openPR Logo
Press release

PAX Global Technology Announces 2018 Interim Financial Results - International sales surge 45% as strong global presence drives exceptional growth

PAX Global Technology Limited (“PAX” or the “Company” or the “Group”, HKSE stock code: 00327.HK), one of the world’s leading providers of electronic payment terminal solutions and related services, is pleased to announce the unaudited interim financial results for the six months ended 30th June 2018 (the “Period”).

PAX has consistently expanded its international footprint in recent years and the Group’s international markets (i.e. outside of China) accounted for 84.8% of total turnover during the first half of 2018, with sales revenue from international markets increasing by 46.4% to HK$1,591.2 million (1H2017: HK$1,087.0 million), with particularly impressive performance coming from the EMEA, LACIS, and APAC regions.

EMEA

PAX maintained steady growth momentum in Europe, the Middle East and Africa. More acquiring banks, payment service providers and retail groups switched to use PAX’s innovative solutions, with particular interest growing for the innovative A-series series, a family of state-of-the-art Android payment terminals. The growing demand for PAX's Linux platform payment terminals was enhanced by increasing popularity among merchants for MiniPOS devices, standalone compact ‘paperless’ terminals. In particular, large volume orders were placed for MiniPOS deployment in Poland where the government launched a ‘cashless’ initiative earlier this year. In the Middle East, PAX maintained a leading position and in Africa growing market share was recorded where a shift is taking place towards usage of higher performing Android and MiniPOS terminals. The Group’s PAXSTORE software solution, a combination of an open platform appstore marketplace with an advanced terminal management system, has been successfully piloting in more than 25 countries worldwide, most of which are within the EMEA region.

LACIS

In Latin America and the CIS (Confederation of Independent States) region, strong demand continued for all PAX terminal models, with strong sales recorded yet again in Brazil, where our wide distribution network further strengthened market penetration. During the 2018 FIFA World Cup in Russia, PAX’s mobile terminals enabled thousands of football fans to conduct cashless transactions at stadium locations. PAX also began deploying the E-series family of new generation electronic cash register products, in Russia as well as many other countries.

USCA

In the United States and Canada, stable orders continued to be taken for the E-series products which were launched in late 2017. During the first half of 2018, PAX was engaged in ongoing business negotiations with prospective new customers, and substantial orders are expected to materialise during the second half of this year.

APAC

In the Asia Pacific region, the newly formed subsidiary in Japan is developing a country-wide sales network, with the first orders having being won during the first half of this year. PAX expects the Japanese market to become an important one in the APAC region. Following the acquisition of Kwang Woo Information & Communication Co., Ltd., a Korean payment terminal provider, the Group leveraged its extensive sales network to tap into the Korean market, with plans now well underway to accelerate product integration and grow our local market share. Across most APAC countries, demand for PAX's new-generation Android smart terminals continues to grow.

China

Shipments of PAX terminals in China demonstrated an upward trend in the first half of this year, where fast moving market changes are creating new opportunities for the Chinese payment terminal industry in general, and where competition is also intensifying. Riding on the trend of mobile payments using Quick Response (QR) code technology, PAX successfully launched a new generation of QR code-reading payment terminals at the beginning of the year, delivering new and streamlined payment experiences to Chinese customers.

Overall, the Group achieved impressive international growth during the period, contributing to the Group’s revenue increase of 16.8% to HK$1,875.6 million. Profit attributable to the owners of the Company decreased by 2.4% to HK$258.5 million. The basic earnings per share was HK$23.5 cents (1H2017: HK$23.8 cents). The Board of Directors of the Company resolved to declare an interim dividend of HK$0.04 per ordinary share.

Mergers & Acquisitions

PAX continues to proactively pursue merger & acquisition opportunities. The Group further optimized the business structure by enhancing the diversity of payment related products and services of the Group’s hardware and software divisions. In 2017 and 2018, the Group completed a number of M&A projects, including subsidiary acquisitions, minority stake investment and fund investment in Korea, Italy, Sweden, Shanghai and Beijing, as well as establishing subsidiaries in Japan and India. In the first half of 2018, the Group increased its investment in a Beijing based fund to a total of RMB 85 million. This fund primarily invests in high-quality emerging technology and start-up projects. The Group believes that an increase in the fund’s investment will help strengthen the financial technology advantages of PAX, so as to be better positioned to respond to the rapidly changing market environment in China.

Mr. Jack LU, Chief Executive Officer of PAX, commented:

“As FinTech develops at a fast pace worldwide, the increasing popularity of innovative payment methods such as mobile wallets, Near Field Communication (NFC) and QR code payment is fuelling rapid growth in electronic transactions. As a leading company in today’s global payment terminal industry, PAX is dedicated to the pursuit of excellence, adhering to a corporate culture of continuous innovation and excellence so that we can offer best-in-class product quality and a continually evolving product roadmap for our customers"

"During the first half of 2018, PAX launched a new family of smart Android terminals and QR code-reading devices, offering innovative features which are helping to deliver new payment experiences to consumers and merchants alike. The Group is now also deploying our new generation electronic cash register products, the E-series, in many countries around the world, delivering an all-in-one integrated retail payment solution to merchants."

"Looking to the future, the Group will continue to focus on product innovation to meet growing market demand, while flexibly grasp the opportunities presented by market development, thereby enabling us to expand global presence of business and enhance the Group's leading position in the international payments industry."

