Ming Yuan Cloud (00909) has released its interim results for 2026, reporting revenue of 525 million yuan, a year-on-year decrease of 13.3%. Gross profit came in at 416 million yuan, down 14.4% from the prior year, while profit for the period stood at just 503,000 yuan, marking a sharp 96.3% decline.

Adjusted net profit reached 12.881 million yuan, reflecting a 61.1% reduction compared to the same period last year. During the reporting period, cloud service revenue totaled 451 million yuan, a 14.1% drop year-on-year, representing 85.8% of total revenue, down from 86.6% in the corresponding period of 2025. The decline in cloud service revenue is primarily attributed to the ongoing industry bottoming-out and recovery process, which has not yet fully completed, leading to a contraction in new contract signings. Additionally, the impact of historical contract declines on deferred revenue has gradually materialized, placing further pressure on overall revenue.

Despite these headwinds, the company has continued to expand its customer base and introduce new products, driving growth in its asset management and operations segment. This segment generated revenue of 49.9 million yuan during the period, up 5.7% year-on-year. Meanwhile, revenue from localized deployment software and services reached 74.7 million yuan, down 7.9% year-on-year. This decrease was mainly due to adjustments in real estate market demand, which led to a decline in product license sales and delivery contract signings. However, demand for support and value-added services from existing customers remained stable, and the ongoing optimization of the revenue mix helped narrow the overall decline in revenue.