Quam Securities

Since its inception in 1986, Quam Securities Limited (Quam Securities) has grown to become one of the few mid-tier securities brokerages in Hong Kong with global execution capabilities for both private and institutional clients. It boasts a well-established network in Greater China including Taiwan and in major world markets through the Global Alliance Partners (GAP). Quam Securities is well-positioned not only to harness and drive business within the China Tonghai International Financial Limited but also between China and the world markets.

Research from Quam Securities

Research from Quam Securities, Quam Securities

Quam Securities Research

Equity Bottom-Up

<ul><li>PAX Global Technology ("PAX") posted a solid set of 1H22 results, with attributable net profit surging by 35.9% y/y to HK$703.8mn, in line with our expectations.</li><li>Thanks to solid revenue growth in all operating regions, its total revenue was up 26.0% y/y to RMB4.2bn.</li><li>An interim DPS of 17 HK cents was declared, up 41.7% y/y and translating into a payout ratio of 26.9%.</li></ul>

PAX Global Technology ("PAX") posted a solid set of 1H22 results, with attributable net profit surging by 35.9% y/y to HK$703.8mn, in line with our expectations.Thanks to solid revenue growth in all operating regions, its total revenue was up 26.0% y/y to RMB4.2bn.An interim DPS of 17 HK cents was declared, up 41.7% y/y and translating into a payout ratio of 26.9%.

PAX Global Technology Limited (327 HK) -1H22 Results in Line Under the Accelerating Cashless World

Pax Global Technology

PAX Global Technology Limited (327 HK) -1H22 Results in Line Under the Accelerating Cashless World