All Major Businesses Reported Improved Results
New Businesses Launched Fuel Growth Momentum
HONG KONG, Aug. 21 /Xinhua-PRNewswire-FirstCall/ --
Key highlights:
-- Mobile customer base grew 15% year-on-year to 6.8 million worldwide
-- Turnover increased 12% to HK$9.6 billion
-- EBITDA increased 15% to HK$2.8 billion
-- One-time gain of HK$69.3 billion on disposal of interest
-- Special dividend payout gave IPO investors a return of over 100% in
less than three years
Financial highlights:
First half 2007 First half 2006 Change
HK$ millions HK$ millions %
Continuing operations:
Turnover 9,63 8,581 +12%
Operating profit before
disposal of investment
and others 828 539 +54%
Profit / (loss) before
taxation 663 (300) --
Profits from discontinued
operations: 70,502 1,206 --
Profit for the period 70,843 644 --
Profit attributable to
equity holders of the
Company 70,088 2 --
Basic earnings per share HK$14.69 HK$0.00 --
Hutchison Telecommunications International Limited ("Hutchison Telecom", the "Company" or the "Group"; HKEx: 2332; NYSE: HTX) today reported its unaudited results for the first six months of 2007. Excluding the contribution from the Group's India operations during the reporting period, turnover from continuing operations increased 12.3% to HK$9,639 million, compared to HK$8,581 million in the same period last year. This was driven mainly by growth in the customer base, which increased 15% year-on-year to 6.8 million, higher usage and higher revenue from mobile data usage.
EBITDA increased 15% year-on-year to HK$2,810 million with EBITDA margin of 29.2%. The Group's mobile businesses in Israel and Hong Kong continued to steer the improvement in EBITDA with increases of 19% and 21% respectively. These increases were partially offset by the start-up losses in Vietnam and Indonesia.
Operating profit, which is EBITDA minus depreciation and amortisation, saw a substantial increase of 55% year-on-year to HK$832 million.
As a result of the sale of CGP Investment (Holdings) Limited ("CGP") to Vodafone, which held our entire interests in Hutchison Essar Limited, the Group turned to having net cash on its balance sheet. As a result the Group generated interest income of HK$628 million which turned profit before taxation from continuing operations positive to HK$663 million from a loss of HK$300 million in the first half of 2006.
Profit for the period was HK$70,843 million, after recognising a one-time gain of HK$69.3 billion. Accordingly, the Group's unaudited profit attributable to equity holders surged to HK$70,088 million, compared to HK$2 million in the same period last year.
Basic earnings per share were HK$14.69, compared with HK$0.00 per share in the same period last year.
In view of its net cash position the Company has set a dividend policy for 2008 at a minimum of 30% of the Group's adjusted net profit attributable to equity holders of the Company.
The Company paid a special dividend of HK$6.75 per share on 29 June 2007, and the Board is not expecting to announce a further dividend in 2007.
Dennis Lui, Chief Executive Officer of Hutchison Telecom said: "The first half of 2007 marks a transformation period for Hutchison Telecom with several milestones achieved. In less than three years we were able to return to shareholders a special dividend which was more than the initial price of the shares at our IPO. We have also launched operations in Indonesia and Vietnam and have seen encouraging momentum in those high-growth markets. The Group's Hong Kong and Israel businesses continued to deliver strong operational and financial performance in challenging market conditions and the Sri Lanka operations reported a record surge in profitability."
Mr Lui added: "Hutchison Telecom has a proven track record in value creation. With our strong capital position and a well-balanced portfolio of high growth and cash-generating businesses, I am confident that attractive opportunities will present themselves to complement the continued development of the Company."
Operations review
Indonesia
-- Services launched in major cities with network in Java
-- Over one million activations since launch -- exceeded target
-- Network rollout continuing with coverage to be extended to cover the
whole of Sumatra by the end of 2007 and Sulawesi and Kalimantan in
2008
Hutchison Telecom launched its Indonesian operations through PT Hutchison CP Telecommunications ("HCPT") during the reporting period, using the global brand '3'. In the cities where our GSM services are available, including Jakarta and Bali as well as Batam, HCPT has already garnered a double-digit market share in gross customer additions. This is largely due to our extensive retail distribution network, strong branding and simple tariffs that fulfil the needs of a vast and underserved segment.
