Comba Telecom (2342.HK) Returns to Profitability in 2025 as Network Systems Business Surges

HONG KONG, March 25, 2026 — Comba Telecom Systems Holdings Limited (2342.HK) reported a return to profitability for the year ended 31 December 2025, driven by improved cost controls, stronger pricing power, and robust growth in its network systems business.

The Group recorded revenue of HK$4.571 billion, a modest year-on-year increase of 0.9%, while gross profit margin rose by 2.8 percentage points to 28.7%. Profit attributable to shareholders reached HK$35.02 million, reversing a loss of HK$564 million in the previous year.

Cost Optimisation and Margin Expansion Drive Turnaround

Comba Telecom attributed its improved performance to enhanced operational efficiency and disciplined cost management. Total operating expenses declined by 25.7% year-on-year, contributing significantly to the return to profitability.

The company also strengthened its balance sheet during the year through a placement that raised approximately HK$372 million, supporting future business development and improving financial flexibility.

Network Systems Business Emerges as Key Growth Driver

The standout performer for the year was the network systems segment, which includes wireless enhancement and wireless access solutions. Revenue from this segment increased by 26.5% year-on-year to HK$1.107 billion, reflecting growing demand for advanced connectivity solutions.

This growth highlights the Group’s ability to capitalise on evolving telecom requirements, particularly as operators invest in network upgrades, energy efficiency, and intelligent infrastructure.

Stable Performance Across Core Segments

Revenue from base station antennas and subsystems remained the largest contributor at HK$1.77 billion, accounting for 38.7% of total revenue, despite a slight decline. Services revenue remained stable at HK$938 million, while other business segments, including wireless transmission, saw modest contraction.

International markets continued to play a significant role, contributing 48.2% of total revenue, underlining the importance of the Group’s global strategy.

Positioning for Green and Intelligent Networks

Comba Telecom noted that the global telecommunications industry is increasingly focused on green, low-carbon and intelligent network solutions. Operators are prioritising energy efficiency, full-scenario connectivity, and intelligent operations.

In response, the Group is advancing its portfolio of green and intelligent antenna systems and solutions, aimed at helping operators reduce costs and improve network performance while meeting sustainability objectives.

Looking ahead, Comba Telecom expects to continue strengthening its research and development capabilities while focusing on customer-centric innovation.

Chairman Tony TL Fok said the Group will prioritise technology leadership, product quality, and operational efficiency as it seeks to capture new market opportunities and deliver long-term value to shareholders.