China Ruyi Holdings Limited reported interim revenue of RMB1.18 billion for the six months ended 30 June 2026, down 46.37% year-on-year. Net profit fell 32.34% to RMB830.59 million, while adjusted net profit decreased 26.89% to RMB951.82 million. Basic earnings per share slipped to RMB0.0500 from RMB0.0814 a year earlier.

Gross profit contracted sharply to RMB290.93 million from RMB1.12 billion, reflecting lower project completions and higher production costs. Operating profit stood at RMB873.18 million, supported by RMB774.38 million of gains on financial assets measured at fair value.

Segment performance • Content production revenue fell 42.5% to RMB327.54 million. • Online streaming and gaming revenue dropped 50.9% to RMB838.99 million. • Other businesses contributed RMB16.55 million.

Cash & liquidity • Cash, cash equivalents and term deposits totalled RMB5.44 billion at end-June, down from RMB7.24 billion at year-end 2025. • Net current assets were RMB12.87 billion, with a current ratio of 3.3x (end-2025: 4.3x). • Total debt declined to RMB463.50 million (end-2025: RMB733.00 million), lifting the gearing ratio to 18.2% (end-2025: 9.5%) due to higher convertible-bond liabilities.

Capital markets activity • Issued HKD2.57 billion (RMB2.55 billion) zero-coupon convertible bonds in February 2026; HKD50 million was repurchased in May, leaving HKD2.52 billion outstanding. • Repurchased 254.96 million shares during May–June for HKD366.70 million; shares will be cancelled. • No interim dividend was declared.

Business update Management attributed the revenue shortfall to key film, TV and gaming projects remaining in production or pre-launch phases; related revenue is expected in 2H 2026. Investment continued in premium content, AI-driven production tools (VOX System and Multimodal AI Middleware), and an expanded global IP pipeline. Recent and upcoming releases include films “All Wishes Come True!” and “Once Upon a Time in the Middle East,” dramas such as “Light to the Night,” and games including “FC Theater” and “Red Alert: Glory.”

Outlook statements emphasize continued spending on content, artificial-intelligence R&D and global IP partnerships, with several high-profile film and game launches scheduled for late 2026 and 2027.

No material acquisitions or disposals were recorded during the period, and the company reported no charges on assets, capital commitments or contingent liabilities.