BAWANG GROUP (01338) announced its annual results for the year ended December 31, 2025. Revenue reached 273 million yuan, representing an increase of 8% compared to the previous year. Net profit was 3.885 million yuan, a decrease of 40.7% year-on-year. Basic earnings per share stood at 0.1228 cents. The gross profit margin slightly declined from approximately 50.9% in 2024 to about 50.8% in 2025. The primary reason for the decrease in gross margin was a significant price increase in one of the key raw materials among various inputs, which led to higher costs. This was partially offset by reductions in manufacturing overheads and packaging material expenses.