Bixin IoT's 2025 revenue slightly decreased by 0.97%, with net profit loss expanding to 85.42 million yuan

Blue Whale News, April 2—On April 2, Bexing Wulian released its 2025 performance report. The data shows that in 2025, the company achieved operating revenue of 326 million yuan, down 0.97% year over year; net profit attributable to shareholders was -85.4252 million yuan, widening losses from -38.5461 million yuan in 2024; non-recurring gains and losses excluded net profit was -97.5210 million yuan, also showing an expansion of losses compared with -52.6241 million yuan last year; net cash flow from operating activities for the full year was -43.8393 million yuan, turning from a net inflow of 188 million yuan in the prior year to a net outflow; and the comprehensive gross profit margin fell by 10.78 percentage points year over year to 13.53%.

By quarter, the loss in the fourth quarter of 2025 shows a clear pattern of concentrated release. The single-quarter operating revenue was 141 million yuan, accounting for 43.31% of the full year; net profit attributable to shareholders was -45.1093 million yuan, accounting for 52.81% of the full-year loss; and non-recurring gains and losses excluded net profit was -49.0370 million yuan, accounting for 50.28%.

The company’s main business structure continues to extend toward servicification. Environmental monitoring instruments and systems, together with environmental monitoring operation services, account for 88.54% of main business revenue. The revenue proportion structure of the two has further converged compared with prior years: the former fell slightly year over year, while the latter rose marginally year over year.

Regional distribution remains highly concentrated. Revenue in South China accounted for 32.55%, which was 10.23 and 16.27 percentage points higher than in North China and Southwest China, respectively; North China and Southwest China together accounted for 38.60%. The combined revenue share of South China, North China, and Southwest China totaled 71.15%.

In 2025, R&D expenses were 46.7619 million yuan, up 12.36% year over year. The R&D-to-revenue ratio rose to 14.34%, the highest level in recent years; the number of R&D personnel decreased from 106 to 103. The coexistence of an increase in the selling expense ratio and an increase in the R&D expense ratio reflects that even amid a backdrop of contraction in industry demand, the company continues to maintain its technical investment intensity.