HIPINE: Interim Report 2025

During the first half of 2025, Cipni recorded operating revenue of RMB 288 million, representing a year-on-year increase of 27.2%. Gross profit margin rose from 25.1% in the same period last year to 31.2%, while net profit surged by 108.8% to approximately RMB 56.52 million. The revenue growth was primarily driven by the robust development of the watch and jewelry businesses, with jewelry business revenue increasing significantly by 184.4% to RMB 138 million.The Group continued to optimize its product mix and strengthen cost control, resulting in a 6.1 percentage point increase in gross margin. During the period, the Group actively expanded its sales network, broadening market coverage through both online and offline channels. It also partnered with the world's largest retailers and supermarket chains to promote...Show More

During the first half of 2025, Cipni recorded operating revenue of RMB 288 million, representing a year-on-year increase of 27.2%. Gross profit margin rose from 25.1% in the same period last year to 31.2%, while net profit surged by 108.8% to approximately RMB 56.52 million. The revenue growth was primarily driven by the robust development of the watch and jewelry businesses, with jewelry business revenue increasing significantly by 184.4% to RMB 138 million.The Group continued to optimize its product mix and strengthen cost control, resulting in a 6.1 percentage point increase in gross margin. During the period, the Group actively expanded its sales network, broadening market coverage through both online and offline channels. It also partnered with the world's largest retailers and supermarket chains to promote and sell its products within China.Looking ahead, the Group will continue to deepen its brand-building efforts, enhance research and development capabilities, and plans to further expand production capacity and optimize its operational network. The Group successfully listed on the Main Board of the Hong Kong Stock Exchange on September 30, 2025, issuing 10.6 million H-shares, thereby securing sufficient funding support for future development.