Ruihe Data 2025 Results: Revenue Drops 14.9% to RMB 321.38 Million, Net Loss Narrows 10%

Ruihe Data Technology Holdings Limited released its audited results for the year ended 31 December 2025.

Revenue and Segment Mix • Revenue fell 14.9% year-on-year to RMB 321.38 million. • Data-solutions revenue contracted 60.6% to RMB 58.26 million, cutting its share of total sales from 39.2% to 18.1%. • Hardware & software integrated services expanded 48.4% to RMB 147.00 million, now 45.7% of revenue. • Commodities trading slipped 14.2% to RMB 107.17 million, representing 33.3% of turnover. • A new cryptocurrency-mining line added RMB 8.05 million, entering the revenue mix at 2.5%.

Profitability • Gross profit declined 32.5% to RMB 25.72 million; gross margin contracted 2.1 percentage points to 8.0% as lower-margin hardware sales grew within the mix. • Net loss narrowed 10.0% to RMB 66.66 million, supported by cost controls: – Selling expenses down 30.0% to RMB 5.87 million. – Administrative expenses down 13.7% to RMB 46.22 million. – R&D expenses down 67.7% to RMB 10.04 million. • Basic and diluted loss per share improved to RMB 8.6 cents (2024: RMB 11.4 cents).

Balance Sheet and Cash Flow • Cash and cash equivalents rose to RMB 31.88 million (2024: RMB 16.40 million). • Net current liabilities widened to RMB 125.10 million. • Gearing ratio surged to 1,623.30% (2024: 277.90%) due to higher director loans and lower equity. • Net cash used in operations was RMB 6.99 million; investing outflows reached RMB 72.14 million, largely for financial asset purchases; financing inflows totaled RMB 94.63 million, reflecting new share issuance and borrowings.

Capital Moves and Investments • May 2025 placing raised net proceeds of HKD 38.65 million, fully applied to working capital (HKD 7.73 million) and debt repayment (HKD 30.92 million). • December 2025: invested USD 3.81 million for a 0.47% stake in Tykhe Capital Group Limited, advancing its Web3 strategy. • Total R&D-related intangible asset additions reached RMB 4.20 million; property, plant & equipment additions were RMB 0.67 million.

Post-Year Events • 6 February 2026: completed placing of 108.334 million new shares at HKD 0.783 each, enlarging share capital by 12.05%. • 6 March 2026: board changes—appointment of Mr Wang Jun as executive director, Mr Wu Kezhong as non-executive director; resignation of non-executive director Dr Wu Fu-Shea.

Outlook Management plans to consolidate data-intelligence and marketing-tech capabilities, progress Web3 and digital-asset initiatives, and continue cost optimization while pursuing diversified growth avenues in 2026.