BoardWare Intelligence Technology (1204) investor relations material

Executive summary

• H1 2026 revenue was HK$316.042m, down 1.7% YoY, as 31.3% Enterprise IT growth was offset by a 39.0% decline in distribution and resale.

• Net profit rose to HK$1.270m from HK$0.785m; gross margin narrowed to 20.8% from 21.7%.

• Cash and cash equivalents increased to HK$107.4m, while total borrowings fell to HK$59.2m following net repayments.

Financial highlights

• Revenue was HK$316.042m versus HK$321.440m; cost of sales and services decreased to HK$250.248m from HK$251.554m.

• Gross profit fell 5.9% to HK$65.794m; profit before tax rose to HK$1.362m from HK$0.840m, and net profit to HK$1.270m from HK$0.785m.

• Basic EPS was HK0.25 cents versus HK0.16 cents; total comprehensive income was HK$3.383m versus HK$1.391m.

• Other income rose to HK$7.964m from HK$5.590m, including Macau FDCT R&D subsidies; administrative expenses fell 15.5% to HK$35.4m.

Outlook and guidance

• High-value Professional IT services contracts are expected to contribute meaningfully in H2; further Transform AI orders are expected subject to customer discussions.

• Priorities include commercialising AI and BCI solutions, validating products with users, and expanding cross-border data services and overseas partnerships, subject to market conditions and execution.

• A proposed Hengqin data and supercomputing centre remains at preliminary feasibility stage, with no binding agreement, timetable, capital commitment or return projection.