Sunevision Holdings Ltd. · HKEX:1686
Sunevision — 1H25/26 Earnings Presentation
22 slides from Sunevision's earnings presentation, February 2026
Slide 1: 1H25/26 Results Presentation
1H25/26 RESULTS PRESENTATION (HKSE: 1686) February 2026
Slide 2: Disclaimer
DISCLAIMER The information contained in these materials is intended for reference and general information purposes only. Neither the information nor any opinion contained in these materials constitutes an offer or advice, or a solicitation, recommendation or suggestion by SUNEVISION Holdings Limited
Slide 3: Agenda
AGENDA •Financial Review •Business Review •Outlook 3
Slide 4: Financial Overview
FINANCIAL OVERVIEW Noel Lok Chief Financial Officer
Slide 5: Delivering Record Performance Across All Key Metrics
DELIVERING RECORD PERFORMANCE ACROSS ALL KEY METRICS • Recurring revenue from data centre and IT facilities grew by 7% YoY, with total revenue increased 3% YoY to HK$1,508mn • EBITDA grew a 4% YoY to HK$1,096mn, with margins expanding from 72% to 73% • Net profit increased 10% YoY to HK$531mn, bolst
Slide 6: Scaling High-Quality Recurring Revenue
SCALING HIGH-QUALITY RECURRING REVENUE Recurring revenue grew by 7% YoY, as high-quality recurring gains from major move-ins and positive reversions successfully absorbed the normalisation of one-off project income Revenue Designed IT Capacity up to 280MW 2 ~80MW ~87MW ~91MW ~101MW ~103MW ~104MW ~10
Slide 7: Revenue Growth Driven by New Site Ramp-up and Organic Momentum
REVENUE GROWTH DRIVEN BY NEW SITE RAMP-UP AND ORGANIC MOMENTUM Strong uptake in new sites1 contributed to top-line expansion, complemented by capacity growth and positive rental reversions across the established sites2 Revenue Mix3 (HK$mn) Recurring revenue increased 7% to Recurring revenue from n
Slide 8: Delivering Robust EBITDA and Profit Growth
DELIVERING ROBUST EBITDA AND PROFIT GROWTH EBITDA up 4% YoY to HK$1,096mn, with margins widening to 73%. NPAT up 10% YoY to HK$531mn, boosted by strong operational performance and lower finance costs EBITDA1 and EBITDA Margin NPAT and NPAT Margin (HK$mn) (HK$mn) 72% 72% 73% Lower borrowing costs led
Slide 9: Maximising Cash Conversion & Capital Discipline
MAXIMISING CASH CONVERSION & CAPITAL DISCIPLINE Robust 5% YoY growth in operating cash flow paired with a disciplined, demand-linked CAPEX glide path to optimise returns Operating Cash Flows1 Net Cash used in Investing Activities 1H (HK$mn) IT Load Capacity in Place (MW) GFA (k.sq.ft.) 2H (HK$mn) 2,
Slide 10: Enhanced Financial Flexibility
ENHANCED FINANCIAL FLEXIBILITY Strategic alignment of investment to demand, paired with falling rate tailwinds, unlocks superior capacity for both growth and balance sheet optimisation Total Debt Effective borrowing cost (HK$mn) (HK$mn) A 16,500 16,900 17,200 5.2% 4.9% 1 13,610 700 3.7% 3,800 5,000
Slide 11: Business Overview
BUSINESS OVERVIEW Helen Lo Director, Commercial
Slide 12: Business Update
BUSINESS UPDATE • Steady growth driven by organic expansion and positive rental reversions across the Group’s various data centres. – Successfully upgraded power capacities for incumbent clients within their existing footprint – Steady price increments across all data centres reflects our premium po
Slide 13: Customer Feedback Confirmed Rapid Development in Inferencing and Robust Demand from China
CUSTOMER FEEDBACK CONFIRMED RAPID DEVELOPMENT IN INFERENCING AND ROBUST DEMAND FROM CHINA 1 From centralised training to distributed, 2 Chinese AI applications going global, catalysing inference-heavy AI international DC demand for AI-optimised cloud • A swift increase in investment towards regional
Slide 14: Solving the APAC Capacity Crunch: The MEGA IDC Advantage
SOLVING THE APAC CAPACITY CRUNCH: THE MEGA IDC ADVANTAGE While Tier 1 regional hubs hit record-high occupancy, MEGA IDC provides the unique, 180MW+ scale necessary to anchor the next generation of AI inference Surging AI demand drives occupancy rates up across primary regional clusters1 • Regional G
Slide 15: Premium Positioning: Driving Industry-Leading Unit Economics
PREMIUM POSITIONING: DRIVING INDUSTRY-LEADING UNIT ECONOMICS Capitalising on the acute scarcity of AI-ready capacity to deliver superior rental yields and industry-leading EBITDA margins through operational excellence and velocity Revenue economics among EBITDA economics among global peers global pe
Slide 16: 1H25/26: Sustained Performance Across the AI & Cloud Ecosystem
1H25/26: SUSTAINED PERFORMANCE ACROSS THE AI & CLOUD ECOSYSTEM 1H25/26 Business Mix YoY Growth Looking forward • MEGA-i is the prime connectivity hub for both domestic and international traffic. The new subsea cables such as ADC and SJC2 are driving more Connectivity cross connects and new telco log
Slide 17: Well-Balanced Portfolio
WELL-BALANCED PORTFOLIO A diversified customer portfolio enhances SUNeVision’s resilience and operational stability, as each segment navigates distinct economic cycles — ensuring balanced performance across market conditions Customer Mix1 Top Customers’ Revenue Contribution for 1H25/26 Largest Enter
Slide 18: Sustainability Updates & Highlights
SUSTAINABILITY UPDATES & HIGHLIGHTS Updates in 1H25/26 Other ESG Highlights • Took a significant step towards the 2050 carbon neutrality goal by entering into a six-year agreement with CLP Power to procure site-specific Renewable Energy Certificates (RECs) • Received “Renewable Energy Contribution A
Slide 19: Outlook
OUTLOOK Allen Fung Vice Chairman & Executive Director
Slide 20: Outlook
OUTLOOK • AI Inference Inflection: Hong Kong is now a verified critical hub for AI Inference. We are seeing concrete demand materialising for high-density power and low-latency cooling, particularly within our flagship MEGA IDC • Mandate Momentum & Discipline: Active, advanced discussions for large-
Slide 21: Q&A
Q&A
Slide 22: Thank You
THANK YOU mle,