SIM TECH Reports January Revenue of HK$30.9 Million, Down 27% Year-on-Year

Stock News

Feb 09

SIM TECH (02000) announced that its unaudited revenue for January 2026 was HK$30.9 million, representing a decrease of 41.2% compared to the previous month and a decline of 27% compared to the same period last year. The group's core business revenue was HK$28 million, down 43.8% month-on-month. Due to significant impacts from intense competition in the automotive industry, the group has adjusted its business plan and strategy starting January 2026 and has ceased accepting new procurement orders for its in-vehicle smart product business. Concurrently, the group's customers have also adjusted the delivery schedules for their procurement orders. As a result, both shipments and core business revenue in January 2026 saw a notable decrease compared to December 2025. Non-core business revenue primarily consists of rental income. The non-core business revenue for January 2026 was approximately the same as that of December 2025.

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