AMCO United Holding Limited reported a sharp turnaround for the six months ended 30 June 2026, driven by substantial fair-value gains from its Hong Kong equity portfolio.

Financial highlights • Revenue climbed 29.5 % year on year to HK$35.07 million, lifted by an HK$8.30 million increase in Medical Products sales. • Group gross profit fell 39.3 % to HK$5.11 million as gross margin contracted to 14.6 % (1H25: 30.9 %), reflecting higher cost of sales. • Other income and gains surged to HK$38.76 million (1H25: HK$3.45 million), almost entirely from realised and unrealised fair-value gains on held-for-trading Hong Kong equities. • Distribution costs were eliminated (HK$0 versus HK$2.49 million a year earlier); administrative expenses declined 10.9 % to HK$5.69 million. • Finance costs were stable at HK$1.80 million, relating to bond interest. • Net profit attributable to shareholders jumped to HK$36.37 million (1H25: HK$1.15 million), reversing last year’s modest profit.

Segment performance • Medical Products Business: Revenue rose 37.6 % to HK$30.36 million (86.6 % of group total), but segment profit contracted to HK$0.08 million (1H25: HK$3.29 million) as margins narrowed. • Money Lending Business: Interest income slipped 7.8 % to HK$4.71 million; nevertheless, cost containment lifted the segment to a HK$2.63 million profit (1H25: HK$1.30 million loss). Outstanding loan book stood at HK$120.30 million at period-end. • Securities Investment: Net gains of HK$38.76 million (1H25: HK$3.45 million) propelled segment profit to HK$38.74 million. The portfolio comprised 31 Hong Kong-listed equities valued at HK$150.16 million, equal to 59.2 % of total assets. • Plastic Products Business remained dormant, reporting negligible activity and a HK$0.95 million loss.

Balance sheet and liquidity • Net assets increased 30.5 % since year-end 2025 to HK$155.59 million. • Cash and bank balances rose to HK$10.61 million (31 Dec 2025: HK$7.21 million). • Bond payables were unchanged at HK$24.90 million, comprising HK$4.90 million maturing in July 2026 and HK$20.00 million due March 2030. • Net gearing eased to 9.2 % (31 Dec 2025: 14.8 %). • Current ratio improved to 3.3x (31 Dec 2025: 2.6x).

Outlook and strategy Management intends to expand service coverage and product diversity within the Medical Products segment while maintaining strict cost control and operational efficiency. The Group will also continue a prudent approach to credit risk in its Money Lending operations and aims to further diversify its equity portfolio amid Hong Kong market volatility. No interim dividend was declared.

There were no post-period material events and no share buy-backs during the half year.