Kaikai Industrial: The net profit attributable to the parent in 2025 is expected to decrease by 63.03% to 12.94 million yuan.

On March 27, Kaikai Industry (600272) announced its annual report for 2025, with operating revenue of 1.132 billion yuan, an increase of 3.52% year-on-year; net profit attributable to shareholders was 12.94 million yuan, a decrease of 63.03% year-on-year; net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of 2.91 million yuan, a decrease of 239.05% year-on-year; and the net cash flow from operating activities was 148 million yuan, with an EPS (fully diluted) of 0.05 yuan.

In the fourth quarter, the company reported an operating revenue of 307 million yuan, a decrease of 11.9% year-on-year; net profit attributable to shareholders was 70,000 yuan, a decrease of 82.3% year-on-year; net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of 3.07 million yuan, a decrease of 463.3% year-on-year; and the EPS was 0.0003 yuan.

As of the end of the fourth quarter, the company’s total assets were 1.736 billion yuan, an increase of 16.92% compared to the end of the previous year; net assets attributable to shareholders were 777 million yuan, an increase of 25.49% compared to the end of the previous year.

There were no significant changes in the company’s business operations in 2025, maintaining a dual-core business model centered on pharmaceutical distribution and services, as well as clothing wholesale and retail.

The pharmaceutical segment mainly engages in the wholesale and retail of the time-honored brand “Leiyunshang” and health services, gradually transitioning to big health services and extending into intelligent, refined, and specialized services. The clothing segment continues to focus on the “Kaikai” brand, specializing in the wholesale and retail of shirts and wool sweaters, while actively expanding personalized workwear group purchase business.

In terms of specific operational performance, the pharmaceutical segment achieved operating revenue of 1.065 billion yuan, accounting for 94.01% of total operating revenue, an increase of 3.79% compared to 2024. The clothing segment achieved operating revenue of 61.39 million yuan, a decrease of 0.88% year-on-year, mainly affected by changes in the market environment and consumer sentiment.

Overall, although some business segments of the company are facing pressure, the company remains committed to responding to market changes by optimizing its structure and improving service quality.

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