Analogue 2025 Annual Results Profit Attributable to Owners of the Company Increases 23.5% to HK$167.0 Million
HONG KONG, Mar 27, 2026 - (ACN Newswire) - Analogue Holdings Limited (“Analogue” or the “Company”, together with its subsidiaries, the “Group”) (stock code: 1977), a leading provider of electrical and mechanical (“E&M”) engineering solutions, and information and communications technology services for smart cities, today announced its annual results for the year ended 31 December 2025 (“the Year” or “FY2025”) with net profit growth, contracts-in-hand achieving another record high and order intake more than doubled, providing a solid business foundation for the coming three years and beyond.
Financial Highlights
- Profit attributable to owners of the Company increased 23.5% to HK$167.0 million.
- Contracts-in-hand surged 61.8% to HK$17,878.7 million, hitting another record-high, made possible by a 113.7% increase in order intake to HK$12,913.6 million during the Year.
- The intake of new maintenance contracts for housing programmes, environmental projects and lifts and escalators increased 51.4% to HK$1,669 million, reinforcing the recurring revenue stream.
- The Group maintained a strong cash position, with bank balances and cash of HK$1,020.8 million and gearing ratio reduced to 10.1% for FY2025 from 26.2%.
- The Board has resolved to pay a second interim dividend of HK2.9 cents per share. Total dividend for the year amounted to HK5.5 cents per share with 25.6% increment year-on-year.
Chairman Dr Mak Kin Wah said, “The Year 2025 saw profound changes around the world, with challenges and yet also opportunities. Our Group has continued to stride forward: upholding what we commit by delivering the fundamentals well, striving for continuous improvement to make transformation actionable, investing in technology advancement and productivity, and bringing Hong Kong’s engineering excellence to the world. We are pleased to report that the Group achieved profit growth, secured a record level of contracts-in-hand, and continued to build on our international market presence. These accomplishments highlight our distinctive comprehensive capability across diverse business segments, our commitment to excellence, and our leadership in advanced engineering techniques.”
“Supported by strong cashflow, we are in a strong position to take on additional work where appropriate and to seize high-value opportunities as they arise. We will continue to stay agile and focused on capturing opportunities across our broad portfolio, build on our competitive strengths through continuous improvement, and reinforce the use of innovative solutions that enhance quality, safety and performance. We remain steadfast in our commitment to our customers, recognising that this is fundamental to earning their trust and cultivating enduring, strategic partnerships. Guided by our motto – ‘We Commit. We Perform. We Deliver’ – we will continue to maximise value for customers, shareholders, suppliers and stakeholders, while contributing to the communities we serve.”
Business Review: Building Services
- This segment remains the largest revenue contributor, with revenue reaching HK$3,279 million.
- Contracts-in-hand reached a record-high level of HK$8,297 million with the total value of new contracts secured in FY2025 doubled to HK$6,470 million. The Group’s competitive edge in multidisciplinary packaged projects and its industry leadership in innovative MiMEP and other new engineering techniques helped it to secure major contracts.
- With strategic investments to accelerate innovation and modern manufacturing facilities in Zhuhai and Hong Kong, the Group continues to lead in MiMEP and DfMA technologies.
- Following the successful acquisition of a property management licence, the Group expanded its business to deliver integrated solutions across the entire building lifecycle. This new capability, spanning construction, maintenance, operations and long-term facility management, creates a potential revenue stream that complements core services.
- Through continuous development of innovative technologies and operational optimisation, the segment is positioning itself to maintain the market competitiveness while exploring opportunities in other markets in Southeast Asia.
Environmental Engineering
- This segment achieved record-high contracts-in-hand and order intake, increasing 86.9% and 253.7% to HK$8,094 million and HK$5,355 million respectively. Segment revenue also increased by 18.0% year-on-year to HK$1,591 million.
- The segment maintained active tendering throughout the period and was awarded significant contracts, including contracts of a record-breaking value to relocate sewage treatment works in Sha Tin to caverns, sewage pumping station at Ma On Shan and more.
- Formed a joint venture company in Qingyang city to explore the operation and maintenance business in the Chinese Mainland.
- Explored project opportunities in Asia and the Middle East and the expansion of its expert services into Europe.
Information, Communications and Building Technologies (“ICBT”)
- Segment revenue remained at HK$630 million. Contracts-in-hand totalled HK$852 million at the year end, and order intake was HK$523 million during the Year.
- This segment continued to reinforce its leadership in green and intelligent building solutions under the DigiFusion brand, to enable the development of smarter, more sustainable urban environments.
- Continued to leverage ATAL Tower as a platform for developing innovative technologies and broaden its technological capabilities through strategic collaborations with leading manufacturers in the Chinese Mainland and around the world, to strengthen its ability to deliver scalable, high-performance solutions across a wide range of sectors.
Lifts and Escalators
- Revenue and order intake increased 11.0% to HK$587 million and by 3.2% to HK$566 million respectively.
- Transel Elevator & Electric Inc. (TEI), the associate company in the United States (US), secured a contract for the world-class vertical transportation system in the iconic 56-storey luxury hotel skyscraper on the border of Times Square in New York. TEI also further strengthened its market position by extending its footprint into the Southeastern part of US.
- Actively built on its presence in the UK and broadened its network across other international markets, reinforcing its global ambitions in vertical transportation solutions.
- Machine-Room-Less lift products continued to gain traction in key international markets
- Streamlined the manufacturing processes of Nanjing factory, broadened its product portfolio and strengthened the overall product quality, aligning with the Group’s global vision and reaffirming its commitment to delivering reliable, high-performance vertical transportation solutions.
For further details of the 2025 Annual Results, please refer to the announcement filed with The Stock Exchange of Hong Kong Limited.
About Analogue Holdings Limited
Established in 1977, Analogue Holdings Limited is a leading provider of electrical and mechanical (“E&M”) engineering solutions and information and communications technology (“ICT”) services for smart cities, with headquarters in Hong Kong and operations in the Chinese Mainland, Macau, the United States, the United Kingdom, Germany, Singapore and Malaysia. Serving a wide spectrum of customers from public and private sectors, the Group provides multidisciplinary and comprehensive E&M engineering and technology services in four major segments, including Building Services, Environmental Engineering, Information, Communications and Building Technologies (“ICBT”) and Lifts & Escalators.
The Group also manufactures and sells lifts and escalators internationally and has entered into an alliance with Transel Elevator & Electric Inc. (“TEI”), one of the largest independent lifts and escalators companies in New York, the United States. The Group’s associate partner, Nanjing Canatal Data-Centre Environmental Tech Co., Ltd. (603912.SS), specialises in manufacturing of precision air conditioners.
Copyright 2026 ACN Newswire. All rights reserved. www.acnnewswire.com