HK Stock Market Move | PCCW (stock code: 00008) fell more than 4% after its performance report. Shareholders' equity attributable to owners decreased by HK$300 million in 2024, showing a year-on-year narrowing of about 36%.

PCCW (00008) fell more than 4% after the performance, dropping 3.89% to 4.69 Hong Kong dollars as of press time, with a turnover of 62.997 million Hong Kong dollars. In terms of news, on February 21, PCCW announced its performance for 2024, with revenue increasing by 3% to 37.557 billion Hong Kong dollars year-on-year, and EBITDA increasing to 12.849 billion Hong Kong dollars. The company's equity holders' share of losses was 300 million Hong Kong dollars, narrowing by about 36% year-on-year; loss per share was 3.88 Hong Kong cents, and the final dividend was 28.48 Hong Kong cents per share. Among them, Hong Kong Telecom revenue (excluding mobile communication product sales) increased by 2% to 32.031 billion Hong Kong dollars, OTT business revenue reached 2.458 billion Hong Kong dollars, and free TV and related business revenue increased by 11% to 10.57 billion Hong Kong dollars. Viu provides services in 16 markets in Southeast Asia, the Middle East, and South Africa, and is a leading Asian video streaming platform in the region. In the year, Viu added 2.2 million paid subscribers, totaling 15.5 million, with particularly strong growth in Indonesia, Malaysia, and Thailand. The company has established new partnerships with digital economy companies such as Grab, Trip.com, and Zalora, as well as launching Premium+ subscription user levels in specific markets, which also helped drive a 15% increase in subscription revenue for the year.