SY Holdings Group Limited (SY) reported resilient interim results for the six months ended 30 June 2026, underscoring progress in its “platform-based, asset-light” strategy.

Financial Performance • Revenue and income from principal activities edged up 1.00% year-on-year (YoY) to RMB 421.69 million. • Revenue from platform-based technology services rose 2.00% to RMB 217.08 million, lifting its contribution to 51.5% of total revenue. • Net profit after tax increased 4.00% to RMB 211.14 million; adjusted net profit improved 4.90% to RMB 213.50 million. • Finance costs declined 4.90% to RMB 116.57 million, supported by an 8.70% YoY reduction in average borrowings. • Operating expenses expanded 32.70% to RMB 163.43 million, pushing the cost-to-income ratio (excluding material and one-offs) to 38.8% from 29.5%. • Basic and diluted earnings per share remained at RMB 0.20. • No interim dividend was declared.

Business Scale and Mix • Cumulative intelligent facilitation volume reached RMB 367.30 billion, up 32% YoY; platform-facilitated transactions accounted for over 87% of total volume. • Platform client base more than doubled to 44,189, with small and medium-sized enterprises making up over 96%. Funding partners rose 22.1% to 221. • E-commerce segment accelerated: 20,298 new customers onboarded (≈127-fold YoY rise), driving cumulative e-commerce business volume past RMB 10.00 billion (+268% YoY).

Balance Sheet and Liquidity • Supply chain assets at fair value through OCI grew 31.40% YoY to RMB 4.16 billion; average interest yield slipped 0.6 ppt to 7.8%. • Borrowings fell 11.30% YoY to RMB 4.21 billion; gearing ratio (total liabilities/total equity) stood at 1.72 (31 Dec 2025: 1.63). • Cash and cash equivalents increased to RMB 999.28 million from RMB 712.15 million six months earlier. • Net operating cash inflow decreased to RMB 1.38 billion (1H 2025: RMB 3.56 billion), reflecting lower cash collections from supply chain assets.

Operational Developments • Cumulative R&D investment surpassed RMB 0.33 billion; R&D staff represent 33% of headcount. • International operations expanded via the Singapore hub, adding ties with 36 overseas financial institutions and implementing projects in Southeast Asia and Japan. • The Wuxi “AI Future City” base became operational, aimed at accelerating AI-driven industrial supply-chain applications.

Outlook Management will continue to deepen the platform-based model, scale e-commerce financing, and broaden overseas cooperation, while maintaining a technology-led approach to support SME clients and pursue sustainable growth.