Analogue Announces 2026 Interim Results
HONG KONG, August 28, 2026 - (ACN Newswire) - Analogue Holdings Limited (“Analogue” or the “Company”, together with its subsidiaries, the “Group”) (stock code: 1977), a leading provider of electrical and mechanical (“E&M”) engineering solutions, and information and communications technology services for smart cities, today announced its interim results for the six months ended 30 June 2026 (the “Period”) with interim contracts-in-hand continuing their record-setting performance, providing a solid foundation for the business over the next three years and beyond.
Business Highlights
- Interim contracts-in-hand surged by 34.9% to HK$17,649.3 million, attaining yet another record high
- Revenue was HK$3,036.6 million, up by 5.7%, primarily driven by steady project execution in the Building Services and Environmental Engineering segments
- Profit attributable to owners of the Company increased 88.1% to HK$152.0 million. The increase was partly attributable to the disposal of an approximately 3% equity stake in Nanjing Canatal Data-Centre Environmental Tech Co., Ltd.(Shanghai Stock Code: 603912)
- The Group maintained a strong cash position, with bank balances and cash at HK$1,214.1 million
- Interim dividend amounted to HK4.9 cents per share, with a year-on-year increase of more than 88%
- Artificial Intelligence (AI) has been integrated into Analogue’s interconnected smart ecosystem to create value for customers, by realising a smart platform for buildings, and advanced operational solutions for water and sewage treatment, as evidenced by the prestigious accolades across both the research and adoption categories at the inaugural Construction Industry Council AI Award 2026 and at the ASHRAE Region XIII Technology Award 2026
Chairman Dr Mak Kin Wah said, “Building on our outstanding achievement of record-high contracts-in-hand in 2025, the Group maintained steady business performance in the first half of 2026. By integrating research, development and application of AI technologies, we have achieved optimised operations and enhanced quality that earn wide recognition from the industry. Committed to innovation, the Group will further promote integration of AI, Digital Twin, and the Internet of Things (“IoT”), develop cross-technology integrated solutions, and enhance performance in engineering operations, safety, and sustainable development, to create greater value for clients.”
“Our commitment to business ethics, quality, safety, health and environmental sustainability remains at the core of everything we do, guiding our decisions, shaping our culture, and contributing to a more sustainable future."
Business Review: Building Services
- This segment remains the largest revenue contributor, with revenue reaching HK$1,649.6 million.
- Interim contracts-in-hand reached a record-high level of HK$7,996.6 million, with order intake standing at HK$1,348.8 million and many of the tenders submitted in the Period due for determination in phases later this year.
- Many projects in the Northern Metropolis, including Fanling and Kwu Tung housing projects and various hospitals, were prioritised for commencement and progress in execution.
- The Group’s expertise in Building Information Modelling (BIM), Design for Manufacture and Assembly (DfMA) and Modular Integrated Mechanical, Electrical and Plumbing (MiMEP) continued to gain market traction and helped secure major contracts.
- Leveraging our comprehensive interdisciplinary capacity and new engineering techniques, this segment maintained our industry leadership, and was broadening our market reach to different parts of Asia.
Environmental Engineering
- This segment achieved record-high interim contracts-in-hand, which surged substantially by 78.3% year-on-year to HK$8,164.2 million. Order intake stood at HK$910.1 million with active ongoing tendering activities and many of the tenders submitted in the period due for determination in phases later this year. Segment revenue increased by 17.2% year-on-year or HK$123.2 million.
- A number of projects, including a landmark engineering contract to reprovision critical sewage treatment works to caverns, were prioritised for commencement and execution.
- New term contracts for sewage and E&M systems were also added to the recurrent operation, maintenance, and facility management services provided by the segment.
- By deploying AI and Digital Twin under our industry-recognised AlgoWater® brand, the segment continued to strengthen our industry leading position by advancing in intelligent automation, predictive asset management, and real-time process optimisation that significantly enhance treatment efficiency and energy savings for industrial operations.
- Continued to pursue project opportunities with partners in the Chinese Mainland and different parts in Asia and Europe.
Information, Communications and Building Technologies (“ICBT”)
- Segment revenue amounted to HK$290.9 million. Contracts-in-hand totalled HK$830.8 million. Order intake was HK$269.9 million.
- As an early mover backed by its own R&D capability and extensive project experience, this segment was well positioned to continue to advance innovation. A robust digital foundation was established through the Digital Plant and Centralised Management Platform (CMP) that enables real-time insights and data-driven decisions.
- Integration of IoT and advanced Building Management System (BMS) under our acclaimed DigiFusion® AI Smart Building Platform delivers optimised operational efficiency and enhanced tenant experiences in smart buildings and city infrastructure, as well as resource circularity for our clients.
Lifts and Escalators
- Revenue and contracts-in-hand were at HK$255.9 million and HK$657.7 million respectively.
- Order intake totalled HK$278.4 million, with ongoing tendering activities in different parts of the world.
- Transel Elevator & Electric Inc. (TEI), the associate company in the United States, maintained its strength as one of the largest independent lift and escalator companies in New York and continued to expand in the southeastern part of the country, strengthening our market positioning and future growth.
- Competitiveness was strengthened with enhanced automation in production lines and strict quality controls, to anchor the end-to-end business model from design, through manufacturing, to installation and maintenance services.
- The product portfolio was broadened in line with the expanding international market reach and enhanced with next-generation product innovations.
For further details of the 2026 Interim Results, please refer to the announcement filed with The Stock Exchange of Hong Kong Limited.
About Analogue Holdings Limited
Established in 1977, Analogue Holdings Limited is a leading provider of electrical and mechanical (“E&M”) engineering solutions and information and communications technology (“ICT”) services for smart cities, with headquarters in Hong Kong and operations in the Chinese Mainland, Macau, the United States, the United Kingdom, Germany, Singapore and Malaysia. Serving a wide spectrum of customers from public and private sectors, the Group provides multidisciplinary and comprehensive E&M engineering and technology services in four major segments, including Building Services, Environmental Engineering, Information, Communications and Building Technologies (“ICBT”) and Lifts & Escalators.
The Group also manufactures and sells lifts and escalators internationally and has entered into an alliance with Transel Elevator & Electric Inc. (“TEI”), one of the largest independent lifts and escalators companies in New York, the United States. The Group’s associate partner, Nanjing Canatal Data-Centre Environmental Tech Co., Ltd. (Shanghai Stock Code: 603912), specialises in precision environmental control technologies and related energy-saving and temperature control equipment for data centres.
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