Maxicity Holdings Limited reported interim results for the six months ended 30 June 2026, highlighting stronger margins and earnings despite a revenue contraction.

Financial performance • Revenue fell 14.5% year-on-year to HK$112.32 million, primarily due to fewer large-scale contracts (≥ HK$10 million) and reduced public-sector work. • Gross profit rose 39.7% to HK$10.98 million as the gross margin widened to 9.8% (1H 2025: 6.0%), reflecting a sharper decline in direct labour and material costs than in revenue. • Profit attributable to shareholders increased 33.1% to HK$4.92 million. • Basic and diluted EPS improved to HK1.23 cents (1H 2025: HK0.92 cents). • No interim dividend was declared.

Cost and expenses • Cost of services dropped 17.9% to HK$101.34 million. • Administrative expenses edged up 10.6% to HK$5.34 million, mainly on higher staff costs. • Finance costs linked to lease liabilities rose to HK$40,000 (1H 2025: HK$30,000).

Cash flow and balance sheet • Operating cash inflow surged to HK$20.79 million (1H 2025: HK$6.84 million), aided by lower contract assets and higher payables. • Capital expenditure was HK$1.06 million. • Cash and bank balances stood at HK$101.53 million, up from HK$81.73 million at end-2025. • Net current assets totalled HK$94.57 million; net assets reached HK$99.36 million. • Gearing remained low at 1.4% following recognition of new lease liabilities.

Operational highlights • The slope-works contractor handled 17 projects worth HK$1.03 billion during the period, completing two contracts (HK$56.5 million) and carrying 15 ongoing projects valued at HK$971.6 million. • Public-sector revenue contribution fell, while the number of private-sector projects rose to nine from five a year earlier.

Post-period developments On 22 June 2026, GreenAir Energy Global Limited acquired 75% of Maxicity for HK$196.35 million (HK$0.6545 per share) and subsequently triggered a mandatory unconditional cash offer. After the offer closed on 13 August 2026, GreenAir and parties in concert held 83.5% of issued shares, reducing public float to 16.5%. The Stock Exchange granted a temporary waiver until 14 September 2026 for Maxicity to restore the 25% minimum public float requirement.

Outlook Management remains cautious for the second half of 2026, citing global economic uncertainties and a conservative approach to bidding for new projects.