Smoore International Reports 2025 Results: Revenue Up 20.8% YoY to RMB 14.256 Billion, Net Profit Down 18.5% to RMB 1.062 Billion

Smoore International announced its annual results for the year ended December 31, 2025. In 2025, the company recorded revenue of RMB 14.256 billion, up 20.8% year-on-year; net profit of RMB 1.062 billion, down 18.5% year-on-year; and adjusted net profit of RMB 1.530 billion, up 1.3% year-on-year.

Key Highlights

• 2025 revenue reached RMB 14.256 billion, up 20.8% year-on-year.
• Gross profit was RMB 4.857 billion, with a gross margin of 34.1%.
• Net profit was RMB 1.062 billion, down 18.5% year-on-year.
• Adjusted net profit was RMB 1.530 billion, up 1.3% year-on-year.
• Revenue from the ToB business was RMB 11.344 billion, up 21.7% year-on-year.
• Revenue from the self-branded business was RMB 2.912 billion, up 17.6% year-on-year.

2Firsts, March 17, 2026

Smoore International Holdings Limited has announced its annual results for the year ended December 31, 2025.

According to the announcement, the company’s revenue in 2025 was RMB 14.256 billion, compared with RMB 11.799 billion in 2024, representing a year-on-year increase of 20.8%. Gross profit reached RMB 4.857 billion, compared with RMB 4.412 billion in 2024. Gross margin was 34.1%, compared with 37.4% in the previous year.

In terms of profitability, profit before tax was RMB 1.476 billion in 2025, compared with RMB 1.655 billion in 2024. Net profit was RMB 1.062 billion, compared with RMB 1.303 billion in 2024, down 18.5% year-on-year. Adjusted net profit was RMB 1.530 billion, compared with RMB 1.509 billion in the previous year, up 1.3% year-on-year.

By business segment, revenue from the self-branded business reached RMB 2.912 billion in 2025, up 17.6% year-on-year, while revenue from the enterprise customer business reached RMB 11.344 billion, up 21.7% year-on-year, accounting for 79.6% of total revenue.

By region, revenue from Europe and other countries and regions totaled RMB 10.548 billion, revenue from the U.S. market was RMB 4.597 billion, and revenue from the China market was RMB 257 million.

As of December 31, 2025, the company held RMB 7.323 billion in cash and cash equivalents. The board has proposed a final dividend of HK$0.20 per ordinary share for the year ended December 31, 2025.

Image source: Smoore