Biosino Bio-Technology and Science Incorporation (BIOSINO BIO-TEC, 08247) released its audited results for the year ended 31 December 2025.

Revenue and Profitability • Revenue fell 29.9% year on year to RMB184.29 million, affected by industry policy adjustments, weaker end-market demand and sales-channel restructuring. • Gross profit decreased 34.6% to RMB70.92 million, and gross margin slipped to 38.5% from 41.2% in 2024. • The Group recorded a net loss of RMB65.02 million, compared with a RMB56.89 million loss in 2024. Loss attributable to shareholders widened to RMB51.14 million (2024: RMB42.53 million). • Basic and diluted loss per share was RMB0.353.

Cost and Expense Dynamics • Selling and distribution expenses fell 20.3% to RMB44.79 million. • Administrative expenses edged down 3.8% to RMB48.48 million. • R&D spending declined 19.7% to RMB26.82 million but remained 14.6% of revenue. • Finance costs fell 26.8% to RMB6.81 million on lower borrowing costs.

Balance-Sheet Highlights • Cash and cash equivalents stood at RMB43.52 million (31 Dec 2024: RMB68.21 million). • Interest-bearing bank and other borrowings totalled RMB160.47 million, resulting in net debt of RMB116.95 million and a net debt-to-equity ratio of 104% (31 Dec 2024: 46%). • Total assets were RMB407.12 million; total equity amounted to RMB112.96 million.

Segment Review • Biochemical diagnostics remained the core revenue contributor, recording stabilisation and recovery amid pressure from centralised procurement. • Immunodiagnostics continued its 2024 growth trajectory, supported by new product launches in tumour markers and infectious disease testing. • Emerging businesses—flow cytometry, molecular diagnostics and POCT—delivered rapid albeit small-scale revenue increases; several molecular products advanced to registration stages.

Capital Expenditure and R&D • CAPEX was RMB6.54 million, primarily for machinery upgrades. • Three invention patents and one design patent were secured; the company’s reference laboratory obtained CNAS accreditation.

Dividend • The Board proposed no dividend for FY2025, citing the need to preserve cash for operations and R&D.

Outlook Management targets “break-even and profitable operations” in 2026, with emphasis on deeper strategic partnerships, accelerated product launches—particularly in chemiluminescence, molecular diagnostics and POCT—and expanded presence in primary healthcare and overseas markets. The company plans to optimise costs, strengthen cash-flow management and explore additional financing options, including potential capital market activities.