HIPINE (02583) announced its performance for the year 2025, with a net profit of 1.02 billion yuan, an increase of 106.5% compared to the previous year.

HIPINE (02583) released its annual performance as of December 31, 2025, with revenue of 611 million yuan (RMB, the same below), a year-on-year growth of 33.8%; net profit of 102 million yuan, a year-on-year growth of 106.5%; and earnings per share of 2.00 yuan. The group's income growth in this period mainly comes from the increase in sales revenue of jewelry, primarily driven by the growth in ODM business revenue from selling gold products to Customer A. The group's mature cooperation with Customer A has continuously increased the platform market penetration rate and consumer trust, leading to a significant increase in jewelry sales revenue from Customer A. The group's gross profit margin increased from 27.2% in 2024 to 31.5% in 2025, mainly driven by the increase in gross profit margin of watch products. In the traditional precious metal watches sold by the group in 2025, the average weight of gold contained in the traditional watches sold by the group has decreased compared to 2024, leading to a decrease in the average production cost per watch, thereby pushing up the gross profit margin of watch products.