Payment processing solutions company Hi Sun Technology (China) Limited saw a nearly 3.5 times increase in profits for the first half of the year, as announced on the Hong Kong Stock Exchange.
The group - which operates in five main segments including finance, telecoms, payment platforms, payment processing and electronic power meters - made a total of HK$120.1 million (US$15.49 million/MOP123.7 million) during the six months ended June 30, additionally seeing a 41 per cent year-on-year increase in consolidated turnover during the period to reach HK$675.5 million.
The group operates domiciles in Macau and Hong Kong as well as Mainland China and Japan.
The group’s primary activity - its payment processing segment - attracted over one million accumulated domestic merchants during the six month period, with monthly transactions in June exceeding RMB60 billion (US$9 billion/MOP72.17 billion). Profit from the segment saw a 160 per cent increase, amounting to HK$61.8 million in the first half of 2016, compared to a HK$9.5 million loss in the same period last year. The group explained the increase as ‘mainly due to improved margin with increased scale of transaction operations,’ notes the filing.
The group’s other segments saw turnover increases and decreases, with the financial segment and the combined segment of telecom and payment platform solutions both seeing a fall during the period of 5 per cent and 32 per cent, respectively. The electronic power meters saw a 13 per cent increase in turnover during the period, generating a HK$5.5 million loss.
