Associated Press (02671) issued a profit warning. The medium-term consolidated net profit is expected to be about 9.9 million yuan, a year-on-year decrease of about 84.2%

According to Zhitong Finance App, Midland Holdings (02671) announced that the Group expects to obtain a comprehensive net profit of about RMB 9.9 million for the six months ended June 30, 2026, a decrease of approximately RMB 52.7 million or about 84.2% from the consolidated net profit of about RMB 62.6 million for the six months ended June 30, 2025.

The Board of Directors believes that the decline in the Group's financial performance was mainly due to a decrease in the Group's revenue from prefabricated steel construction subcontract services, which was mainly affected by fluctuations in the order cycle of major customers; and delays in the commencement of new orders and delays in revenue recognition. The Group signed contracts for new orders in 2026 were relatively late, and the project commencement and delivery schedule was mainly concentrated in the second half of the year, resulting in a total reduction of about RMB 83.7 million in the six months ended June 30, 2026.