Summary by Futu AI
HKBN Limited (HKBN) announced its full-year performance for the year ending on August 31, 2024. Total revenue decreased by 9% year-on-year to 10.651 billion yuan, mainly due to lower-than-expected sales of mobile phones and other products. However, earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 3% year-on-year to 2.365 billion yuan, indicating a strong performance in the second half of the year. The annual profit was 10 million yuan, a significant improvement from a loss of 67 million yuan in the previous year. Adjusted free cash flow decreased by 19% year-on-year to 0.62 billion yuan, impacted by a high interest environment. The proposed final dividend is 16.5 cents per share, with a full-year dividend of 31.5 cents per share, a 21% decrease from the previous year. The company made progress in fixed telecom network services (FTNS) and ICT portfolio, and introduced diversified IT services. Looking ahead, the company will continue to enhance operational efficiency and explore refinancing opportunities to improve its capital structure.