CRMI Posts 55.1% Profit Surge in FY2025 Amid 20.5% Revenue Slide; Leverage and Liquidity Improve but Going-Concern Risk Highlighted

Bulletin Express
Mar 30

China Regenerative Medicine International Limited (CRMI) reported FY2025 revenue of HK$72.06 million, down 20.48% from HK$90.62 million a year earlier, reflecting lower visitor traffic from Mainland China to its Hong Kong clinic. Gross profit contracted 27.29% to HK$41.92 million, yet stringent cost controls and the absence of a HK$17.28 million one-off loss recognised in 2024 underpinned bottom-line growth.

Net profit attributable to shareholders rose 55.1% to HK$27.53 million, translating into basic and diluted EPS of 9.05 HK cents versus 5.83 HK cents in FY2024. The profit uplift also benefited from a HK$12.34 million income-tax credit and a HK$8.08 million reduction in administrative expenses.

Segmentally, aesthetic medical and beauty services remained the core revenue driver, contributing HK$64.04 million (88.9% of total) and generating a segment profit of HK$37.38 million. Medical services delivered HK$8.02 million but incurred a HK$2.17 million segment loss.

CRMI’s balance-sheet metrics improved. Net current assets turned positive at HK$10.81 million (FY2024: net current liabilities of HK$0.56 million), and total equity more than doubled to HK$53.47 million. Shareholder loans fell to HK$30.11 million from HK$49.10 million, reducing the gearing ratio to 0.56 from 1.95. Cash and cash equivalents stood at HK$8.17 million (FY2024: HK$22.70 million).

Despite the stronger equity position, auditors flagged a material uncertainty over CRMI’s ability to continue as a going concern, citing reliance on the timely recovery of HK$52.98 million in current other receivables and ongoing financial support from the major shareholder.

No dividend was declared for FY2025. The group reported no bank borrowings, no significant capital commitments, and no material charges on assets or contingent liabilities as at 31 December 2025.

CRMI plans to continue reallocating resources within the healthcare sector while maintaining a conservative treasury policy focused on liquidity management and cost discipline.

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