Bloomage BioTechnology (688363) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 was RMB 4.20 billion, down 21.82% year-over-year, mainly due to strategic adjustment in the skin science innovation business, which saw sales drop 42.11%.

• Net profit attributable to shareholders was RMB 292.06 million, up 67.59% year-over-year, with adjusted net profit (excluding non-recurring items) up 73.76% to RMB 186.40 million.

• Gross margin improved to 70.33%, up 3.71 percentage points from the previous year.

• Operating cash flow increased 11.15% to RMB 627.45 million.

• The company maintained a strong R&D focus, with R&D expenses up 1.26% and R&D investment accounting for 11.24% of revenue.

Financial highlights

• Revenue: RMB 4.20 billion, down 21.82% year-over-year.

• Net profit attributable to shareholders: RMB 292.06 million, up 67.59% year-over-year.

• Adjusted net profit: RMB 186.40 million, up 73.76% year-over-year.

• Gross margin: 70.33%, up 3.71 percentage points.

• Basic and diluted EPS: RMB 0.61, up 69.44% year-over-year.

• Operating cash flow: RMB 627.45 million, up 11.15% year-over-year.

• R&D expenses: RMB 472.14 million, 11.24% of revenue.

Outlook and guidance

• The company will continue to focus on high-value, sustainable business segments and optimize its product and channel structure.

• New product launches and international expansion are expected to drive future growth, especially in medical aesthetics and health nutrition.

• Ongoing investment in R&D and digital transformation will support long-term competitiveness.