维健国际控股集团有限公司WinHealth International Holding Group Company Limited
2024年处置分销权一次性收益2,750万元
We recognized gains on the disposal of distribution and promotion rights of RMB27.5 million in 2024.
Financial Information · 第 232 页
The disposal of the distribution rights was a strategic decision to optimize our product portfolio and reallocate capital resources towards therapeutic areas that are more closely aligned with our long-term development strategy.
Financial Information · 第 232 页
In August 2025, we modified the terms of the Series A Preferred Shares to align with those of the Series B Preferred Shares, including adjustments to the annual return rate and other terms. These modifications resulted in a gain recognized in profit or loss.
Our other gains primarily consisted of (i) net realized and unrealized gains on financial assets at fair value through profit or loss (“FVPL”); (ii) gains on disposal of certain businesses, representing the disposal of certain businesses that were no longer aligned with our growth strategy to a third party in 2024; and (iii) net foreign exchange gains.
Financial Information · 第 186 页
This decrease was primarily due to a loss on disposal of an associate in 2025 following our assessment of the associate’s business prospects and alignment with our strategic priorities, and the non-recurrence of gains recorded in 2024 arising from the disposal of certain businesses that were no longer aligned with our growth strategy.
Our other net income increased from RMB0.3 million in 2024 to RMB15.7 million in 2025, primarily due to an increase of RMB15.3 million in government grants.
Financial Information · 第 192 页
Our other net income decreased from RMB2.2 million in 2023 to RMB0.3 million in 2024, primarily due to the decrease of RMB1.6 million in government grants.
Financial Information · 第 194 页
the amount and timing of which are subject to the progress of relevant activities and local government fiscal arrangements and are therefore not predictable or recurring in nature
During the Track Record Period, our other losses, net, primarily consisted of (i) investment loss on disposals of financial assets at FVTOCI; (ii) net foreign exchange gains or losses; (iii) net losses on disposals of property, plant and equipment, intangible assets, and right-of-use assets; (iv) losses on materials arising from raw material write-offs due to the termination of planned product development and sales and (v) others.
Financial Information · 第 210 页
Our other losses, net decreased by 30.6% from RMB6.0 million for the year ended December 31, 2023 to RMB4.1 million for the year ended December 31, 2024, which was primarily attributable to (i) a decrease in net losses on disposal of property, plant and equipment and intangible assets from RMB2.4 million for the year ended December 31, 2023 to RMB0.6 million for the year ended December 31, 2024 as we substantially completed the disposal of property, plant and equipment during the closure of our Pinghu Facility in 2024 and (ii) a decrease in losses for materials from RMB4.0 million for the year ended December 31, 2023 to RMB2.7 million for the year ended December 31, 2024 due to the gradual disposal of raw material arising from the termination of planned product development.
Financial Information · 第 217 页
This decrease was primarily attributable to (i) a decrease in losses on materials from RMB2.7 million for the year ended December 31, 2024 to nil for the year ended December 31, 2025 due to the completion of disposal of raw material arising from the termination of planned product development; and (ii) the decrease in net losses on the disposal of property, plant and equipment and intangible assets from RMB0.6 million for the year ended December 31,
上海悦普数智科技股份有限公司Shanghai Yuepu Digital Intelligence Technology Co., Ltd.
2023年增值税加计抵减580万致其他收入回落
Our other income and gains decreased by 42.1% from RMB11.8 million in 2023 to RMB6.8 million in 2024, primarily due to the absence of additional VAT deduction of RMB5.8 million in 2024, partially offset by an increase of RMB0.6 million in government grants.
Financial Information · 第 214 页
Our other income and gains remained relatively stable at RMB6.8 million in 2024 and RMB7.1 million in 2025.
广东真健康医疗科技开发股份有限公司Guangdong True Health Medical Technology Development Co., Ltd.02697.HK
非经常性政府补助远超同期收入
Government grants | 31,904 | 42,560
Financial Information · 第 239 页
Our other income and gains increased by 36.7% from RMB33.3 million in 2024 to RMB45.5 million in 2025, primarily due to (i) an increase in government grants.
