East Buy (1797) H2 2025 earnings summary

Executive summary

• Revenue from continuing operations fell 32.7% year-over-year to RMB4.4 billion, mainly due to the disposal of the education business and a decline in livestreaming e-commerce sales.

• Net profit from continuing operations dropped to RMB6.2 million from RMB249.1 million in FY2024; excluding the one-off impact from the Time with Yuhui disposal, net profit rose 30% to RMB135.4 million.

• Adjusted profit for the year (non-IFRS) was RMB173.5 million, and adjusted EBITDA was RMB98.9 million.

• The company has shifted focus to private label products and livestreaming e-commerce, with private label products contributing 43.8% of total GMV.

Financial highlights

• Revenue from continuing operations: RMB4.4 billion (down from RMB6.5 billion year-over-year).

• Gross profit: RMB1.4 billion (down 17% year-over-year), but gross margin improved to 32.0% from 25.9%.

• Net profit from continuing operations: RMB6.2 million (down from RMB249.1 million year-over-year).

• Adjusted profit: RMB173.5 million; adjusted EBITDA: RMB98.9 million.

• Earnings per share (basic): RMB0.01 (down from RMB0.24 for continuing operations in FY2024).

Outlook and guidance

• Strategic focus remains on expanding private label products, enhancing supply chain, and strengthening the APP and membership system.

• Plans to further invest in technology, livestreaming innovation, and user engagement.

• No dividend proposed for FY2025.