TOPCHOICE MEDICAL CORPORATION: 2025 Revenue of 2.913 Billion Yuan, with Declines in Both Implant and Pediatric Dentistry IncomeIssuing time:2026-04-17 19:18
2025 Revenue: 2.913 Billion Yuan / 2025 Net Profit Attributable to Shareholders Excluding Non-recurring Items Slightly Decreased by 0.04% / Q1 2026 Total Operating Costs Increased Approximately 2.3% Year-on-Year DentalGoodNews | On April 17, 2026, TOPCHOICE MEDICAL CORPORATION. (600763.SH) released its 2025 Annual Report and 2026 First Quarter Report. The reports show that the company achieved operating revenue of approximately 2.913 billion yuan in 2025, an increase of 1.37% compared to 2.874 billion yuan in 2024; net profit attributable to shareholders of the listed company was 502 million yuan, an increase of 0.19% compared to 501 million yuan in the previous year; net profit attributable to shareholders of the listed company excluding Non-recurring Gains and Losses was 496 million yuan, a slight decrease of 0.04% year-on-year; net cash flow from operating activities was 811 million yuan, an increase of 6.26% year-on-year.
Entering the first quarter of 2026, the company achieved operating revenue of 755 million yuan, an increase of 1.43% year-on-year; net profit attributable to shareholders of the listed company was 187 million yuan, an increase of 1.66% year-on-year; net profit attributable to shareholders of the listed company excluding Non-recurring Gains and Losses was 185 million yuan, an increase of 1.37% year-on-year; net cash flow from operating activities was 161 million yuan, an increase of 9.07% year-on-year; basic earnings per share were 0.42 yuan, an increase of 2.44% compared to the same period last year.
From the perspective of business structure, the revenue distribution across various departments remained relatively stable in 2025. Among them, the implant business achieved revenue of 519 million yuan, a year-on-year decrease of 2.08%; the Orthodontics business achieved revenue of 510 million yuan, a year-on-year increase of 7.63%; the pediatric business revenue was 487 million yuan, a year-on-year decrease of 2.69%; the prosthodontics business revenue was 466 million yuan, a year-on-year increase of 0.72%; the comprehensive business revenue was 783 million yuan, a year-on-year increase of 2.27%. The segmented business revenue for the first quarter has not yet been disclosed.
Regarding costs and expenses, the company's operating costs in 2025 were 1.788 billion yuan, an increase of 1.16% year-on-year, mainly due to increased costs such as leasing, decoration, and depreciation brought by newly opened hospitals; selling expenses were 34 million yuan, an increase of 7.55% year-on-year, primarily due to increased investment in oral health education for newly built and existing hospitals; administrative expenses were 320 million yuan, an increase of 0.97% year-on-year; financial expenses were 41 million yuan, a decrease of 15.38% year-on-year; R&D expenses were 61 million yuan, an increase of 3.86% year-on-year.
In the first quarter of 2026, the company's total operating costs were 529 million yuan, an increase of approximately 2.3% year-on-year; selling expenses were 8.3364 million yuan, an increase of approximately 19.4% year-on-year; administrative expenses were 75.2435 million yuan, an increase of approximately 3.6% year-on-year; R&D expenses were 12.4288 million yuan, an increase of approximately 4.1% year-on-year; financial expenses were 8.2328 million yuan, a decrease of approximately 11.3% year-on-year.
In 2025, the company's cash flow performance improved. Net cash flow from operating activities was 811 million yuan, an increase of 6.26% year-on-year, mainly due to an increase in cash received from selling goods and providing services; net cash flow from investing activities was -279 million yuan, mainly due to expenditures on purchasing and constructing fixed assets and external investments; net cash flow from financing activities was -455 million yuan, with the year-on-year decrease mainly attributed to increased cash dividends.
Regarding assets and liabilities, as of March 31, 2026, the company's total assets were 6.239 billion yuan, an increase of 3.26% compared to 6.042 billion yuan at the end of the previous year; total liabilities were 1.453 billion yuan, slightly decreased compared to the end of the previous year; equity attributable to shareholders of the listed company was 4.421 billion yuan, an increase of 4.41% compared to 4.234 billion yuan at the end of the previous year. At the level of medical institution operations, the company's outpatient visits reached 3.5736 million in 2025, a year-on-year increase of 1.14%. As of December 31, 2025, the company operated 89 medical institutions, had 4,452 professional medical staff, an operating area exceeding 280,000 square meters, and configured 3,180 dental chairs, forming a service system covering a regional medical network.
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Industry Finance
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