Redco Healthy Living Company Limited released its audited results for the year ended 31 December 2025.
Core financials • Revenue declined 4.6% year-on-year to RMB400.53 million, pressured mainly by a 59.7% contraction in value-added services to non-property owners. • Gross profit retreated 14.6% to RMB96.91 million; gross margin slipped to 24.2% from 27.0%. • Net loss narrowed 53.9% to RMB9.25 million, translating into a basic and diluted loss per share of RMB8.77 cents (2024: RMB14.21 cents). • No final dividend was declared, unchanged from the prior year.
Segment performance • Property management services remained the growth driver, with revenue rising 3.8% to RMB331.01 million, underpinned by expanded managed area and higher fees. • Revenue from value-added services to non-property owners dropped to RMB20.78 million, reflecting fewer sales-office and pre-delivery projects from Redco Properties Group. • Community value-added services were broadly stable at RMB48.75 million. • Segment margins softened across the board: property management (23.0%), value-added services to non-property owners (27.1%) and community value-added services (31.1%).
Cost and expense dynamics • Cost of services edged down 0.8% to RMB303.63 million, aligning with the revenue contraction. • General and administrative expenses increased 25.3% to RMB70.40 million, driven by professional fees tied to asset acquisitions and connected-transaction renewals. • Impairment losses on financial assets fell to RMB21.51 million from RMB40.98 million, while impairment on goodwill and PPE declined to RMB6.01 million from RMB24.65 million.
Balance-sheet highlights • Cash and cash equivalents stood at RMB134.57 million (2024: RMB137.48 million). • Net current assets totalled RMB176.01 million, with a current ratio of 1.54 (2024: 1.68). • Total interest-bearing borrowings were RMB13.05 million; gearing ratio inched up to 4.6% (2024: 4.1%). • Property, plant and equipment decreased to RMB36.40 million after RMB7.25 million of depreciation and RMB6.01 million of impairments. • Intangible assets fell to RMB30.06 million following RMB4.73 million of amortisation.
Operational metrics • Total contracted gross floor area (GFA) expanded 8.0% to 29.5 million sq m. • GFA under management grew 12.4% to 23.7 million sq m.
Subsequent event On 16 January 2026, Redco Healthy agreed to acquire parking spaces and commercial/residential units worth RMB159.12 million from Redco Properties Group by offsetting outstanding receivables and deposits. Concurrently, new three-year framework agreements were signed with Redco Properties covering property management, healthcare, IT services and car-park sales agency arrangements.
Management outlook The company plans to strengthen its foothold in core regions, deepen service standardisation, enhance cost-control mechanisms and accelerate deployment of smart-technology solutions to support a transition toward higher-quality growth in 2026.
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