Hong Kong-listed Sample Tech (Nanjing Sample Technology Co., Limited) released its audited results for the year ended 31 December 2025.
Operating Performance • Revenue reached RMB503.96 million, up 14.57% year-on-year, driven mainly by a 16.96% increase in system-integration sales to RMB435.18 million. Intelligent terminal revenue slipped 4.31% to RMB18.15 million, while service income fell 27.72% to RMB13.28 million. • Gross profit rose 5.03% to RMB67.48 million; gross margin declined 1.22 percentage points to 13.39% owing to higher upstream raw-material costs. • Operating loss narrowed sharply to RMB23.00 million from RMB409.95 million in 2024, helped by lower selling (-12.72%) and administrative (-32.82%) expenses and a RMB1.08 million credit-impairment reversal versus a sizeable charge a year earlier. • Net loss attributable to shareholders shrank 82.61% to RMB73.12 million (2024: RMB420.59 million), translating into a basic loss per share of RMB0.092 (2024: RMB0.531).
Balance Sheet and Cash Flow • Total assets stood at RMB2.09 billion, down 12.54% from 2024, while total liabilities fell 17.77% to RMB960.09 million, lowering the debt ratio to 45.99% (2024: 48.93%). • Cash and bank balances improved to RMB340.91 million (2024: RMB272.56 million). • Interest-bearing debt eased: short-term borrowings dropped 27.27% to RMB369.28 million and long-term borrowings to RMB63.45 million, cutting the gearing ratio to 0.10 (2024: 0.28). • Net current assets were RMB476.95 million; the current ratio inched up to 1.56 (2024: 1.53).
Capital Expenditure and Pledges • Assets with a book value of RMB487.66 million were pledged against bank loans of RMB117.62 million. • No material capital commitments or contingent liabilities were reported.
Dividend and Corporate Actions • The board proposed no final dividend for 2025. • Shareholders approved the disposal of industrial property in Nanjing for RMB186.94 million; completion is expected in 1H 2026.
Operational Highlights • Intelligent transportation projects delivered included the Changtai Yangtze River Bridge “Intelligent Operation Command Centre” and multiple expressway electromechanical engineering contracts. • In intelligent logistics, smart-port and bonded-zone informatization projects were completed or newly secured, reinforcing the company’s position in cross-border trade digitalisation. • R&D spend rose 23.03% to RMB23.57 million, supporting projects in expressway collaborative induction systems and logistics monitoring platforms.
Outlook Management plans to focus on “stable growth, structural optimisation and development advancement,” prioritising debt management, cost control and technology-driven product upgrades as China enters the 15th Five-Year Plan period.