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Computime Announces FY2025 Annual Results

2025-06-30 Company News

Strengthening Growth Through Glocalization Strategy Financial Highlights For the year ended 31 March FY2025 HK$ million FY2024 HK$ million Year-on-Year (“YoY”) Change Revenue 3,996.6 4,037.8 (1.0%) Gross profit 653.3 631.1 3.5% Adjusted EBITDA(Note1) 332.2 333.9 (0.5%) Profit after tax 90.3 83.9 7.6% Proposed final dividend HK$0.054 HK$0.050 8.0% Note 1: Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) excluded loss on valuation of HK$1.6 million in current year and gain on valuation of HK$7.0 million in last year. (30 June 2025, Hong Kong) — A leading technology, brand, and manufacturing company and an enabler of smart and sustainable living, Computime Group Limited (the “Company” or “Computime”, together with its subsidiaries, collectively the “Group”; stock code: 320.HK) is pleased to announce its annual results for the year ended 31 March 2025 (the “Year” or “FY2025”), highlighting resilience amid macroeconomic headwinds and reaffirming its long-term growth path with the implementation of its Five-Year Plan and expansion into Southeast Asia. Results overview In FY2025, Computime reported consolidated revenue of HK$3,996.6 million, a marginal decline of 1.0% year-on-year, continued market sluggishness and a HK$133 million shipment backlog in the Control Solutions segment that was carried forward from the previous fiscal year. However, gross profit rose 3.5% to HK$653.3 million, with margin improving to 16.3%, supported by strategic cost control and improved margins in the Branded Business segment. Profit after tax grew 7.6% to HK$90.3 million, while Adjusted EBITDA remained stable at HK$332.2 million. These results reflect the Group’s disciplined management and agile response to volatile market conditions. The cash position remained robust, with net cash of HK$95.9 million and gearing ratio improving to 8.4%. Segment Review The Control Solutions segment recorded revenue of HK$3,565.8 million, relatively flat versus last year. This was primarily attributed to softer performance in the HVAC sector, which saw headwinds due to unfavorable climatic factors and a slowdown in both new home construction and residential retrofit activities. The Branded Business segment achieved HK$430.8 million in revenue, slightly down 1.4% due to softness in the United States. Nevertheless, Salus delivered strong growth in the second half of FY2025, fueled by the successful launch of the new smart home solution and regained market share in Eastern Europe. Our Approach: Glocalization Focus within our Five-Year Plan Now in the second year of its Five-Year Plan, Computime continues to place Glocalization at the heart of its growth strategy. By integrating localized execution with centralized oversight from the Hong Kong headquarters, the Group delivers globally standardized solutions that are tailored to meet specific regional demands. This approach has strengthened agility, enhanced structural resilience, and ensured steady progress despite ongoing market volatility. The Glocalization strategy is supported by three core operational models. Through the Region-to-Region approach, local business development teams are empowered to lead customer engagement, align production schedules, and drive sales, while drawing on global resources to respond swiftly and effectively to local needs. The Hub-and-Spoke model positions Hong Kong as the central coordination hub, optimizing resource allocation and