News

Telecom & Internet

Staff Reporter

, Hong Kong

Published:

1 month ago

Photo by RDNE Stock project on Pexels

Comba Telecom suffers $564m net loss in FY2024

The decrease was attributed to the decline in revenue and gross profit.

Comba Telecom Systems Holdings Limited reported a net loss of $564m for the year ended 31 December 2024 (FY2024).

According to a bourse filing, the decrease was attributed to the decline in revenue and gross profit.

The group’s revenue declined by 24.3% to $4.5b, whilst its gross profit decreased by 29.6% to $1.2b. Its gross profit margin was at 25.9%, down by 1.9 percentage points.

This was due to the slowdown of capital projects on network construction plans by global operators, as well as the termination of the spin-off of Comba Network Systems Company Limited and its listing on the Science and Technology Innovation Board of the Shanghai Stock Exchange during the year.

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