Jiangxi Rimag (2522) H1 2025 earnings summary

Executive summary

• H1 revenue rose 12.9% YoY to RMB467.0m; profit for the period reached RMB15.8m versus RMB1.0m, while gross profit fell 14.0% to RMB137.2m.

• Imaging solutions led growth through equipment-upgrade demand and customer expansion; center services remained pressured by fee adjustments and healthcare-sector reform.

• Strategy prioritizes asset-light services, imaging-center expansion, data commercialization, AI development and overseas markets.

Financial highlights

• Revenue was RMB467.0m, up 12.9% YoY and 34.6% from H2 2024; cost of sales rose 29.8% YoY to RMB329.8m.

• Profit for the period was RMB15.8m versus RMB1.0m; owner-attributable profit was RMB16.4m versus RMB3.8m.

• Operating profit rose to RMB37.3m from RMB15.4m; net finance costs increased 16.2% to RMB11.5m.

• Non-IFRS EBITDA increased 18.7% YoY to RMB135.4m.

• Net cash from operating activities increased to RMB93.0m from RMB34.1m; period-end cash and equivalents were RMB364.7m.

Outlook and guidance

• Eleven centers under development at June 30 are expected to begin operations in H2 2025, supporting renewed stable growth in center-service revenue.

• Management expects gross profit and gross margin to gradually improve through cost optimization, refined operations and higher-margin individual empowerment products.

• Priorities include asset-light solution growth, domestic network expansion, overseas deployment, data-asset commercialization and AI-enabled services.