Core Insights - ST Hongda (002211.SZ) reported its Q3 2025 results, revealing that four institutional investors hold a total of 68.71 million shares, representing 15.89% of the company's total equity [1] - The institutional holding percentage decreased by 22.58 percentage points compared to the previous quarter [1] - Foreign investment sentiment showed a slight increase, with Morgan Stanley & Co. International PLC increasing its holdings by 0.23% [1] - A new foreign institution, Goldman Sachs International - Proprietary Capital, was disclosed this quarter, while UBS AG and Barclays Bank PLC were not reported [1] Institutional Holdings - Four institutional investors disclosed holdings in ST Hongda, totaling 68.71 million shares, which is 15.89% of the total share capital [1] - The overall institutional holding percentage saw a significant decline of 22.58 percentage points from the last quarter [1] Foreign Investment - One foreign fund, Morgan Stanley & Co. International PLC, increased its holdings by 0.23% compared to the previous period [1] - A new foreign institution, Goldman Sachs International - Proprietary Capital, was reported this quarter [1] - UBS AG and Barclays Bank PLC were not disclosed in this quarter's report [1]

Business Operations - The Group operates 120 retail pharmacies primarily located in Northeast China, with approximately 1,027 active distributors and 842 full-time staff[8]. - The Group has established 3 large-scale distribution logistics centers in Shijiazhuang, Harbin, and Jiamusi, enhancing its national distribution system[8]. - The main product categories include prescribed drugs, non-prescribed drugs, traditional Chinese medicine, and health care products, among others[9]. - The Group aims to expand its product mix by introducing more health care products based on its expertise in pharmaceutical retail and distribution[11]. - The Group is actively exploring online pharmacies, cross-border e-commerce, and influencer marketing as part of its "Internet+" strategy[12]. - The Group emphasizes the concept of "Specialization+" and "Platform+" to enhance its business model and cope with the "New Norm" in the real economy[12]. - The Group is focused on upgrading and digital transformation within the industry to maintain its competitive edge[12]. - The Group's strategy includes leveraging core advantages of branded products and expanding cooperation in this area[11]. - The Group is committed to developing the upstream ecological chain, including the construction of Chinese herbal medicine bases[11]. - The Group's vision is to become a leading international brand operator in the universal health industry[7]. Financial Performance - Revenue for the year ended June 30, 2025, was RMB 711.5 million, a decrease of 34.7% from RMB 1,089.0 million in 2024[20]. - Gross profit decreased by 37.0% to RMB 113.4 million from RMB 179.9 million[20]. - The company reported an operating loss of RMB 25.5 million, compared to a profit of RMB 0.1 million in the previous year[20]. - Basic loss per share was RMB (32.46) cents, down from RMB 0.62 cents in 2024, representing a decline of 33.08 cents[20]. - The current ratio improved to 1.3 times from 1.0 times, indicating better short-term financial health[20]. - Trade receivables turnover days increased to 33.4 days from 27.8 days, reflecting slower collection of receivables[20]. - The total number of stores as of June 30, 2025, was 120, with 83 stores closed during the year due to lower profitability[32]. - The company is focusing on optimizing its business model and improving operational efficiency in response to market changes[31]. - The Group's retail business revenue was RMB 197.9 million for the Year, representing a year-on-year decrease of 40.4%[60]. - The nationwide distribution business revenue was RMB 513.6 million, a year-on-year decrease of 32.1%[64]. - The Group operated a total of 223 branded products at the end of the Year, following a net reduction of 315 branded products[67]. - The Group had a total of 120 chain stores at the end of the Year, down from 203 in 2024[60]. - The distribution segment revenue decreased by 32.1% to RMB 513.6 million, while retail segment revenue fell by 40.4% to RMB 197.9 million[90]. Market Trends and Strategies - Future industry development is expected to focus on precision medicine, digital health, and the elderly care economy[29]. - The global GDP growth is predicted to slow down to about 2.3% in 2025, impacting operational strategies[29]. - The market size of China's healthcare industry is expected to reach RMB 29.1 trillion by 2030[44]. - The Group aims to enhance its strength and improve the product line-up through the development of integrated outpatient services[37]. - The Chinese government has prioritized the development of the traditional Chinese medicine (TCM) industry, introducing supportive policies to promote high-quality development[45]. - The application of artificial intelligence in disease diagnosis and health management has improved efficiency and accuracy in the healthcare sector[48]. - The PRC has accelerated the construction of the elderly care service system, enhancing service quality and management levels in 2024[50]. - Investment in preventive medicine has increased, focusing on vaccine research and health education to reduce disease occurrence[51]. - The demand for healthcare and elderly care services is continuously growing due to an