Enhancing AI-powered ICT services
HONG KONG, Oct. 24, 2024 /PRNewswire/ -- HGC Global Communications ("HGC" or the "Group"), a fully-fledged ICT service provider and network operator with extensive global coverage, announced robust business performance for the fiscal year 2024.
Highlight of Business Performance:
- In the consumer market, 71% of HGC's residential broadband users are currently using fiber-to-the-home (FTTH) of 1,000M or higher, representing a year-on-year increase of six percentage. The number of residential users exceeds 400,000, with over one million customers using HGC services, the Group positions one of the leading companies in Hong Kong
- In the corporate segment, the revenue from HGC's one-stop Managed Services grew by 33% in FY2024 compared to FY2019. Gross profit from ICT solutions increased by 306% compared to FY2019. Additionally, the performance in internet services has been robust, with a significant increase of 27% in the number of lines since FY2019.
- In the small and medium-sized enterprise (SME) sector, the number of SME customers using fiber broadband increased by 28% year-on-year, achieving growth for three consecutive years.
- In international business, HGC will continue to use Hong Kong as center hub while actively expanding and investing in emerging markets in Asia. In the Philippines, it successfully rolled out over 1,500 kilometers of optic infrastructure and installed more than 6,000 strategic access points, with ongoing expansions. In Asia, HGC has successfully built a Data Center Interconnection (DCI) clusters, connecting mature data center hubs, such as Hong Kong and Singapore, with emerging hubs in the Philippines, Thailand, and Malaysia, currently linking over 55 data centers.
- HGC has launched an AI-empowered Security Operations Center (SOC) that provides true 24/7 comprehensive digital and cybersecurity services, aimed at delivering cybersecurity services to corporate clients and Secured Broadband services to SMEs.
Andrew Kwok, Chief Executive Officer of HGC Group, said, "Thanks to the collective efforts of all our employees, HGC has achieved steady business performance and growth this year. The Group adopts a sustainable long-term business model and uses Hong Kong as center. We are committed to continuously enhancing telecommunications and ICT infrastructure to improve the digital capabilities of all sectors, further reinforcing Hong Kong's position as a regional leader. HGC will continue to closely monitor the demands and trends of international markets and strengthen interconnections with overseas regions."
One-Stop Managed Services and ICT Solutions: Empowering Corporates and SMEs for Comprehensive Digital Transformation
HGC has benefited from the strong demand for ICT solutions in the corporate market, with both corporates and SMEs recording continuous growth, the revenue from one-stop Managed Services has grown by 33% in FY2024 compared to FY2019, facilitating digital transformation for corporate clients. ICT solutions help corporate clients to enhance network security while effectively reducing operational costs, resulting not only in a positive impact on our business performance but also contributes to a 306% increase in the gross profit of our ICT services compared to the FY2019 while bandwidth requirements to meet customer demands have increased by 80%.
Additionally, the Group fully supports SMEs in their digital transformation efforts. The number of SME customers using fiber broadband has increased by 28% year-on-year, achieving growth for three consecutive years. The Secured Broadband service, was launched in April 2023 and has successfully thwarted over 2 million various types of cyberattacks. This service supports thousands of SME clients, with over a hundred new SME customers joining each month, highlighting the importance of its cybersecurity protection.
Expanding Fiber Network Coverage and Mapping: Leading in Residential Broadband Penetration
Home broadband has always been a core focus for the Group, which is dedicated to keeping the public closely connected in the digital age. As of June 2024, HGC has achieved a year-on-year increase of six percentage, with 71% of its residential broadband users currently utilizing fiber-to-the-home (FTTH) connections of 1,000M or higher. The number of residential users exceeds 400,000, and over one million customers are using HGC services, positioning the Group as one of the first among the leaders in Hong Kong's broadband penetration.
To meet the demand for fiber networks in remote rural areas, the Group is diligently accelerating the deployment of fiber projects in these regions. To date, fiber installation projects have been completed in over 200 villages, benefiting approximately 41,000 rural households. The fiber rollout plan for 60 additional villages is expected to be completed by 2025, further expanding the number of households that will benefit.
Actively Expanding and Investing in Emerging Markets in Asia and the Greater Bay Area: Holistically Enhancing Hong Kong's Position as an International Telecommunications Hub
Despite the impact of market dynamics and geopolitical factors on Hong Kong, HGC continues to use the city as its telecommunications hub while actively expanding and investing in emerging markets in Asia. The Group strategically focuses its investments in the Southeast Asian market, particularly in the Philippines:
- Successfully rolled out over 1,500 kilometers of fiber optic infrastructure, with ongoing expansions
- Installed more than 6,000 strategic access points (manholes), further enhancing our network coverage
- The network spans key corporate and residential areas, as well as previously unserved and underserved locations
These initiatives have not only achieved significant results but have also garnered high recognition from regional governments, including the Department of Trade and Industry of the Philippines.
Additionally, HGC has successfully established a data center interconnection (DCI) cluster in Asia. By connecting mature data center hubs, such as those in Hong Kong and Singapore, with emerging hubs in the Philippines, Thailand, and Malaysia, the Group aims to further enhance its regional network and promote the continuous development of innovative technologies. Currently, the Group has connected over 55 data centers and plans to further expand the scale of this infrastructure. At the same time, HGC is actively exploring multiple investment and acquisition opportunities in Malaysia to strengthen regional business and telecommunications infrastructure. We recognize the demand from Chinese companies to expand abroad, and we are ready to serve them with our investment, professional team (with 200+ colleagues in 4 major offices), know-how and expertise.
Mr. Kwok concluded, "While the Group expands into local, SEA, and GBA markets, we will also prioritize leveraging cutting-edge technologies like AI to enhance our cybersecurity products. We have professional talent, well-extablished experience, and an international exposure. Most importantly, we possess the reasonable investment capital to drive our various plans forward and are committed to providing our customers with high-quality, advanced products and services. HGC is well-prepared to implement diversified and innovative strategies and services tailored to different markets. We remain proactive in expanding various collaborations to deliver high-quality and secure services using the latest technologies. The Group's goal continues to be empowering businesses and individuals in their digital transformation, ensuring they thrive in an increasingly interconnected world."
HGC hosted the 2024 Business Performance & Development Update Media Briefing
About HGC Global Communications Limited
HGC Global Communications Limited (HGC) is a leading Hong Kong and international telecom operator and ICT solution provider. The company owns an extensive network and infrastructure in Hong Kong and overseas and provides various kinds of services. HGC has 21 global offices and staff presence in 33 cities worldwide. It provides telecom infrastructure service to other operators and serves as a service provider to corporate and households. The company provides full-fledged telecom, data centre services, ICT solutions and broadband services for local, overseas, corporate, SME and mass markets. HGC owns and operates an extensive fibre-optic network, five cross-border telecom routes integrated into tier-one telecom operators in mainland China and connects with hundreds of world-class international telecom operators. The company is committed to further investing and enriching its current infrastructure and, in parallel, adding on top the latest technologies and developing its infrastructure services and solutions. In 2019, HGC Group completed the acquisition of Macroview Telecom Limited (Macroview), a leading digital technology solution and managed services provider. The addition of Macroview further accelerates HGC Group's digital transformation path and positioning as a pioneering ICT and digital services leader. HGC is a portfolio company of I Squared Capital, an independent global infrastructure investment manager focusing on energy, utilities, transport, social infrastructure, digital infrastructure, and environmental infrastructure in North America, Europe, Latin America and Asia.
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