KUALA LUMPUR, MY / ACCESS Newswire / August 26, 2026 / JS Solar Holding Berhad ("JS Solar" or the "Company"), a solar photovoltaic ("solar PV") system solutions provider, today announced its financial results for the first quarter ended 30 June 2026 ("Q1 FYE2027"), recording revenue of RM30.27 million, representing an increase of 26.2% from RM23.99 million in the corresponding quarter last year ("Q1 FYE2026").
JS Solar Holding Berhad
The higher revenue was primarily driven by growth in the Group's contracting services segment, which contributed RM21.00 million in Q1 FYE2027 compared to RM0.06 million in Q1 FYE2026. This was supported by higher work progress achieved and a higher value of work certified for ongoing contracting services projects during the quarter. The increase was partially offset by lower contributions from the EPCC and O&M services segments, with EPCC services contributing RM9.20 million during the quarter.
Despite the higher revenue, gross profit ("GP") declined to RM2.55 million from RM4.60 million in Q1 FYE2026, while GP margin moderated to 8.4% from 19.2%. The lower GP was mainly attributable to costs incurred on improvement works pursuant to policy changes for certain completed projects during defects liability period, for which no revenue was recognized to offset the said costs.
Profit before tax ("PBT") stood at RM0.47 million, compared to RM2.91 million in Q1 FYE2026, while profit after tax ("PAT") amounted to RM0.19 million, compared to RM2.07 million previously. Apart from the lower GP, profitability was also affected by higher administrative expenses arising from higher unrealized foreign exchange losses, staff costs and depreciation of property, plant and equipment.
On a quarter-on-quarter ("QoQ") basis, JS Solar's revenue increased by 14.2% from RM26.50 million in Q4 FYE2026, while GP improved by 20.5% from RM2.12 million. The improvement in revenue was similarly supported by stronger contracting services contribution arising from higher work progress and certified work value for the ongoing contracting services projects during the current quarter.
Mr. Johnson Chai Jeun Sian, Managing Director of JS Solar commented, "The growth in revenue during the quarter reflects stronger progress across our ongoing contracting projects. While profitability was affected by costs incurred on improvement works pursuant to policy changes for certain completed projects during the defects liability period, as well as higher administrative expenses, we remain focused on managing project execution costs and improving operational efficiency."
He added, "The renewable energy sector continues to present opportunities as demand for solar adoption and grid modernization grows. We will continue to pursue new contracts prudently, while maintaining discipline in project bidding and cost management to strengthen our margins and support the Group's performance."
As at 30 June 2026, the Group's IPO proceeds of approximately RM24.18 million have been substantially utilized, with approximately RM20,000 remaining for business expansion and marketing activities. During the quarter, part of the unutilized proceeds originally earmarked for business expansion and marketing activities was reallocated to working capital in view of the Group's current operational and cash flow priorities.
Looking ahead, the Group remains cautiously optimistic on its prospects for the remaining financial year, supported by the continued development of the renewable energy sector. JS Solar will continue to focus on securing new contracts, managing project execution costs and improving operational efficiency, while remaining prudent in its cost management and project bidding strategy.
The Group has just held its Second Annual General Meeting ("AGM") on 24 August 2026, where all resolutions tabled were duly passed by shareholders. The Board expressed its appreciation to shareholders for their continued support and confidence in JS Solar as the Group continues to strengthen its capabilities and pursue opportunities within the renewable energy sector.
###
ABOUT JS SOLAR HOLDING BERHAD
JS Solar Holding Berhad ("JS Solar") is a solar PV system solutions provider listed on the ACE Market of Bursa Malaysia Securities Berhad. Through its subsidiaries, the Group principally provides engineering, procurement, construction and commissioning ("EPCC") and contracting services for solar PV systems, complemented by operations and maintenance ("O&M") services.
The Group's project experience spans residential, commercial and industrial ("C&I"), and utility-scale solar PV systems, including rooftop, ground-mounted and floating installations. JS Solar has also expanded its capabilities into battery energy storage systems ("BESS"), supporting the development of more integrated renewable energy solutions.
For more information, visit https://johnsonsolar.com.my/.
Issued By: Swan Consultancy Sdn. Bhd. on behalf of JS Solar Holding Berhad
For more information, please contact:
Jazzmin Wan
Email: j.wan@swanconsultancy.biz
Xinyi Ching
Email: x.ching@swanconsultancy.biz
SOURCE: JS Solar Holding Berhad
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/clean-technology/js-solar-records-26.2-revenue-growth-to-rm30.27-million-in-q1-fye2027-1212343