ensuring strategic consistency across markets. Meanwhile, the Specialized and Flexible Hybrid Model enables each regional site to leverage its unique strengths within a unified framework, promoting collaboration and operational efficiency across the Group. Together, these elements form a cohesive, adaptive system that supports sustainable expansion and long-term value creation. Corporate Priorities: Driving the Next Growth Phase Computime’s future growth is guided by a focused strategy built around innovation, operational excellence, and global coordination. The Group is expanding its presence in high-growth green and smart home markets, developing AI-driven energy and water management solutions aligned with evolving global standards. With over 500 engineers and more than 200 patents, Computime is scaling its innovation capabilities to deliver energy-efficient products that address real-world needs across industries and regions. To further support this transformation, the Group is enhancing its organizational structure through a refined talent model and integrated capabilities across North America, the European Union, Southeast Asia, and China. These changes enable greater responsiveness and alignment across operations. At the same time, Computime is streamlining its processes by implementing profit-and-loss accountability at the business unit level, rolling out SAP for digital integration, and reallocating resources to improve execution. These strategic initiatives collectively reinforce the Group’s commitment to sustainable, scalable growth in an increasingly complex global environment. ESG Stewardship: A Core Business Imperative In FY2025, Computime deepened its commitment to sustainability through action and accountability. The Group received multiple accolades, including three (3) Low Carbon Manufacturing Programme Gold Labels from WWF, the LOOP+ Third Level label in Hong Kong, and Penang Green Office Label in Malaysia. The EcoVadis rating also rose significantly to the 78th percentile and was awarded the Bronze Medal. The Group achieved a 38.3% reduction in Scope 1 and 2 greenhouse gas emissions from its 2020 baseline—surpassing its five-year reduction target. An ESG roadmap through 2050 is in place, with a net-zero commitment reflecting Computime’s long-term view that sustainability is not only a responsibility, but also a strategic advantage for resilience and future-proofing. Outlook Looking ahead, Computime remains cautiously optimistic. With increasing demand for smart and sustainable solutions, the Group is accelerating its global footprint to capture new opportunities. The Group is actively expanding its presence across Asia and Europe, with a new regional hub in Singapore marking a major step in this journey. Supported by Singapore Economic Development Board, this new facility will serve as an integrated platform for engineering, sales, and customer service—supporting end-to-end solutions across Southeast Asia. Mr. Bernard AUYANG, Chairman, Executive Director and Chief Executive Officer of Computime Group, commented “We will continue to drive forward our Glocalization Strategy as a means to navigate uncertainty with confidence. Looking ahead, Computime will continue to invest strategically—in advanced technology, product innovation, and smart infrastructure upgrades—to ensure we stay agile, competitive, and future-ready. We are committed to delivering long-term value to all stakeholders and to fulfilling our vision of enabling smart and sustainable living on a global scale.”

