Earnings release
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement , make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement . Hutchison Telecom Hong Kong Holdings Hutchison Telecommunications Hong Kong Holdings Limited 和 記 電訊 香港 控股 有限公司 ( Incorporated in the Cayman Islands with limited liability ) ( Stock Code : 215 ) UNAUDITED RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2026 HIGHLIGHTS 1H 2026 HK $ million 1H 2025 ( 1 ) HK $ million Change Hong Kong operations Total revenue 2,846 2,151 + 32 % Net customer service revenue Local service revenue Roaming service revenue Total EBITDA ( 2 ) Total EBIT ( 3 ) 1,866 1,759 + 6 % 1,389 1,376 + 1 % 477 383 + 25 % 763 766 18 17 + 6 % Profit from Hong Kong operations 9 Profit / ( loss ) from Macau operations Q2 17 -47 % 2 ( 11 ) + 118 % Profit attributable to shareholders 11 + 83 % Earnings per share from Hong Kong operations ( in HK cents ) 0.19 0.35 -47 % Earnings per share ( in HK cents ) 0.23 0.12 + 83 % Interim dividend per share ( in HK cents ) 2.28 2.28 Note 1 : Results for the period ended 30 June 2025 have been restated to conform with current year presentation to reflect the sale of the entire interests of the Group in a subsidiary which engaged in the mobile telecommunications business in Macau on 12 January 2026. Consequently , the entire mobile telecommunications business in Macau is reported as discontinued operations in the Group's condensed consolidated financial statements during the periods ended 30 June 2026 and 2025 . Note 2 : EBITDA represents the EBITDA of the Company and subsidiary companies as well as the Group's share of the EBITDA of a joint venture . EBITDA is defined as earnings before net interest and other finance income , taxation , depreciation and amortisation . Information concerning EBITDA has been included in the Group's financial information and is used by many industries and investors as one measure of gross cash flow generation . The Group considers EBITDA to be an important performance measure which is used in the Group's internal financial and management reporting to monitor business performance . EBITDA is not a measure of cash liquidity or financial performance under IFRS Accounting Standards and the EBITDA measures used by the Group may not be comparable to other similarly titled measures of other companies . EBITDA should not necessarily be construed as an alternative to cash flows or results from operations as determined in accordance with IFRS Accounting Standards . Note 3 : EBIT represents the EBIT of the Company and subsidiary companies as well as the Group's share of the EBIT of a joint venture . EBIT is defined as earnings before net interest and other finance income and taxation . Information concerning EBIT has been included in the Group's financial information and is used by many industries and investors as one measure of results from operations . The Group considers EBIT to be an important performance measure which is used in the Group's internal financial and management reporting to monitor business performance . EBIT is not a measure of financial performance under IFRS Accounting Standards and the EBIT measures used by the Group may not be comparable to other similarly titled measures of other companies . EBIT should not necessarily be construed as an alternative to results from operations as determined in accordance with IFRS Accounting Standards . CH A member of CK Hutchison Holdings 1
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2 CHAIRMAN’S STATEMENT For the six months ended 30 June 2026 , the Group remained prudent in navigating an evolving economic environment. Supported by a resilient business foundation and the disposal of its Macau operations, the Group delivered improved profitability. During the period, the Group’s profit attributable to shareholders was HK$11 million, representing an improvement compared with the same period last year, mainly attributable to the elimination of losses previously arising from the Macau operations. Dividend The Board declared an interim dividend of 2.28 HK cents per share for the six months ended 30 June 2026 (2025 interim dividend: 2.28 HK cents per share), in line with the same period the previous year, payable on Wednesday, 16 September 2026, to shareholders (except for holders of treasury shares) whose names appear on the Register of Members of the Company at the close of business on Monday, 7 September 2026, being the record date for determining shareholders’ entitlement to the interim dividend. Currently, there are no treasury shares held by the Company (whether held or deposited in CCASS, or otherwise). Business Highlights for Hong Kong Operations Net customer service revenue increased by HK$107 million, or 6% year-on-year, to HK$1,866 million, mainly driven by stable local service revenue and continued growth in roaming service revenue. During the first half of 2026, the Group upgraded its flagship World Plan with new travelling benefits and introduced a secondary SIM feature , enabling more flexible sharing of global data. In parallel, new 5G monthly plans and a suite of AI -driven products and services were launched across the consumer and enterprise markets, while integrating evolving family-centric services such as home cybersecurity care, pet healthcare and grooming, and health checkup for seniors. These initiatives reflect the Group’s focus on deepening customer engagement, advancing digital lifestyle tailored for different segment needs of the market, and showcasing the “3 for You” brand value. Hardware revenue amounted to HK$980 million, supported by continued demand for flagship mobile devices. Overall, total revenue from Hong Kong operations increased by HK$695 million, or 32% year- on-year, to HK$2,846 million. Total margin decreased slightly by HK$43 million, or 3% year-on-year, to HK$1,422 million, primarily reflecting a higher mix of low margin revenue streams , partially offset by improved hardware margin. EBITDA from Hong Kong operations remained stable at HK$763 million, underpinned by ongoing cost-saving initiatives and efficiency gains from digitalisation and AI-assisted workplace tools, which partially offset the impact of the lower total margin. Operating expenses decreased by 8% year-on- year, reflecting the Group’s continued commitment to cost discipline. EBIT from Hong Kong operations was HK$18 million, representing an increase of HK$1 million or 6%, compared with the corresponding period in 2025, primarily attributable to lower depreciation and amortisation expenses. As a result of lower bank deposit interest rates, net interest income from Hong Kong operations amounted to HK$34 million, representing a decrease of HK$8 million compared to the same period last year.
