Core Viewpoint - Helen's reported a revenue of RMB 539 million for the year ending December 31, 2025, representing a year-on-year decrease of 28.34%, while achieving a profit attributable to shareholders of RMB 33.95 million, marking a turnaround from loss to profit [2] Financial Performance - The company's revenue for 2025 was RMB 539 million, down 28.34% year-on-year [2] - Profit attributable to shareholders was RMB 33.95 million, indicating a return to profitability [2] - Earnings per share stood at RMB 0.027, with a final dividend of RMB 0.0554 [2] Gross Margin and Product Contribution - The gross margin contribution from stores reached 73.77% in 2025, an improvement from 2024 [2] - The gross margin for Helen's proprietary beverages increased from 76.6% in 2024 to 79.8% in 2025, driven by enhanced supply chain capabilities and popular new product launches [2] - Revenue from Helen's proprietary products accounted for 72.4% of total revenue, up from 70.5% in 2024 [2] Store Network Expansion - The company expanded its tavern network through the "Hi Beer Partner" program, increasing the total number of stores from 560 at the end of 2024 to 576 by the end of 2025 [2] - The store count further increased to 578 by March 19, 2026, maintaining its leadership position in the industry [2] Future Outlook - The company plans to continue solidifying and expanding its direct store network while optimizing the franchise model through the "Hi Beer Partner" program [2] - There will be a focus on enhancing supply chain management and creating engaging environments, alongside exploring new models like "third space" to continuously create value for consumers [2]

Core Viewpoint - Helen's (09869.HK) reported a revenue of approximately RMB 539 million for the fiscal year ending December 31, 2025, representing a year-on-year decrease of 28.34% [1] - The company achieved a profit attributable to owners of approximately RMB 33.95 million, compared to a loss of approximately RMB 77.98 million in the previous year [1] - Adjusted net profit was approximately RMB 67.69 million, reflecting a year-on-year growth of 3.52% [1] Revenue Performance - The decline in revenue was primarily due to a reduction in the number of directly operated stores in 2025 compared to the full year of 2024, along with a decrease in same-store performance influenced by market fluctuations [1] - The revenue contribution from the franchise business increased from 25.9% in 2024 to 34.0% in 2025 as the company continued to develop its "Hi Beer Partner" tavern network [1] Gross Profit Margin - The gross profit margin at the store level for the fiscal year 2025 was 73.77%, further improving from 2024 [2] - The gross profit margin for Helen's proprietary beverages increased from 76.6% in 2024 to 79.8% in 2025, benefiting from enhanced supply chain capabilities and the popularity of new products [2] - The revenue contribution from Helen's proprietary products rose to 72.4% in 2025, up from 70.5% in 2024 [2] Store Network Expansion - The total number of stores increased from 560 at the end of 2024 to 576 by the end of 2025, with further growth to 578 as of March 19, 2026, maintaining a leading position in the industry [2] - The company plans to continue solidifying and expanding its directly operated store network while optimizing the "Hi Beer Partner" franchise model [2] Future Outlook - The company aims to strengthen supply chain integration management and enhance the creation of spatial environments, exploring new models such as "third space" to continuously create new value for consumers [2]

Core Viewpoint - Helen's (09869) reported a revenue of RMB 539 million for the year ending December 31, 2025, representing a year-on-year decrease of 28.34%, while achieving a net profit attributable to shareholders of RMB 33.95 million, marking a turnaround from losses [1] Financial Performance - The company's gross profit margin at the store level for 2025 was 73.77%, an increase from 2024 [1] - The gross profit margin for Helen's proprietary beverages rose from 76.6% in 2024 to 79.8% in 2025, driven by improved supply chain capabilities and popular new product launches [1] - Revenue from Helen's proprietary products accounted for 72.4% of total revenue in 2025, up from 70.5% in 2024 [1] Store Network Expansion - The total number of stores increased from 560 at the end of 2024 to 576 by the end of 2025, with further growth to 578 by March 19, 2026, maintaining a leading position in the industry [1] - The company continued to expand its tavern network through the "Hi Beer Partner" program [1] Future Outlook - The company plans to solidify and expand its direct store network while developing a franchise store network through the continuously optimized "Hi Beer Partner" model [1] - There will be a focus on enhancing supply chain integration management and creating spatial environments, alongside exploring new models like the "third space" to continuously create new value for consumers [1]