BOCOM International Holdings (BOCOM Intl) released unaudited results for the six months ended 30 June 2026.

Revenue and Profitability • Total revenue and other income climbed 44.4% year on year to HK$399.03 million (1H 2025: HK$276.27 million), driven by stronger commission, fee and trading gains. • Operating loss shrank by 77.9% to HK$69.27 million (1H 2025: HK$314.07 million). • Net loss attributable to shareholders narrowed 72.9% to HK$76.62 million, translating to a basic and diluted loss per share of HK$0.03 (1H 2025: HK$0.10).

Revenue Composition • Brokerage income increased 10.0% to HK$78.42 million, buoyed by higher stock-trading commissions. • Corporate finance & underwriting fees surged 315.8% to HK$45.51 million, reflecting completion of multiple IPO and debt deals. • Asset management & advisory fees were broadly stable at HK$21.58 million (-1.5% YoY). • Margin-financing interest fell 43.7% to HK$14.43 million amid lower average loan balances. • Investment & loans contributed HK$146.92 million, supported by bond interest and a turnaround in proprietary trading income to a HK$28.84 million gain (1H 2025: HK$42.34 million loss). • Other income rose 58.7% to HK$93.69 million.

Cost Management and Credit • Total expenses declined 20.7% to HK$468.29 million, led by lower finance costs (-14.6% to HK$192.60 million), staff costs (-9.9%), and depreciation (-28.0%). • An impairment-allowance reversal of HK$20.29 million contrasted with a HK$58.59 million charge a year earlier, easing bottom-line pressure.

Balance Sheet and Liquidity • Total assets stood at HK$14.87 billion (31 Dec 2025: HK$14.99 billion). • Net current assets improved to HK$365.65 million from a HK$380.58 million deficit at 2025 year-end, aided by a HK$1.14 billion reduction in current liabilities. • Cash and bank balances totalled HK$1.58 billion (31 Dec 2025: HK$2.03 billion). • Total borrowings were HK$12.14 billion, with a gearing ratio of 1,236.5% (31 Dec 2025: 1,336.5%). • Equity attributable to shareholders increased to HK$982.15 million (31 Dec 2025: HK$938.28 million). • No interim dividend was declared.

Segment Assets • Financial assets at FVOCI: HK$5.19 billion (34.9% of total assets), mainly non-trading bonds. • Financial assets at FVTPL: HK$5.15 billion (34.6%), including HK$2.37 billion listed/unlisted equities and HK$0.79 billion trading bonds. • Unlisted fund investments amounted to HK$1.86 billion; the largest position was Amber Leading Fund, L.P. with a fair value of HK$793.8 million (5.3% of total assets).

Operational Highlights • Commission mix: Hong Kong equities remained dominant at 81.0% of brokerage fees; bonds contributed 7.8%. • Margin-loan book closed at HK$419.25 million; number of margin accounts rose slightly to 9,811. • Debt capital market activity included 33 completed bond issues raising USD10.70 billion for clients. • Assets under management totalled HK$18.46 billion, down 18.3% from year-end 2025.

Outlook Management expects continued macro volatility in 2H 2026 but cites opportunities from technological innovation, industrial upgrading and policy support in China. Strategic focus will remain on strengthening core licensed businesses, risk control and capitalising on Hong Kong’s role as a cross-border financing hub.