KINGWORLD reported 2025 revenue of RMB 917.34 million, a 13.5% decrease from 2024. Gross profit slipped 8.3% to RMB 247.91 million, yet gross margin widened 1.5 percentage points to 27.0% on a higher contribution from higher-margin medical devices.

Profit before tax fell 39.9% to RMB 57.43 million; net profit declined 47.8% to RMB 38.89 million. Profit attributable to shareholders dropped 72.9% to RMB 11.28 million, driving basic EPS down 73.4% to 1.92 RMB cents. The board proposed no final dividend (2024: HK3.17 cents).

Cost controls partly cushioned the downturn: selling expenses were trimmed 21.4% to RMB 77.73 million, offset by a 9.4% rise in administrative expenses to RMB 99.15 million and a 24.0% increase in R&D spending to RMB 21.80 million. Other revenue and income dropped 45.6% to RMB 15.53 million on lower promotional service income and government grants.

The balance sheet remained liquid. Cash and cash equivalents grew 12.4% year-on-year to RMB 264.41 million, while total bank loans rose to RMB 414.39 million. Net assets slipped 2.4% to RMB 688.85 million, and the gearing ratio inched up to 21.8% (2024: 21.6%).

Management attributed the earnings pressure to softer demand for OTC, Chinese patent medicines and healthcare products, partially offset by stable sales of electro-therapeutic and physiotherapeutic devices manufactured by subsidiary Dong Di Xin. Looking ahead, the group plans to deepen product mix optimisation, accelerate the scale-up of proprietary lines and bolster digital channels while maintaining prudent cost discipline.