Computime Group Achieves Remarkable Financial Growth in 2024

Computime Group Limited, a leading technology, brand, and manufacturing company specializing in smart and sustainable living solutions, recently disclosed its financial performance for the fiscal year ending on March 31, 2024.

Despite a slight 4.0% decline in revenue to HK$4,037.8 million, Computime achieved a notable improvement in its gross profit margin, reaching 15.6%. This enhancement was primarily attributed to operational efficiencies and favorable exchange rates. The company's profit before tax soared by an impressive 242.7% to HK$107.6 million, resulting in a post-tax profit of HK$83.9 million, which is three times higher than the previous year. Additionally, the adjusted EBITDA rose to HK$333.9 million, marking a 13.2% increase from the previous fiscal year.

As of March 31, 2024, Computime maintained cash and bank balances of HK$226.7 million, with a net cash position of HK$90.3 million. The inventory balance decreased by 15.0% to HK$824.0 million, indicating enhanced operational efficiency within the company.

While the Control Solutions segment experienced a slight revenue decline of 1.8% due to market challenges, it managed to improve its profit margins. On the other hand, the Branded Business segment reported a 19.0% decrease in revenue but is actively pursuing strategic growth initiatives.

Computime's expansion into Eastern Europe involves the introduction of new product platforms such as Electric Vehicle chargers, home battery storage solutions, AI-driven climate control systems, and security services. The company's global team of 200 engineers is dedicated to driving innovation across various centers of excellence worldwide, focusing on AI and sustainability to enhance energy and water management efficiency.

Amid the ongoing COVID-19 pandemic, Computime has adopted a region-to-region model to strengthen its supply chain resilience. The company foresees an uptick in demand for 2024 and is implementing financial strategies to bolster profitability. With a core commitment to smart and sustainable living technologies, Computime is prioritizing interoperability and user experience through Matter standards.

In a statement, Chairman and CEO of Computime Group, Mr. Bernard AUYANG, reiterated the company's dedication to innovation and sustainability, with a vision to empower global communities towards a more connected and environmentally conscious future.

Computime Group Limited's fiscal year 2024 results showcase a resilient performance amidst challenging market conditions. The company's strategic focus on innovation, sustainability, and expansion into new markets positions it well for future growth and success in the technology sector.