SUNEVISION Shares Surge Over 6% by Noon Following 9.7% Rise in Interim Net Profit

Deep News02-27

SUNEVISION (01686) saw its shares climb more than 6% by midday. At the time of writing, the stock was up 6.55%, trading at HK$6.67, with a turnover of HK$107 million.

The company announced its interim results for the period ending December last year. Revenue reached HK$1.508 billion, a 2.6% increase year-on-year. Recurring revenue from data center and IT facilities rose 7% to HK$1.377 billion. Net profit grew 9.7% to HK$531 million. EBITDA increased by 4% annually to HK$1.096 billion, with the profit margin expanding from 72% to 73%.

SUNEVISION stated that the first phase of its MEGA IDC project was successfully launched in the first half of 2024. The project covers a total floor area of approximately 500,000 square feet and is equipped with 50 megawatts of power. Initial clients have already commenced operations. Upon full completion of subsequent phases, MEGA IDC will expand the group’s total data center floor space in Hong Kong from 2.3 million square feet at the end of last year to nearly 3 million square feet. Power capacity will also increase from 150 megawatts to over 280 megawatts.

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