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3 As at 30 June 2026, the Group’s customer base reached approximately 3.2 million. The Group’s 5G penetration rate reached 64% (30 June 2025 : 57%), underscoring the robust appeal of its service offerings and network infrastructure. The monthly postpaid churn rate stood at 0.9% (1H 2025: 0.9%), demonstrating effective customer engagement and retention in a competitive market landscape. Postpaid net ARPU decreased by 2% to HK$173 compared to the same period last year, primarily due to continued market competition. Outlook Although Hong Kong’s economic outlook continues to improve, consumer spending remains prudent. The Group will remain focused on cost discipline and operational efficiency , while pursuing growth opportunities in adjacent services and further diversifying its revenue streams through AI-driven and segmented solutions. Given the Group’s strong cash position and improving profitability, the Board will continue to review the utilisation of cash to further enhance shareholder value as part of its review of the Group’s 2026 full year results. The Group remains committed to advancing its sustainability priorities, including enhancing energy efficiency, optimising resource utilisation and strengthening employee engagement , to support long-term resilience and value creation. I would like to thank the Board and all staff members for their valuable contributions , ongoing dedication, hard work, professionalism to the Group and dedication to customers. FOK Kin Ning, Canning Chairman Hong Kong, 10 August 2026
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4 MANAGEMENT DISCUSSION AND ANALYSIS Business Highlights for Hong Kong Operations Financial Performance Summary 1H 2026 HK$ million 1H 2025 (1) HK$ million Change Revenue 2,846 2,151 +32% Net customer service revenue 1,866 1,759 +6% Local service revenue 1,389 1,376 +1% Roaming service revenue 477 383 +25% Hardware and other product revenue 980 392 +150% Net customer service margin 1,390 1,462 -5% Net customer service margin % 74% 83% -9% points Standalone hardware and other product sales margin 32 3 +967% Total margin 1,422 1,465 -3% - CACs (190) (175) -9% - Less: Bundled sales revenue 99 95 +4% CACs (net of hardware and other product revenue) (91) (80) -14% Operating expenses (594) (644) +8% Operating expenses as a % of net customer service margin 43% 44% +1% point Share of EBITDA of a joint venture 26 25 +4% EBITDA (2) 763 766 - Service EBITDA (2) 731 763 -4% Service EBITDA (2) margin % 39% 43% -4% points CAPEX (excluding telecommunications licences) (169) (172) +2% EBITDA (2) less CAPEX 594 594 - Depreciation and amortisation (4) (745) (749) +1% EBIT (3) 18 17 +6% Service (LBIT)/EBIT (3) (14) 14 -200% Net interest and other finance income (4) 34 42 -19% Profit before taxation 52 59 -12% Taxation (4) (43) (42) -2% Profit attributable to shareholders 9 17 -47% Note 1: Results for the period ended 30 June 2025 have been restated to conform with current year presentation to reflect the sale of the entire interests of the Group in a subsidiary which engaged in the mobile telecommunications business in Macau on 12 January 2026. Consequently, the entire mobile telecommunications business in Macau is reported as discontinued operations in the Group’s condensed consolidated financial statements during the periods ended 30 June 2026 and 2025. Note 2: EBITDA represents the EBITDA of the Company and subsidiary companies as well as the Group’s share of the EBITDA of a joint venture. EBITDA is defined as earnings before net interest and other finance income, taxation, depreciation and amortisation. Information concerning EBITDA has been included in the Group’s financial information and is used by many industries and investors as one measure of gross cash flow generation. The Group considers EBITDA to be an important performance measure which is used in the Group’s internal financial and management reporting to monitor business performance. EBITDA is not a measure of cash liquidity or financial performance under IFRS Accounting Standards and the EBITDA measures used by the Group may not be comparable to other similarly titled measures of other companies. EBITDA should not necessarily be construed as an alternative to cash flows or results from operations as determined in accordance with IFRS Accounting Standards. Note 3: EBIT/(LBIT) represents the EBIT/(LBIT) of the Company and subsidiary companies as well as the Group’s share of the EBIT of a joint venture. EBIT/(LBIT) is defined as earnings or losses before net interest and other finance income and taxation. Information concerning EBIT/(LBIT) has been included in the Group’s financial information and is used by many industries and investors as one measure of results from operations. The Group considers EBIT/(LBIT) to be an important performance measure which is used in the Group’s internal financial and management reporting to monitor business performance. EBIT/(LBIT) is not a measure of financial performance under IFRS Accounting Standards and the EBIT/(LBIT) measures used by the Group may not be comparable to other similarly titled measures of other companies. EBIT/(LBIT) should not necessarily be construed as an alternative to results from operations as determined in accordance with IFRS Accounting Standards. Note 4: Depreciation and amortisation, net interest and other finance income and taxation include the Group’s share of joint venture’s respective items.
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5 Review of Financial Results Net customer service revenue increased by HK$107 million, or 6% year-on-year, to HK$1,866 million, mainly driven by stable local service revenue and continued growth in roaming service revenue. During the first half of 2026, the Group upgraded its flagship World Plan with new travelling benefits and introduced a secondary SIM feature, enabling more flexible sharing of global data. In parallel, new 5G monthly plans and a suite of AI -driven products and services were launched across the consumer and enterprise markets, while integrating evolving family-centric services such as home cybersecurity care, pet healthcare and grooming, and health checkup for seniors. These initiatives reflect the Group’s focus on deepening customer engagement, advancing digital lifestyle tailored for different segment needs of the market, and showcasing the “3 for You” brand value. Hardware revenue amounted to HK$980 million, supported by continued demand for flagship mobile devices. Overall, total revenue from Hong Kong operations increased by HK$695 million, or 32% year- on-year, to HK$2,846 million. Total margin decreased slightly by HK$43 million, or 3% year-on-year, to HK$1,422 million, primarily reflecting a higher mix of low margin revenue streams , partially offset by improved hardware margin. EBITDA from Hong Kong operations remained stable at HK$763 million, underpinned by ongoing cost-saving initiatives and efficiency gains from digitalisation and AI-assisted workplace tools, which partially offset the impact of the lower total margin. Operating expenses decreased by 8 % year-on- year, reflecting the Group’s continued commitment to cost discipline. EBIT from Hong Kong operations was HK$18 million, representing an increase of HK$1 million or 6%, compared with the corresponding period in 2025, primarily attributable to lower depreciation and amortisation expenses. Together with a lower net interest income of HK$34 million as a result of lower bank deposit interest rates, profit from Hong Kong operations for the six months ended 30 June 2026 was HK$9 million, a decrease of 47% compared to the same period last year.
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6 Key Performance Indicators 1H 2026 1H 2025 (1) Change Number of postpaid customers (‘000) 1,304 1,297 +1% Number of prepaid customers (2) (‘000) 1,922 1,899 +1% ───── ───── Total customers (‘000) 3,226 3,196 +1% ───── ───── Postpaid customers to total customer base (%) 40% 41% -1% point Postpaid customers’ contribution to net customer service revenue (%) 72% 78% -6% points Monthly churn rate of postpaid customers (%) 0.9% 0.9% - Postpaid gross ARPU (HK$) 184 188 -2% Postpaid net ARPU (HK$) 173 176 -2% Postpaid net AMPU (HK$) 142 151 -6% Note 1: Results for the period ended 30 June 2025 have been restated to conform with current year presentation to reflect the sale of the entire interests of the Group in a subsidiary which engaged in the mobile telecommunications business in Macau on 12 January 2026. Consequently, the entire mobile telecommunications business in Macau is reported as discontinued operations in the Group’s condensed consolidated financial statements during the periods ended 30 June 2026 and 2025. Note 2: Number of prepaid customers has been adjusted to align with the presentation basis of CK Hutchison Holdings Limited. As at 30 June 2026, the Group’s customer base reached approximately 3.2 million. The Group’s 5G penetration rate reached 64% (30 June 2025: 57%), underscoring the robust appeal of its service offerings and network infrastructure. The monthly postpaid churn rate stood at 0.9% (1H 2025: 0.9%), demonstrating effective customer engagement and retention in a competitive market landscape. Postpaid net ARPU decreased by 2% to HK$173 compared to the same period last year, primarily due to continued market competition. Net Interest and Other Finance Income Net interest and other finance income (with share of a joint venture) amounted to HK$34 million in the first half of 2026 (1H 2025: HK$42 million), with overall bank interest income decreased by 12% due to the reduction in bank deposit interest rates. Hong Kong operations continue to maintain a healthy financial position with cash and bank balances of HK$3,748 million as of 30 June 2026 (31 December 2025: HK$3,747 million).