About PAX

PAX Technology is the world’s leading innovative electronic payment terminal solutions provider, supplying a wide portfolio of superior quality payment devices to businesses worldwide.

Our state-of-the-art Android and Linux payment technologies empower merchants to accept any form of modern consumer payment, offering greater cost-effectiveness and improved operational efficiencies.

Around 30 million PAX payment terminals have been deployed in over 100 countries through a network of trusted partnerships and direct channel sales.

Founded in 2001 and with global headquarters in Shenzhen, China, the company is listed on the Hong Kong stock exchange as PAX Global Technology Limited (00327.HK).

PAX Technology Limited
Bressenden Place
London SW1 5RS
United Kingdom

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release PAX Global Technology Announces 2018 Interim Financial Results - International sales surge 45% as strong global presence drives exceptional growth here

News-ID: 1170260 • Views:

More Releases from PAX Global Technology Limited

New Remote Key Injection Service for FinTech Acquirers in Europe, Middle East an …
PAX Technology began preparing its Q2 launch of a cost efficient Remote Key Injection Managed Service by announcing that P4Cards has become the first Italian payment organization to begin the migration of the Bancomat Certification Authority Certificate. “We have already begun leveraging the core state-of-the-art system of our new RKI Managed Service for our important Italian customer P4Cards”, said Andrea Zucchiatti, CTO for the EMEA Region at PAX, “a service which
PAX wins “Most Valuable Small & Mid-Cap Company” in Golden Hong Kong Stocks …
PAX Global Technology Limited (“PAX” or the “Company”, together with its subsidiaries collectively known as the “Group”, HKSE stock code: 00327.HK), one of the world’s leading electronic payment terminal solutions providers, is pleased to announce the Company has been awarded the “Most Valuable Small & Mid-Cap Company” in the Golden Hong Kong Stocks Awards 2018. The “Golden Hong Kong Awards Ceremony 2018” held in Shenzhen, was co-organized by ZhiTong CaiJing
Android point of sale solutions coming to Paris Retail Week
PAX Global Technology Limited (HKSE stock code: 00327.HK), a leading provider of electronic payment terminal solutions and related services, will showcase Android and other innovative payment devices at Paris Retail Week on September 10th 2018. PAX France Novelpay Sas will showcase the fashionable A-series terminals which, unlike traditional POS terminals commonly deployed in France, will allow payment service providers to manage their own independent appstore marketplace, where French merchants can download
PAX Global Technology announces sales results for 2017 Q1 to Q3
PAX Global Technology Limited (“PAX” or the “Company”, together with its subsidiaries collectively known as the “Group”, HKSE stock code 00327.HK), one of the world’s leading providers of secure electronic payment terminal solutions, is pleased to announce its unaudited consolidated revenue for the nine months ended 30 September 2017 (the “Period”). International sales revenue increased for PAX by circa 52.5% compared with the corresponding Period in 2016, while the Group’s total

All 5 Releases


More Releases for Group

Transit Packaging Market Top Key Players - STI Group, Crown Cork Group, GWP Grou …
Freight transport in transit receives a wide range of vibrational intensities over a period of time. Based on the origin, destination and network of carriers, ocean-going vessels with aircraft will vibrate with the proper amplitude. Cargo handling and sorting operations contribute to lower levels of compressive force than movement in transit. The only exception to this is when the cargo moves in transit. This allows heavier packages to slip into
Steel Billet Market Application Segment Analysis 2019 Leading Players: Baosteel, …
Steel Billet Market Before steel products are sold on the market, the steel must first be processed into more functional pieces. Raw steel cannot be of use while in its pure form, thus it has to be cast into shape. The freshly made steel, which is still in the form of a metal bar or rectangle, is called steel billet. We tend to believe this industry is a rising industry, and the
White Spirits Market 2019 Wuliangye Kweichow Moutai Group Yanghe Brewery Daohuax …
As per global White Spirits market report for the period of 2018 to 2023, the White Spirits market is likely to reach an estimate of USD xx million at the end of the 2023 rising at the rate of CAGR xx% throughout the forecast period of 2019 to 2024. The global White Spirits market report covers an exhaustive understanding of the White Spirits that encompasses various important factors like the
Automotive Metal Market ’size 2019 by Top Key Players: ArcelorMittal, China Ba …
The ‘Automotive Metal Market’ research report assembled by Market Study Report, LLC, provides a succinct analysis on the recent market trends. In addition, the report offers a thorough abstract on the statistics, market estimates and revenue forecasts, which further highlights its position in the industry, in tandem with the growth strategies adopted by leading industry players. This report focuses on the Automotive Metal in global market, especially in North America, Europe
Steel Ingot Market Outlook and Forecasts 2018 to 2025 and Key Players: ArcelorMi …
The “Global Steel Ingot Analysis to 2025” is a specialized and in-depth study of the Steel Ingot industry with a focus on the global market trend. The report aims to provide an overview of global Steel Ingot with detailed market segmentation by component, type, application and geography. The global Steel Ingot market is expected to witness high growth during the forecast period. The report provides key statistics on the market
Global LF Refined Steel market 2017 - HBIS Group, NSSMC Group, POSCO, Shagang Gr …
Apex Market Reports, recently published a detailed market research study focused on the "LF Refined Steel Market" across the global, regional and country level. The report provides 360° analysis of "LF Refined Steel Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global LF Refined Steel industry, and estimates the future trend of