Computime Earns the 3rd LCMP Gold Label

2025-03-13 Company News

[Hong Kong, 13 March 2025] Computime Group Limited (the “Company”), together with its subsidiaries (the “Group”, we, our, us), is pleased to announce that our manufacturing facility in Malaysia, Computime (Malaysia) SDN. BHD., has earned the Gold Label in the Low Carbon Manufacturing Programme (“LCMP”) organized by the World Wide Fund for Nature (“WWF”). This marks the third (3rd) Gold Label we have received, following previous awards to our manufacturing facilities in Shenzhen, China, Computime Electronics (Shenzhen) Co. Ltd. and Computime Control Devices Manufacturing (Shenzhen) Co. Ltd. The LCMP recognition highlights our exceptional contributions to greenhouse gas reduction and energy management. This achievement demonstrates our commitment to low-carbon operations across our manufacturing sites. Mr. AUYANG Pak Hong Bernard, Chairman, Chief Executive Officer, and Executive Director of Computime Group remarked: “We are excited to receive the Gold Label again from the LCMP program. This milestone is significant to us as it recognizes our commitment to smart and sustainable living. We will continue to promote energy-saving and resource-saving initiatives globally, moving closer to a net-zero future.”

Computime Announces FY24/25 Interim Results

2024-11-28 Company News

Financial Results Met Our Expectations Amid Macroeconomic Challenges and Climatic Factors Strengthening Global Presence Through “Glocalization” Approach (28 November 2024 – Hong Kong) Computime Group Limited (the “Company” or “Computime”, together with its subsidiaries, collectively the “Group”; stock code: 320.HK) is pleased to announce its interim results for the six months ended 30 September 2024 (“1H FY24/25” or the “Period”). Financial Overview The Group reported a revenue of HK$1,811.3 million in 1H FY24/25 (The six months ended 30 September 2023 (“1H FY23/24”): HK$2,046.8 million). This decline was mainly hindered by a HK$133 million backlog in shipments within the Control Solutions segment. After adjusting for this backlog, revenue reflects a 5% year-over-year decrease, which aligns with our expectations. The Heating, Ventilation, and Air Conditioning (“HVAC”) sector of Control Solutions faced challenges from climatic factors and reduced demand for new home construction, while the Branded Business struggled due to warm weather and slow construction activity. As a result, gross profit fell to HK$282.9 million, an 8% decrease. However, the gross profit margin improved to 15.6%, driven by effective cost control and operational efficiencies. EBITDA was HK$146.5 million in 1H FY24/25, maintaining a stable EBITDA margin of 8.1%. As at 30 September 2024, cash and bank balances were HK$217.1 million, with net cash at a healthy HK$70.1 million. Segment Review In 2024, global economic growth has remained subdued. Geopolitical tensions, high interest rates, and various disruptions have dampened markets, particularly affecting the new home construction and residential retrofit activities in Western economies, which have also impacted us. In the Control Solutions segment, revenue fell to HK$1,638.6 million, an 11.2% decrease from HK$1,844.4 million in the first half of FY23/24, primarily due to HK$133 million in shipment backlogs, and reduced demand in the HVAC sector offset gains in Appliances and Water and Air sectors. The Branded Business also faced challenges, with revenue dropping 14.6% to HK$172.8 million due to warmer weather and sluggish construction activity. Despite these challenges in both segments caused by external market conditions and seasonal variations, we expect strategic initiatives and new product launches to bolster performance in the latter part of the year. Our “Glocalization” Approach As we expand our global footprint, we have further enhanced our presence by establishing the manufacturing facility in Romania and preparing our site in Vietnam. To effectively manage our global footprint, we utilize a “Glocalization” approach, which combines globalization and localization to better serve our customers and understand local markets. This strategy allows us to tailor our global products to meet specific regional needs. Our “Glocalization” approach employs three operational models. The “Region-to-Region” model, with manufacturing sites in Romania, Mexico, Vietnam, and Malaysia, enhances our responsiveness to on-shoring demands in Europe and North America. Our “Hub and Spoke” structure provides centralized support for efficient resource management across regional offices. Additionally, the “Specialized and Flexible Hybrid” model enables locations to leverage their unique strengths. These strategies optimize operations, improve market reach, and enhance competitiveness in an increasingly complex global landscape. Outlook The macroeconomic landscape continues to present challenges, particularly in the newly built home property sector. However, residential retrofit activities have surged in 2024, driven by new energy-efficient upgrade standards in the European Union, the United Kingdom, and the United States of America, signaling promising long-term opportunities. Mr. Bernard AUYANG, Chairman, Executive Director and Chief Executive Officer of Computime Group, commented, “Our commitment to sustainability aligns with growing consumer and regulatory demands for environmentally responsible solutions, positioning us favorably as more businesses and consumers prioritize eco-friendly practices.” He continued: “Despite current market sluggishness, our “Glocalization” approach has fostered strong relationships with customers, enabling us to secure order volumes and initiate new projects. Our focus on innovation and sustainable solutions, along with continued investments in Research and Development and the establishment of a technology hub, will enhance our competitiveness. While macroeconomic conditions may remain challenging, our strategic emphasis on sustainability and customer relationships will drive future success.”

