BoardWare Intelligence Technology Limited reported interim revenue of HK$316.04 million for the six months ended 30 June 2026 (“1H26”), down 1.7% year-on-year. A 31.3% jump in Enterprise IT Solutions sales to HK$224.27 million could not fully offset a 39.0% slide in distribution and resale turnover to HK$91.78 million.
Gross profit fell 5.9% to HK$65.79 million, trimming the gross margin to 20.8% from 21.7% a year earlier, as hardware procurement costs rose alongside higher AI-related infrastructure demand. Nonetheless, other income rose 42.9% to HK$7.96 million on increased government R&D subsidies, and administrative expenses declined 15.5% to HK$35.37 million. Net profit improved 62.5% to HK$1.27 million, lifting the effective tax rate marginally to 6.8%.
Operating cash inflow reached HK$44.89 million, helping boost cash and equivalents to HK$107.42 million from HK$66.45 million at end-2025. Net bank borrowings fell to HK$59.24 million, cutting the gearing ratio to 17.0% from 24.5%. Capital commitments were negligible, while the group held HK$26.07 million in pledged deposits.
BoardWare maintained R&D investment, with expenses up 23.6% to HK$11.05 million, supporting product pipelines such as BCI-enabled AI glasses, the TerraMind AI agent platform, and the newly launched BarcoOne dynamic agent collaboration platform. Management highlighted growth opportunities in agentic AI, cybersecurity, brain–computer interfaces and cross-border data services, underpinned by Macau’s MOP 20 billion Government Guidance Fund and data-sharing initiatives with Hengqin.
No interim dividend was declared. The company confirms compliance with Hong Kong’s Corporate Governance Code, save for the combined chairman/CEO role held by founder Chao Ka Chon. Major shareholder Tai Wah (BVI) Holdings Ltd. maintained a 63.02% stake, and public float remained above the 25% threshold.
The audit committee and Deloitte Touche Tohmatsu reviewed the unaudited interim results. The Share Option Scheme, with a 50 million-share limit, remained unused during the period. BoardWare’s share code is 01204.