Business
PROFIT ALERT: OnTime (09680.HK) Expects 2025 Revenue to Surge Over 100%, Profit to Rise at Least 43%
On March 3, Hong Kong-listed company OnTime (09680.HK) issued its first positive profit alert since listing, forecasting year-on-year profit growth of no less than 43.4% for fiscal year 2025. The company expects consolidated revenue to reach at least RMB 5.0 billion, representing a substantial year-on-year increase of no less than 100%.
About this update from Chenqi Technology Ltd.
[{"type":"text","content":"HONG KONG and GUANGZHOU and SHENZHEN, China, March 4, 2026 /PRNewswire/ -- On March 3, Hong Kong-listed company OnTime (09680.HK) issued its first positive profit alert since listing, forecasting year-on-year profit growth of no less than 43.4% for fiscal year 2025. The company expects consolidated revenue to reach at least RMB 5.0 billion, representing a substantial year-on-year increase of no less than 100%.","length":418,"tagName":"p"},{"type":"text","content":"The strong revenue performance is primarily driven by a significant rise in ride-hailing order volumes, along with growth in technology services revenue following intensified sales and marketing in that segment. The improvement in profitability was largely driven by sustained gross profit growth resulting from improved operational efficiency and an optimized cost structure in the company's ride-hailing business. Additional contributions came from higher technology services volumes. In addition, the company projects a year-on-year reduction in both administrative expenses and finance costs for the year.","length":613,"tagName":"p"},{"type":"text","content":"This marks OnTime's first profit forecast since its IPO on the Hong Kong Exchanges and Clearing Limited (HKEX) in July 2024. Market observers noted that the results indicate the company is progressing toward the profitability objectives outlined in its prospectus, including expanding business scale, driving revenue growth, and improving gross margin. The pace of improvement has exceeded market expectations.","length":414,"tagName":"p"},{"type":"text","content":"Mobility and Technology Businesses Drive Dual-Engine Growth","length":59,"tagName":"p"},{"type":"text","content":"Throughout 2025, OnTime recorded rapid revenue expansion, with particularly strong momentum in the second half of the year. Revenue for the first half of 2025 stood at RMB 1.676 billion. Based on the lower end of the estimate in this profit alert, revenue for the second half is expected to reach at least RMB 3.323 billion. This would represent roughly double the first-half figure and a 233% increase compared with the same period in 2024.","length":441,"tagName":"p"},{"type":"text","content":"According to the announcement, the revenue breakthrough was driven by growth across both of OnTime's core business segments: mobility services...