Digital China (861) Q4 2025 earnings summary

Executive summary

• FY2025 revenue rose 26% to RMB21.015bn; profit attributable to equity holders returned to RMB31.42m from a RMB253.95m loss, while adjusted net profit was RMB214.93m.

• Operating cash flow was RMB490m; newly signed contracts totaled RMB16.19bn. Service-based revenue reached RMB10.14bn, up 9% and 48% of total revenue.

Financial highlights

• Gross profit increased 8% to RMB2.486bn; profit for the year was RMB61.17m versus a RMB563.69m loss in 2024.

• Adjusted EBITDA rose to RMB612.25m from RMB299.23m; adjusted net profit was RMB214.93m versus an adjusted loss of RMB126.93m.

• Revenue growth was led by systems integration at RMB6.235bn versus RMB3.394bn, and e-commerce operations at RMB4.556bn versus RMB3.714bn.

Outlook and guidance

• Strategy prioritizes Yanyun Infinity, AI First FDE and supply-chain agent solutions, alongside client-and-ecosystem marketing and lean operations; no numerical FY2026 targets were stated.

• Plans include expanding AI applications in supply chain and e-commerce, developing proprietary e-commerce livestreaming IP, and strengthening specialized AI talent and organizational capabilities.