Computime Achieves Two Low-Carbon Sustainability Recognitions

2024-11-11 Company News

[Hong Kong, 11 Nov 2024] Computime Group Limited (the “Company”), along with its subsidiaries (the “Group”), is excited to announce that we have been awarded the Low Carbon Operation Programme Plus (“LOOP+”) Level 3 label from WWF and the Penang Green Office Label from Malaysia Penang Green Council. LOOP+ Level 3 label from WWF The LOOP+ Level 3 certification represents the second highest tier in the LOOP+ rating system and marks the third consecutive year that Computime has been recognised within this program, highlighting our commitment to sustainability and environmental stewardship. The LOOP+ initiative is designed to assist companies in managing operational risks through effective carbon management. It encourages Hong Kong-listed companies to gather and report KPIs in accordance with the Stock Exchange of Hong Kong (“HKEX”) Environmental, Social and Governance (“ESG”) Reporting Guide. Penang Green Office Label from Penang Green Council In addition, Computime’s Malaysia office has proudly received the Penang Green Office Label, a certification dedicated to promoting sustainable and eco-friendly practices within corporate environments in Penang, Malaysia. This recognition serves as a strong motivation for us to continue reducing our ecological footprint, enhancing resource efficiency, and embracing sustainable business methodologies. The Penang Green Council, a non-profit organization established by the Penang State Government, grants the certification based on an assessment of sustainability principles and practices that contribute to environmental conservation. Our Commitment to Sustainability These achievements demonstrate our commitment to fostering sustainable office practices worldwide. In recent years, we have launched various initiatives under our Global Green Office program, demonstrating our dedication to creating low-carbon, eco-friendly workplaces. We adhere to the principles of “Reduce, Reuse and Recycle”, focusing on five key areas – “Energy Saving, Going Paperless, Water Reduction, Water Conservation and Recycling”. The certifications validate our environmental management system and certify our ongoing efforts to promote sustainability within our operations. We are proud to be recognised for these initiatives and remain committed to enhancing our environmental practices moving forward.

Computime Earns Gold Labels in Low Carbon Manufacturing Programme from WWF

2024-10-03 Company News

[Hong Kong, 3 October 2024] – Computime Group Limited (the “Company”), together with its subsidiaries (the “Group”) is excited to announce that our Shenzhen factories have been awarded the prestigious Gold Label in the Low Carbon Manufacturing Programme (“LCMP”) by the World Wide Fund for Nature (“WWF”). This milestone reflects our dedication to fostering an environmentally responsible approach within our operations and sets a benchmark for excellence in sustainable manufacturing practices across the global. The LCMP, an initiative by WWF, provides manufacturers with a carbon accounting and labeling system. The program measures the effectiveness of manufacturers in reducing carbon emissions. Our Shenzhen factories — Computime Electronics (Shenzhen) Co. Ltd. and Computime Control Devices Manufacturing (Shenzhen) Co. Ltd. — have been recognized for our exceptional contributions to energy conservation and greenhouse gas reduction during the manufacturing processes. Mr. AUYANG Pak Hong Bernard, Chairman, Chief Executive Officer, and Executive Director of Computime Group remarked: “We are honored to receive the Gold Label from WWF. As an enabler of smart and sustainable living, we recognize the importance of implementing low-carbon manufacturing practices. This recognition highlights our commitment to sustainability and emphasizes our leadership in driving the green transformation of our industry as we strive towards a net-zero future.”

Computime Ranked Among Top 50 EMS Companies in 2023 by MMI

2024-09-03 Company News

[Hong Kong, 3 Sep 2024] Computime Group Limited (the “Company”), together with its subsidiaries (the “Group”) is pleased to announce that we have been recognized as one of the Top 50 EMS Companies for 2023 by Manufacturing Market Insider (“MMI”). We are also honored to rank 3rd among Hong Kong listed companies in this category. MMI, a division of New Venture Research Corp., is a renowned monthly newsletter that provides specialized coverage of the EMS industry. Established in 1988, New Venture Research Corp. delivers advanced business research services for the high technology electronics sector. Each year, MMI conducts a survey involving over 100 of the largest EMS companies worldwide. The rankings are based on a variety of metrics, including sales figures, sales growth, the number of employees and so on. The ranking emphasizes our strong position and deep expertise in the EMS sector. This recognition reflects our core values and validates our 50 years of success, achieved through sustained collaborations with major customers. It highlights our commitment to excellence and our capacity to meet industry demands. As an innovator and enabler of smart and sustainable living, we are dedicated to strategically exploring opportunities through technologies product and advanced manufacturing solutions. Our strategic initiatives are aimed at enhancing our financial performance, thereby delivering increased value to our stakeholders. [Read more] New Venture Research: https://newventureresearch.com/the-mmi-top-50-for-2023/

