APE Announces 2018 Annual Results

ASIA PIONEER ENTERTAINMENT HOLDINGS LIMITED
亞洲先鋒娛樂控股有限公司

(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 8400)

APE Announces 2018 Annual Results
Profit and Total Comprehensive Income Surged by 361% to HK$20.7 million
***

(20 March 2019, Hong Kong) Asia Pioneer Entertainment Holdings Limited (stock code: 8400.HK) and its subsidiaries (collectively referred to as “APE” or the “Group”) announced its annual results for the financial year ended 31 December 2018 (“FY2018”).

APE’s profit and total comprehensive income surged by 361% to approximately HK$20.7 million in FY2018 from approximately HK$4.5 million in FY2017 (noting that FY2017 profits were impacted by listing expenses of approximately HK$14.2 million).

Revenues for FY2018 increased by 27% to approximately HK$110 million from approximately HK$86.1 million for FY2017. The strong revenue growth was driven by continuous growth in the Group’s core lines of businesses including sales and distribution of electronic gaming equipments (EGEs), which included two lease sales it made in Cambodia and Philippines; consulting services to equipment suppliers; repair of EGEs; and sales of refurbished machines.

In addition to the outstanding operating results achieved in FY2018, the Group also made exciting progress in business expansion in both Macau and overseas market.

For the overseas market, according to a recent industry report, Asia’s mass gaming and slots market grew around 15% YoY in USD Gross Gaming Revenue for 2018, with the Philippines up 25% YoY and Cambodia up 32% YoY, both the fastest in the Asia markets.

Mr. Allen Huie, APE’s Chairman, commented, “APE is a proven EGE company in Macau. It is always in our plans to leverage our product knowledge and experience in Macau to access the South East Asian markets. In the coming years, we were able to initiate our Asian expansion with lease sales in Cambodia and the Philippines, the two countries with rapid growth in EGEs.”

While for the Macau market, APE has continued to introduce new products and games. In FY2018, APE introduced a new horse racing machine from Konami Australia to a casino client in Macau, securing two purchases. APE’s consulting division also helped an EGE supplier to get certification for several new games under development.