Maiyue Technology (2501) H2 2025 earnings summary

Executive summary

• FY2025 revenue rose 46.6% YoY to RMB402.8m, while gross profit edged down 1.3% to RMB67.7m as gross margin fell 8.2 percentage points to 16.8%.

• Profit for the year was RMB5.4m versus RMB0.1m in FY2024; basic EPS rose to RMB1.14 cents from RMB0.09 cents.

Financial highlights

• Revenue increased from RMB274.7m to RMB402.8m; cost of sales rose 62.6% to RMB335.1m, outpacing revenue growth.

• Operating profit increased to RMB24.5m from RMB11.7m; profit before tax was RMB6.4m versus a FY2024 loss of RMB1.8m.

• Net profit margin rose to 1.3% from approximately 0.0%; parent-attributable profit was RMB5.7m versus RMB0.4m.

• Other income increased to RMB12.7m from RMB6.0m, including government grants of RMB10.7m versus RMB4.4m.

Outlook and guidance

• Strategic priorities include AI-agent technology and interactive hardware such as AI glasses, AR glasses and holographic projection cabins for industry applications.

• Target applications include crop monitoring, industrial inspection, cultural tourism navigation, and mental-health support; expansion ambition spans China and ASEAN.