Computime Signs MOU with Standard Chartered Bank HK for Vietnam Plant Setup

2024-08-06 Company News

[Hong Kong, 6 August 2024] – Computime Group Limited (the “Company”), together with its subsidiaries (the “Group”), is excited to announce the signing of a Memorandum of Understanding (the “MOU”) with the Standard Chartered Bank (Hong Kong) Limited (the “Standard Chartered Bank”). This MOU marks the beginning of a collaboration aimed at driving our business expansion and development in Vietnam. The MOU, signed on 2 August 2024, signifies a strengthened relationship between the Group and the Standard Chartered Bank, with a shared vision of seizing business opportunities in the dynamic Hong Kong-Vietnam corridor. The Group aims to enhance its business operations and to establish new manufacturing plants in the region by leveraging the Standard Chartered Bank’s extensive network and capabilities in Vietnam. Mr. AUYANG Pak Hong Bernard, Chairman, Executive Director, and Chief Executive Officer of Computime Group, expressed his excitement about the strategic partnership, “We strongly believe that the collaboration with the Standard Chartered Bank will open up remarkable opportunities for our Group. The close trade relationship and trade investment partnership between Hong Kong and Vietnam unleash enormous development potential for our Group. We are confident that this strategic partnership will accelerate our business expansion and significantly enhance our operational capabilities in the region. The strategic partnership aligns with our global footprint strategies and highlights our dedication to maximizing shareholders’ value.” This strategic partnership is a testament to the Group’s ongoing efforts to diversify our revenue streams and enhance our profitability. The Group firmly believes that this MOU will drive our business growth, thereby increasing long-term value for the Group and our stakeholders. -End- [More press releases] HKTDC: Hong Kong delegation concludes ASEAN mission in Vietnam 50+ MoUs signed over the last week SCB: Standard Chartered Hong Kong signs MOUs with clients to jointly explore business opportunities in Hong Kong-Vietnam corridor

