Mayer Holdings reports strategic shifts, name change, and sustainability focus

Mayer Holdings (HKEX: 1116) released its 2025 annual report detailing significant changes in its operations and corporate structure. The company changed its name to Huiyuan Cowins Technology Group Limited, effective May 9, 2025. This rebranding comes amidst a challenging year marked by a RMB59,459,000 loss from continuing operations, a decrease from a RMB153,133,000 profit in 2024, primarily attributed to the deconsolidation of Zhuhai HuaFeng Group.

The group’s revenue increased by 6.4% to RMB760,063,000, driven by higher domestic sales of steel products, but gross profit margin declined to 10.9%. The company is actively focusing on its energy storage business as a core growth driver due to favorable policies and technological advancements. Capital commitments remain nil for 2025, and no final dividend has been recommended.

The annual report also addresses ongoing legal proceedings against former directors and the disposal of Happy BVI and its subsidiaries on March 5, 2025, resulting in a RMB4,548,000 loss. The company has enhanced its corporate governance, including anti-corruption policies and environmental protection measures, as detailed in its environmental, social and governance report 2025.