YSB (09885) announced its annual results for the period ended December 31, 2025. The company recorded revenue of RMB20.97 billion, representing a year-on-year increase of 17.13%. Profit attributable to owners of the company was RMB153 million, a significant increase of 409.66% compared to the previous year. Basic earnings per share were RMB0.224. The board proposed a final dividend of RMB0.110 per share.
The increase in revenue was primarily attributed to (i) the continued development of self-operated business during the reporting period; and (ii) the company's acquisition activities injecting new momentum into the group's revenue growth. During the reporting period, the company demonstrated strong resilience in a volatile market, achieving steady business growth. This was driven by the company's ongoing insight into user needs, the construction of full-scenario service capabilities, and the deep empowerment provided by digital tools.
During the reporting period, the company's monthly average active buyers reached 461,000, a year-on-year increase of 6.5%. The monthly average paying buyers were 435,000, up 8.4% year-on-year. User stickiness improved significantly, with the company's paying rate—the ratio of monthly average paying buyers to monthly average active buyers—remaining stable at a high level of 94%. The average number of monthly orders per paying buyer was approximately 29.6.
The company comprehensively enhanced the richness of platform products during the reporting period, covering more customer demand scenarios. Through big data analysis and user demand insights, the platform accurately selected products, optimized and expanded categories, ensuring that listed merchandise met market demand. The platform's monthly average SKU count continued to grow to approximately 4.2 million during the period.
In response to the consumption upgrade trend in prepared Chinese herbal medicine slices, the platform, by optimizing and promoting its "Gold Formula" standards, strengthening user education and coverage, and leveraging digital technological innovation, built a full-chain digital ecosystem from the field to the end-user. Simultaneously, the platform business strictly implemented quality control standards for prepared Chinese herbal medicine slices, promoting the industry's transition from "experience-based processing" to "data-driven" practices.
YSB penetrated genuine medicinal material production areas to achieve control over the source of materials. Relying on the established 365 "Gold Formula" varieties and 898 grade standards, it encouraged upstream sellers of prepared Chinese herbal medicine slices on its platform to extend their industrial chain to the source areas, improving the traceability system and enhancing quality control throughout the entire production process of Chinese medicine. During the reporting period, the company sold approximately 40,000 tons of prepared Chinese herbal medicine slices to downstream buyers, a year-on-year increase of approximately 32.8%.
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