$69M	$81M	$90M
Shares Outstanding	153M	156M	156M	154M	150M	154M	155M	155M

6919.HK HKSE