Yeebo Holdings reports profit surge on fair value gains, AI investments

Yeebo International Holdings Limited announced a profit attributable to equity shareholders of HK$1,218.1m for the six months ended September 30, 2025, a significant rise from HK$97.1m in the prior year. This surge was primarily due to a HK$1,180m gain from fair value changes in financial assets at fair value through profit or loss (FVTPL), net of withholding tax. Consolidated revenue increased by 5.1% to HK$554.3m, though gross profit declined by 21.2% to HK$64.6m, with the gross profit margin falling to 11.7% from 15.5%, attributed to high fixed costs in the early development stage of AI compute businesses.

The display business showed robust performance with growth in sales and gross margins, benefiting from rising demand for capacitive touch panel modules and strategic expansion into the automotive sector. The AI compute and related businesses, operated under Suanova Technology Limited, continued to consolidate their leadership in China’s AI ecosystem, launching "Harvest 1," a domestic GPU-only cluster.

The group held 117,442,410 Nantong Jianghai shares with a fair value of approximately HK$3.9bn, now accounted for as financial assets at FVTPL following a partial disposal. Investments in the AI sector included RMB100m in Yunhe Zhiwang Technology Co., RMB20m in MemTensor Technology Co., and RMB10m in Shanghai Xiangfeng Technology Co. The board resolved not to recommend an interim dividend for the period.