Baiying Holding (Baiying Holdings Group Limited) released unaudited interim results for the six months ended 30 June 2026. Key metrics show a sharp turnaround driven by expanded financial services and packaging paper trading, although the company’s shares remain suspended on GEM since 9 June 2025 pending re-compliance with Rule 17.26. Financial Performance • Revenue surged to RMB40.64 million, up 142% from RMB16.76 million a year earlier. • Net profit rose to RMB15.46 million, compared with RMB4.77 million in the prior-year period that was weighed by discontinued operations. Profit before tax more than doubled to RMB20.92 million. • Gross profit reached RMB31.60 million, representing a margin of 77.8% (H1 2025: 70.4%). Segment Breakdown • Financial services contributed RMB33.96 million, representing 83.6% of group revenue. Within this, finance-leasing interest income was RMB15.90 million and financial-information services delivered RMB18.06 million. • Packaging and paper products trading generated RMB6.68 million, accounting for 16.4% of revenue with a slim gross margin of 1.2%. Cost Dynamics • Interest expenses climbed to RMB3.87 million (H1 2025: RMB0.88 million) owing to higher average borrowings. • Administrative expenses increased 42.1% to RMB4.08 million, reflecting higher staff, depreciation and consultancy costs. • Net impairment losses rose to RMB2.62 million from RMB0.09 million, mainly linked to loans and receivables. Balance-Sheet Highlights • Total assets grew to RMB543.21 million from RMB384.09 million at end-2025, supported by a rise in loans and receivables and cash. • Borrowings expanded to RMB225.59 million (31 Dec 2025: RMB93.40 million), pushing the gearing ratio to 0.81 times versus 0.35 times six months earlier. • Cash and cash equivalents stood at RMB44.77 million, up from RMB34.46 million. • Net assets improved to RMB279.03 million, compared with RMB263.57 million at year-end 2025. Operational Metrics • Finance-lease receivables increased to RMB3.15 million (31 Dec 2025: RMB0.95 million). Loans and receivables, mainly from sale-leaseback transactions, rose to RMB476.58 million (31 Dec 2025: RMB333.48 million). • Average interest rates during the period were 7.2%–12.8% for direct finance leasing and 6.3%–15.6% for sale-leaseback deals. Trading Suspension Status Trading in Baiying Holding’s shares remains suspended pending fulfilment of the Stock Exchange’s resumption guidance. The company will provide further updates as appropriate and advises shareholders and potential investors to exercise caution when dealing in its shares.