KAISA HEALTH (00876) released its annual performance with a net loss attributable to shareholders of HK$46.678 million, a 0.7% increase year-on-year.

KAISA HEALTH (00876) released its annual performance for the year ending December 31, 2025. The group achieved revenue of HK$139 million, a decrease of 24.95% year-on-year. The net loss attributable to equity holders of the company was HK$46.678 million, an increase of 0.7% year-on-year. The basic loss per share was 0.93 HK cents. The announcement stated that the main reason for the decrease in revenue was the continued adverse impact of Chinese government policies (group procurement prices), including the establishment of price ceilings for dental products sold domestically, leading to a decrease in the average selling price of dental products. The group has always adhered to the aesthetic restoration concept of "minimally invasive and non-damaging to teeth" in its research and development direction, allowing patients to reduce pain and improve their appearance during dental procedures. The series of digital prosthetic products launched by the brand in 2019, such as the Beauty Max veneers XS, Beauty Max 3D simulated zirconia, Beauty Max E-Z transparent aligners, and active dentures, have been highly recognized by technicians and dentists at home and abroad. The group has always been committed to investing in research and specialized knowledge. Research and development expenses amounted to approximately HK$16.9 million as of December 31, 2025 (2024: approximately HK$12.5 million), with continued investment in research and development reflecting the management's determination and vision for future technological investment in the dental business. On the other hand, government subsidies amounted to approximately HK$200,000 as of December 31, 2025 (2024: approximately HK$900,000). The group continues to expand its research and development center team for dental implants in China and the United States. Approval for changes in the registration of implants in more sizes was obtained from the National Medical Products Administration in July 2024. The group continues to improve and expand its implant production capacity, investing in the construction of the implant production factory - BTP (Chengdu) Medical Devices Co., Ltd. (BTP) in Chengdu. BTP obtained its business license in June 2024, received a Class III Medical Device Operating Permit and a Class II Medical Device Operating Record Certificate in November 2024, passed ISO 13485 certification in August 2025, obtained a Class II Medical Device Production Permit in September 2025, and began smooth production, with a continuous increase in production capacity. This not only ensures stable supply in public hospital markets but also lays a solid foundation for the group to expand overseas markets. In addition, there was a significant increase in the use of implant products in clinical institutions during the fiscal year, with the group's implants being used in more dental chain institutions in Shandong and Shanghai. In 2025, the Shenzhen Branch of the Society of Sports Medicine and Health of the Shenzhen Preventive Medicine Association, led by Peking University Shenzhen Hospital, was established. The HJ Sports Rehabilitation brand became one of the first member units, and the HJ Rehabilitation Medical brand continued to be recognized by the industry. The number of patients received and customer satisfaction at HJ Rehabilitation Outpatient Clinic increased compared to the previous year.