Zhongmiao Holdings (Qingdao) Co., Ltd. reported robust interim results for the six months ended 30 June 2026, underscoring successful execution of its dual-focus strategy in insurance distribution and fintech services.
Revenue climbed 56.50% year on year to RMB 177.70 million (USD 24.5 million), propelled by a first-time RMB 58.18 million contribution from the newly acquired banking-technology subsidiary Kechuang Rongxin. Net profit surged 87.40% to RMB 47.03 million (USD 6.48 million), lifting the net margin to 26.5% from 22.1% a year earlier.
Gross profit rose 90.50% to RMB 80.20 million, with gross margin expanding to 45.1% (1H 2025: 37.1%) on higher fintech mix and tighter cost control aided by AI-driven process optimisation. Operating cash flow strengthened to RMB 27.65 million, a 287.20% leap, highlighting improved monetisation and working-capital discipline.
Segment performance • Insurance agency services remained the core revenue source at RMB 111.49 million, up 2.10%, buoyed by continued scenario-based product customisation. Property insurance grew 12.0% to RMB 59.28 million and contributed over half the line’s sales, offsetting softer automobile and life & health premiums. • Fintech services revenues multiplied more than fourteen-fold to RMB 66.22 million, driven by banking technology services recognised post-acquisition and an 85.10% rise in insurance technology solutions to RMB 8.03 million.
Balance-sheet metrics Total assets reached RMB 1.05 billion, while net assets stood at RMB 755.60 million, up RMB 17.84 million from end-2025 despite a RMB 22.59 million final dividend for FY 2025. Cash, time deposits and current wealth-management holdings totalled RMB 561.26 million. The gearing ratio slipped to 11.8% (FY 2025: 12.2%) with unchanged bank borrowings of RMB 88.00 million.
Investments & liquidity The Group allocated RMB 106.86 million into wealth-management products and structured deposits, aiming to enhance returns on surplus funds. Capital expenditure amounted to RMB 0.87 million. No material acquisitions or disposals occurred during the period; the 33% stake in private-equity manager Hongyun Ruiheng remained its principal long-term investment.
Corporate actions No interim dividend was declared. The Board noted that both chairman and CEO roles continue to be held by Lu Yao, citing efficiency considerations. The company confirmed compliance with Hong Kong’s Corporate Governance Code, except for the combined roles.
Outlook Management will deepen scenario-based insurance distribution, scale AI-enabled risk-control hardware, and accelerate ITAI-driven banking-tech deployments. Priority areas include warehousing and freight-vehicle risk reduction, intelligent claims platforms, and expansion of green distributed photovoltaic and installation-service insurance niches.
Zhongmiao believes the strengthened cash position and improving margins provide a foundation for continued ecosystem expansion and technology investment in the second half of 2026.