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7 Capital Expenditure Capital expenditure on property, plant and equipment, which accounted for 9% (1H 2025: 10%) of the net customer service revenue from Hong Kong operations, slightly decreased by 2% or HK$3 million as a result of strategic investments for network optimisation. The Group enforces rigorous cost discipline in capital expenditures , ensuring meticulous investment evaluation and optimal resource allocation to meet operational, technological and strategic objectives. Summary of Spectrum Investment as of 30 June 2026 Spectrum band Bandwidth Year of expiry Hong Kong 700 MHz 20 MHz 2037 900 MHz 10 MHz 2041 900 MHz 10 MHz 2036 1.8 GHz 30 MHz 2036 2.1 GHz 29.6 MHz 2031 2.3 GHz 30 MHz 2027 (1) 2.6 GHz 20 MHz (2)(3)(4) 2028 (3)(4) 2.6 GHz 10 MHz (2) 2039 3.3 GHz 30 MHz 2034 3.5 GHz 40 MHz 2035 26 GHz 600 MHz 2034 Note 1: As a result of the completed 2024 spectrum auction, the Group will hold 20 MHz spectrum in the 2.3 GHz band from 2027 to 2042 upon the expiry of the existing licence. Note 2: The spectrum band was shared under a 50/50 joint venture - Genius Brand Limited. Note 3: One of the 10 MHz spectrum s in the 2.6 GHz band was transferred from another joint venture partner to the joint venture with the assignment period from March 2024 to March 2028. Upon the expiry of such assignment of spectrum in March 2028, the same joint venture partner will transfer another 10 MHz spectrum in the 2.6 GHz band to the joint venture with the assignment period from March 2028 to March 2039. Note 4: As a result of the completed 2025 spectrum auction, one of the 10 MHz spectrum s in the 2.6 GHz band will be replaced by 2 0 MHz spectrum in the 2.6 GHz band for 11 years.
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8 REPORT ON REVIEW OF CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS TO THE BOARD OF DIRECTORS OF HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED (incorporated in the Cayman Islands with limited liability) Introduction We have reviewed the condensed consolidated interim financial statements set out on pages 9 to 29, which comprises the condensed consolidated statement of financial position of Hutchison Telecommunications Hong Kong Holdings Limited (the “Company”) and its subsidiaries (together, the “Group”) as at 30 June 2026 and the condensed consolidated statement of comprehensive income, the condensed consolidated statement of changes in equity and the condensed consolidated statement of cash flows for the six-month period then ended, and selected explanatory notes. The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited require the preparation of a report on condensed consolidated interim financial statements to be in compliance with the relevant provisions thereof and International Accounting Standard 34 “Interim Financial Reporting”. The directors of the Company are responsible for the preparation and presentation of these condensed consolidated interim financial statements in accordance with International Accounting Standard 34 “Interim Financial Reporting”. Our responsibility is to express a conclusion on these condensed consolidated interim financial statements based on our review and to report our conclusion solely to you, as a body, in accordance with our agreed terms of engagement, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report. Scope of Review We conducted our review in accordance with International Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”. A review of condensed consolidated interim financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the condensed consolidated interim financial statements of the Group are not prepared, in all material respects, in accordance with International Accounting Standard 34 “Interim Financial Reporting”. PricewaterhouseCoopers Certified Public Accountants Hong Kong, 10 August 2026
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9 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE SIX MONTHS ENDED 30 JUNE 2026 (Restated) (Note 2) Unaudited Unaudited Note 2026 2025 HK$ million HK$ million Continuing operations Revenue 4 2,846 2,151 Cost of inventories sold (948) (389) Staff costs (179) (180) Expensed customer acquisition and retention costs (40) (32) Depreciation and amortisation (725) (730) Other operating expenses 6 (942) (809) ───── ───── 12 11 Interest and other finance income 7 77 88 Interest and other finance costs 7 (37) (40) Share of result of a joint venture (2) (2) ───── ───── Profit before taxation 50 57 Taxation 8 (41) (40) ───── ───── Profit for the period from continuing operations 9 17 Discontinued operations Profit/(loss) for the period from discontinued operations 19(a) 2 (11) ───── ───── Profit and total comprehensive income for the period attributable to shareholders of the Company, net of tax 11 6 ═════ ═════ Earnings/(loss) per share attributable to shareholders of the Company (expressed in HK cents per share): - Basic and diluted, arises from 9 Continuing operations 0.19 0.35 Discontinued operations 0.04 (0.23) ───── ───── 0.23 0.12 ═════ ═════ Details of interim dividend payable to shareholders of the Company are set out in Note 10. The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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10 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION AT 30 JUNE 2026 Unaudited Audited Note 30 June 2026 31 December 2025 HK$ million HK$ million Non-current assets Property, plant and equipment 11 2,525 2,626 Goodwill 2,155 2,155 Telecommunications licences 2,565 2,526 Right-of-use assets 532 409 Customer acquisition and retention costs 154 145 Contract assets 123 123 Other non-current assets 12 537 407 Investment in a joint venture 105 97 ────── ────── Total non-current assets 8,696 8,488 ----------- ----------- Current assets Cash and cash equivalents 13 355 594 Short-term bank deposits with original maturity beyond 3 months 13 3,393 3,153 Trade receivables and other current assets 14 947 806 Contract assets 108 116 Inventories 66 56 ────── ────── 4,869 4,725 Assets classified as held for sale 19(d) - 199 ────── ────── Total current assets 4,869 4,924 ----------- ----------- Current liabilities Trade and other payables 15 1,492 1,313 Contract liabilities 208 202 Lease liabilities 312 269 Current income tax liabilities 147 97 ────── ────── 2,159 1,881 Liabilities directly associated with assets classified as held for sale 19(d) - 113 ────── ────── Total current liabilities 2,159 1,994 ----------- -----------
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11 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED) AT 30 JUNE 2026 Unaudited Audited Note 30 June 2026 31 December 2025 HK$ million HK$ million Non-current liabilities Lease liabilities 217 132 Deferred tax liabilities 165 174 Other non-current liabilities 16 2,115 1,963 ────── ────── Total non-current liabilities 2,497 2,269 ----------- ----------- Net assets 8,909 9,149 ══════ ══════ Capital and reserves Share capital 17 1,205 1,205 Reserves 7,704 7,944 ────── ────── Total equity 8,909 9,149 ══════ ══════ The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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12 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE SIX MONTHS ENDED 30 JUNE 2026 Unaudited Share capital Share premium Accumulated losses Pension reserve Other reserves (i) Total HK$ million HK$ million HK$ million HK$ million HK$ million HK$ million At 1 January 2026 1,205 11,185 (3,224) 273 (290) 9,149 Profit for the period - - 11 - - 11 Dividend relating to 2025 paid in 2026 (Note 10) - - (251) - - (251) Disposal of a subsidiary - - 3 - (3) - ────── ────── ────── ────── ────── ────── At 30 June 2026 1,205 11,185 (3,461) 273 (293) 8,909 ══════ ══════ ══════ ══════ ══════ ══════ At 1 January 2025 1,205 11,185 (2,838) 271 (290) 9,533 Profit for the period - - 6 - - 6 Dividend relating to 2024 paid in 2025 (Note 10) - - (251) - - (251) ────── ────── ────── ────── ────── ────── At 30 June 2025 1,205 11,185 (3,083) 271 (290) 9,288 ══════ ══════ ══════ ══════ ══════ ══════ (i) In prior years, the Group acquired the interests in certain subsidiaries held by the non- controlling shareholders. The other reserves mainly represent the difference between the consideration paid for the additional interests acquired by the Group and the proportionate share of the carrying amount of net assets of these