Master Copper (00664) announced interim results, net profit of 1.281 million yuan, a year-on-year decrease of 95.8%

According to the Zhitong Finance App, Master Tong (00664) announced interim results for the six months ended June 30, 2026, with revenue of 342 million yuan (RMB, same below), up 10.8% year on year; net profit of 1.281 million yuan, down 95.8% year on year; basic profit per share was RMB 0.02.

According to the announcement, for the six months ended June 30, 2026, the Group achieved a 10.8% year-on-year increase in total revenue, mainly benefiting from the expansion of the number of offline direct-run stores and the continuous expansion of the dropshipping network. Among them, direct sales channel revenue increased 13.6% year on year, and consignment sales revenue increased year on year. Gross profit increased 7.7% year over year, and gross margin fell slightly to 34.1% from 35.1% in the same period last year, mainly affected by rising raw material costs, increased depreciation and manufacturing costs due to capacity expansion, and some inventory promotion activities. The Group's net profit for the period decreased by 95.8% year on year, mainly due to multiple factors such as rigid cost increases due to the rapid expansion of offline stores (sales and marketing expenses increased 71.2% year over year), phased cost increases due to capacity expansion and production line upgrades, continued increase in R&D investment, and exchange losses due to Hong Kong dollar settlement of capital raised from the listing.