Maiyue Tech released its audited results for the year ended 31 December 2025, reporting a sharp top-line expansion alongside margin compression and a return to meaningful profitability.

Revenue and Segment Performance • Group revenue rose 46.6% year on year to RMB 402.81 million (FY 2024: RMB 274.72 million), driven primarily by Integrated IT Solution Services, which grew 59.1% to RMB 297.51 million. • Hardware & Software Sales advanced 28.3% to RMB 94.61 million. • Stand-alone IT Services declined 23.1% to RMB 10.69 million.

Profitability • Gross profit slipped 1.3% to RMB 67.69 million, as the gross margin narrowed to 16.8% from 25.0% a year earlier. Management attributes the contraction to higher hardware input costs, notably rising graphics card prices, and a greater share of lower-margin solution projects. • Operating profit increased 110.3% to RMB 24.51 million, aided by a doubling of other income to RMB 12.75 million and a 69.4% drop in R&D expenses to RMB 1.89 million. • Finance costs climbed 33.9% to RMB 16.20 million, reflecting higher borrowing costs. • Net profit rebounded to RMB 5.44 million from RMB 0.11 million in FY 2024, lifting the net margin to 1.3% (FY 2024: 0.0%). • Basic EPS improved to RMB 1.14 cents versus RMB 0.09 cents.

Balance Sheet and Cash Flow • Cash and cash equivalents stood at RMB 58.96 million at 31 December 2025, up from RMB 40.50 million a year earlier. • Trade receivables expanded 25.9% to RMB 545.48 million, with RMB 83.91 million outstanding for more than one year. Approximately RMB 34.08 million of receivables are due after more than 12 months. • Net assets slipped marginally to RMB 317.71 million (31 December 2024: RMB 319.36 million) after recognising a RMB 5.97 million fair-value loss on equity investments routed through other comprehensive income. • Total interest-bearing loans increased to RMB 210.86 million (31 December 2024: RMB 222.36 million current; RMB 21.29 million non-current).

Expenses • Selling expenses were broadly flat at RMB 6.47 million. • Administrative expenses rose 7.4% to RMB 27.46 million, mainly on higher personnel and travel costs. • Impairment losses on trade receivables and contract assets eased to RMB 20.11 million (FY 2024: RMB 24.71 million).

Dividend The Board proposed no final dividend for FY 2025.

Operational Highlights During 2025, branded “the Year of Artificial Intelligence,” Maiyue Tech accelerated its AI-centric strategy: – Launched the Maiyue Intelligent Computing Power All-in-One Machine and commenced production at the Chuangpeng Cloud Intelligent Manufacturing (Guangxi) Base. – Built a multibillion-sentence Chinese–ASEAN bilingual corpus and released AI translation devices targeting Southeast Asian markets. – Expanded smart education platforms to roughly 50 thousand schools in Guangxi and rolled out AI-driven digital governance solutions, including a contract review platform. – Strengthened partnerships with Huawei and regional academic institutions, becoming Huawei’s first ICT authorised service provider in Guangxi. – Entered new markets in Vietnam, Malaysia, Cambodia and Thailand through cloud infrastructure and AI translation initiatives.

Outlook Management intends to deepen AI deployment across agriculture, manufacturing, tourism and mental-health applications, leveraging AI agents, AR/VR wearables and holographic projection technologies to drive future growth.

The company maintains that it met the Hong Kong Stock Exchange’s minimum 25% public-float requirement and reported no post-balance-sheet events requiring disclosure.