Maiyue Technology (2501) H1 2025 earnings summary

Executive summary

• H1 revenue rose 9.3% YoY to RMB24.083m, while gross profit fell 14.6% to RMB6.684m and gross margin declined to 27.8% from 35.5%.

• Net loss narrowed to RMB10.676m from RMB15.032m, supported by RMB6.370m in government grants and a RMB4.160m impairment reversal.

Financial highlights

• Revenue was RMB24.083m versus RMB22.040m; cost of sales increased 22.4% to RMB17.399m and gross profit declined to RMB6.684m from RMB7.830m.

• Operating loss narrowed to RMB1.127m from RMB11.966m; loss before tax was RMB9.705m versus RMB17.994m, and net loss was RMB10.676m versus RMB15.032m.

• Other income rose to RMB6.630m from RMB1.469m, including government grants of RMB6.370m versus RMB0.669m.

• Basic and diluted loss per share improved to RMB0.02 from RMB0.03; finance costs increased 33.6% to RMB7.503m.

• Income tax was an expense of RMB0.971m, compared with a credit of RMB2.962m in the prior-year period.

Outlook and guidance

• Priorities include continued R&D, improving self-developed products through tertiary-institution collaboration and marketing, and pursuing customers and partners in China and Southeast Asia.

• Cross-border AI cloud computing and digital-economy opportunities include proposed AI computing infrastructure and education technology deployments in Southeast Asia.