Business
PAX Global Technology : Announces 2024 Annual Results
PAX Global Technology : Announces 2024 Annual
About this update from Pax Global Technology Limited
[{"type":"text","content":"Final dividend up for fifth consecutive year\n PAX Global Technology Limited (\"PAX\" or the \"Group\", HKSE stock code: 00327.HK), one of the world's leading providers of electronic payment terminal (\"E-payment terminal\") solutions and related services, is pleased to announce the audited annual results for the year ended 31 December 2024.\n \n \n \n In 2024, the global economy maintained a slow recovery phase, with high interest rates and a strong U.S. dollar resulting in more cautious payment terminal deployments among international clients. With its long-term strategic vision, PAX proactively navigated market dynamics by driving payment technology innovation through Android smart payment terminals and Software as a Service (\"SaaS\") solutions. While strengthening our global business footprint, PAX has adhered to implementing U.S. dollar settlement strategy to overseas businesses, effectively mitigated foreign exchange risks and strengthened the Group's risk management capabilities. Moreover, PAX reinforced its financial resilience through stringent credit management strategy and shipment optimization.\n \n \n \n During the year, the Group recorded revenue of HK$6,044.9 million and profit for the year of HK$720.9 million, with net profit margin of 11.9%. Net cash generated from operating activities reached HK$1,162.7 million, reflecting our strong cash flow generation capability even amidst global market challenges. The Board has recommended to declare a final dividend of HK$0.25 per ordinary share for the year ended 31 December 2024.\n Mr. Jack LU, Chief Executive Officer of PAX, commented, \"As cashless payments gradually become the global commercial standard, PAX is dedicated to continuous innovation, precisely addressing market needs and delivering smarter, more efficient and high-quality payment solutions to clients worldwide. The Group continues to strengthen its footprint in key markets, focusing on value creation along the payment chain and collaborating with partners to capitalize on emerging business opportunities.\"\n Commencement of PAX Smart Terminals Industrial Park and the new headquarters building\n As the world's leading electronic payment terminal enterprise, PAX is steadfast in its commitment to investing in the future, driving long-term business development. During the year, the Group achieved a major mi...