Strengthens the Ecosystem of Chinese Brands
Extends Business to the Greater Bay Area
Expands in the Asia-Pacific Region
News Release – March 27, 2025
(Hong Kong, 27 March 2025) – Automated Systems Holdings Limited (“ASL” or “the Group”) (HKEX stock code: 771), a professional and trustworthy regional unified technology services partner, announced its annual results for the year ended 31st December 2024 (the “Review Year”). Total revenue of the Group’s core businesses (namely businesses in Hong Kong and the other Asia Pacific regions) recorded HK$2,373.0 million, representing a growth as compared to last year. The adjusted net profit recorded HK$87.1 million, up 9.4%.
In the Review Year, the Group recorded a profit for the year attributable to the Company’s equity holders of HK$149.3 million, an increase of 13.7% compared to last year of HK$131.3 million. The increase was primarily attributable to an increase in interest income and an improved share of results of associates as compared to last year. The Group’s basic earnings per share and diluted earnings per share were 17.91 HK Cents and 17.90 HK Cents, respectively, both increasing by 13.7%. The board of directors has resolved to recommend a final dividend of 3.0 HK cents per share for the year ended 31st December, 2024 (2023: 3.0 HK Cents per share). For the year ended 31st December 2024, the Group’s gross profit was HK$246.0 million, representing a similar result as compared to last year.
The Group maintained a healthy financial position during the year. For the year ended 31st December, 2024, the Group’s orders newly secured amounted to approximately HKD 2,540.3 million, recording a slight increase. As at 31st December 2024, the Group’s order book balance was approximately HK$1,649.8 million. The Group’s bank balances and cash, and time deposits in total stood at approximately HK$714.4 million with a working capital ratio of 1.99:1 and no outstanding borrowings.
The Group’s three businesses, namely DevSecOps, showed stable growth in service revenue compared to last year. In addition to the DevSecOps business (see description below), the Group was also involved in system integration.
In terms of the Innovative Solutions Business (Application Development — Enhance customer experience with innovative applications; Dev), the service orders newly secured in the year recorded an increase as compared to last year. The increase was mainly attributable to the higher number of orders for application development and IT outsourcing services. During the year, its service revenue recorded HK$521.7 million. For sector performance, the Group focused on providing sector-focus solutions to public sector and commercial customers, leveraging technologies such as big data, analytical tools, and DevOps to drive digital transformation. It received numerous orders in the government and healthcare sectors, including the development of a medical consultation system benefiting all Hong Kong citizens, as well as a benchmark all-Chinese-brand technology project from a disciplined force. These achievements further demonstrate the Group’s expertise in the integration of Information Technology Application Innovation (“ITAI”) products.
In regard to Intelligent Cybersecurity Services Business (Cybersecurity — Protect your assets with intelligent security technology; Sec), the volume of service orders newly secured remained stable and the service revenue amounted to HK$213.5 million, principally due to the demand for threat detection, risk response, and security managed services. For sector performance, the business growth was primarily driven by the government’s demand for 7×24 network security monitoring services and the significant growth of the Security Operations Center (SOC) business. Additionally, the Group renewed contracts with a number of key customers in the retail, transportation, financial, and professional services sectors, further solidifying its market position. Meanwhile, the SOC in Guangzhou obtained the Level 3 certification of Information System Security Level Protection issued by the Ministry of Public Security of the People’s Republic of China, demonstrating that the Group has met the highest security management standards for non-banking organizations, and has completed the hardware and intelligent deployment of SOC services in the Greater Bay Area.
In respect of Integrated Managed Services Business (Omni-channel Managed Services — Simplify your IT operations to increase efficiency; Ops), the business in the Review Year continued to receive numerous service orders newly secured, supported by the market demand for IT Service Management (ITSM) projects, DevSecOps, and managed services. The service revenue amounted to HK$477.2 million. For sector performance, the Group successfully secured a large managed service project from a financial institution and demonstrated outstanding performance in the aviation sector. Additionally, the Group’s managed services received high recognition from customers for service level agreements, with the scope of services expanding from basic maintenance to complex ITSM projects. In the second half of 2024, the Group set up an offshore development center in Zhuhai, aiming to provide service coverage in the Greater Bay Area, enhance cost efficiency, technical capabilities, and operational resilience.
In deepening technical capabilities, the Group has been actively responding to the demand for ITAI technologies in the private and public sectors by introducing Chinese brands for product testing, expanding the ecosystem of Chinese brands to precisely meet the needs of the Hong Kong market, and further enhancing the “Center of Excellence” established in mid-2024 in the area of artificial intelligence. The Group also collaborated with Kylinsoft to establish an innovative testing center and partnered with SenseTime Group Inc., a leading company in artificial intelligence (“AI”) technology, to jointly explore business opportunities.
The Group focused on sectors, extended its reach across the Greater Bay Area, and expanded in the Asia-Pacific region. During the year, the Group actively participated in various industry events to further enhance its brand image in target markets, particularly in the government, healthcare, and financial sectors, sharing technological trends and bringing the latest innovative applications to customers. Moreover, in September 2024, the Group established its fourth Offshore Development Center (ODC) in the Greater Bay Area on the west bank of the Pearl River Estuary. The center provides remote, omni-channel 7×24 managed services and is equipped with the latest AI technology. Furthermore, the Group established an office in the United Kingdom in the fourth quarter of 2024 to accelerate expansion in the Asia Pacific region.
As for the business of associates, GDH achieved a record-high annual revenue in 2024, marking a historic milestone for the company, GDH reported a total revenue of US$350.6 million (equivalent to approximately HK$2,721.7 million), an increase of 12.0%. One of the major associates in Asia Pacific, i-Sprint Holdings Limited and its subsidiaries (collectively ‘i-Sprint’), achieved double-digit growth in revenue growing to approximately HK$145.8 million.
Looking ahead, the Group will continue to strengthen our technology integration capabilities and expand the ecosystem of Chinese brands. To this end, we established an industry-leading Center of Excellence in 2024 and successfully built a strong technology collaboration network comprising over 70 international and more than 30 ITAI IT vendors, providing diversified technology solutions and jointly advancing the development of Smart Hong Kong. As a leading unified technology services partner in the region, the Group is optimizing its operating system in three dimensions, namely, technical capabilities, industry breakthroughs, and regional expansion, continuously enhancing DevSecOps integration and delivery capabilities, and expanding the talent pool in the Greater Bay Area. At the same time, the Group plans to expand its business in Southeast Asia and has established offices in Malaysia and Australia in 2025. Additionally, we have set up cross-regional, full-stack government and healthcare industry business groups and enhanced our service capabilities areas such as in banking, finance and insurance to meet market demands. With the rise of the AI system – DeepSeek and its global impact, the Group will accelerate the application of innovative technologies such as AI, working hand in hand with customers for advancement. Together, we are Unified for Success!
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