PAX Global Announces 2025 Interim Results
The Group's revenue reached HK$ 2.7 billion,
interim dividend up by 4%
PAX Global Technology Limited (“PAX” or the “Group”, stock code: 00327.HK), one of the world’s leading providers of electronic payment terminal (“E-payment terminal”) solutions and related services, is pleased to announce its unaudited interim results for the six months ended 30 June 2025 (the “Period”).
Market opportunities
With the increasing popularity of digital payments, cashless transactions are emerging as a global trend. Meanwhile, the fast-paced advancement of blockchain technology is creating new opportunities for the payment sector. In 2025, the regulatory environment continued to be supportive, with the enactment of the U.S. GENIUS Act and Hong Kong’s Stablecoins Ordinance coming into effect. The establishment of regulatory frameworks for payment stablecoins is ushering in a new landscape for the payment industry.
Driven by both policy tailwinds and growing market demand, global digital transformation is accelerating and unlocking vast potential for the payment terminal sector. The Group is actively capitalizing on these trends, with PAX payment terminals now support stablecoins and other emerging payment methods across multiple markets. Leveraging our global presence and technological expertise, PAX is committed to delivering diversified, secure, and efficient payment solutions to merchants worldwide.
PAX Group strategic priorities
Seizing opportunities in stablecoin payments
2025 marks a landmark year for stablecoin payments. The rapid evolution of stablecoins and blockchain technology is reshaping the global financial payment ecosystem, driving payment options toward even greater efficiency. PAX is actively embracing these emerging digital currency payment methods, providing merchants worldwide with more diversified, secure, and efficient payment solutions. Leveraging our global sales network and SaaS ecosystem, PAX will continue to harness its technological innovation and collaborate with partners to capture new opportunities in stablecoin payments.
Optimizing payment terminal portfolio
PAX places innovation and quality at the heart of its strategy, empowering global acquiring banks, PSPs and independent sales organisations to serve merchants with greater efficiency and intelligence. To strengthen competitiveness and respond swiftly to evolving demand, PAX is strategically optimizing resource allocation to drive cost reduction and improve efficiency. The Group will streamline its payment terminal portfolio, focusing resources on high-demand and high-value Android models to strengthen its brand presence and reinforcing its leading market position.
Strengthening the SaaS ecosystem
To fully unlock the potential of Android smart terminals, the Group is advancing its next-generation SaaS ecosystem. Our suite of value-added services includes AirViewer for remote support, GoInsight for big data analysis, Cyberlab for cloud-based payment application testing, and the PCI-certified RKI platform for secure key management. Meanwhile, PAX is also accelerating the integration of artificial intelligence (AI) to enhance intelligent support and data applications, laying the foundation for the next generation of smart payment infrastructure.
2025 H1 financial summary
the first half of 2025, the Group leveraged its global footprint, optimized resource allocation and targeted high-potential markets to drive resilient business development across regions. During the period, the Group recorded revenue of HK$2,716.2 million. By implementing a diversified market strategy, PAX maintained a stable gross profit margin of 46.9%. Profit for the period reached HK$391.4 million, with a net profit margin of 14.4%, demonstrating PAX’s enterprise-wide resilience and strong risk management capabilities. The board of directors has resolved to declare an interim dividend of HK$0.25 per ordinary share for the six months ended 30 June 2025.
Global regional highlights
Europe, the Middle East and Africa (EMEA)
The Group delivered robust results in the EMEA region, with sales reaching HK$1,083.9 million, continuing to be PAX’s largest revenue-contributing region. In Europe, key markets like Italy, the United Kingdom and France achieved significant sales. Flagship Android models the A920Pro and A35 are highly preferred by leading acquiring banks and PSPs, with widespread adoption across sectors such as retail, hospitality and transportation. Strategic partnerships with EV charging providers also fueled sales growth for our unattended payment terminal model IM30.
In the Middle East, growth momentum in the UAE remained strong. Across Africa, PAX strengthened partnership with local PSPs to drive digital payment adoption and financial inclusion. During the period, Egypt achieved strong double-digit growth while Sub-Saharan shipments continued to rise steadily.
