The Macau operation of Hong Kong-listed telecommunications provider SmarTone reported a loss of HK$3.23 million (US$411,523) in the financial year ended June 30, 2022, narrowing from the loss of HK$5.13 million in the previous 12 months.
According to the 2021/2022 annual results of SmarTone published last week, the revenue of its Macau operation surged 40.4 per cent year-on-year to HK$509.72 million in the past 12 months ended June 30.
SmarTone is one of the four 3G and 4G telecommunications service providers in Macau, alongside Companhia de Telecomunicações de Macau S.A.R.L. (CTM), Hutchison Telecom Macau (under the brand 3 Macau), and China Telecom.
In the recently-launched public tender for Macau’s first batch of 5G licences, only CTM and China Telecom submitted bids before the deadline in August, while SmarTone and Hutchison Telecom Macau did not apply.
The authorities expect the 5G licencing process to be completed this year, with licenced operators launching 5G service as soon as the first quarter of 2023. Currently, Macau is the only jurisdiction in China without an operating 5G network.
As a whole group that includes operation in Hong Kong, SmarTone recorded HK$423.17 million in the profit attributable to shareholders in the year ended June 30, 2022, slumping by 4.8 per cent year-on-year, while its total revenue jumped by 4 per cent year-on-year to HK$6.96 billion.
Concerning the outlook for the Hong Kong and Macau segments, the company noted in the report: “The mobile market continues to be very competitive as players cut prices to maintain market share. Economic conditions are expected to remain challenging with a distinct possibility of recession.”
