PAX Global Technology Limited (00327) reported FY2025 revenue of HK$5.87 billion, down 2.9 % year-on-year, but lifted profit attributable to shareholders by 5.6 % to HK$753.59 million. Basic earnings per share rose 6.3 % to HK$0.711, supported by disciplined cost control that offset softer top-line growth.
Gross profit declined 10.3 % to HK$2.56 billion as gross margin compressed by 360 basis points to 43.6 %, mainly due to a one-off HK$206.99 million charge for obsolete inventory. Operating profit nevertheless advanced 7.0 % to HK$915.79 million after selling expenses fell 17.8 % and administrative expenses dropped 17.0 %.
Regionally, EMEA remained the largest contributor at HK$2.15 billion (-2.5 %), while United States & Canada (USCA) delivered the strongest growth, up 24.3 % to HK$1.11 billion. Asia-Pacific (APAC) edged 4.5 % higher to HK$1.11 billion, whereas Latin America & CIS (LACIS) contracted 20.2 % to HK$1.51 billion amid macro headwinds.
By product line, electronic payment terminals generated HK$5.49 billion (-3.9 %), accounting for 93.4 % of group turnover. Service revenue, driven by SaaS platform MAXSTORE, climbed 14.4 % to HK$387.20 million, expanding its share of total revenue to 6.6 %.
PAX Global ended December with cash and cash equivalents of HK$3.91 billion and no borrowings, supporting a current ratio of 4.5 times. Total assets increased 8.8 % to HK$9.98 billion, while total equity rose 5.4 % to HK$7.97 billion.
The board maintained the interim dividend of HK$0.25 per share paid in 1H25 but will not recommend a final dividend, reducing full-year payout to HK$0.25 per share versus HK$0.49 a year earlier. During 2025 the company repurchased 2.16 million shares for HK$9.86 million, all of which have been cancelled.
Operationally, Android-based devices contributed over 70 % of annual revenue, reflecting continued migration toward smart payment terminals. MAXSTORE connected more than 16 million devices globally, and management highlighted ongoing integration of artificial-intelligence functions to enhance platform efficiency.
The company cited proactive supply-chain measures to mitigate semiconductor cost pressures and reiterated its focus on product portfolio optimisation, SaaS expansion and disciplined cost management to sustain competitiveness in the evolving cashless payments landscape.
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