USAS BUILDING (02671) has released its interim results for the six months ended June 30, 2026. The group recorded revenue of RMB 452 million, representing a year-on-year decrease of 68.28%. Profit attributable to owners of the company stood at RMB 1.502 million, a sharp decline of 97.6% compared to the same period last year. Earnings per share amounted to RMB 0.01.

During the reporting period, revenue from prefabricated steel structure building subcontracting services reached approximately RMB 317 million, down 74.6% year-on-year. The decline was primarily attributed to two factors. Firstly, order cycles from major customers fluctuated significantly: in the 2025 fiscal year, the group's core key customers released orders in a concentrated manner, which pushed the revenue base for the corresponding period last year to a historical high. In the 2026 fiscal year, the total order volume from these major customers dropped substantially compared to the previous year. With the high-base support no longer in effect, the group and its subsidiaries experienced a notable year-on-year reduction in revenue. Secondly, there was a delay in the commencement of new orders and the deferral of revenue recognition: new contracts signed by the group in 2026 were finalized relatively late in the year, with project initiation and delivery progress mainly concentrated in the second half of 2026. As revenue recognition is tied to project acceptance and delivery milestones, the first half of the year failed to generate sufficient output to bridge the gap created by the high base from the prior-year period. The group currently maintains a robust order book, and newly contracted projects have successively entered the construction or delivery phase.