Chaoju Eye Care Holdings Limited reported 2025 revenue of RMB1.36 billion, a 3.2% decline from 2024, as intensified price competition and the national reform of medical-insurance pricing—especially volume-based procurement of intra-ocular lenses—compressed top-line growth.

Gross profit fell 6.1% to RMB573.90 million, trimming the margin to 42.2% from 43.5%. Profit before tax slipped 2.5% to RMB256.10 million; the pre-tax margin edged up 0.1 percentage point to 18.8% thanks to tighter cost controls. Net profit decreased 4.7% to RMB177.41 million, with the net margin easing to 13.0% (2024: 13.2%).

Non-IFRS adjusted net profit, which excludes share-based compensation, declined 7.3% to RMB187.88 million, reducing the corresponding margin to 13.8% (2024: 14.4%). Basic earnings per share dropped 6.5% to RMB0.26.

Segment performance remained balanced: • Consumer ophthalmic services contributed RMB689.54 million, down 2.4%, accounting for 50.7% of total revenue. • Basic ophthalmic services generated RMB667.64 million, down 4.3%, representing 49.1% of revenue.

Patient volumes softened: outpatient visits fell 6.7% to 1.06 million and inpatient admissions slipped 3.3% to 69,747, though average outpatient spending rose 7.2% to RMB764. Optical-center traffic decreased 3.5%, yet average ticket size improved 11.8% to RMB1,006.

The network expanded to 31 ophthalmic hospitals and 32 optical centres as at 31 December 2025, adding three new optical locations during the year. Headcount reached 2,590 full-time employees, including 324 physicians and 620 nurses.

Operating cash flow amounted to RMB339.41 million, but higher capital expenditure and treasury investments produced a net cash outflow of RMB264.45 million; cash and cash equivalents closed the year at RMB516.34 million. Capital commitments stood at RMB103.70 million, mainly for hospital construction, renovation and medical-equipment purchases.

The board proposed a final dividend of HK$0.2423 per share, up from HK$0.1193 a year earlier. The payout is subject to shareholder approval at the 12 May 2026 AGM, with payment slated for 3 June 2026 to shareholders on record as of 20 May 2026.

Management reiterated strategic priorities: consolidate North-China leadership, expand in the Yangtze River Delta through new builds and acquisitions, enhance regional resource utilisation, and deepen application of intelligent technologies while maintaining disciplined cost control and medical-quality standards.