aging population and increased health awareness[48]. Corporate Responsibility and Sustainability - The Group is committed to corporate responsibility, focusing on environmental, social, and governance aspects to enhance long-term competitiveness[38]. - The company is committed to enhancing sustainability practices and addressing climate impact through ambitious environmental goals[151]. - The company aims to create value for stakeholders through responsible operations, focusing on environmental, operational, and community factors[152]. - The company engages with various stakeholders, including government regulators and investors, to ensure compliance and transparency[156]. - The company actively participates in community welfare projects and addresses social responsibilities[156]. - The Group's emission indicators for the year ended June 30, 2024, include 301.6 kg of nitrogen oxides (NOx) and 90,188.9 kg of carbon dioxide (CO2) with respective emission/revenue ratios of 0.424 and 126.8[163]. - The Group's resource usage for the year ended June 30, 2024, includes 342,208 degrees of electricity, 38,216 liters of petrol, and 1,745 m³ of water, with usage/revenue ratios of 481.0, 53.7, and 2.5 respectively[177]. - The Group actively promotes energy-saving and emission reduction measures among its manufacturers, ensuring compliance with national environmental protection regulations[165]. - The Group has reduced business trips to lower energy consumption and greenhouse gas emissions, utilizing teleconferencing as an alternative[164]. - The Group's commitment to environmental protection includes a "green office" initiative aimed at saving electricity and water through employee awareness and behavior changes[170]. - The Group's policies for energy and water conservation provide specific guidance to employees on reducing environmental impact[179]. - The Group's transportation strategy prioritizes local suppliers to minimize energy consumption during the transportation process[158]. - The Group's environmental initiatives include promoting electronic documentation to reduce paper usage and implementing a paperless office policy[171]. Employee Management and Training - As of June 30, 2025, the Group had 842 employees, with 99.0% located in mainland China[185]. - The employee turnover rate for general staff aged 50 and above was 38.5%, while for those aged 40-49 it was 40.2%[196]. - The Group's management has implemented strict compliance with local employment laws, ensuring fair treatment regardless of nationality, race, gender, or age[186]. - The Group provides environmental protection training for new employees and actively promotes green purchasing practices[181]. - The Group's compensation structure links a portion of employee pay to individual and overall performance, incentivizing high performance[189]. - The Group has a zero-tolerance policy for child labor and forced labor, conducting strict recruitment examinations to prevent such practices[188]. - The Group has established management policies and procedures for human resources to ensure an ideal and safe working environment for employees[198]. - The Group implements national regulations on occupational safety and provides necessary labor protection resources, including white gowns for sales personnel[199]. - Regular monitoring of compliance status is conducted, including checks on fire-fighting equipment and air quality maintenance[199]. - The Group provides social insurance for employees, including employment injury insurance, and liability insurance for directors and senior management[199]. Strategic Initiatives and Future Plans - The Group plans to divest non-primary businesses and optimize store layout to adapt to the competitive pharmaceutical market[37]. - The "Specialization+" strategy will be implemented to improve service professionalism and operational quality, leveraging licensed pharmacists and business institute advantages[134][136]. - The "Platform+" strategy aims to expand value-added services in stores to meet increasing consumer health demands, adapting to new market conditions[137]. - The "Internet+" strategy will strengthen the integration of online and offline services, utilizing mobile internet technologies and e-commerce partnerships[139][140]. - A subscription agreement was entered into on May 13, 2025, for 30,440,263 new shares at HK$0.80 per share, raising approximately HK$24.35 million[141][142]. - The company plans to enhance the integration of online and offline operations through its "Internet+" strategy, leveraging mobile internet applications and new marketing ecosystems[143]. - A total of 30,440,263 new shares were issued at a subscription price of HK$0.80 per share, raising approximately HK$24.35 million[144]. - The authorized share capital will increase from US$10 million to US$50 million, allowing for greater flexibility in future fundraising efforts[146]. - The increase in authorized share capital was approved by shareholders on August 19, 2025, and became effective the same day[147].

截至月份: 2025年9月30日 狀態: 新提交 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 致：香港交易及結算所有限公司 公司名稱: 大健康國際集團控股有限公司 呈交日期: 2025年10月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02211 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | USD | | 0.1 | USD | | 50,000,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 500,000,000 | USD | | 0.1 | USD | | 50,000,000 | 本月底法定/註冊 ...