Loss before interest, taxation, depreciation and amortisation ("LBITDA") was HK$138 million during the first half of 2007 compared to HK$63 million in the same period last year. This reflects continuous efforts to contain start-up losses through the implementation of a very tight operating cost structure with a majority of cross-functional business elements outsourced to leading global service providers. Operating loss was HK$139 million normal for a start-up business.
The Group expects to speed up network rollout and reach several milestones in the second half of 2007.
Vietnam
-- Launched service in key cities with network presence in all 64
provinces
-- Customer activations exceeded 160,000
-- Focused strategies including expansion of retail network and offering
more handset choices
During the first half of 2007, the Group launched its Vietnam operations with network presence in all 64 provinces and using the specially designed brand 'HT Mobile'. We offer high-speed multimedia mobile voice and data services and attractive and flexible calling plans, making us well positioned to meet demand from young and technology-savvy Vietnamese customers.
Initial challenges such as insufficient retail outlets and limited handset choices have resulted in lower-than-expected customer activations in the first few months of launch. Management is focusing on expanding the distribution network with more company-owned outlets and has started to broaden the choice of handsets from leading manufacturers that are better aligned to the needs of the market.
LBITDA was HK$98 million as a result of normal start-up losses, while operating loss was HK$114 million.
Competition intensified in Vietnam in the first half, with rapid mobile network expansions and marketing initiatives that cut into margins so the Group has decided to accelerate expansion of coverage in Vietnam. As a result, the guidance on capital expenditure for 2007 has been revised to HK$1,500 million from HK$1,000 million for the full year.
Hong Kong and Macau
Combined turnover from the Group's fixed-line and mobile businesses in Hong Kong and Macau was HK$3,521 million in the first six months of 2007, compared to HK$3,138 million for the same period last year. EBITDA was HK$1,238 million in the first half of 2007 with EBITDA margin of 35.2%.
Hong Kong and Macau mobile
-- Hong Kong mobile continued to lead the 3G market in customer net
additions and service innovation
-- Customer base was 2.2 million
-- Turnover rose 18% year-on-year to HK$2,322 million
-- EBITDA surged 21% to HK$772 million and EBITDA margin further
improved to 33.2%
Despite intense competition during the period, the Group's Hong Kong mobile business maintained its market leadership in 3G with a customer base of 878,000. This represented 3G market share over 50% based on Hong Kong's Office of the Telecommunications Authority (OFTA).
The 3G customer base has now grown to about 40% of the total while its contribution to service revenue has exceeded 50%. During the period we successfully launched several mobile internet applications, resulting in encouraging sign-ups in mobile data monthly service plans.
Blended postpaid ARPU saw an improvement of 5% to HK$214 year-on-year, the highest level for over two years. The effort to migrate postpaid customers from basic voice to 3G multimedia services has changed the mix of the 2G and 3G customer base, which in the long-term minimises exposure to the impact of declining ARPU in basic voice services.
The continued growth in 3G postpaid customers and its ARPU contributed to drive turnover up 18% to HK$2,322 million. EBITDA margin continued to improve to 33.2%.
Operating profit increased to HK$234 million compared with HK$71 million in the same period last year.
Macau mobile operations continued to register healthy growth in its customer base and positive take-up of mobile data service. This paves for the way for the launch of 3G service in the second half of 2007.
Hong Kong fixed-line
-- Turnover was up to HK$1,199 million -- 12% like-for-like growth
-- EBITDA increased to HK$466 million with EBITDA margin continuing to
improve to 38.9%
The Group's fixed-line operations delivered improved results in a challenging market. Turnover, EBITDA and EBITDA margin all maintained their upward trend, and new initiatives were well received by the market.
We saw particularly good growth in the international bandwidth wholesale business in the first half of 2007, partly due to an increase in traffic from other operators through our network following last year's the earthquake in Taiwan.
We have a comprehensive fibre-to-the-building network in Hong Kong, which favourably positions us to offer citywide high-speed and bandwidth-demanding network-based applications to corporate and business customers. We saw an encouraging increase in this business which contributed to revenue growth.
In the residential market, ARPU improved in broadband and IDD services amidst intense competition. During the period we continued to upgrade broadband access speeds to up to 100Mbps, catering to individual and home users with more and more bandwidth-demanding applications.
