Besunyen Holdings Company Limited reported FY2025 revenue of RMB 494.32 million, a 2.1% year-on-year increase. Net profit attributable to shareholders rose 37.9% to RMB 20.44 million, supported by a 2.8-percentage-point expansion in gross margin to 70.1%.

Revenue mix • Weight-loss medicines grew 24.9% to RMB 184.87 million, driven by a 20.8% rise in volume on a key e-commerce platform. • The Four Health Teas (Detox, Slimming, Fit and Relief) slipped 3.5% to RMB 247.60 million amid weaker traditional sales channels. • Other health foods fell 28.6% to RMB 49.61 million.

Costs and expenses • Cost of sales declined 6.8% to RMB 147.74 million, reflecting lower procurement costs for weight-loss medicines. • Selling and marketing expenses climbed 19.7% to RMB 238.58 million, mainly due to higher e-commerce traffic acquisition and agency fees. • Administrative expenses dropped 25.6% to RMB 66.63 million after one-off staffing and advisory costs in 2024 rolled off. • R&D spending fell 67.7% to RMB 9.50 million on reduced outsourced projects.

Balance sheet and cash flow • Cash and cash equivalents stood at RMB 177.93 million (31 Dec 2024: RMB 134.16 million). • The company remains debt-free; gearing ratio was 16.9%. • Operating cash inflow improved to RMB 60.95 million (2024: RMB 10.54 million). • CAPEX totalled RMB 6.40 million.

Dividend The board will not recommend a final dividend for FY2025. An interim dividend of HK$0.15 per share (≈ RMB 16.73 million) was paid during the year.

Audit qualification Rongcheng (HK) CPA Limited issued a qualified opinion related to the fair-value measurement of an RMB 86.51 million investment in Central China Dragon Global Opportunity Fund SP6. Management deconsolidated the fund in 2025 and reclassified the interest as a financial asset at FVTPL after redemption delays and limited information from the fund manager. The company is pursuing full cash recovery and may take further legal action.

Outlook Management plans to deepen omni-channel integration, step up content-driven marketing, accelerate overseas expansion and maintain a focus on profitability and positive cash flow in 2026.