Universal Health International (UNI HEALTH) released its unaudited interim results for the six months ended 31 December 2025.

Revenue fell 39.5% year-on-year to RMB266.82 million, driven by a 45.4% decline in distribution sales to RMB175.89 million and a 23.5% decline in retail sales to RMB90.93 million.

Gross profit decreased 32.7% to RMB47.45 million, yet the gross margin widened 1.9 percentage points to 17.8% on a more profitable product mix.

Operating loss narrowed to RMB3.40 million from RMB7.93 million a year earlier. Net loss attributable to shareholders was cut to RMB6.06 million, versus RMB8.01 million in the prior-year period.

Adjusted EBITDA turned positive at RMB3.30 million compared with a negative RMB1.10 million in the same period last year, reflecting lower selling and marketing expenses, which dropped 45.3% to RMB32.77 million. Administrative expenses edged down 2.7% to RMB18.08 million.

Finance costs netted to RMB1.74 million, shifting from net finance income of RMB1.71 million a year ago, mainly due to foreign-exchange losses.

Cash and cash equivalents stood at RMB63.10 million at period end, up from RMB13.40 million at 30 June 2025. Net cash generated from operating activities was RMB21.11 million. The current ratio improved to 1.5 times from 1.3 times at fiscal year-end.

The company issued 30.44 million new shares in September 2025, raising net proceeds of RMB22.23 million and lifting total shares in issue to 110.55 million.

No interim dividend was declared.

Looking ahead, management plans to deepen its “Specialization+”, “Platform+” and “Internet+” strategies, accelerate Direct-to-Patient pharmacy deployment and expand value-added healthcare services while continuing its digital transformation and nationwide distribution network optimisation.