After reclassifications, like-for-like revenue was 12% higher at HK$1.2 billion, resulting in an improved EBITDA of HK$466 million and an EBITDA margin of 38.9%. Operating profit for the period was HK$151 million, an increase of 17.01% year-on-year.
Israel
-- Turnover increased 19% to HK$5,420 million
-- EBITDA rose 19% to HK$1,789 million with EBITDA margin maintained at
33.0%
-- Customer base over 2.7 million
Partner Communications Company Ltd. ("Partner") reported another set of excellent results. The strong growth in turnover reflected not only the growth in customer base but also the quality of our base. In the second quarter, the number of 3G customers grew 19% compared with the previous quarter and reached almost 400,000, accounting for 15% of the customer base.
Higher usage, increase in content and data revenues and customer growth, together with the appreciation of the New Israeli Shekel against the Hong Kong dollar contributed to the higher reported turnover in Hong Kong dollar terms.
As a result of the stronger operating performance, operating profit increased 30% year-on-year to HK$1,014 million.
Thailand
-- Customer base of 796,000
-- Turnover of HK$495 million
-- EBITDA at HK$32 million
-- External debt reduced to lower interest cost
Against a challenging operating environment, the Group's Thailand business reported a set of mixed results that are in line with industry trends. During the period we made gains in the customer base, but mainly in the prepaid segment, which has lower ARPU than post-paid service. This had an impact on turnover. In addition, the market continued to be extremely competitive with aggressive promotions such as free-of-charge SIMs and very low commitment plans.
EBITDA was affected despite continued improvement in operating costs. Capital expenditure in the first six months of 2007 was HK$17 million, which enabled us to achieve the important milestone of having EBITDA cover capex.
Operating loss was HK$273 million, a slight increase from HK$229 million for the same period last year.
During the period, the Group took action to better align the capital structure of the business with operational needs which reduced interest payments. By 30 June 2007, we had repaid HK$5,410 million of external debt, replacing it with shareholder loans. The Group intends to repay the remaining external debt in the second half of 2007.
Sri Lanka
-- Robust growth in Sri Lanka's customer base of 105% year-on-year to
819,000
-- Turnover increased 59% year-on-year to HK$86 million
-- Record EBITDA growth doubled last year to HK$46 million with EBITDA
margin of 54%
The Group's Sri Lanka mobile operations, Hutchison Telecom Lanka (Private) Limited ("Hutchison Telecom Lanka"), delivered robust performance both in terms of customer growth, market share and profitability during the first six months of 2007. Operating profit contributed by Hutchison Telecom Lanka was HK$31million, representing a 107% increase year-on-year. Hutchison Telecom Lanka intends to capture the market's potential by speeding up the GSM network rollout in other parts of the country during the second half of 2007. This is expected to further fuel strong growth.
Outlook
We have seen a good performance from our core businesses in the first half of 2007 and this trend should continue into the second half of 2007.
Whilst the economies in which we operate continue to remain strong, there are signs in the global economy of more difficult times ahead. If this challenge emerges, the Group is now well capitalised with HK$40 billion cash resources and exceptionally well positioned to take advantage of any opportunities that may arise. We have reiterated that we intend to use this capital to continue our strategy, building on our track record, to seek opportunities in dynamic telecoms markets that we believe can create long-term value for our shareholders.
Our immediate attention, however, remains focused on Indonesia and Vietnam where we are looking at opportunities in both markets to accelerate our network rollout. As a result we have increased the Group capital expenditure guidance to between HK$6.5 billion and HK$7.5 billion in 2007.
Notes to editors:
About Hutchison Telecommunications International Limited
Hutchison Telecommunications International Limited ('Hutchison Telecom' or 'the Group') is a leading global provider of telecommunications services. The Group currently offers mobile and fixed-line telecommunication services in Hong Kong, and operates mobile telecommunications services in Macau, Israel, Indonesia, Vietnam, Sri Lanka, Ghana and Thailand. It was the first provider of 3G mobile services in Hong Kong and Israel and operates brands including "Hutch", "3" and "Orange".
Hutchison Telecom is a listed company with American Depositary Shares quoted on the New York Stock Exchange under the ticker HTX and shares listed on the Stock Exchange of Hong Kong under the stock code 2332. A subsidiary of the Hong Kong-based Hutchison Whampoa Group, Hutchison Telecom is dedicated to providing superior telecommunications services in dynamic markets. For more information about Hutchison Telecom, see http://www.htil.com.
