APE plans to expand into vending machines
Asia Pioneer Entertainment Holdings (APE) has said that due to the ongoing pandemic and its effect on the industry, the group has “began implementation of its diversification strategy under SmartCom into smart VM operations in Macau SAR.”
According to a company statement, the group has extensive experience maintaining, repairing and operating consumer-related machines, understands viable locations such as hotels or visitor sites in Macau, adding that there is potential in the growing smart vending market.
“During the period, the group has installed three smart VMs in Macau SAR under our SmartCom brand,” read APE’s statement. “SmartCom has also signed consignment and purchase agreements with several Macau-branded products for our smart VMs. We are hopeful that more of smart VMs can be rolled out to various locations throughout Macau SAR in the second half of 2021.”
Diversification is one of the possible ways the group is trying to offset the strain the ongoing pandemic has on its business.
APE’s revenue decreased by 75% to HK$3m ($385,452) for the six months ended 30 June 2021. Gross profit dropped by 94% to HK$0.2m.
Operating expenses were HK$9.5m, a 9% decline. Loss for H1 2021 was HK$9.4m, while revenue from electronic table games was HK$1.4m.
Technical sales and distribution of EGE for H1 was HK$1.9m, almost an 80% decline from the HK$9.4m recorded last year.
Consultancy and technical services dropped 41% year-on-year, to HK$0.9m. Repair services, meanwhile, saw an 80% decline to HK$0.2m.
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