Computime Announces FY23/24 Annual Results

2024-06-28 Company News

Profit After Tax Recorded a 5-year-high at HK$83.9 Million EBITDA Increased by 41.9% to HK$340.9 Million The Board Proposes a Final Dividend of HK$0.05 Financial Highlights For the year ended 31 March FY2024 HK$ million FY2023 HK$ million Year-on-Year (“YoY”) Change Revenue 4,037.8 4,204.8 (4.0%) Gross profit 631.1 508.8 24.0% EBITDA(Note1) 340.9 240.2 41.9% Profit after tax 83.9 23.5 257.0% Proposed final dividend HK$0.050 HK$0.021 138.1% Note 1: Earnings before interest, taxes, depreciation and amortisation (“EBITDA”) (28 June 2024 – Hong Kong) A leading technology, brand, and manufacturing company and an enabler of smart and sustainable living, Computime Group Limited (the “Company” or “Computime”, together with its subsidiaries, collectively the “Group”; stock code: 320.HK) is pleased to announce its annual results for the year ended 31 March 2024 (the “Year” or “FY23/24” or “FY2024”). As the Group marks its 50th anniversary, we continue to demonstrate resilience and strategic foresight in the complex global landscape. Results overview The Group reported the revenue of HK$4,037.8 million for FY2024, a decrease of 4.0% from HK$4,204.8 million for the Year ended 31 March 2023 (“FY2023”), due to soft demand in the housing-related market and recession concerns in the Europe and North America. Despite the revenue decline, the gross profit margin improved to 15.6% in FY2024 from 13.4%[1] in FY2023, driven by enhanced operational efficiency, effective material management and favorable exchange rate environment. The profit before tax increased by 242.7% to HK$107.6 million from HK$31.4 million in FY2023, while the profit after tax is reaching HK$83.9 million, representing 3 times of the profit after tax for FY2023 at HK$23.5 million. Additionally, the adjusted EBITDA[2] was recorded at HK$333.9 million, reflecting a 13.2% growth from HK$295.0 million in FY2023. The Group’s cash and bank balances were HK$226.7 million as at 31 March 2024, while the net cash improved to HK$90.3 million as at 31 March 2024 from HK$84.3 as at 31 March 2023. The inventory balance decreased by 15.0% to HK$824.0 million, indicating better operational efficiency and material management. Segment Review The Control Solutions segment saw a revenue drop from HK$3,665.7 million in FY2023 to HK$3,601.0 million, a 1.8% YoY decrease due to weakened market demand and reduced consumer confidence. Despite the drop in revenue, profit margins improved significantly, driven by stable demand from long-term customer partnerships and integrated technology and manufacturing collaborations. Moving forward, the Group will implement a globalization strategy with a “region-to-region” approach, collaborating with customers to launch innovative product platforms. These efforts to foster strong customer relationships, expand our global footprint, and enhance operational productivity position the Control Solutions segment well to navigate market fluctuations and sustain profitability. The Branded Business segment reported a revenue of HK$436.8 million for FY2024, a 19.0% decrease from FY2023, due to challenging market conditions and customer destocking. Despite these challenges, the Branded Business segment is poised for growth through strategic initiatives. We are expanding into Eastern Europe with a dedicated sales team and launching new platforms including Electric Vehicle chargers (“EVCs”), home battery storage solutions, Artificial Intelligence (“AI”)-driven climate control systems, Matter-compatible thermostats, and ultra-quiet Thermostatic Radiator Valves (“TRVs”). A major focus is the Salus Protect security service, targeting the security industry and enhancing our smart home offerings in the European market. Partnering with Securitas, it includes security hardware, smart home devices, and monitoring services under the brands Immunity and Merlin. Additionally, a new centralized warehouse in Poland will boost logistics and distribution efficiency, supporting regional growth. Research and development (“R&D”) Computime’s global R&D team of 200 engineers drives innovation across the Centers of Excellence in Mainland China, Hong Kong, the United States (“US”), Romania, and the United Kingdom (“UK”). Our commitment to technological advancement is reinforced through strategic partnerships and ownership in engineering firms, focusing on cloud technology. Collaboration among engineers in Hong Kong, Mainland China, and India enhances scalability and interoperability, leveraging diverse expertise to maintain our competitive edge in intelligent product development. Outlook Computime is leveraging AI and sustainability to drive a new era of expansion. With a global R&D team of 200 engineers and over 200 patents, we focus on energy and water management, using AI for significant efficiency gains. Amid the COVID-19 pandemic, Computime adopted a region-to-region model, establishing manufacturing hubs in Malaysia, Vietnam, Mexico and Romania to enhance supply chain resilience and meet rising demand in the US and European markets. The Group’s Branded Business segment anticipates increasing demand in 2024, with plans to expand our Salus smart home product line. Financial strategies include tighter expense control, a headcount freeze, and improved material efficiency, aiming to boost profitability and cash reserves. Computime remains dedicated to leading in smart and sustainable living technologies, adhering to Matter standards for enhanced interoperability and user experience. Mr. Bernard AUYANG, Chairman, Executive Director and Chief Executive Officer of Computime Group, commented, “As Computime celebrates its 50th anniversary, we reflect on our journey marked by innovation, resilience, and significant achievements. Our evolution from humble beginnings to a global leader in smart and sustainable living is a testament to our entrepreneurial spirit and unwavering determination. Looking ahead, we are committed to driving positive change through cutting-edge technologies and sustainable practices. Our vision is to democratize smart living, empowering communities worldwide to lead more connected, efficient, and environmentally conscious lives. With a steadfast commitment to excellence, integrity, and social responsibility, we are ready to shape the future for generations to come.” [1] Excluding the specific inventory provision for Malaysia [2] Excluding one-off gain on valuation of HK$7.0 million in the current year and the additional inventory provision for the Group’s Malaysia operation of HK$54.9 million in last year

