BEAUTYFARM MED (02373) announced its 2025 financial results, revealing revenue of approximately 30 billion yuan, representing a year-on-year increase of 16.7%. Gross profit reached about 14.72 billion yuan, up 23.7% compared to the previous year. Net profit was approximately 3.4 billion yuan, a growth of 34.8%. The adjusted net profit amounted to around 3.81 billion yuan, marking a significant 41% increase. Basic earnings per share were 1.38 yuan, and a final dividend of 0.72 Hong Kong dollars per share was declared.
The company attributed the revenue growth to several key factors. Firstly, the group's organic business maintained a same-store sales growth of approximately 6.9%, primarily driven by a continuous increase in customer traffic and the number of active members at directly-operated stores, which boosted per-store revenue. Secondly, in terms of external expansion through mergers and acquisitions, the group completed the acquisition of the intelligent beauty and wellness brand Nairui'er in the second half of 2024 and integrated it into the group's system, gradually advancing consolidation efforts and contributing to the overall expansion of the business scale. Thirdly, the proportion of revenue from consumer healthcare services continued to rise, promoting the ongoing optimization of the group's business structure.
The BEAUTYFARM brand has consistently remained the preferred choice for high-end female clients. In 2025, customer traffic at directly-operated stores reached 1.86 million visits, a 22.8% increase year-on-year. The number of active members at these stores rose to 154,000, up 12.7% compared to the previous year. This growth in membership was a key driver behind the record-high levels of both revenue and profit for the group.
Net cash flow generated from operating activities in 2025 amounted to 1.0 billion yuan, a substantial increase of 25.4%. As of December 31, 2025, the group's total cash and cash equivalents stood at 2.59 billion yuan, a significant rise of 41.6%.
In terms of urban strategy, the group focuses on economically developed regions in China, aiming to establish 20 directly-operated cities each generating over 100 million yuan in revenue. In 2025, 20 first-tier and new first-tier cities in China contributed 93.2% of the group's direct-operated revenue. Furthermore, the group has built a competitive advantage in the four major super first-tier cities: Beijing, Shanghai, Guangzhou, and Shenzhen. Directly-operated stores in these four cities alone accounted for 64.9% of the group's direct-operated revenue, demonstrating its strong foothold in high-value markets.
Regarding store scale, as of December 31, 2025, the total number of stores reached 550, comprising 289 directly-operated stores and 261 franchised and managed stores. With the formal consolidation of Siyanli, the group's store network is expected to exceed 700 locations, bringing beauty and wellness services to more women in higher-tier cities.
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