Readboy Education Holding Company Limited (READBOY, 02385) released its unaudited results for the six months ended 30 June 2026.

Revenue fell 58.99% year on year to RMB 74.53 million (1H 2025: RMB 181.97 million), driven by softer demand across core product lines. Gross profit declined 72.93% to RMB 10.92 million, and gross margin contracted to 14.6% from 22.2% in the prior-year period, reflecting heavier discounts on legacy tablet inventory and intensified price competition.

Cost controls contained losses: • Selling & distribution expenses fell 60.07% to RMB 16.15 million. • R&D expenses dropped 43.39% to RMB 12.25 million. • Administrative expenses rose 10.09% to RMB 23.44 million.

Loss before tax narrowed 29.88% to RMB 31.49 million (1H 2025: RMB 44.90 million). Net loss attributable to shareholders decreased 29.59% to RMB 31.29 million.

Segment performance (revenue, YoY): • Personal student tablets: RMB 52.66 million (-65.28%) • Digital & smart classroom solutions: RMB 6.58 million (+32.08%) • Wearable products: RMB 6.28 million (-47.64%) • Other products: RMB 6.16 million (-33.71%) • Advertising & content licensing: RMB 2.86 million (-30.65%)

Financial position at 30 June 2026: • Total assets: RMB 318.61 million (31 Dec 2025: RMB 414.93 million) • Cash and cash equivalents: RMB 90.82 million (31 Dec 2025: RMB 155.68 million) • Interest-bearing bank borrowings: RMB 39.91 million (31 Dec 2025: RMB 74.71 million) • Net assets: RMB 168.92 million (31 Dec 2025: RMB 198.28 million)

Readboy continued to advance its “AI + Education” strategy, upgrading its “AI Smart Learning Room” to “AI Aixue Centre” and rolling out the “Magic Classroom” interactive course solution. As of 30 June 2026, AI Aixue Centre and its predecessor operated through 1,213 partner sites, while in-school smart education products had been deployed or trialed in roughly 833 schools across 269 regions.

The Board declared no interim dividend for the period and reported that the company maintained sufficient public float.

The Board and Audit Committee confirmed ongoing compliance with Hong Kong’s Corporate Governance Code, with the chairman and CEO roles remaining combined under Mr. Qin Shuguang to ensure unified leadership amid challenging market conditions.