(Hong Kong, China, 21 October 2015) PAX Global Technology Limited (HKSE stock code: 00327.HK), one of the world’s leading Electronic Funds Transfer Point-of-Sale Terminal (“E-payment Terminal”) Solutions Providers, published unaudited consolidated revenue for the 9 months ending 30 September 2015 (the “Period”).
Group revenues increased by 37% to HK$2,030.5 million for the Period, compared to HK$1,482.8 million for the corresponding Period in 2014.
Mr. Jack Lu, Chief Executive Officer of PAX, commented: “The PAX brand continues to go from strength to strength thanks to the superior quality of our payment terminals and our technology platform.” He concluded: “We will continue to implement our strategic roadmap to become one of the dominant global player, with our focus always that of adding value for end customers, channel partners and shareholders. We will continue to explore the overseas markets win both emerging and mature markets to build multiple home based markets for PAX.”
During the Period, PAX revenue from overseas markets were up by 52% to HK$1,028.3 million, compared to HK$677.6 million in the first 9 months of 2014. Revenue contribution from Europe, Middle East and Africa region continued to be strong and significant. Latin America and Commonwealth Independent States business units recorded notable growth as a result of the strong demand for the mobile point-of-sale in Brazilian market. In addition, revenue from the United States of America and Canada business units grew remarkably, as over 6 million payment terminals in the USA need to be upgraded over the next couple of years to meet EMV standards. They will become the new focal points for future growth. Overseas markets contributed overall to approximately 51% of the total turnover for the Period as compared to 46% for the prior period in 2014.
During the Period, revenue from People’s Republic of China (excluding Hong Kong, Macau and Taiwan) (“China Market”) increased by 24% to HK$1,002.2 million (CQ3 2014: HK$805.2 million). The growth in the China Market was regained through all sales channels especially the third party payment providers sector during the third quarter of 2015. China Market turnover contributed to approximately 49% of the total turnover for the Period as compared to 54% for the prior period in 2014.
About PAX (www.pax.com.cn)
PAX Technology is an innovative global provider of electronic payment solutions, offering world-class, cost-effective and superior quality products. Building on its service excellence and proven leadership position, PAX is one of the fastest growing payment industry suppliers with state-of-the-art manufacturing facilities, excellent R&D capabilities and a worldwide network of sales and channel partners. PAX is listed on the Hong Kong stock exchange as PAX Global Technology Ltd. (0327.HK).