Maxnerva Technology Services Limited (MAXNERVA TECH, 01037) reported FY2025 revenue of RMB707.60 million, up 27.00% year-on-year, driven by continued expansion in both Digital Industry and Digital Life operations.
The Group posted a statutory net loss of RMB14.60 million, versus a RMB12.44 million loss in FY2024. The shortfall stemmed mainly from a RMB30.02 million fair-value decline on minority investments, including a RMB29.80 million full impairment of SigmaSense. Stripping out this non-cash hit, a RMB1.70 million disposal gain on InnoMax and prior-year IP impairments, adjusted (non-HKFRS) profit rose to RMB13.70 million from RMB7.00 million.
Segment results highlighted solid operating momentum: • Digital Industry Business revenue surged 34.00% to RMB435.00 million, with segment profit up 49.00% to RMB28.00 million, supported by smart-manufacturing projects and an AI data-centre contract in Taiwan. • Digital Life Business achieved 17.00% revenue growth to RMB272.60 million and lifted segment profit 38.00% to RMB12.50 million, helped by new digital-signage deployments and a rebound in smart-office equipment sales.
Working-capital efficiency improved. Inventory shrank to RMB76.70 million (FY2024: RMB123.30 million) and turnover shortened to 61 days from 80 days. Trade and lease receivable turnover improved to 114 days despite balances rising to RMB252.00 million.
The balance sheet remained unlevered, with cash and equivalents of RMB112.90 million and no bank borrowings. The current ratio strengthened to 2.86 (FY2024: 2.50). Total assets stood at RMB594.20 million, shareholders’ equity at RMB404.80 million.
Sales to Hon Hai Group and affiliates accounted for 50% of FY2025 revenue (RMB352.22 million). Geographically, the PRC contributed 38.49% of turnover, followed by Taiwan (14.28%) and Vietnam (14.07%).
The Board proposed no final dividend.
Looking ahead to 2026, management signalled “cautious optimism,” citing opportunities in non-PRC manufacturing relocations and global data-centre build-outs, with resource deployment focused on the US, Taiwan, Vietnam and India.