subsidiaries. The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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13 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE SIX MONTHS ENDED 30 JUNE 2026 Unaudited Unaudited Note 2026 2025 HK$ million HK$ million Cash flows from operating activities Cash generated from operations 18 772 683 Interest and other finance costs paid (14) (15) ───── ───── Net cash from operating activities 758 668 --------- --------- Cash flows from investing activities Purchases of property, plant and equipment (169) (174) Additions to telecommunications licences (224) - Payments for short-term bank deposits with original maturity beyond 3 months (2,643) (2,668) Proceeds from maturity of short-term bank deposits with original maturity beyond 3 months 2,403 60 Proceeds from disposals of property, plant and equipment 1 1 Interest received 73 62 Loan to a joint venture (48) (28) Net proceeds from disposal of a subsidiary 19(c) 41 - ───── ───── Net cash used in investing activities (566) (2,747) --------- --------- Cash flows from financing activities Principal elements of lease payments (191) (203) Dividend paid 10 (251) (251) ───── ───── Net cash used in financing activities (442) (454) --------- --------- Decrease in cash and cash equivalents (250) (2,533) Cash and cash equivalents at 1 January 605 3,168 ───── ───── Cash and cash equivalents at 30 June 13 355 635 ═════ ═════ The accompanying notes are an integral part of these condensed consolidated interim financial statements.
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14 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 1 General Information Hutchison Telecommunications Hong Kong Holdings Limited (the “Company”) was incorporated in the Cayman Islands on 3 August 2007 as a company with limited liability. Its registered office address is P.O. Box 31119 Grand Pavilion, Hibiscus Way, 802 West Bay Road, Grand Cayman, KY1-1205 Cayman Islands. The Company and its subsidiaries (together the “Group”) used to be engaged in mobile telecommunications business in Hong Kong and Macau. After the disposal of its mobile telecommunications business in Macau in January 2026 (Note 19), the Group is now principally engaged in the mobile telecommunications business in Hong Kong. The shares of the Company are listed on the Main Board of The Stock Exchange of Hong Kong Limited. These unaudited condensed consolidated interim financial statements (the “interim financial statements”) are presented in Hong Kong dollars (“HK$”), unless otherwise stated. These interim financial statements were approved for issuance by the Board of Dir ectors on 10 August 2026. 2 Basis of Preparation These interim financial statements for the six months ended 30 June 2026 have been prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting”. These interim financial statements should be read in conjunction with the annual financial statements for the year ended 31 December 2025, which have been prepared in accordance with IFRS Accounting Standards. These interim financial statements have been prepared under the historical cost convention, except that defined benefit plans plan assets are measured at fair values, and disposal group classified as held for sale are measured at the lower of carrying amount and fair value less costs to sell, and on a going concern basis. (i) Discontinued operations In December 2025, the Board of Directors approved the Group to enter into a sale and purchase agreement with the purchaser, an independent third party, to sell its entire interests in a subsidiary which engages in the mobile telecommunications business in Macau. The sale and purchase agreement was subsequently entered into on 12 January 2026 and the disposal was completed on the same day. Consequently, the entire mobile telecommunications business in Macau is reported as discontinued operations (the “discontinued operations”) in the Group’s interim financial statements during the periods ended 30 June 2026 and 2025. The respective assets and liabilities were classified as held for sale as at 31 December 2025. In accordance with IFRS 5, the financial results of the discontinued operations for the periods ended 30 June 2026 and 2025 are presented as a profit /(loss) from discontinued operations in the Group’s condensed consolidated statement of comprehensive income. Certain comparative amounts of the discontinued operations have been restated to conform with current period presentation. Financial information relating to the discontinued operations is set out in Note 19.
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15 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 3 Material Accounting Policies The material accounting policies applied and methods of computation used in the preparation of these interim financial statements are consistent with those used in the 2025 annual financial statements except as described in (a) below. (a) Amendments to existing standards adopted by the Group During the six months ended 30 June 2026, the Group has adopted the following amendments to existing standards which are relevant to the Group’s operations and are mandatory for accounting periods beginning on 1 January 2026: Annual Improvement Projects Annual Improvements – Volume 11 IFRS 7 and IFRS 9 Classification and Measurement of Financial Instruments (Amendments) The adoption of these amendments to existing standards did not have a material impact to the Group’s results of operations or financial position. (b) New standards and amendments to existing standards that are not yet effective and have not been early adopted by the Group The following new standards and amendments to existing standards have been issued but are not yet effective for the six months ended 30 June 2026: IAS 21 (Amendments) (i) Translation to a Hyperinflationary Presentation Currency IAS 28 (Amendments) (i) Fair Value Option for Investments in Associates and Joint Ventures IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and (Amendments) (iii) its Associate or Joint Venture IFRS 18 (i) Presentation and Disclosures in Financial Statements IFRS 19 (i) Subsidiaries without Public Accountability: Disclosures IFRS 20 (ii) Regulatory Assets and Regulatory Liabilities (i) Effective for annual periods beginning on or after 1 January 2027 (ii) Effective for annual periods beginning on or after 1 January 2029 (iii) The original effective date of 1 January 2016 has been postponed until future announcement by the I nternational Accounting Standards Board
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16 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 3 Material Accounting Policies (Continued) (b) New standards and amendments to existing standards that are not yet effective and have not been early adopted by the Group (Continued) IFRS 18 Presentation and Disclosure in Financial Statements IFRS 18 will replace IAS 1 Presentation of Financial Statements, introducing new requirements that will help to achieve comparability of the financial performance of similar entities and provide more relevant information and transparency to users. Even though IFRS 18 will not impact the recognition or measurement of items in the financial statements, its impacts on presentation and disclosure are expected to be pervasive, in particular those related to the statement of financial performance and providing management -defined performance measures within the financial statements. The key new concepts introduced in IFRS 18 relate to: • the structure of the statement of profit or loss with defined subtotals; • requirement to determine the most useful structure summary for presenting expenses in the statement of profit or loss; • required disclosures in a single note within the financial statements for certain profit or loss performance measures that are reported outside an entity’s financial statements (that is, management-defined performance measures); and • enhanced principles on aggregation and disaggregation which apply to the primary financial statements and notes in general. The Group will apply the new standard from its mandatory effective date of 1 January 2027. Retrospective application is required, and so the comparative information for the financial year ending 31 December 2026 will be restated in accordance with IFRS 18. The Group is in the process of making an assessment of the impact of other new standards and amendments to existing standards upon initial application.
