Hong Kong Technology Venture’s May transactions up over 20%

Hong Kong Technology Venture Company Ltd. (1137.HK), operator of the HKTVmall online shopping platform, on Thursday reported its monthly gross merchandise volume (GMV) reached HK$827 million ($106 million) in May, up 27% month-over-month and 21.1% year-over-year. Its average daily GMV stood at HK$26.7 million, up 23% month-over-month and 21.4% year-over-year.

Average daily orders hit 54,100 during the month, up 7.6% month-over-month and 13.7% year-over-year. And the average order value was HK$492, up 13.9% month-over-month and 6.3% year-over-year.

The company said that it ran a 15% discount campaign for a total of 10 days across multiple weekends and public holidays in May, helping to fuel the GMV growth. It added that April offered a lower base of comparison, as outbound travel over the Easter holiday that month weighed on local consumption.

Shares of Hong Kong Technology Venture opened higher on Friday and were up 5% at HK$1.05 by the midday break. The stock is down nearly 50% from its 52-week high.

By Lau Chi Hang

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