Biren Tech's stock fell sharply by 5.19% during intraday trading on Wednesday, as investors digested the company's recently released 2025 annual financial results.

The decline follows the publication of Biren Tech's annual report, which revealed a mixed financial picture. While the company achieved a significant milestone with annual revenue exceeding RMB 1 billion for the first time, representing more than two-fold year-over-year growth, it also reported a substantial net loss of approximately RMB 164.93 billion for 2025.

Market sentiment turned negative as the financials showed that research and development expenses surged 78.5% year-over-year to RMB 1.476 billion, significantly outpacing total revenue. The widening gap between heavy investment and profitability, coupled with the proposal to forgo a final dividend for 2025, appears to have triggered selling pressure among investors concerned about the company's path to sustainable profitability.