Disclaimer:
Non-GAAP Measures
While non-GAAP (generally accepted accounting principles) measures such as EBITDA and LBITDA are often used by companies as an indicator of operating performance, they are not expressly permitted measures under GAAP in Hong Kong and may not be comparable to similarly titled measures for other companies. Accordingly, such non-GAAP measures should not be considered as an alternative to operating income as an indicator of the operating performance of the Group or as an alternative to cash flows from operating activities as a measure of liquidity. The use of non-GAAP measures is provided solely to enhance the overall understanding of the Group's current financial performance. Additionally because the Group has historically reported certain non-GAAP results to investors, the Group considers the inclusion of non GAAP measures provides consistency in our financial reporting.
Forward-looking statements:
This press release contains forward-looking statements. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. These statements are based on current plans, estimates and projections, and therefore you should not place undue reliance on them. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks, uncertainties and assumptions. The Company cautions you that if these risks or uncertainties ever materialise or the assumptions prove incorrect, or if a number of important factors occur or do not occur, the Company's actual results may differ materially from those expressed or implied in any forward-looking statement. Additional information as to factors that may cause actual results to differ materially from the Company's forward-looking statements can be found in the Company's filings with the United States Securities and Exchange Commission.
-- Tables to Follow --
Hutchison Telecommunications International Limited
Condensed Consolidated Income Statement
For The Six Months Ended 30 June
Unaudited Unaudited Unaudited
2006 2007 2007
HK$ millions HK$ millions US$ millions
Continuing operations:
Turnover 8,581 9,639 1,233
Cost of inventories
sold (501) (1,144) (146)
Staff costs (952) (1,001) (128)
Depreciation and
amortisation (1,904) (1,982) (254)
Other operating
expenses (4,685) (4,684) (599)
Operating profit
before disposal of
investments and
others 539 828 106
Profit / (loss) on
disposal of
investments and
others (1) 4 1
Operating profit 538 832 107
Interest income 31 628 80
Interest and other
finance costs (868) (797) (102)
Share of results of
associates (1) -- --
Profit / (loss)
before taxation (300) 663 85
Taxation (262) (322) (42)
Profit / (loss) from
continuing
operations (562) 341 43
Discontinued
operations:
Profit from
discontinued
operations 1,206 70,502 9,017
Profit for the period 644 70,843 9,060
Attributable to:
Equity holders of the
Company:
- continuing
operations (676) 57 7
- discontinued
operations 678 70,031 8,957
2 70,088 8,964
Minority interest
- continuing
operations 114 284 36
- discontinued
operations 528 471 60
642 755 96
644 70,843 9,060
Dividends -- 32,234 4,123
Earnings / (loss) per
share from continuing
operations attributable to
equity holders of the
Company:
- basic HK$(0.14) HK$0.01 US$0.00
- diluted HK$(0.14) HK$0.01 US$0.00
Earnings per share
attributable to
equity holders
of the Company:
- basic HK$0.00 HK$14.69 US$1.88
- diluted HK$0.00 HK$14.59 US$1.87
The accompanying notes are an integral part of these condensed
consolidated interim accounts.
HUTCHISON TELECOMMUNICATIONS INTERNATIONAL LIMITED
CONDENSED CONSOLIDATED BALANCE SHEET
Audited Unaudited Unaudited
As at As at As at
31 December 30 June 30 June
2006 2007 2007
HK$ millions HK$ millions US$ millions
ASSETS
Current assets
Cash and cash
equivalents 2,048 40,226 5,145
Trade and other
receivables 10,090 4,397 562
Stocks 436 452 58
Derivative financial
assets 23 13 2
Total current assets 12,597 45,088 5,767
Non-current assets
Fixed assets 31,962 17,732 2,268
Goodwill 19,571 6,053 774
Other intangible assets 10,760 8,806 1,126
Other non-current assets 3,829 3,835 491
Deferred tax assets 997 386 49
Interests in associates 2 2 --
Total non-current
assets 67,121 36,814 4,708
Total assets 79,718 81,902 10,475
LIABILITIES
Current liabilities
Trade and other payables 13,479 7,742 990
Borrowings 16,048 8,405 1,075
Current income tax
liabilities 153 24 3
Derivative financial
liabilities 185 401 52
Total current
liabilities 29,865 16,572 2,120
Non-current liabilities
Borrowings 23,369 5,197 665
Deferred tax liabilities 1,075 983 125
Other non-current
liabilities 2,992 2,574 329
Total non-current
liabilities 27,436 8,754 1,119
Total liabilities 57,301 25,326 3,239
EQUITY
Capital and reserves
attributable to equity
holders of the Company
Share capital 1,191 1,194 153
Reserves 15,468 53,054 6,786
16,659 54,248 6,939
Minority interest 5,758 2,328 297
Total equity 22,417 56,576 7,236
Total equity and
liabilities 79,718 81,902 10,475
Net current assets /
(liabilities) (17,268) 28,516 3,647
Total assets less
current liabilities 49,853 65,330 8,355
The accompanying notes are an integral part of these condensed
consolidated interim accounts.
