Yunnan Energy International reported audited results for the year ended 31 December 2025, recording a HK$0.90 million net loss compared with a HK$0.49 million profit a year earlier. Group revenue fell 31.9% to HK$392.67 million, driven by a sharp contraction in the Supply Chain segment.

Revenue from the Supply Chain Business declined 35.1% to HK$340.63 million, reflecting softer demand for agricultural commodities and stricter internal risk controls. The Distribution Business remained broadly stable at HK$52.05 million, down 0.2%.

Gross profit dipped 17.7% to HK$24.57 million, while the gross margin improved to 6.3% from 5.2%, aided by a richer product mix within the Supply Chain portfolio. Selling and distribution expenses almost doubled to HK$7.89 million, mainly on higher freight costs, and finance costs rose 16.1% to HK$3.58 million as average borrowing rates increased. Other income swung to a HK$1.82 million gain, supported by compensation for breach of contract and HK$0.65 million in dividends from the 6.67% stake in Dayao Green Energy.

On the balance-sheet, total assets stood at HK$450.44 million, with cash and bank balances at HK$57.56 million. Interest-bearing debt totalled HK$144.02 million, defining a gearing ratio of 85.6% versus 93.7% a year earlier. Net current assets edged up to HK$125.69 million, sustaining a current ratio of 1.5.

The board recommended no final dividend. Post year-end, the company signed a master purchase agreement on 14 January 2026 with Yunnan Energy Green New Materials to secure silicon materials supply, carrying annual caps of about HK$172.00 million for 2026 and 2027.

Separately, directors will seek shareholder approval at the 2026 AGM to amend the Bye-laws, aligning them with Hong Kong’s Core Shareholder Protection Standards and enabling virtual general meetings with electronic voting.