Asian Citrus Holdings (00073) reported FY26 revenue of RMB 82.02 million, up 8.80% year on year, driven by a 50.90% surge in its Air-conditioners and Other Electronic Appliances Distribution Business, which now contributes 77.78% of group turnover.

Loss before tax narrowed 7.01% to RMB 26.42 million, yet non-cash charges pushed the loss attributable to shareholders up 11.72% to RMB 26.83 million (FY25: RMB 24.00 million). Basic loss per share deepened to RMB 1.800 from RMB 1.611.

Key drivers of the bottom-line deterioration included: • RMB 2.92 million impairment of goodwill linked to the Fruit Distribution Business. • RMB 1.41 million impairment of an online-platform intangible asset. • RMB 0.27 million write-down of plantation property, plant and equipment. • RMB 0.52 million fair-value loss on U.S.-listed equities versus a RMB 3.60 million gain a year earlier.

Segment highlights • Air-conditioners & Other Electronic Appliances Distribution: Revenue rose to RMB 63.77 million, buoyed by government subsidies for energy-efficient appliances and the launch of commercial freezer sales. • Fruit Distribution: Sales fell 41.50% to RMB 16.81 million amid intensified competition and higher logistics costs. • Plantation: Weather-affected passion-fruit harvest cut revenue 62.40% to RMB 0.60 million; cultivation of crispy honey kumquats commenced but no contribution yet. • Sales & Distribution of Consumables: Revenue declined 44.80% to RMB 0.85 million on weak demand. • Cryptocurrencies trading generated no revenue after RMB 1.32 million in FY25.

Balance-sheet metrics weakened. Total assets contracted 26.70% to RMB 106.03 million, cash and cash equivalents fell 41.10% to RMB 5.61 million, and total equity dropped 24.30% to RMB 83.88 million. Net gearing rose to 5.0% from 1.2% as at June 2025. The board recommended no dividend.

Post-balance-sheet event: On 14 September 2026 the group sold 590 Microsoft shares for roughly RMB 2.00 million.

Management will continue cost-containment measures, monitor segment viability—particularly in fruit distribution—and seek new opportunities to diversify revenue and restore profitability.