UNAUDITED KEY PERFORMANCE INDICATORS
Customer Base Q2 2007 Q1 2007
30 June 2007 31 March 2007
Total Postpaid Prepaid Total Postpaid Prepaid
Country ('000) ('000) ('000) ('000) ('000) ('000)
Hong Kong
(incl Macau) 2239 1590 649 2199 1557 642
Israel 2733 1952 781 2703 1920 783
Thailand 796 317 479 747 306 441
Sri Lanka 819 -- 819 685 -- 685
Ghana 237 -- 237 218 -- 218
Total 6824 -- -- 6552 -- --
Customer Base Q4 2006 Q3 2006
31 December 2006 30 September 2006
Total Postpaid Prepaid Total Postpaid Prepaid
Country ('000) ('000) ('000) ('000) ('000) ('000)
Hong Kong
(incl Macau) 2139 1513 626 2088 1475 613
Israel 2669 1888 781 2626 1854 772
Thailand 728 311 417 737 318 419
Sri Lanka 559 -- 559 488 -- 488
Ghana 200 -- 200 173 -- 173
Total 6295 -- -- 6112 -- --
Customer Base Q2 2006
30 June 2006
Total Postpaid Prepaid
Country ('000) ('000) ('000)
Hong Kong
(incl Macau) 2065 1431 634
Israel 2585 1817 768
Thailand 738 329 409
Sri Lanka 400 -- 400
Ghana 137 -- 137
Total 5925 -- --
Notes:
(1) A customer is defined as a Postpaid Customer or a Prepaid Customer
who has a Subscriber Identity Module (SIM) or Universal Subscriber
Identity Module (USIM)
that has access to the network for any purpose, including voice,
data or video services.
(2) Postpaid Customers are defined as those whose mobile
telecommunications service usage is paid in arrears upon receipt of
the mobile telecommunications operator's invoice
and who have not been temporarily or permanently suspended from
service.
(3) Prepaid Customers are defined as customers with prepaid SIM cards
or prepaid USIM cards that have been activated but not been used up
or expired at period end.
A new prepaid customer is recognised upon making the first call or
registration/activation.
(4) All numbers quoted on the basis of the total customer base of the
operation irrespective of the Company's ownership percentage.
(5) All numbers quoted as at last day of the quarter.
(6) The data for Hong Kong and Israel relate to both 2G and 3G
services.
ARPU(1) Q2 2007 Q1 2007
30 June 2007 31 March 2007
Country Currency Blended Postpaid Prepaid Blended Postpaid Prepaid
Hong Kong
(incl Macau) HKD 160 214 27 152 204 27
Israel NIS 157 -- -- 153 -- --
Thailand THB 463 843 200 501 893 220
Sri Lanka LKR 311 -- 311 337 -- 337
Ghana GHC('000) 77 -- 77 83 -- 83
ARPU(1) Q4 2006 Q3 2006
31 December 2006 30 September 2006
Country Currency Blended Postpaid Prepaid Blended Postpaid Prepaid
Hong Kong
(incl Macau) HKD 156 208 29 151 204 28
Israel NIS 159 -- -- 164 -- --
Thailand THB 538 913 252 545 923 251
Sri Lanka LKR 341 -- 341 373 -- 373
Ghana GHC('000) 92 -- 92 92 -- 92
ARPU(1) Q2 2006
30 June 2006
Country Currency Blended Postpaid Prepaid
Hong Kong
(incl Macau) HKD 152 206 28
Israel NIS 158 -- --
Thailand THB 582 961 265
Sri Lanka LKR 402 -- 402
Ghana GHC('000) 101 -- 101
Notes:
(1) The monthly Average Revenue Per User (ARPU) is calculated as the
total Service Revenues for the month divided by the simple average
number of activated customers for the month.
