Asia Pioneer focused on diversification efforts after taking 75% revenue hit in 1H21

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Macau-based electronic gaming product distributor Asia Pioneer Entertainment Ltd (APE) says it will continue to focus on diversification via its new vending machine business after reporting a 74.6% decline in revenue through its traditional business segments to HK$11.8 million (US$1.5 million) in the six months to 30 June 2021.

According to the companys unaudited financial results, APE recorded a HK$9.4 million (US$1.2 million) loss in H1 with revenue in the Technical Sales and Distribution of EGE segment down 79.6%, in Consulting and Technical Services down 40.7% and Repair Services down 79.9%.

In response, APE has launched a new business operating smart vending machines in Macau, with ambitions to expand into China and across the Greater Bay Area. The company said this allows it to take advantage of its extensive experience maintaining, repairing and operating consumer-related machines, and its intimate local knowledge and relationships with locations such as hotels, malls and visitor sites throughout Macau.

The smart vending machines business as part of the growing smart vending market aims to provide convenience to travellers and mobile consumers, APE said. it is a fast growing market.

Smart vending machines have benefitted from advances in cashless payment and new information technologies, and have proven to be highly effective in selling and distributing products to consumers.

The Group believes this diversification into smart VMs operations will help broaden and enhance the Groups overall business.

APE currently has three smart vending machines installed in Macau.