Man Yue Technology Holdings Limited (Man Yue Tech) reported a sharp rebound in earnings for the six months ended 30 June 2026, underscoring stronger demand for its high-performance capacitors and disciplined cost controls.

Revenue and Profitability • Revenue climbed to HK$918.61 million, up 12.50% year-on-year. • Gross profit rose 21.29% to HK$166.49 million, lifting gross margin to 18.1% from 16.8%. • EBITDA improved 16.11% to HK$77.39 million. • Profit attributable to shareholders doubled to HK$9.19 million (+108.6%), translating into basic earnings per share of 1.92 HK cents (1H 2025: 0.93 HK cents).

Operating Performance The core manufacturing, selling and distribution of electronic components generated HK$918.61 million in external sales and delivered an operating profit of HK$29.36 million, a 3.2% margin. The smaller investment segment posted an operating loss of HK$0.79 million after absorbing fair-value adjustments on investment properties and financial assets.

Cash Flow and Liquidity • Operating cash outflow totalled HK$64.83 million versus an inflow of HK$40.94 million a year earlier, reflecting higher working-capital needs. • Capital expenditure reached HK$42.09 million, mainly on property, plant and equipment, alongside HK$8.94 million for right-of-use assets. • Cash and cash equivalents stood at HK$167.95 million on 30 June 2026, down from HK$187.52 million at end-2025. • Total bank and other borrowings rose to HK$1.28 billion (31 Dec 2025: HK$1.12 billion), pushing the net gearing ratio to 67.2% from 60.5%. • Net working capital expanded to HK$212.30 million (31 Dec 2025: HK$170.90 million), while the current ratio inched up to 1.13x.

Strategic Progress During the period, Man Yue Tech advanced its Lithium Carbon Capacitor (LCC) programme from R&D to initial commercial rollout, supported by a fully automated high-capacity production line. Management cited robust demand across electric mobility, AI infrastructure, power grids and telecommunications as key growth catalysts.

Outlook The company expects high-performance capacitors to remain supply-constrained in specialised markets. Management plans to deepen collaboration with ecosystem partners, maintain stringent cost discipline and leverage its proprietary technologies to capture opportunities in high-growth sectors.

Dividend No interim dividend was declared for the first half of 2026 (1H 2025: Nil).

Corporate Governance Man Yue Tech stated it complied with the Hong Kong Listing Rules’ Corporate Governance Code and the Model Code for securities dealings throughout the reporting period. The interim results were reviewed by the Audit Committee and the independent auditor, KPMG.