The monthly ARPU for the quarter represents the average of the
monthly ARPU in the quarter.
(2) Service Revenues are defined as the direct recurring service revenues
plus roaming revenues.
(3) The data for Hong Kong and Israel relate to both 2G and 3G services.
MOU(1) Q2 2007 Q1 2007
30 June 2007 31 March 2007
Country Blended Postpaid Prepaid Blended Postpaid Prepaid
Hong Kong
(incl Macau) 490 673 47 475 653 47
Israel 331 -- -- 323 -- --
Thailand 676 1059 410 697 1039 451
Sri Lanka 113 -- 113 123 -- 123
Ghana 107 -- 107 104 -- 104
MOU(1) Q4 2006 Q3 2006
31 December 2006 30 September 2006
Country Blended Postpaid Prepaid Blended Postpaid Prepaid
Hong Kong
(incl Macau) 489 671 49 474 659 48
Israel 316 -- -- 322 -- --
Thailand 754 1050 530 731 973 543
Sri Lanka 120 -- 120 123 -- 123
Ghana 111 -- 111 113 -- 113
MOU(1) Q2 2006
30 June 2006
Country Blended Postpaid Prepaid
Hong Kong
(incl Macau) 460 643 47
Israel 307 -- --
Thailand 684 901 503
Sri Lanka 125 -- 125
Ghana 149 -- 149
Notes:
(1) The monthly Minutes of Use (MOU) is calculated as the total minutes
carried over the network (2G total airtime usage + 3G voice and
video usage, including both inbound and outbound roaming)
for the month divided by the simple average number of activated
customers for the month. The monthly MOU for the quarter represents
the average of the monthly MOU in the quarter.
(2) The data for Hong Kong and Israel relate to both 2G and 3G
services.
Churn(1) Q2 2007 Q1 2007
30 June 2007 31 March 2007
Country Blended Postpaid Prepaid Blended Postpaid Prepaid
Hong Kong
(incl Macau) 3.7% 1.7% 7.7% 4.3% 1.7% 9.2%
Israel 1.2% -- -- 1.5% -- --
Thailand 6.5% 3.9% 8.2% 6.6% 4.2% 8.2%
Sri Lanka 2.8% -- 2.8% 2.5% -- 2.5%
Ghana 3.0% -- 3.0% 2.1% -- 2.1%
Churn(1) Q4 2006 Q3 2006
31 December 2006 30 September 2006
Country Blended Postpaid Prepaid Blended Postpaid Prepaid
Hong Kong
(incl Macau) 4.7% 1.8% 10.1% 4.0% 1.8% 7.8%
Israel 1.3% -- -- 1.2% -- --
Thailand 7.0% 4.5% 9.0% 6.8% 4.9% 8.4%
Sri Lanka 2.3% -- 2.3% 2.2% -- 2.2%
Ghana 2.4% -- 2.4% 2.0% -- 2.0%
Churn(1) Q2 2006
30 June 2006
Country Blended Postpaid Prepaid
Hong Kong
(incl Macau) 3.9% 2.0% 7.3%
Israel 1.4% -- --
Thailand 6.9% 5.1% 8.5%
Sri Lanka 2.2% -- 2.2%
Ghana 1.4% -- 1.4%
Notes:
(1) The monthly churn % is calculated as the average number of
disconnections (net of reconnection and internal migration between
networks) for the month divided by
the simple average number of activated customers for the month. The
monthly churn % for the quarter represents the average of the
monthly churn rates in the quarter.
(2) The data for Hong Kong and Israel relate to both 2G and 3G
services.
The Board wishes to remind investors that the above key performance
indicators are based on the Group's unaudited internal records.
Investors are cautioned not to unduly rely on such data.
For further information, please contact:
Mickey Shiu
Work: +852-2128-3107
Mobile: +852-9092-8233
Email: mickeyshiu@htil.com.hk