The Group continues to strengthen its payment security services in EMEA. During the period, PAX Remote Key Injection (“RKI”) service in Italy successfully renewed PCI PIN and PCI P2PE certifications, highlighting PAX’s commitment to upholding the highest industry standards. This achievement further solidifies our leadership in payment security across EMEA.
Latin America and the Commonwealth of Independent States (LACIS)
In the first half of 2025, PAX faced pressure on its sales in key Latin American markets as a result of economic uncertainty, currency fluctuations and intensified industry competition, particularly in Brazil. Across other Latin American countries, the Group has further strengthened its local partnership networks. In Panama, the Group made steady progress with the deployment of Android smart terminals, achieving notable sales growth during the period.
The United States of America and Canada (USCA)
the North American market showed steady recovery with rising order volumes, driving sales growth of 39.0% year-on-year.
The Group’s flagship payment products such as the A920Pro, A3700, A35 and A800 are widely deployed across high-traffic sectors like cinemas, telecom operators, convenience retail and quick-service restaurant chains, driving stronger market penetration. Demand surged for the IP67-rated PDA A6650 while the A920MAX officially entered commercial use in North America.
In the Android commercial POS (“EPOS”) field, the Group made notable inroads with Workstation orders rising steadily. During the period, we partnered with a nationally renowned quick-service restaurant chain, further driving large-scale adoption of its EPOS solutions across commercial environments. To capture the growing market demand for EPOS products, we will increase investment in direct sales channels for retail and hospitality, while strengthening product localization capabilities to address the distinct needs of market segments across North America.
Asia Pacific Region (APAC)
In the Asia Pacific region, the Group continues to strengthen its presence with diversified market strategy. Despite extended sales cycles in certain markets, PAX is ramping up investment in high-potential markets, driving steady development in the region.
In Japan, PAX doubled the sales during the period, driven by accelerated deployment of smart payment terminals. New models such as the A920MAX and A8700 have secured multiple new projects, including a landmark partnership with one of Japan’s largest retail chains for a large-scale A8700 rollout. This marks a significant breakthrough for PAX in Japan’s retail sector.
In Australia, the post-acquisition integration of a local distributor progressed smoothly. PAX will strengthen its local sales and support presence, while expanding its software and value-added service capabilities. In the first half of 2025, the newly established RKI service in Australia successfully obtained PCI PIN certification, further strengthening the Group’s payment security capabilities in the Asia Pacific region and delivering more efficient and localized security service for partners.
Leading global payment security standards and setting a new industry benchmark
Positioned at the forefront of the global payment terminal industry, PAX is committed to investing in technological innovation and product security. In the first half of 2025, PAX was once again appointed to the PCI SSC Board of Advisors, as the only Asian payment terminal provider among over 60 global members.
As payment technologies rapidly evolve and global compliance standards become more stringent, the Group has continued to strengthen its compliance and security capabilities, achieving significant milestones in international payment certifications. During the period, the A920Pro smart terminal successfully achieved EMVCo C-8 certification, paving the way for industry shift to next-generation contactless standards. Moreover, the A77 Android MiniPOS became the world’s first payment terminal to receive PCI PTS POI v7.0 certification, the highest security benchmark for PIN-entry devices. This achievement highlights PAX’s strong commitment to payment security and its leading R&D capabilities.
Driving global adoption of Android smart payment terminals and unlocking diverse verticals
PAX Android solutions play an increasing vital role in multiple verticals, powering payments in diverse market segments, including retail, hospitality, quick-service restaurant chains, transportation, vending, theme parks, tourist attractions and electric vehicle (EV) charging. During the period, Android products accounted for over 65% of the Group’s total revenue.
Growing SaaS ecosystem with MAXSTORE platform reaches 15-million terminal milestone
The Group continues to accelerate investment in its flagship SaaS solution, MAXSTORE, delivering scalable and high-performance solutions to clients worldwide. As of 30 June 2025, MAXSTORE achieved a milestone of 15 million connected terminals, offering a diverse selection of over 16,000 applications.
Mr. Tiger NIE, Chairman & CEO of PAX, said, “Looking ahead, riding the momentum of rapid global digital payment development, PAX is ready to seize the opportunities presented by stablecoins. We’re focused on streamlining our product portfolio and enhancing our SaaS services. Together with our global partners, we will explore new business opportunities and continue to reinforce our position as a leader in the payment terminal industry.”
