AuGroup (SHENZHEN) Cross-Border Business Co., Ltd. released its audited results for the year ended 31 December 2025. Revenue expanded 27.9% to RMB13.70 billion, driven by continued growth in sales of goods and a sharp increase in logistics solutions income. However, profit for the year fell 70.7% to RMB152.59 million as costs escalated and margins narrowed.

Revenue Breakdown • Sales of goods: up 15.9% to RMB9.58 billion, accounting for 69.9% of total revenue. ‑ Furniture, home furnishings & appliances: RMB7.61 billion (+12.9%). ‑ Electric tools: RMB1.06 billion (+43.1%). • Logistics solutions: surged 68.6% to RMB4.12 billion, contributing 30.1% of revenue.

Geographical and Channel Performance • United States & other North America: RMB8.26 billion (+12.8%). • Europe: RMB1.12 billion (+49.8%). • Revenue through Amazon rose 14.0% to RMB5.81 billion, while sales via emerging platforms (e.g., TikTok, TEMU) more than doubled to RMB856.36 million.

Profitability • Gross profit increased 9.4% to RMB3.61 billion; gross margin fell to 26.3% (2024: 30.8%) due to higher ocean freight and warehouse amortisation costs. • Segment margin on logistics solutions contracted to 5.4% (2024: 12.4%) amid start-up costs for self-delivery operations in the U.S. • Finance costs jumped 115.9% to RMB264.36 million, reflecting larger bank borrowings and lease liabilities.

Expenses and R&D • Selling expenses grew 21.3% to RMB2.51 billion, in line with revenue expansion and increased platform fees. • R&D spending rose 40.1% to RMB182.13 million, with 205 patent applications filed and 18 international design awards secured.

Balance Sheet and Cash Flow • Total assets reached RMB10.13 billion (+15.4%); total liabilities increased to RMB6.98 billion. • Gearing ratio (interest-bearing debt/equity) climbed to 1.6 from 1.3 a year earlier. • Operating cash inflow amounted to RMB630.88 million; cash and cash equivalents closed at RMB1.61 billion.

Capital Allocation • A special dividend of RMB0.25 per share (RMB103.80 million) was paid in April 2025; no final dividend was proposed. • Capital commitments stood at RMB147.50 million, mainly for property, plant and equipment.

Outlook and Strategy Management signalled continued focus on global supply-chain diversification, expansion of overseas warehouse capacity, brand elevation, and AI-driven digital upgrades to mitigate tariff-related uncertainties and strengthen competitive positioning.