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17 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 4 Revenue Revenue comprises revenues from the provisions of mobile telecommunications and other related services and the sales of telecommunications hardware and other products. An analysis of revenue is as follows: Six months ended 30 June (Restated) 2026 2025 HK$ million HK$ million Mobile telecommunications and other related services 1,866 1,759 Telecommunications hardware and other products 980 392 ───── ───── 2,846 2,151 ═════ ═════ Disaggregation of revenue The Group’s revenue from the provisions of services and delivery of goods by timing of satisfaction of performance obligations is as follows: Six months ended 30 June (Restated) 2026 2025 HK$ million HK$ million Timing of revenue recognition: Over time 1,866 1,759 At a point in time 980 392 ───── ───── 2,846 2,151 ═════ ═════ 5 Segment Information In a manner consistent with the way in which information is reported internally to the Group’s chief operating decision maker for the purpose of resource allocation and performance assessment, the Group has identified only one reporting segment, which is m obile telecommunications business.
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18 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 6 Other Operating Expenses Six months ended 30 June (Restated) 2026 2025 HK$ million HK$ million Cost of services provided (i) 868 741 General administrative and distribution costs 47 45 Expenses for short-term leases 7 12 Loss on disposals of property, plant and equipment 1 2 Auditors’ remuneration 3 3 Loss allowance provision 16 7 Employment and other subsidies (ii) - (1) ───── ───── Total 942 809 ═════ ═════ (i) Include interconnection charges, roaming costs and other network operating costs. (ii) Benefits received from government and other companies under employment and other support schemes. 7 Interest and Other Finance Income, Net Six months ended 30 June 2026 2025 HK$ million HK$ million Interest and other finance income: Bank interest income 72 82 Interest income from a joint venture 5 6 ───── ───── 77 88 -------- -------- Interest and other finance costs: Notional interest accretion (i) (33) (35) Guarantee and other finance fees (4) (5) ───── ───── (37) (40) -------- -------- Interest and other finance income, net 40 48 ═════ ═════ (i) Notional interest accretion represents the notional adjustments to accrete the carrying amount of certain obligations recognised in the condensed consolidated statement of financial position such as lease liabilities, licence fees liabilities and assets retirement obligations to the present value of the estimated future cash flows expected to be required for their settlement in the future.
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19 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 8 Taxation Six months ended 30 June 2026 2025 Current taxation Deferred taxation Total Current taxation Deferred taxation Total HK$ million HK$ million HK$ million HK$ million HK$ million HK$ million Continuing operations 50 (9) 41 47 (7) 40 Discontinued operations - - - - - - ──── ──── ──── ──── ──── ──── 50 (9) 41 47 (7) 40 ════ ════ ════ ════ ════ ════ Hong Kong profits tax has been provided at the rate of 16.5% (30 June 2025: 16.5%) on the estimated assessable profits less available tax losses. Taxation outside Hong Kong has been provided at the applicable current rates of taxation ruling in the relevant countries on the estimated assessable profits less available tax losses. CK Hutchison Holdings Limited, the ultimate holding company of the Company, is within the scope of the Pillar Two Model Rules published by the Organisation for Economic Co-operation and Development. As at 30 June 2026, Pillar Two legislation has been enacted and is in effect in Hong Kong where the Group operates. Based on the Group’s assessment for the period ended 30 June 2026 and the information currently available, the overall impact of Pillar Two rules on the Group’s income tax position, including current tax, is not material. The Group will continue to monitor developments in Pillar Two legislation in Hong Kong and assess the potential future impact on its financial statements. Furthermore, in accordance with the IAS 12, the Group applies the mandatory exception from recognising, and disclosing deferred tax assets and liabilities related to Pillar Two income taxes.
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20 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 9 Earnings/(loss) per Share The calculation of basic earnings/(loss) per share is based on profit/(loss) attributable to shareholders of the Company and on the weighted average number of ordinary shares in issue during the period as follows: Six months ended 30 June (Restated) 2026 2025 HK$ million HK$ million Profit/(loss) attributable to shareholders of the Company arises from: - Continuing operations 9 17 - Discontinued operations 2 (11) ───── ───── 11 6 ═════ ═════ Six months ended 30 June (Restated) 2026 2025 Weighted average number of ordinary shares in issue 4,819,096,208 4,819,096,208 ═══════════ ═══════════ Basic earnings/(loss) per share (HK cents): - Continuing operations 0.19 0.35 - Discontinued operations 0.04 (0.23) ───── ───── 0.23 0.12 ═════ ═════ The diluted earnings/(loss) per share for the six months ended 30 June 2026 is the same as basic earnings/(loss) per share as there were no potential dilutive shares during the period (30 June 2025: Same). 10 Dividends Six months ended 30 June 2026 2025 Interim dividend (HK$ million) 110 110 ═════ ═════ Interim dividend per share (HK cents) 2.28 2.28 ═════ ═════ In addition, final dividend in respect of year 2025 of 5.21 HK cents per share (year 2024 : 5.21 HK cents per share) totalling HK$251 million (30 June 2025 : HK$251 million) was approved and paid during the six months ended 30 June 2026.
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21 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 11 Property, Plant and Equipment During the period, the Group acquired property, plant and equipment with a cost of HK$169 million (30 June 2025 : HK$174 million). Property, plant and equipment with a net book value of HK$2 million (30 June 2025: HK$3 million) was disposed of during the period, resulting in loss on disposals of HK$1 million (30 June 2025: HK$2 million). 12 Other Non-Current Assets 30 June 2026 31 December 2025 HK$ million HK$ million Prepayments 441 311 Non-current deposits 21 19 Pension assets 75 77 ───── ───── 537 407 ═════ ═════ 13 Cash and Bank Balances 30 June 2026 31 December 2025 HK$ million HK$ million Cash at banks and in hand 29 28 Short-term bank deposits with original maturity within 3 months 326 566 ───── ───── Cash and cash equivalents 355 594 Short-term bank deposits with original maturity beyond 3 months 3,393 3,153 ───── ───── 3,748 3,747 ═════ ═════ Reconciliation of cash and cash equivalents shown in the condensed consolidated statement of cash flows is as follows: 30 June 2026 31 December 2025 HK$ million HK$ million Cash and cash equivalents mentioned above 355 594 Cash and cash equivalents included in assets classified as held for sale (Note 19(d)) - 11 ───── ───── Cash and cash equivalents shown in the condensed consolidated statement of cash flows 355 605 ═════ ═════ The carrying values of cash and bank balances approximate their fair values.
