Dentis 2025: Net Profit Turns from Profit to Loss, Bad Debt Provision Accounts for Approximately 23% of Accounts Receivable

Image Source: Dentis 2025 Annual Business Report (Revised)

DentalGoodNews | On March 30, 2026, South Korean dental medical equipment manufacturer Dentis (261200.KQ) released a revised announcement for its 2025 Annual Business Report (기재정정). The report shows that the company's 2025 operating revenue was 92.689 billion KRW (approximately 418 million RMB), a slight decrease of about 2.0% compared to 94.588 billion KRW (approximately 426 million RMB) in 2024. The current period net profit shifted from a profit of 4.521 billion KRW (approximately 20 million RMB) in the previous year to a loss of 5.904 billion KRW (approximately 27 million RMB), indicating a significant performance downturn.

According to the consolidated audit report, Dentis achieved an Operating Profit of 925 million KRW (approximately 4.2 million RMB) in 2025, but this represents a significant decline compared to 2.866 billion KRW (approximately 13 million RMB) in 2024. Changes on the expense side show a substantial increase in credit impairment losses (대손상각비). In 2025, the company recorded bad debt expenses of 5.536 billion KRW (approximately 25 million RMB), a significant increase from 1.049 billion KRW (approximately 4.7 million RMB) in 2024, becoming one of the important factors affecting the current period's profit.

Image Source: Dentis 2025 Annual Business Report (Revised)

As of the end of 2025, the company's allowance for doubtful Accounts Receivable balance was 19.674 billion KRW (approximately 89 million RMB), further increasing from 14.139 billion KRW (approximately 64 million RMB) at the end of 2024. During the same period, the gross Accounts Receivable balance was 84.991 billion KRW (approximately 383 million RMB), with the allowance for doubtful accounts accounting for approximately 23.1%.

Regarding asset quality, the company's net Accounts Receivable amounted to 65.317 billion KRW (approximately 294 million RMB), showing an improvement compared to the end of the previous year. However, the simultaneous increase in the allowance for doubtful accounts reflects a strengthening of credit risk provisioning efforts.

During the reporting period, the company established new subsidiaries in Thailand, Vietnam, and Australia, indicating continued progress in overseas expansion. However, the specific quantitative contribution of each region to the overall performance was not disclosed.