HKBN announced resilient FY22 growth across all business fronts. (From right) Our Co-Owner and Executive Vice-chairman William Yeung, and our Co-Owner-to-be and CEO – Enterprise Solutions William Ho.

Dear Friends of HKBN

HKBN Announces Solid FY22 Annual Results
Earmarking capital to turbo-charge growth

Today, we announced solid operational and financial results for the year ended 31 August 2022. Amid challenging conditions like COVID-19’s fifth wave hitting Hong Kong’s economy hard and a tougher economic landscape, we demonstrated our strong resilience and delivered a solid set of results in FY22, buoyed by our integration synergies, strategic partnerships and Infinite-play. Key highlights of FY22’s results include:

Enterprise Solutions: Continued to drive growth from system integration & tech segments

Despite a challenging outlook from the macro-economy, our Enterprise Solutions business showed resilience with strong growth potential as indicated by low customer churn and stable broadband subscriptions, which resulted in an increase of market share to 37%. Contributed by our ongoing transformation and extensive fibre network coverage, together with further upgraded technical capabilities brought forward by successful M&A integrations, we have introduced market solutions to alleviate shortages in IT talents and resources. We also acquired top-notch industry veterans to lead and execute our streamlined game plan, focusing purely on driving growth initiatives. Amid challenges, our Group will seek breakthroughs, striving for growth and securing a leading position in the market.

Residential Solutions: Continued indoor and outdoor coverage expansion, Infinite-play for growth

Despite intense market competition, our Residential Solutions business remained solid. This is due to our ongoing Infinite-play strategy, which includes teaming up with world famous streaming platforms to provide customers diversified entertainment, the expansion of our home network security solutions and 5G ultra-fast mobile service. Broadband monthly customer churn remained low at 1%, with subscriber numbers increasing to 897,000. HKBN remains one of the industry’s few players that has continued to invest in expanding our fibre network coverage, which now covers over 2.5 million households, providing customer-centric and high-value services with a wider range of solutions that go beyond traditional connectivity.

Leverage strong foundation and turbo-charge GROWTH

William Yeung, our Co-Owner and Executive Vice-chairman said, "Where there is a challenge, there is an opportunity. We are in the privileged position to capture greater market share: our successful integrations, our edge to expand in the system integration sector, market-disrupting 5G mobile service, must-see entertainment and a broader range of Infinite-play solutions – all prove that our strategy to grow beyond connectivity is on track. We are earmarking capital to continue turbo-charging growth initiatives, creating win-win-win outcomes for our customers, our Elite Sports Team and our partners!"

For more details of HKBN’s FY22 results, please refer to the announcement: