Technology service provider Kinetix (08606) announced its fiscal year 2024 performance, with total revenue growing by 8.5% year-on-year to HK$335 million, gross profit margin rising to 19.8%, marking its first recovery in growth post-pandemic. It has been revealed that the deployment of artificial intelligence technology and breakthroughs in the new energy vehicle business will serve as the company’s dual engines for future growth.
According to the financial report, the company’s core business, information technology infrastructure solutions, made a significant contribution, with related revenue increasing by HK$38.9 million, driving overall gross profit growth by 12% year-on-year to HK$66.5 million. It is noted that the continuous growth of demand for digital transformation by enterprises, coupled with strict cost control, has helped restore profitability to an upward trajectory.
As for the strategic layout in 2025, Kinetix (08606) is actively positioning itself in the field of artificial intelligence. The company plans to enhance the intelligence level of its products and services by developing technologies such as machine learning, natural language processing and computer vision through its professional service team. Kinetix (08606) also aims to continuously optimize business operations, strengthen supply chain management and improve customer experience to maintain a competitive edge in the innovation sector.
Notably, the company’s new energy vehicle business has also made substantial progress. Despite fierce market competition in 2024, which slowed down its expansion, with the rebound in market demand and increased government support policies, Kinetix (08606) has secured a strategic business partner and is actively advancing the deployment of solutions such as consulting services, supply chain integration, and technology development. The company is also focusing on mergers and acquisition in this sector to further expand the development of its new energy vehicle business. This will effectively tap into the policy benefits of the Hong Kong SAR government’s “Electric Vehicle Popularization Roadmap”, opening up new opportunities in smart transportation services.
At the same time, it is important to note that the strategic partner, with its mature production lines and compliance certification system in Europe, can significantly reduce tariff barrier risks through production capacity synergies. This will provide a pathway for Chinese automobile manufacturers to build a supply chain that meets EU carbon footprint standards, accelerating the large-scale penetration of new energy products in the European market.