Jufeel International Holdings Ltd. (formerly Mindtell Tech; 08611) reported a net loss of RM5.76 million for the six months ended 31 May 2026, deepening from a RM0.92 million loss in the prior-year period.

Revenue edged down 2.0% to RM12.96 million, reflecting broadly stable contributions from system integration and development services (RM11.33 million) and maintenance and consultancy services (RM1.63 million). Gross profit fell 14.9% to RM1.77 million, and gross margin slipped to 13.6% from 15.7%, pressured by higher hardware and staffing costs linked to expansion into AI-related projects.

Administrative expenses nearly tripled to RM8.51 million, driven by consolidation of the newly acquired Henan Lixuan Network Technology group, increased staff costs and amortisation of acquired intangibles. Finance costs jumped to RM0.76 million, largely due to interest on promissory notes.

Total borrowings rose to RM33.78 million, lifting the gearing ratio to 70.0% from 42.4%. The Group ended the period with net current liabilities of RM0.28 million and cash and cash equivalents of RM8.17 million.

During the period, the company completed a HK$28.60 million convertible bond issue on 22 April 2026, with proceeds earmarked for technology upgrades, staff expansion and working capital. A rights issue of up to HK$280.80 million was proposed on 16 February 2026 and approved on 21 May 2026.

The acquisition of Lixuan Network Technology and its subsidiaries was finalised on 27 November 2025; goodwill was confirmed at RM8.28 million after completing purchase price allocation.

No interim dividend was declared. The company also rebranded from Mindtell Technology Limited to Jufeel International Holdings Limited following shareholder approval on 21 May 2026.