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22 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 14 Trade Receivables and Other Current Assets 30 June 2026 31 December 2025 HK$ million HK$ million Trade receivables (a) 404 355 Less: Loss allowance provision (51) (37) ───── ───── Trade receivables, net of provision 353 318 Other receivables 157 79 Prepayments and deposits 437 409 ───── ───── 947 806 ═════ ═════ The carrying values of trade receivables, other receivables and deposits approximate their fair values. The Group has established credit policies for customers. The credit periods granted for trade receivables range from 14 to 45 days, or a longer period for corporate or carrier customers based on the individual commercial terms. There is no concentration of credit risk with respect to trade receivables as the Group has a large number of customers. (a) Trade receivables 30 June 2026 31 December 2025 HK$ million HK$ million The ageing analysis of trade receivables presented based on the invoice date is as follows: 0 - 30 days 189 169 31 - 60 days 73 65 61 - 180 days 56 41 Over 180 days 86 80 ───── ───── 404 355 ═════ ═════
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23 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 15 Trade and Other Payables 30 June 2026 31 December 2025 HK$ million HK$ million Trade payables (a) 219 149 Other payables and accruals (b) 930 855 Receipts in advance 133 116 Current portion of licence fees liabilities 210 193 ───── ───── 1,492 1,313 ═════ ═════ The carrying values of trade and other payables approximate their fair values. (a) Trade payables 30 June 2026 31 December 2025 HK$ million HK$ million The ageing analysis of trade payables is as follows: 0 - 30 days 68 39 31 - 60 days 63 40 61 - 90 days 23 12 Over 90 days 65 58 ───── ───── 219 149 ═════ ═════ (b) Other payables and accruals Other payables and accruals mainly represent payables and accruals for capital expenditures and network-related cost payables. 16 Other Non-Current Liabilities 30 June 2026 31 December 2025 HK$ million HK$ million Non-current licence fees liabilities 1,847 1,696 Assets retirement obligations 262 261 Long service payments liabilities 6 6 ───── ───── 2,115 1,963 ═════ ═════
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24 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 17 Share Capital (a) Authorised share capital of the Company The authorised share capital of the Company comprises 10 billion shares of HK$0.25 each (31 December 2025: Same). (b) Issued share capital of the Company Ordinary share of HK$0.25 each Number of shares Issued and fully paid HK$ million At 1 January 2025, 31 December 2025, 1 January 2026 and 30 June 2026 4,819,096,208 1,205 ═══════════ ════════ 18 Cash Generated from Operations Six months ended 30 June 2026 2025 HK$ million HK$ million Cash flows from operating activities Profit before taxation including discontinued operations 52 46 Adjustments for: - Interest and other finance income (77) (88) - Interest and other finance costs 37 40 - Depreciation and amortisation 725 746 - Capitalisation of customer acquisition and retention costs (85) (69) - Share of result of a joint venture 2 2 - Loss on disposals of property, plant and equipment 1 2 - Net gain on disposal of a subsidiary (2) - - (Increase)/decrease in trade receivables and other assets (200) 3 - (Increase)/decrease in inventories (10) 101 - Increase/(decrease) in trade and other payables, and licence fees liabilities 326 (100) - Decrease in pension assets 3 - ───── ───── Cash generated from operations 772 683 ═════ ═════ Non-cash transactions from investing activities Save as disclosed elsewhere in the interim financial statements, the non- cash transactions during the six months ended 30 June 2026 include (i) the network access fee payable to a joint venture of HK$43 million (30 June 2025: HK$47 million) and (ii) the interest income from the loan to a joint venture of HK$5 million (30 June 2025: HK$6 million), which have been settled by offsetting the loan to a joint venture.
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25 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 19 Discontinued Operations and Assets and Liabilities Classified as Held for Sale (a) Analysis of the results of discontinued operations is as follows: Six months ended 30 June Note 2026 2025 HK$ million HK$ million Discontinued operations Revenue - 65 Cost of inventories sold - (2) Staff costs - (11) Expensed customer acquisition and retention costs - (3) Depreciation and amortisation - (16) Other operating expenses (i) - (44) ────── ────── Loss before taxation of discontinued operations - (11) Taxation 8 - - ────── ────── Loss after taxation of discontinued operations - (11) Net gain on disposal of a subsidiary 19(c) 2 - ────── ────── Profit/(loss) for the period from discontinued operations 2 (11) ══════ ══════ (i) Include interconnection charges, roaming costs and other network operating costs. (b) Analysis of the cash flows of discontinued operations is as follows: Six months ended 30 June 2026 2025 HK$ million HK$ million Net cash (outflow)/inflow from operating activities (8) 5 Net cash outflow from investing activities - (2) Net cash outflow from financing activities - (5) ────── ────── Net cash outflow from discontinued operations (8) (2) ══════ ══════
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26 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 19 Discontinued Operations and Assets and Liabilities Classified as Held for Sale (Continued) (c) Assets and liabilities disposed of are as follows: 12 January 2026 HK$ million Cash consideration 110 ----------- Net assets disposed of: Property, plant and equipment (151) Right-of-use assets (10) Customer acquisition and retention costs (1) Other non-current assets (2) Deferred tax assets (1) Cash and cash equivalents (3) Trade receivables and other current assets (22) Inventories (1) Trade and other payables 49 Contract liabilities 8 Lease liabilities 9 Other non-current liabilities 17 ────── Total net assets disposed of (108) ----------- Net gain on disposal of a subsidiary 2 ══════ An analysis of the net proceeds from disposal of a subsidiary is as follows: 12 January 2026 HK$ million Cash consideration 110 Cash and cash equivalents disposed of (3) Deferred consideration (66) ────── Net proceeds from disposal of a subsidiary 41 ══════
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27 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 19 Discontinued Operations and Assets and Liabilities Classified as Held for Sale (Continued) (d) The assets and liabilities classified as held for sale as at 31 December 2025, which have been presented separately in the condensed consolidated statement of financial position, are as follows: 31 December Note 2025 HK$ million Assets Property, plant and equipment 151 Right-of-use assets 10 Customer acquisition and retention costs 1 Other non-current assets 2 Deferred tax assets 1 Cash and cash equivalents 13 11 Trade receivables and other current assets 22 Inventories 1 ────── Assets classified as held for sale 199 ----------- Liabilities Trade and other payables 79 Contract liabilities 8 Lease liabilities 9 Other non-current liabilities 17 ────── Liabilities directly associated with assets classified as held for sale 113 ----------- Net assets directly associated with disposal group 86 ══════
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28 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 20 Contingent Liabilities The Group had contingent liabilities in respect of the following: 30 June 2026 31 December 2025 HK$ million HK$ million Performance guarantees 450 452 Financial guarantees 1,156 1,067 Others 4 5 ───── ───── 1,610 1,524 ═════ ═════ The contingent liabilities mainly comprise of the performance guarantees and financial guarantees provided to the Communications Authority of Hong Kong (“CA”). The Group is required to lodge a performance bond with the CA to guarantee (i ) the network and service rollout requirement and (ii) to maintain at all times throughout the whole assignment term for payment of the Spectrum Utilisation Fee (“SUF”) payable in the ensuing five years, or the SUF payable for the remaining duration of the assignment term if it is less than five years, in respect of those spectrums which the Group elected to pay annually in 15 instalments. 21 Capital Commitments The Group had capital commitments contracted but not provided for as follows: 30 June 2026 31 December 2025 HK$ million HK$ million Property, plant and equipment 260 132 Telecommunications licences (a) 393 617 ───── ───── 653 749 ═════ ═════ (a) In 2024, a subsidiary of the Group, successfully bid (i) 10 MHz spectrum at the 900 MHz band and (ii) 20 MHz spectrum at the 2.3 GHz band (collectively, the “2024 Bidded Spectrums”), for a 15- year period (commencing June 2026 for the 900 MHz band and March 2027 for the 2.3 GHz band) at aggregate SUFs of HK$617 million. As at 31 December 2025, standby letters of credit of HK$617 million that covered the aggregate SUFs for the 2024 Bidded Spectrums were issued in favour of the CA. During the six months ended 30 June 2026, telecommunications licences of HK$224 million were recognised for the 900 MHz band, being the net present value of the consideration payable for the licences acquired. Consequently, the standby letter of credit of HK$224 million issued in favour of the CA in respect of the 900 MHz band was released.
