Huiyuan Cowins Technology Group Limited (Stock Code: 1116) released its 2025 Annual Report. The report shows total revenue from continuing operations reaching approximately RMB760 million, a 6.4% year-on-year increase from RMB714 million. Despite higher revenue, the Group recorded a net loss of roughly RMB59 million for the year from continuing operations, compared to a profit of about RMB153 million previously. Management attributes the swing partly to restatements and the deconsolidation of certain businesses.

According to the Annual Report, the steel segment (production and sale of steel products and provision of piped potable water solutions) remained a major contributor, posting revenue of around RMB760 million. The PCM (phase-change-materia) and facility farming operations showed no revenue contribution for this financial year but continued to incur operating expenses.

During the year, the Group disposed of certain subsidiaries and recognized a RMB4.5 million book loss on one disposal. Management also noted that the Group deconsolidated certain entities no longer under control and released related promissory notes and financial assets at fair value through profit or loss. The Board does not recommend any final dividend for the year. The report provides detailed financial statements, outlining operational updates and segment performance.