SIM TECH Reports February Core Business Revenue of HK$33.7 Million, Up 25.2% Year-on-Year

Stock News
Mar 10

SIM TECH (02000) announced that in February 2026, revenue from its core business amounted to HK$33.7 million, representing a month-on-month increase of 20.3% and a year-on-year growth of 25.2%. Revenue from non-core business was HK$2.9 million, up 1.1% compared to the previous month. The group's unaudited total revenue for the month was HK$36.6 million, an increase of 18.5% from January. The growth in core business shipments and revenue in February 2026 compared to January 2026 was attributed to adjustments made by the group's customers to the pickup schedules for their purchase orders. Non-core business income primarily consists of rental revenue. The non-core business revenue for February 2026 was largely consistent with the figure from January 2026. The group's unaudited revenue for the two-month period ended February 28, 2026, was HK$67.6 million, a decrease of 7.3% compared to the same period last year. This decline is attributed to significant impacts from intense competition in the automotive industry. Since January 2026, the group has adjusted its business plan and strategy and has ceased accepting new purchase orders for its automotive smart product business. Consequently, the unaudited revenue for the first two months of 2026 showed a decrease compared to the same period in the prior year.

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