UBoT (8529) H1 2025 earnings summary

Executive summary

• H1 2025 revenue rose 13.6% YoY to HK$90.412m; net profit was HK$5.270m versus a HK$9.461m loss in H1 2024, which included HK$8.363m of listing expenses.

• Higher utilisation, production efficiency and automation lifted gross margin to 36.7%; Philippine capacity expansion supported diversification and delivery capability.

Financial highlights

• Revenue was HK$90.412m versus HK$79.612m; gross profit was HK$33.161m versus HK$27.936m.

• Profit before tax was HK$5.352m versus a HK$7.828m loss; basic and diluted EPS was HK1.03 cents versus a loss of HK2.4 cents.

• Operating cash flow was HK$10.042m versus cash used of HK$7.649m; cash and cash equivalents decreased HK$3.686m during H1 to HK$3.876m.

• Other gains and losses were HK$2.591m versus HK$0.595m; finance costs were HK$2.343m versus HK$2.300m.

Outlook and guidance

• 2025 semiconductor market projections were near US$700bn, up 11.2% YoY, supported by AI, data center and automotive electronics demand.

• Strategy focuses on Philippine capacity expansion, developing the China market, new-product manufacturing and targeted international expansion.

• Management cited revived demand for tray products after weaker 2024 conditions as the main H1 revenue growth driver.