Core Viewpoint - The company reported a significant decline in revenue and an increase in losses for the fiscal year ending June 30, 2025, primarily due to the impact of new healthcare policies in China [1] Financial Performance - The company recorded revenue of RMB 710 million, a year-on-year decrease of 34.7% [1] - The loss attributable to shareholders was RMB 26 million, compared to a profit of RMB 400,000 in 2024 [1] - Earnings per share were RMB -0.3246, a decline from an adjusted profit of RMB 0.0062 per share in 2024 [1] Market and Operational Challenges - Revenue decline was attributed to the new healthcare policies in China and a decrease in the number of active customers within the national distribution network [1] - The company is actively participating in alliance activities to enhance its industry influence and brand product development [1] Strategic Initiatives - The company is focusing on national strategic initiatives such as "Healthy China," "Beautiful China," "Belt and Road," "Guangdong-Hong Kong-Macao Greater Bay Area," and "Hainan Free Trade Port" to guide its business transformation and upgrade [1] - The company aims to leverage industry experience and focus on technological innovation to explore further business transformation directions [1]

Core Points - The company reported a revenue of approximately 711.5 million, representing a year-on-year decrease of 34.7% [1] - Gross profit was approximately 113.4 million, down 37% year-on-year [1] - The company recorded a loss attributable to owners of 26.06 million, marking a shift from profit to loss compared to the previous year [1] - Earnings per share were reported at a loss of 32.46 cents [1] Revenue Analysis - The decline in revenue is primarily attributed to the impact of new healthcare insurance policies in China [1] - Additionally, there was a decrease in the number of active customers within the national distribution network [1]

Group 1 - The company reported a revenue of approximately 711.5 million, representing a year-on-year decrease of 34.7% [1] - Gross profit was approximately 113.4 million, down 37% compared to the previous year [1] - The company experienced a loss attributable to owners of 26.06 million, marking a shift from profit to loss year-on-year [1] - Earnings per share were reported at a loss of 32.46 cents [1] Group 2 - The decline in revenue is primarily attributed to the impact of new healthcare insurance policies in China [1] - There was a decrease in the number of active customers within the national distribution network [1]