Financial Information · 第 240 页
During the Track Record Period, our government grants were primarily attributable to industry development funds provided to support our research and development activities and one-off incentives awarded under the Hengqin International Sci-Tech Innovation Competition (橫琴國際科技創新創業大賽), both of which were granted by the relevant local government authorities and were non-recurring in nature.
Our gains in 2023 and 2024 primarily consist of gain on disposal of items of property, plant and equipment and gain on disposal of items of land use right.
Financial Information · 第 215 页
Our other income and gains decreased by 42.3% from RMB43.4 million in 2023 to RMB25.0 million in 2024, primarily due to a decrease of RMB28.6 million in gains as we have fully recognized the gain on disposal of items of land use right relating to the relocation of our facilities in 2023.
Our other income and gains decreased by 71.7% from RMB14.5 million in 2023 to RMB4.1 million in 2024 as our Group received an one-off reward of RMB3.0 million granted by Xiamen Municipal Government Office for recognizing our Group’s contribution to Xiamen’s investment promotion which was absent during the year of 2024 and the cessation of special-deduction of input VAT policies during the year 2024.
Our other net income decreased by 59.4% from RMB23.3 million in 2024 to RMB9.5 million in 2025.
Financial Information · 第 246 页
The decrease was primarily attributable to a reduction in government grants (including amortization of deferred income) from RMB22.0 million in 2024 to RMB8.2 million in 2025, reflecting the discretionary and uncertain nature of government grant disbursements.
Financial Information · 第 246 页
The decrease in other net income from 2024 to 2025 was primarily attributable to a reduction in government grants recorded, reflecting the discretionary and uncertain nature of government funding, as well as a decline in investment income resulting from reduced cash balances available for investment in structured deposits.
Our other income and gains increased by 493.5% from RMB4.9 million in 2024 to RMB29.1 million in 2025. The increase was primarily attributable to the increase in government grants received during the year including subsidies associated with industrial development and business operations.
Financial Information · 第 179 页
As these government grants are generally non-recurring in nature and subject to the policies of relevant government authorities.
Financial Information · 第 179 页
Our other income decreased by 57.6% from RMB11.6 million in 2023 to RMB4.9 million in 2024.
Our other net income decreased by 51.0% from RMB39.8 million in 2023 to RMB19.5 million in 2024, primarily due to (1) compensation arising from early termination of a parking facility contract operation agreement of RMB14.2 million in 2023, and (2) a decrease in government grants.
Financial Information · 第 239 页
Our other net income remained relatively stable at RMB19.5 million and RMB21.2 million in 2024 and 2025, respectively.
This decrease was primarily driven by a net foreign exchange loss of RMB251.2 million in 2025, compared to a net foreign exchange gain of RMB204.1 million in 2024, primarily due to fluctuations in the exchange rate between the U.S. dollar and Renminbi.
Financial Information · 第 240 页
This was primarily driven by (i) an increase in net exchange gains from RMB94.3 million in 2023 to RMB204.1 million in 2024, principally due to favorable exchange rate fluctuations, (ii) a decrease in loss on derivative financial instruments at FVTPL from RMB277.1 million in 2023 to RMB167.8 million in 2024, resulting from less unfavorable movements in the fair value of our foreign exchange derivative contracts, and (iii) an increase in bank interest income from RMB51.9 million in 2023 to RMB67.4 million in 2024.
Our other income and gains increased by 78.5% from RMB108.3 million in 2024 to RMB193.4 million in 2025, primarily attributable to (i) an increase in government grants from RMB37.8 million in 2024 to RMB101.1 million in 2025, and (ii) an increase in fair value gains on equity investments at fair value through profit or loss of RMB23.3 million.
Financial Information · 第 189 页
We recorded other income and gains of RMB121.0 million, RMB108.3 million and RMB193.4 million for the years ended December 31, 2023, 2024 and 2025, respectively.
Loss on foreign currency – net was US$2.0 million in 2025, due primarily to the net proceeds from our initial public offering of Shares in September 2025 being denominated in Rupiah, while our reporting currency is U.S. dollars.
