Hong Kong Technology Venture Company (1137) investor relations material

Executive summary

• Intensified competition in Hong Kong retail led to aggressive pricing and promotional strategies, impacting short-term profitability but driving GMV and customer base growth.

• Strategic focus on market share expansion, enhanced pricing, broader product assortment, and fulfilment excellence.

• AI adoption and operational efficiency improvements were prioritized across all business functions.

Financial highlights

• Group GMV on order intake rose 6.9% year-over-year to HK$4,469.8 million in 1H2026.

• Turnover increased 8.3% to HK$2,045.3 million; direct merchandise sales up 8.1%.

• Adjusted EBITDA dropped to HK$(6.2) million from HK$48.1 million; net loss widened to HK$78.1 million from HK$23.2 million.

• Gross profit margin decreased to 23.2% (1H2025: 23.9%).

• Net cash and liquidity position at HK$477.6 million as of 30 June 2026.

Outlook and guidance

• Continued investment in pricing competitiveness, customer engagement, and fulfilment expansion expected to pressure short-term profitability.

• Focus remains on expanding market share in grocery and daily essentials, refining discount campaigns, and leveraging AI for operational gains.

• HKTVplus membership to be phased out in 2H2026 for a streamlined customer proposition.