Comba Telecom Systems (2342) H2 2025 earnings summary

Executive summary

• Revenue grew 0.9% year-over-year to HK$4.57 billion, driven by stable international sales and growth in network systems.

• Gross profit margin improved by 2.8 percentage points to 28.7%, reflecting better pricing power and cost control.

• Net profit attributable to shareholders was HK$35 million, a turnaround from a HK$564 million loss in 2024.

• Operating cash flow increased to HK$527 million, up from HK$339 million in the prior year.

• No final dividend was declared for the year.

Financial highlights

• Gross profit rose 12.1% year-over-year to HK$1.31 billion.

• Net profit margin improved to 0.8% from -12.5% in 2024.

• Basic EPS was HK1.15 cents, compared to a loss per share of HK20.41 cents last year.

• Net assets increased to HK$3.2 billion, up HK$548 million from 2024.

• Inventory turnover days improved to 98 from 123; A/R turnover days improved to 185 from 244.

Outlook and guidance

• Management expects continued opportunities and challenges, focusing on R&D, innovation, and global market expansion.

• Plans to further enhance operational efficiency and organizational effectiveness.

• Targets ongoing growth in green product revenue and continued reduction in carbon emissions.