Tradelink Electronic Commerce Limited released its audited results for the year ended 31 December 2025, showing modest growth in both the top and bottom lines despite a challenging trade environment.
Financial highlights • Revenue rose 2.1 % year-on-year to HK$252.73 million. • Profit attributable to equity shareholders increased 2.5 % to HK$84.03 million. • Basic and diluted earnings per share improved to HK10.6 cents (2024: HK10.3 cents). • Operating profit jumped 12.3 % to HK$75.64 million, lifting the operating margin to 29.9 % (2024: 27.2 %). • Cash and bank deposits totalled HK$456.70 million, up 0.8 %, with the Group remaining debt-free. • Net assets stood at HK$382.65 million, up 1.0 % from a year earlier.
Dividend The Board recommends a final dividend of HK6.5 cents per share, taking the full-year distribution to HK10.2 cents—1.0 % higher than FY2024. This represents a payout ratio of 96.5 % of FY2025 earnings. Subject to approval at the AGM on 29 May 2026, the final dividend will be paid on 22 June 2026 to shareholders on the register as of 5 June 2026.
Segment performance E-Commerce • Revenue: HK$170.40 million (-0.8 %). • Segment profit: HK$53.64 million (-2.4 %). GETS turnover remained stable, with revenue up 0.7 % to HK$151.30 million despite a 9.5 % volume drop. Supply Chain Solutions revenue fell 11.1 % to HK$19.10 million due to subdued project demand.
Identity Management • Revenue: HK$50.64 million (+10.5 %). • Segment profit: HK$8.94 million (+169.3 %). Growth was driven by a HK$33.0 million government contract secured in June 2025 and broader adoption of the “iD-One” digital certificate.
Other Services • Revenue: HK$31.69 million (+5.2 %). • Segment profit: HK$21.57 million (+17.2 %). Higher GETS-related service income offset softer Smart PoS sales amid a weak retail backdrop.
Cost and cash-flow profile • Staff costs declined 1.6 % to HK$111.23 million. • Cost of purchases fell 2.3 % to HK$21.33 million. • Depreciation eased 8.9 % to HK$8.52 million. • Interest income dropped to HK$17.61 million (2024: HK$22.58 million) due to lower deposit yields. • Capital commitments rose to HK$7.30 million, mainly for new IT equipment.
Balance sheet strength • Net current assets expanded to HK$347.32 million. • The Group recorded no borrowings and maintained two bank guarantees totalling HK$2.20 million, secured by equivalent deposits.
Outlook noted by management Management expects the E-Commerce segment to remain sensitive to external trade flows but sees opportunities from the Hong Kong Trade Single Window Phase 3 migration and the scheduled mid-2026 launch of the AI-powered T+ trade platform. Identity Management growth is underpinned by the long-term government contract, broader uptake of digital certificates and ongoing investment in deep-fake defence technologies.
No material acquisitions, disposals or share buy-backs were undertaken during the year. The Company confirmed full compliance with Hong Kong’s Corporate Governance Code and that all dividend decisions aligned with its stated dividend policy.
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