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29 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 22 Related Parties Transactions Transactions between the Company and its subsidiaries have been eliminated on consolidation. Save as disclosed elsewhere in the interim financial statements, transactions between the Group and other related parties during the period are not significant to the Group. No transaction has been entered with the directors of the Company (being the key management personnel) during the period other than the emoluments paid to them (being the key management personnel remuneration).
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30 HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED SUPPLEMENTARY FINANCIAL INFORMATION Reconciliation of Key Financial Information between Condensed Consolidated Statement of Comprehensive Income and Management Discussion and Analysis Section Six months ended 30 June 2026 2025 (Restated) Company and Subsidiaries Joint Venture Total Company and Subsidiaries Joint Venture Total HK$ million HK$ million HK$ million HK$ million HK$ million HK$ million Continuing operations EBITDA (i) 737 26 763 741 25 766 Depreciation and amortisation (725) (20) (745) (730) (19) (749) ─────── ─────── ─────── ─────── ─────── ─────── EBIT (ii) 12 6 18 11 6 17 Interest and other finance income 77 - 77 88 - 88 Interest and other finance costs (37) (6) (43) (40) (6) (46) Share of result of a joint venture (2) 2 - (2) 2 - ─────── ─────── ─────── ─────── ─────── ─────── Profit before taxation 50 2 52 57 2 59 Taxation (41) (2) (43) (40) (2) (42) ─────── ─────── ─────── ─────── ─────── ─────── Profit for the period from continuing operations 9 - 9 17 - 17 ═══════ ═══════ ═══════ ═══════ ═══════ ═══════ (i) EBITDA is defined as earnings before interest and other finance income, interest and other finance costs, taxation, and depreciation and amortisation. (ii) EBIT is defined as earnings before interest and other finance income, interest and other finance costs, and taxation.
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31 GROUP CAPITAL RESOURCES AND LIQUIDITY Treasury Management The Group’s treasury function sets financial risk management policies in accordance with policies and procedures that are approved by the Executive Directors, and which are also subject to periodic review by the Group’s internal audit function. Its treasury policies are designed to mitigate the impact of fluctuations in interest rates and exchange rates on the Group’s overall financial position and to minimise the Group’s financial risks. The Group’s treasury function operates as a centralised service for managing financial risks, including interest rate and foreign exchange risks, and for providing cost-efficient funding to the Group and its companies. It manages the majority of the Group’s funding needs, interest rate, foreign currency and credit risk exposures. The Group uses interest rate and foreign currency swaps and forward contracts as appropriate for risk management purposes only, for hedging transactions and for managing its assets and liabilities’ exposure to interest rate and foreign exchange rate fluctuations. It is the Group’s policy not to enter into derivative transactions for speculative purposes. It is also the Group’s policy not to invest liquidity in financial products, including hedge funds or similar vehicles. Cash management and funding The Group operates a central cash management system for all of its subsidiaries. Its financing is generally derived from operating income of its subsidiaries, which is mainly used to meet funding requirements. The Group regularly and closely monitors its overall cash position and determines when external source of finance is needed. Foreign currency exposure The Group operates mobile telecommunications business principally in Hong Kong, with transactions denominated in Hong Kong dollars. It is exposed to other currency movements, primarily in terms of certain trade and other receivables, trade and other payabl es, and bank deposits denominated in United States dollars, Macau Patacas, Euros and British pounds. The Group does not currently undertake any foreign currency hedging. Credit exposure The Group’s holdings of surplus funds with financial institutions expose the Group to credit risk of counterparties. It controls its credit risk to non -performance by its counterparties through monitoring their share price movements and credit ratings as w ell as setting approved counterparty credit limits that are regularly reviewed. Capital and Net Cash As at 3 0 June 2026, the Group recorded share capital of HK $1,205 million and total equity of HK$8,909 million. As at 3 0 June 2026, the net cash of the Group was HK $3,748 million ( 31 December 202 5: HK$3,758 million), which was denominated as follows: 70% in United States dollars, 29% in Hong Kong dollars with remaining in various other currencies.
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32 Charges on Group Assets As at 30 June 2026 and 31 December 2025, except for all of the shares of a joint venture owned by the Group which were pledged as security in favour of the joint venture partner under a cross share pledge arrangement, no material asset of the Group was under any charge. Borrowing Facilities Available The Group has no committed borrowing facilities as at 30 June 2026 (31 December 2025: Nil). Contingent Liabilities As at 30 June 2026 , the Group provided performance, financial and other guarantees of HK$1,610 million (31 December 2025 : HK$1,524 million), including the performance bonds on spectrums. Capital Commitments As at 30 June 2026, the Group had total capital commitments on property, plant and equipment of HK$260 million ( 31 December 2025 : HK$132 million) and telecommunications licences of HK$393 million (31 December 2025: HK$617 million). Corporate Strategy The principal objective of the Group is to enhance long- term total return for all its stakeholders. To achieve this objective and continue to be a leading responsible business, the Group continues to focus on achieving recurring and sustainable earnings, cash flow, dividend growth without compromising the financial strength and stability of the Group. The Group executes disciplined management of revenue growth, margin and costs, capital and investments to return ratio targets, earnings and cash flow accretive activities, as well as organic growth in sectors where the Group has management experience and resources. The Group continues to focus on delivering business solutions that support social and environmental challenges and sustainability by taking action on key climate change issues, such as committing the transition to a net-zero economy, promoting diversity, inclusion and wellbeing initiatives, digital inclusion and continuous community investment. The Chairman’s Statement, and Management Discussion and Analysis contained in this announcement include discussions and analyses of the performance of the Group, and the basis on which the Group generates or preserves value in the longer term and delivers the objectives of the Group. Further information on the sustainability initiatives of the Group and its key relationships with stakeholders can be found in the sustainability report of the Group contained in the 2025 annual report of the Company.
