VSTECS Holdings Limited (00856) released its audited results for the year ended 31 December 2025.
Revenue and Earnings • Group revenue climbed 9.57% year on year to HK$97.63 billion. • Gross profit increased 10.80% to HK$4.35 billion; gross margin edged up to 4.46%. • Operating profit rose 16.91% to HK$1.99 billion. • Profit attributable to equity shareholders surged 28.71% to HK$1.35 billion, lifting basic EPS to HK97.68 cents (2024: HK75.67 cents).
Segment Performance • Enterprise Systems contributed HK$53.53 billion (+2.30%), representing 55% of total revenue. • Consumer Electronics delivered HK$39.01 billion (+18.90%), accounting for 40%. • Cloud Computing generated HK$5.08 billion (+29.10%), making up the remaining 5%.
Geographical Mix • North Asia revenue grew 5.90% to HK$61.88 billion (63% of total). • South East Asia revenue advanced 16.63% to HK$35.75 billion (37% of total).
Balance Sheet and Liquidity • Cash and bank balances stood at HK$4.91 billion, up 24.36%. • Total borrowings fell to HK$8.80 billion from HK$9.24 billion, trimming the net-debt-to-total-asset ratio to 0.09 (2024: 0.14). • Current ratio remained stable at 1.31 times. • Net current assets reached HK$9.64 billion (2024: HK$8.29 billion).
Dividend The Board recommends a final dividend of HK41.77 cents per share, equivalent to HK$600 million and 62.6% higher than last year’s HK25.7 cents. The dividend is subject to shareholder approval at the AGM on 26 May 2026; payment is scheduled for 3 July 2026.
Outlook Management intends to broaden product offerings, deepen customer relationships and keep expanding in China and South-East Asia while pursuing operational and financial efficiency across all business segments.
Comments