(28 February 2023 – Hong Kong) ─ Comba Telecom Systems Holdings Limited (“Comba Telecom” or “the Group”, SEHK stock code: 2342, SGX stock code: STC), a global-leading solutions and services provider of wireless and information communications systems, is pleased to announce for the year ended 31 December 2022 (the “Current Year”), the Group expects to return to profitability.
Based on the Group’s preliminary assessment of the unaudited consolidated management accounts for the Current Year, Comba Telecom is anticipated to record a profit of before tax of not less than HK$280 million, as compared to a loss before tax of approximately HK$660 million for the year ended 31 December 2021 (the “Previous Year”). It is also expected to record a profit attributable to owners of the Group’s parent company of not less than HK$180 million for the Current Year, as compared to a loss attributable to owners of the Group’s parent company of approximately HK$590 million for the Previous Year.
Mr. Tony TL Fok, Chairman of Comba Telecom said, “The Company and its subsidiaries achieved commercial growth as a result of the continuous expansion of the building of global 5G networks, both domestic and international orders for base station antenna products resumed in the second half of 2021 as compared with the same period of last year, making a significant rebound in sales and gross profit of base station antenna products for the whole year. In addition, the operating expenses ratio decreased, as a result of the Group’s proactive efforts to improve overall efficiency and effectiveness, and implement effective cost and expenses control measures.”
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About Comba Telecom Systems Holdings Limited
Comba Telecom is a leading global solutions and services provider of wireless and information communications systems with its own R&D and manufacturing base, and sales and service teams. The Company offers a comprehensive suite of products and services including base station antennas and subsystems, wireless access, wireless enhancement, and wireless transmission to its global customers. Headquartered in Hong Kong, with manufacturing bases in China and R&D centers in both China and the United States, Comba Telecom provides wireless communication solutions and information application services to customers in more than 100 countries and regions around the world. The Company has also listed on the Main Board of the Singapore Exchange Securities Trading Limited on 4 January 2023. For further information, please visit: www.comba-telecom.com.
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Joanne Chan / Fish Lam
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