AGTech’s Macau units report mixed Q2 results in unaudited trial balances

AGTech Holdings Limited has released unaudited trial balances for the second quarter of 2025 for its key Macau subsidiaries, Macau Pass S.A. and Ant Bank (Macao) Limited, revealing contrasting financial performances in the six months ending June 30, 2025.

Published earlier this week in the Official Gazette (BO), the release complies with the Financial System Act of Macau.

Macau Pass S.A., a wholly-owned subsidiary and leading payment service provider in Macau, reported total income of approximately MOP173.69 million against total expenses of about MOP169.21 million.

This translates to a modest operating margin of around 2.58% during the period.

Its MPay app remains a dominant digital payment platform in Macau, offering integrated services and driving significant transaction volume. According to the most recent data available from the Monetary Authority of Macao (AMCM), 90,390,721 mobile payment transactions were made in the first quarter of 2025.

In contrast, Ant Bank (Macao), an indirect non-wholly-owned licensed commercial digital bank, recorded total income of approximately MOP78.43 million while incurring higher total expenses of MOP88.81 million. This translates to an operating loss of roughly 13.2% of total income.

Ant Bank (Macao) primarily serves Macau residents and small to medium-sized enterprises with a suite of digital banking and payment services, including deposits, loans, transfers, cross-border payments, and wealth management.

In its trial balance, loans make up a significant portion of its assets, totaling MOP351.8 million. On the liability side, the bank holds substantial demand deposits – MOP1.009 billion in local currency and MOP607 million in foreign currency – reflecting a large volume of customer funds readily available for daily operations.

Moreover, Ant Bank maintains more than MOP1.6 billion in fixed deposits at other financial institutions. Its time deposits are divided between MOP518 million in local currency and MOP1.63 billion in foreign currency.

Both sets of trial balance reports comply with Macau’s Financial System Act and local financial reporting standards, which deviate from the Hong Kong Financial Reporting Standards used by the company for consolidated accounts. AGTech’s filing to the Hong Kong Exchanges and Clearing Limited (HKEX) notes that these figures may be subject to adjustments when consolidated into the Group’s accounts.