TATA Health International Holdings Limited released its audited results for the year ended 31 December 2025.

• Revenue fell 23.06% year-on-year to HK$99.80 million, driven entirely by the core footwear segment.

• Gross profit declined 10.97% to HK$80.26 million, yet gross margin widened to 80.4% (2024: 69.5%) due to lower cost of inventories and inventory write-backs.

• Profit attributable to shareholders reached HK$13.35 million, reversing the HK$68.34 million loss recorded in 2024. The turnaround was mainly attributable to HK$40.10 million gain recognised from the disposals of non-core subsidiaries.

• Operating costs improved: – Selling & distribution expenses fell 14.9% to HK$55.72 million. – Administrative expenses decreased 20.5% to HK$47.36 million. – Finance costs dropped to HK$2.80 million from HK$4.25 million.

• Other gains and losses shifted to a HK$39.33 million gain (2024: HK$5.61 million loss), reflecting disposal gains and lower impairment charges.

• Cash and bank balances stood at HK$17.92 million (2024: HK$22.99 million). Total borrowings comprised HK$10.26 million short-term other borrowing and HK$15.60 million lease liabilities.

• The balance sheet remained strained: net current liabilities were HK$70.92 million and total net liabilities HK$54.44 million. Management relies on a HK$50 million shareholder facility (unused portion: HK$45.23 million) to support going-concern assumptions.

• Auditors issued a disclaimer of opinion citing inability to obtain adequate records for several disposed or deconsolidated subsidiaries, affecting comparability of prior-year figures.

• No final dividend was proposed.

Following the exit from financial services, healthcare trading and online medical operations, footwear retail now represents 100% of group revenue, with 31 sales points in Hong Kong and 4 in Macau at year-end. Management plans to broaden the product mix and introduce higher-margin brands to stabilise sales.