Stock Track | SUNEVISION Soars 10.54% Intraday on Strong Interim Results and MEGA IDC Project Launch

Stock Track02-27

SUNEVISION's stock price soared 10.54% during intraday trading on Friday, reflecting positive investor sentiment.

The surge follows the company's announcement of its interim results for the period ending December last year, which showed robust performance. Revenue increased by 2.6% year-on-year to HK$1.508 billion, with recurring revenue from data center and IT facilities rising 7% to HK$1.377 billion. Net profit grew by 9.7% to HK$531 million, while EBITDA increased by 4% to HK$1.096 billion, accompanied by a profit margin expansion from 72% to 73%.

Additionally, SUNEVISION highlighted the successful launch of the first phase of its MEGA IDC project in the first half of 2024. The project, covering approximately 500,000 square feet with 50 megawatts of power, has already seen initial clients commence operations. Upon full completion, it will expand the group's total data center floor space in Hong Kong from 2.3 million square feet to nearly 3 million square feet and increase power capacity from 150 megawatts to over 280 megawatts, signaling strong growth prospects.

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