, for HK778m (US$100m)<\/strong>, in June 2022.<\/p>\n\n\n\nIt also attributed an increase in revenue to the growth in tourist arrivals in Macau in the first half and no further extension on the exemption on transaction service fees charged to small and medium enterprises after the end of February 2023. Profit for the first half was approximately HK$22.9m while operating losses declined to HK$12.4m.<\/p>\n\n\n\n
According to the company’s statement, the decrease in operating loss was due to a combination of factors: the increase in revenue (partially offset by the related costs and expenses); the increase in other income by approximately HK$4.8m (partially offset by an increase in employee benefits expenses to HK$77.3m) and the increase in the depreciation and amortisation expenses to HK$34.9m.<\/p>\n\n\n\n
As for the following months, the company stated: “The group will continue to extend its hardware product offering to non-lottery hardware for the retail sector, with a view to broadening the product spectrum of its hardware business.<\/p>\n\n\n\n
“At the same time, the group will also integrate and optimize its technical capabilities in the POS (point of sales) payment terminals market and provide better services for merchants in Macau.<\/p>\n\n\n\n
“Looking forward, AGTech will continue to pursue overseas opportunities and globalize its business through offering its proprietary systems and platforms, as well as operational and technical expertise, in addition to seeking a strategic partnership with local partners in Asia, where appropriate.”<\/p>\n","protected":false},"excerpt":{"rendered":"
AGTech Holdings has posted a 120.9 per cent year-on-year rise in revenue for the first half of 2023.<\/p>\n","protected":false},"author":176,"featured_media":7556,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"AGTech Holdings reported a 120.9% year-on-year revenue increase to HK$294.4m for the first half of 2023, primarily driven by the consolidation of Macau Pass Holdings and growth in Macau's electronic payment sector. The company also saw a decline in operating losses and plans to expand its hardware offerings to the non-lottery retail sector while globalizing its proprietary systems and seeking strategic partnerships in Asia.","focusai_entities":"AGTech Holdings, Macau Pass Holdings, Macau Pass","focusai_location":"Hong Kong, Macau, China, Asia","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), tech_data (0.7), payments_fraud_aml (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Pass Synergies?","query":"What specific operational and financial synergies has AGTech realized from the Macau Pass Holdings acquisition beyond revenue consolidation, and what is the projected ROI?"},{"label":"Global Expansion Strategy?","query":"What are AGTech's target markets for overseas expansion, and what specific regulatory hurdles or partnership models are being considered for globalizing its proprietary systems?"}],"footnotes":""},"categories":[16338,163],"tags":[23700],"class_list":["post-777008046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-agtech"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008046","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777008046"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008046\/revisions"}],"predecessor-version":[{"id":777008051,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777008046\/revisions\/777008051"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/7556"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777008046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777008046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777008046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}