iFAST Corporation (AIY) Q2 2025 earnings summary

Executive summary

• Net profit rose 37.9% year-on-year to $22.11M in Q2 2025, driven by strong Hong Kong ePension, turnaround at Global Bank, and core Wealth Management growth.

• Group AUA reached a record $27.2B, up 21.6% year-on-year, with Q2 2025 net inflows at $1.29B (+62.9% YoY).

• Global Bank achieved its third consecutive quarterly profit, with Q2 2025 net profit of $0.7M and customer deposits up 124% year-on-year to $1.45B.

• Hong Kong business gross revenue grew 33.4% year-on-year to $45.6M, with profit before tax up 17.8% to $15.7M in Q2 2025.

• Dividend per share for Q2 2025 is 2.0 cents, up 33.3% year-on-year; full-year dividend expected to be at least 8.0 cents, 35.6% higher than FY2024.

Financial highlights

• Q2 2025 gross revenue increased 28.3% year-on-year to $120.24M; net revenue up 30.4% to $80.05M.

• First half 2025 total revenue reached $227.16M, up 26.4% year-on-year; net profit up 34.7% to $41.15M.

• EPS for Q2 2025 was 7.31 cents, up 35.9% year-on-year; 1H2025 EPS was 13.68 cents, up 33.1%.

• Cash and cash equivalents stood at $821.84M at end-Q2 2025, reflecting strong operating cash flow and deposit growth.

• Net asset value per share rose to 114.36 cents as of 30 June 2025.

Outlook and guidance

• Revenues and profitability expected to improve in H2 2025 versus H1, with robust full-year growth over 2024.

• ePension, core Wealth Management, and Global Bank divisions all projected to grow in H2 2025.

• Directors expect to propose a total dividend of at least 8.0 cents per share for FY2025, up 35.6% year-on-year.

• Hong Kong business maintains guidance for FY2025 PBT over HKD380M, with stronger H2 expected due to ePension ramp-up.

• Double-digit growth guided for 2026 compared to 2025.