Computime announces the launch of one of the first true Matter thermostats

2024-05-27 Company News

Computime Group, a leading innovator in manufacturing, branded products and technology solutions, is proud to announce the upcoming launch of one of the first true Matter thermostats. This milestone highlights our commitment to pioneering smart home technology and providing our OEM and ODM customers with state-of-the-art solutions. Matter is set to revolutionize the Internet of Things (IoT) landscape as the next-generation standard for connected devices. Developed by the Connectivity Standards Alliance, Matter offers an open, universal protocol that is not bound to any single ecosystem, providing consumers with unparalleled freedom and flexibility. It ensures privacy-sensitive, secure, and reliable local controls without the need for cloud dependency, addressing the growing demand for enhanced privacy and security in smart home devices. The key principles driving Matter’s development include simplicity, reliability, interoperability, and security. By ensuring that all Matter-certified devices work seamlessly together, Matter eliminates the complexities often associated with smart home technology. This leads to greater compatibility, easier setup, and more robust user experiences across various device types, including thermostats. Computime’s Matter thermostat represents a significant advancement in smart home technology, providing our customers with cutting-edge solutions and a short lead time to market, to meet the growing demand for interconnected and efficient home environments. We invite our customers to explore the capabilities of our new thermostat solutions. Computime’s extensive expertise in developing and manufacturing smart home devices ensures that our customers receive high-quality, reliable products with a short lead-time that stand out in the competitive market.

Computime Steps into Hong Kong’s EV Charger Market through Strategic Partnerships with Key Local Charge Point Operators

2024-05-07 Company News

(Hong Kong, 7 May 2024) – A technology, brand and manufacturing solutions provider, Computime Group Limited (“Computime” or the “Company”, together with its subsidiaries, the “Group”, stock code: 320.HK), is pleased to announce a significant milestone in entering the electric vehicle (“EV”) charger market through collaboration with key charge point operators (“CPOs”) among Hong Kong EV charging service industry. This move signifies our first stride into the fast-growing Hong Kong EV charger market and is a significant step forward for our Group. These CPOs hold a commanding lead in Hong Kong’s market share, primarily serving key public facilities, shopping malls and residential estates. We will tailor and customise EV chargers to meet diverse needs and applications. In the initial phase over 100 units will be deployed within public facilities on the Hong Kong Island. For the next phase, our target is to supply more than 2,000 EV chargers. The collaboration with key CPOs has made our EV chargers accessible to the Hong Kong market, also marks the official launch of our EV chargers’ commercial use. The EV chargers to be supplied are based on the VERDI EV Charger model, which was honored with the prestigious Red Dot Design Award for Product Design in 2023. The chargers, offering personalised connection options, provide flexibility for various use-case scenarios, meeting the demanding needs for fast-charging solutions among local users in Hong Kong. Mr. AUYANG Pak Hong Bernard, Chairman, Chief Executive Officer and Executive Director of Computime Group, said, “As a company rooted in Hong Kong, we are eager to deliver an excellent charging experience to local users. Our partnership with Hong Kong’s key CPOs enables direct engagement with users and the delivery of smart and advanced solutions, showcasing our dedication to promoting smart and sustainable living. We are looking forward to strengthening these collaborations, driving innovation in eco-friendly products tailored for our customers in Hong Kong. Hong Kong marks the beginning of our journey, and our sights are set on a broader horizon. We aim to expand into overseas markets in the next quarter. As we look to the future, we plan to seize the opportunities presented by globalisation to introduce our products to a wider market and contribute to global advancements in green technology.”