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33 Past Performance and Forward Looking Statements The performance and results of operations of the Group contained in this announcement are historical in nature, and past performance does not guarantee future results of the Group. Any forward-looking statements and opinions contained in this announcement are based on current plans, estimates and projections, and therefore involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements and opinions. The Group, the Directors, employees or agents of the Group assume (a) no obligation to correct or update the forward-looking statements or opinions contained in this announcement; and (b) no liability in the event that any of the forward-looking statements or opinions do not materialise or turn out to be incorrect. Human Resources As at 30 June 2026 , the Group employed 935 (31 December 2025: 1,068) staff members (full -time and part-time) and on average 1,002 (1H 2025: 1,047) staff members for its Hong Kong operations during the six months ended 30 June 2026. Staff costs for the Group’s Hong Kong operations during the six months ended 30 June 2026 , including directors’ emoluments, totalled HK $179 million (1H 2025: HK$180 million). The Group fully recognises the importance of high- quality human resources in sustaining market leadership. Salary and benefits are kept at competitive levels, while individual performance is rewarded within the general framework of the salary, bonus and incentive system of the Group, which is reviewed annually. Employees are provided with a wide range of benefits that include medical coverage, provident funds and retirement plans, and long- service awards. The Group stresses the importance of staff development and provides training programmes on an ongoing basis. Employees are also encouraged to play an active role in community care activities. Sustainability The key sustainability mission of the Group is to create long-term value for all stakeholders by aligning its sustainability goals with the strategic development of its businesses. Through a collaborative approach and leveraging its supreme network and advanced technology, the Group delivers secure, seamless and cutting -edge solutions. This commitment supports the United Nations Sustainable Development Goals by promoting sustainable, inclusive and digitally -enabled societies while maintaining responsible and ethical business practice s with all stakeholders. The Group actively fosters open and transparent dialogues with a diverse array of stakeholders, including employees, customers, suppliers and business partners, shareholders and investors, banks and creditors, governments and regulators, as well as local communities and non-governmental organisations. The sustainability governance framework of the Group has established a solid foundation for upholding its sustainability commitment. This structure is deeply integrated throughout the Group, including the Board, the Sustainability Committee, the Audit Committee, the Security Committee, working groups and business units. It provides the Group with comprehensive guidance on executing sustainability strategies, establishing goals, setting targets and implementing reporting processes. Moreover, it fosters robust stakeholder relationships and ensures accountability across all business operations. The sustainability framework, approach and priorities of the Group are built upon four sustainability pillars: Governance, Sustainable Business Model & Innovation, Environment and Social. Each pillar is supported by the corresponding Group policies, leadership and collective efforts across the entire business.
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34 Review of Interim Financial Statements The interim financial statements of the Group for the six months ended 30 June 2026 have been reviewed by the auditor of the Company, PricewaterhouseCoopers, in accordance with International Standard on Review Engagements 2410 - “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Int ernational Auditing and Assurance Standards Board. The independent review report of the auditor is set out on page 8 in this announcement. The interim financial statements of the Group for the six months ended 30 June 2026 have also been reviewed by the Audit Committee of the Company. Record Date for Interim Dividend The record date for determining the entitlement of shareholders (except for holders of treasury shares, if any) to the interim dividend is Monday, 7 September 2026. In order to qualify for the interim dividend payable on Wednesday, 16 September 2026, all transfers accompanied by the relevant share certificates must be lodged with the Hong Kong Share Registrar of the Company (Computershare Hong Kong Investor Services Limited at Rooms 1712- 1716, 17th Floor, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong) for registration no later than 4:30 pm on Monday, 7 September 2026. Purchase, Sale or Redemption of Listed Securities During the six months ended 30 June 2026 , neither the Company nor any of its subsidiaries ha d purchased, sold or redeemed any of the listed securities (including sale of treasury shares) of the Company. As at 30 June 2026, there were no treasury shares held by the Company (whether held or deposited in CCASS, or otherwise). Compliance with the Corporate Governance Code The Company strives to attain and maintain high standards of corporate governance best suited to the needs and interests of the Group as it believes that an effective corporate governance framework is fundamental to promoting and safeguarding the interests of shareholders and other stakeholders and enhancing shareholder value. The Company has complied throughout the six months ended 30 June 2026 with all applicable code provisions of the Corporate Governance Code contained in Appendix C1 of the Listing Rules , as in force during the reported period.
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35 DEFINITIONS In this announcement, unless the context otherwise requires, the following expressions have the following meanings: “AI” artificial intelligence “Board” the Board of Directors “CACs” expensed customer acquisition and retention costs plus the related staff costs, rental and other expenses “CCASS” the Central Clearing and Settlement System established and operated by Hong Kong Securities Clearing Company Limited “Company” or “HTHKH” Hutchison Telecommunications Hong Kong Holdings Limited, a company incorporated in the Cayman Islands with limited liability, whose shares are listed on the Main Board of the Stock Exchange (Stock Code: 215) “Director(s)” director(s) of the Company “EBIT / LBIT” earnings or losses before net interest and other finance income, taxation, adjusted to include the Group’s proportionate share of joint venture’s EBIT “EBITDA” earnings before net interest and other finance income, taxation, depreciation and amortisation, adjusted to include the Group’s proportionate share of joint venture’s EBITDA “Group” the Company and its subsidiaries “HK$” Hong Kong dollars, the lawful currency of Hong Kong “HK” or “Hong Kong” the Hong Kong Special Administrative Region of the People’s Republic of China “IAS” International Accounting Standards “interim financial statements” unaudited condensed consolidated interim financial statements “Listing Rules” the Rules Governing the Listing of Securities on the Stock Exchange “net customer service margin” net customer service revenue less direct variable costs (including interconnection charges and roaming costs)
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36 DEFINITIONS (continued) “Postpaid gross ARPU” monthly average spending per postpaid user including a customer’s contribution to mobile devices and other products in a bundled plan “Postpaid net AMPU” average net margin per postpaid user; postpaid net AMPU equals postpaid net ARPU less direct variable costs (including interconnection charges and roaming costs) “Postpaid net ARPU” monthly average spending per postpaid user excluding revenue related to hardware and other product under the non- subsidised hardware and other product business model “service EBITDA / EBIT / LBIT” EBITDA / EBIT / LBIT excluding standalone hardware and other product sales margin “Stock Exchange” The Stock Exchange of Hong Kong Limited As at the date of this announcement, the Directors are: Chairman and Non-executive Director: Independent Non-executive Directors: Mr FOK Kin Ning, Canning Mr CHAN Tze Leung Executive Directors: Ms CHOW Ching Yee, Cynthia Ms IM Man Ieng Mr LUI Dennis Pok Man Mr IP Yuk Keung (Executive Deputy Chairman) Mr HO Wai Wing, Raymond Alternate Director: Mr MA Lai Chee, Gerald Non-executive Directors: (Alternate to Mr LAI Kai Ming, Dominic) Mr WOO Chiu Man, Cliff (Non-executive Deputy Chairman) Mr LAI Kai Ming, Dominic (also Alternate to Mr FOK Kin Ning, Canning and Ms Edith SHIH) Ms Edith SHIH