Maxnerva Technology Services Limited reported a sharp turnaround for the six months ended 30 June 2026, posting a net profit of RMB 8.85 million versus a RMB 2.38 million loss a year earlier. Revenue was stable at RMB 336.33 million.
Financial Highlights • Revenue: RMB 336.33 million, broadly flat year-on-year. • Net profit: RMB 8.85 million, reversing a prior-year loss. • No interim dividend declared. • Gross margin: 17.3%, up from 14.8% in 1H 2025. • Net cash: RMB 136.40 million; new unsecured RMB 26.00 million one-year bank loan drawn. Committed banking facilities expanded to RMB 82.00 million. • Gearing ratio remained at zero.
Segment Performance 1. Digital Industry Business – Revenue rose 9% to RMB 238.20 million. – Segment profit climbed 26% to RMB 19.60 million, benefiting from customer capex for new capacity in the US, Vietnam, Taiwan and India.
2. Digital Life Business – Revenue declined 20% to RMB 98.10 million. – Segment profit fell 55% to RMB 2.20 million, hit by higher memory costs and weak demand for smart office equipment. Digital signage met expectations.
Working-Capital Metrics • Inventory: RMB 80.40 million; turnover improved to 51 days (FY 2025: 61 days). • Trade and lease receivables: RMB 265.70 million; turnover lengthened to 139 days (FY 2025: 114 days) due to slower customer payments amid macro uncertainty.
Liquidity • Current ratio: 2.58 (31 Dec 2025: 2.86). • All borrowings are RMB-denominated, floating-rate, unsecured and due within one year.
Strategic Investments • GRC Sino-Green Fund V, L.P.: carrying value RMB 31.14 million, unrealised gain of RMB 1.30 million in 1H 2026. • InnoMax Medtech Limited: stake reduced to 13.97% in July 2026 following partial disposal.
Post-Balance-Sheet Event On 27 July 2026 Foxconn Far East Limited, a wholly owned unit of Hon Hai Precision Industry, agreed to acquire a 40.46% stake in Maxnerva from FSK Holdings and FDG Fund for HK$152.37 million, triggering a mandatory general offer for remaining shares under Hong Kong’s Takeovers Code.
Outlook Management expects the Digital Industry unit to maintain momentum in 2H 2026, supported by deliveries of several large projects and sustained global demand for new data centres. The company intends to allocate additional resources to the US, Taiwan, Vietnam and India. For the Digital Life unit, new and existing digital signage projects are expected to offset weakness in smart office equipment, where mitigation measures are under review.
Governance and Compliance The Audit Committee reviewed the interim results; no share options were granted or exercised during the period. The company remained in compliance with Hong Kong’s Corporate Governance Code, with one disclosed deviation relating to the external company secretary arrangement.