Financial Information · 第 244 页
Changes in fair value of equity interest represent the remeasurement fair value gain of PEG’s 49% ownership interest in PETS (a joint venture) of US$4.9 million.
Financial Information · 第 244 页
Excess value in acquisition of a subsidiary represents the and excess value gain of US$0.8 million in connection with the Company’s direct and indirect acquisition of the remaining 51% interest in PETS on 27 June 2024.
We achieved other gains, net of RMB120.2 million and RMB81.6 million in 2023 and 2025, respectively, primarily due to exchange gains arising from changes in exchange rates between RMB and major foreign currencies.
Financial Information · 第 200 页
In 2023, we recorded other gains, net of RMB120.2 million, compared to other losses, net of RMB14.8 million in 2024, primarily due to (i) a swing of RMB134.3 million in exchange gains/(losses), net, from exchange gains of RMB125.9 million in 2023 to exchange losses of RMB8.4 million in 2024 as a result of adverse exchange rate movements between RMB and major foreign currencies, and (ii) fair value losses on financial assets at FVTPL of RMB5.6 million in 2024 compared to nil in 2023.
Our other gains and losses, net increased by 1,503.7% from RMB2.7 million for 2024 to RMB43.3 million for 2025, primarily due to gain on non-substantial modification of redemption liabilities arising from an extension of the redemption date in relation to our Pre-IPO Investment, partially offset by (i) a decrease in gain on fair value changes from financial assets at FVTPL which was in turn primarily due to a decrease in interest rates applicable to our financial assets at FVTPL, and (ii) a decrease in gains of early termination of a lease.
Our other net losses increased by approximately RMB5.3 million, from a loss of RMB1.5 million for FY2024 to a loss of RMB6.9 million for FY2025, primarily attributable to a loss of approximately RMB5.4 million arising from the demolition of part of ‘‘Sunyang Restaurant (孫羊正店)’’ in March 2025 to facilitate the construction of the Along the River During the Qingming Festival: Song-themed Banquet (《清明上河‧宋宴》).
Our other income increased by 235.7% from RMB17.0 million in 2024 to RMB57.0 million in 2025, primarily due to the receipt of government grants related to R&D projects completed in 2023, which were applied for in 2024 and disbursed in 2025, which was partially offset by the lower bank interest income as a result of decreased deposit interest rates and a decrease in our average cash balances during the year.
Financial Information · 第 219 页
(i) the recognition of government grants of RMB20.2 million in the three months ended March 31, 2025 relating to several indications which were completed and applied for in 2024 and approved in March 2025; and (ii) the relatively lower amount of government grants recognized in the first quarter of 2026 of RMB2.7 million.
Our other net income amounted to RMB33.5 million, RMB9.8 million and RMB20.6 million in 2023, 2024 and 2025, respectively.
Financial Information · 第 165 页
(iv) remeasurement gain on acquisition of a subsidiary, mainly representing the remeasurement to fair value of our Group’s existing 30% equity interests in Chengdu Guangchang, resulting in a gain;
Financial Information · 第 165 页
Our other net income decreased from RMB33.5 million in 2023 to RMB9.8 million in 2024, primarily due to the decrease in remeasurement gain on acquisition of a subsidiary, mainly because the remeasured gains in relation to remeasurement of fair value of our existing 30% equity interests in Chengdu Guangchang prior to its consolidation into us since April 2023 was recorded in 2023.
This increase was primarily due to continued growth in our business volume and the absence of the significant provision for a litigation claim that was recorded in 2023.
Summary · 第 11 页
Our other gains and losses changed from a net gain of RMB0.7 million in 2024 to a net loss of RMB11.7 million in 2025, primarily due to the change in provision for claims from a reversal of RMB0.9 million in 2024 to a provision of RMB7.8 million in 2025, mainly attributable to a significant increase in provisions for claims in 2025, and to a lesser extent, the absence in 2025 of a one-off gain on disposal of certain right-of-use assets recognized in 2024.