Financial Performance - Total revenue for the year ended June 30, 2025, was RMB 711.5 million, a decrease of 34.7% compared to RMB 1,089.0 million in 2024[3] - Gross profit for the same period was RMB 113.4 million, down 37.0% from RMB 179.9 million in the previous year[3] - The company reported an operating loss of RMB 25.5 million, a decline of RMB 25.6 million from a profit of RMB 0.1 million in 2024[3] - Net loss for the year was RMB 25.7 million, compared to a profit of RMB 0.6 million in 2024, representing a decrease of RMB 26.3 million[3] - Basic loss per share was RMB 32.46, down from earnings of RMB 0.62 per share in the previous year, a decline of RMB 33.08[5] - The gross profit margin decreased to 15.9%, down 0.6 percentage points from 16.5% in 2024[3] - For the fiscal year ending June 30, 2025, total revenue was RMB 774,379,000, a decrease from RMB 1,214,697,000 in the previous year, representing a decline of approximately 36.3%[24] - The company reported a net loss of RMB 25,674,000 for the fiscal year ending June 30, 2025, compared to a net profit of RMB 580,000 in the previous year[24][25] - The loss attributable to the owners of the company was RMB 26.0 million, compared to a profit of RMB 0.4 million in the previous year[50] Assets and Liabilities - Total assets decreased to RMB 447.6 million from RMB 692.9 million in 2024, a decline of 35.4%[6] - Current assets fell to RMB 171.0 million, down from RMB 295.7 million in the previous year, a decrease of 42.1%[6] - Total liabilities decreased to RMB 130.0 million from RMB 340.0 million in 2024, a reduction of 61.8%[7] - The total assets as of June 30, 2025, amounted to RMB 447,603,000, a decrease from RMB 692,877,000 in the previous year, indicating a reduction of approximately 35.3%[24][25] - The total liabilities as of June 30, 2025, were RMB 130,029,000, down from RMB 339,992,000, reflecting a decrease of about 61.8%[24][25] Cash Flow and Financing - The company recorded a net cash outflow from operating activities of RMB 59.8 million for the year[9] - The net cash flow used in operating activities was RMB 59.8 million, a decrease from RMB 101.7 million in the previous year, primarily due to reduced revenue leading to lower inventory purchases[61] - The company has sufficient resources to continue operations for at least the next 12 months, with no significant uncertainties affecting its ability to continue as a going concern[10] - As of June 30, 2025, the company has available but undrawn bank financing of RMB 50,000,000 and loans from former joint ventures amounting to RMB 40,000,000[11] - The company continues to negotiate external financing options, including obtaining further loan financing and refinancing existing loans[11] Operational Changes - The company has closed several loss-making retail stores to minimize cash outflows, which is expected to improve operating profit margins and cash flow[11] - The company has implemented cost control measures to enhance operational efficiency and improve future cash flows[11] - The company has reduced its brand product offerings by 315, maintaining a total of 223 brand products by the end of the year[44] - The company operates a total of 120 chain stores, with a projected increase to 203 stores by 2024[41] - The active customer base in the national distribution network fell to approximately 1,027 from 1,515 in the previous year, with a notable decline in both retail and distributor customers[54] Revenue Breakdown - Revenue from external customers for the year ended June 30, 2025, was RMB 711,509,000, a decrease from RMB 1,089,037,000 for the year ended June 30, 2024[21] - The breakdown of revenue for the year ended June 30, 2025, includes RMB 140,374,000 from prescription drugs and RMB 502,432,000 from over-the-counter drugs[21] - The revenue from external customers for the distribution segment was RMB 513,626,000, while the retail segment generated RMB 197,883,000, contributing to a total external revenue of RMB 711,509,000[24] - The retail business revenue for the year was RMB 197.9 million, a year-on-year decrease of 40.4%[41] - The distribution business revenue was RMB 513.6 million, down 32.1% year-on-year[42] Employee and Operational Metrics - Employee benefit expenses decreased to RMB 68,195,000 in 2025 from RMB 113,440,000 in 2024, a reduction of about 40%[27] - As of June 30, 2025, the group had 842 full-time employees, a decrease from 1,286 in 2024, with total employee benefits expenditure amounting to RMB 68.2 million, down from RMB 113.4 million in 2024[67] Corporate Governance - The company is committed to maintaining high standards of corporate governance and has adopted the corporate governance code as per listing rules, ensuring compliance with applicable provisions[75] - The audit committee consists of three independent non-executive directors, responsible for overseeing the group's financial data and reporting processes[76] - The group's auditor confirmed that the figures in the annual performance announcement align with the audited consolidated financial statements[77] - The company has adopted a code of conduct for securities trading that meets or exceeds the standards set forth in the listing rules[78] Strategic Initiatives - The company plans to focus on the health sector, particularly the pharmaceutical industry, while optimizing its retail network and exploring structural transformation and digital upgrades[69] - The "Professional+" strategy aims to enhance service professionalism and operational quality, leveraging pharmacists and business school advantages to improve pharmaceutical service levels[69] - The "Platform+" strategy will expand value-added services in stores to meet growing consumer health demands, including aging and chronic disease management[70] - The "Internet+" strategy will strengthen the connection between physical stores and online platforms, utilizing new technologies and marketing ecosystems to enhance competitiveness[70] Market Trends - The Chinese government is increasingly focusing on the development of traditional Chinese medicine, with policies aimed at promoting high-quality development in the healthcare sector[36] - The market size of China's health industry is projected to reach RMB 29.1 trillion by 2030, driven by aging population and rising health awareness[36] - Technological innovations such as AI, big data, and IoT are being widely applied in healthcare, enhancing diagnostic efficiency and service quality[37] - The company is expected to accelerate the construction of elderly care service systems and improve service quality in 2024[37] - The company is focusing on community and home-based elderly care services to meet diverse aging needs[37]

Core Viewpoint - The company, Great Health International (02211.HK), anticipates a net loss of no less than RMB 25.7 million for the fiscal year ending June 30, 2025, following a net profit of approximately RMB 600,000 for the fiscal year ending June 30, 2024 [1] Financial Performance - The transition from net profit to net loss is primarily attributed to the recognition of gains from the sale of subsidiaries in the fiscal year ending June 30, 2024 [1]

据董事所深知，由净溢利转为净亏损乃主要归因于截至2024年6月30日止年度，出售附属公司的收益已 于损益中确认。 智通财经APP讯，大健康国际(02211)发布公告，预期集团将于本年度(截至2025年6月30日止年度)取得 净亏损不少于人民币2570万元，而截至2024年6月30日止年度则取得约人民币60万元的净溢利。 ...

大健康国际(02211)发布公告，预期集团将于本年度(截至2025年6月30日止年度)取得净亏损不少于人民 币2570万元，而截至2024年6月30日止年度则取得约人民币60万元的净溢利。 据董事所深知，由净溢利转为净亏损乃主要归因于截至2024年6月30日止年度，出售附属公司的收益已 于损益中确认。 ...