Jinhai Medical Technology Limited (Jinhai Med Tech) reported a consolidated net loss of S$17.40 million for the year ended 31 December 2025, trimming the prior-year loss of S$18.26 million. Basic and diluted loss per share improved slightly to Singapore 0.33 cent from 0.35 cent.
Revenue slipped 7.9% year on year to S$46.28 million, weighed down by a 65% contraction in dormitory services income (to S$2.92 million) and a 16.1% decline in manpower outsourcing fees (to S$12.69 million). These falls offset a 15.6% increase in minimally invasive surgery solutions and related medical product sales, which climbed to S$29.96 million and accounted for 64.8% of group turnover, up from 51.6% a year earlier.
Gross profit fell 37.3% to S$7.19 million, and gross margin compressed to 15.5% (FY2024: 22.8%), reflecting the sharp drop in higher-margin dormitory contributions. Administrative costs decreased 23.5% to S$24.46 million, primarily due to lower equity-settled share-based payments. Finance costs edged down 12.7% to S$0.68 million.
SEGMENT & GEOGRAPHICAL MIX • Products (minimally invasive surgery and medical devices): Revenue up S$4.04 million to S$29.96 million; loss before tax reduced to S$2.09 million. • Services (outsourcing, dormitories, IT, construction ancillary): Revenue down S$7.99 million to S$16.31 million; swung to a pre-tax loss of S$3.51 million from a profit of S$1.70 million. • China contributed S$29.99 million (64.8% of total revenue), up from S$25.93 million, while Singapore revenue contracted to S$13.36 million (28.9% of total) from S$15.90 million.
BALANCE SHEET & CASH FLOW Total assets rose to S$88.83 million (FY2024: S$58.87 million) after the August 2025 share placement that raised net proceeds of approximately HK$161.0 million (about S$26.64 million). Bank and cash balances surged to S$35.59 million from S$10.45 million. Net assets increased 56.3% to S$51.96 million, while the gearing ratio improved to 28.7% (FY2024: 44.3%). Trade receivables more than tripled to S$15.38 million, largely reflecting higher sales in China.
CASH UTILISATION PLANS As of 31 December 2025, the company held: • HK$12.00 million (S$2.10 million) of unutilised proceeds from its October 2023 placement, earmarked for expanding manpower outsourcing in 2026. • HK$161.00 million (S$28.12 million) of unspent funds from the August 2025 placement, allocated to healthcare M&A, R&D and working capital, with full deployment targeted by end-2026.
STRATEGIC SHIFT & OUTLOOK Management plans to concentrate resources on the fast-growing minimally invasive surgery market in China, citing industry forecasts that project the domestic market to expand at a 9.45% CAGR to USD2.68 billion by 2030. Conversely, Singapore’s pivot from infrastructure to AI initiatives is expected to dampen demand for construction-linked services, prompting tighter cost control and cash preservation.
SUBSEQUENT EVENTS In January 2026, the group formed Jinhai Biomedical Technology (Shanghai) Co., Ltd., a 51:49 joint venture with Shanghai Emphasis Investment, to deepen its footprint in medical products. In February 2026, partners agreed to lift the venture’s registered capital from RMB5 million to RMB25 million.
DIVIDEND No dividend was declared for FY2025, consistent with the prior year.
AUDIT & GOVERNANCE ZHONGHUI ANDA CPA Limited has agreed the figures in this results announcement to the audited financial statements. The company states it complied with Hong Kong’s Corporate Governance Code throughout the year, and the board confirms sufficient public float was maintained.
Comments