160 Healthy International (2656) H2 2025 earnings summary

Executive summary

• FY2025 revenue rose 5.0% YoY to RMB651.9m; IFRS net loss narrowed to RMB74.5m, while adjusted net profit turned positive at RMB4.1m for the first time.

• Digital healthcare solutions grew faster than product sales, supported by rapid adoption of 160AI Hospital; the business listed on the Hong Kong Main Board in September 2025.

Financial highlights

• Revenue was RMB651.9m, up 5.0% YoY; gross profit rose to RMB170.2m from RMB160.2m, while operating loss narrowed to RMB74.4m from RMB104.6m.

• IFRS loss for the year narrowed to RMB74.5m from RMB108.2m; basic and diluted loss per share improved to RMB0.24 from RMB0.37.

• Adjusted net profit was RMB4.1m versus adjusted net loss of RMB31.5m; adjusted measure adds back share-based compensation and listing expenses.

• Selling and marketing expenses fell 25.4% to RMB87.5m; administrative expenses rose 22.2% to RMB113.6m, mainly due to higher share-based compensation.

Outlook and guidance

• 2026 priorities include increased AI R&D and multi-agent tools for patient-doctor management, clinical decision support, medical records, insurance calculations and hospital operations.

• Plans include accelerating nationwide expansion of public-hospital operating models, upgrading the digital supply chain and exploring international markets and AI mental-health services.

• Management expects financial performance and profitability to improve steadily as 160AI Hospital expands and healthcare AI adoption scales; no quantified earnings target is stated.