Helens International Holdings swung to a net profit of 33.95 million yuan for the year ended Dec 31, 2025, from a 77.98 million-yuan loss a year earlier, as tighter cost controls offset softer sales caused by China’s subdued consumer spending.

Earnings per share recovered to 0.027 yuan from a loss of 0.062 yuan in FY24. The board proposed a final dividend of 0.0554 yuan a share, down from 0.1146 yuan the previous year, subject to approval at the 14 May annual general meeting and payable on 2 June 2026.

Group revenue slipped 28.3 % year-on-year (YoY) to 539.01 million yuan. Self-operated bars contributed 355.68 million yuan, 36% lower YoY, reflecting a smaller store base and weaker same-store sales. Franchise income, including “HiBeer Partnership” supply sales and service fees, eased 5.8 % to 183.33 million yuan but expanded to 34 % of total turnover from 25.9 % in 2024. Pre-tax profit reached 37.80 million yuan, reversing the prior year’s 76.57 million-yuan loss.

Bars posted an overall contribution margin of 73.77%, up from 2024, aided by supply-chain efficiencies and a higher mix of Helen’s branded drinks, which accounted for 72.4% of self-operated bar revenue versus 70.5% a year earlier. Margin on the in-house range rose to 79.8% (2024: 76.6%), while third-party drinks improved to 60.9% (51.2% previously).

Headwinds included an 18.4% drop in same-store sales and the closure of selected under-performing outlets, which pushed average daily sales at self-operated and franchised bars down to 7.7 thousand yuan from 7 thousand yuan. Impairment and closure-related losses narrowed to 10.34 million yuan from 105.76 million yuan, underpinning the profit turnaround. Employee benefit and manpower expenses declined 34.9% to 113.1 million yuan after network optimisation, while finance income fell 54.8% to 21.88 million yuan on lower cash balances.

Looking ahead, the company plans to reinforce its core self-operated locations and accelerate roll-out of asset-light “HiBeer Partnership” bars, which numbered 429 at 2025-end. Management also intends to deepen product innovation, strengthen supply-chain integration and test “third-space” formats to capture evolving consumer lifestyles amid a “complex and volatile” domestic market environment.