Midland Holdings (02671) announced interim results. Profit attributable to shareholders of 1.502 million yuan decreased by 97.6% year-on-year

According to the Zhitong Finance App, Midland Holdings (02671) announced interim results for the six months ended June 30, 2026. The group obtained revenue of RMB 452 million (same unit), a year-on-year decrease of 68.28%; profit attributable to company owners was 1.502 million yuan, a year-on-year decrease of 97.6%; profit per share.

During the reporting period, revenue from prefabricated steel construction subcontract services was approximately RMB 317 million, a decrease of 74.6%. This decrease is mainly due to fluctuations in the order cycle of major customers: in fiscal year 2025, the Group's core major customers concentrated on releasing orders, leading to a historically high revenue base for the same period last year. In the 2026 fiscal year, the total number of orders from this major customer dropped sharply compared to the same period last year. Due to the lack of support from the previous year's high base, the Group and its subsidiaries experienced a significant year-on-year decrease in revenue; and delays in starting new orders and delayed revenue confirmation: The Group signed new orders in 2026 were signed relatively late, and the project launch and delivery schedule was mainly concentrated in the second half of 2026. Since revenue recognition was subject to project acceptance/delivery milestones, effective output was not generated in the first half of the year to fill the gap caused by the high base for the same period last year. The Group currently has sufficient orders, and newly signed projects have entered the construction or delivery stage one after another.