轻松健康2025年度报告

QINGSONG HEALTH CORPORATION2025ANNUAL REPORT CONTENTS目 錄 Corporate Information2Chairman’s Letter5Results Highlights9Management Discussion and Analysis12Directors and Senior Management38Report of the Directors45Corporate Governance Report83Environmental, Social and Governance Report108Definitions194Independent Auditor’s Report196Consolidated Statement of Profit or Loss andOther Comprehensive Income204Consolidated Statement of Financial Position207Consolidated Statement of Changes in Equity/(Deficit)209Consolidated Statement of Cash Flows210Notes to the Consolidated Financial Statements213 CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors 2026417 Ms. YANG Yin(Chairlady)Ms. WANG Jing (resigned on April 17, 2026) Non-executive Directors Mr. ZHAO YupingMr. ZHENG KaihuanMr. WU Bin Independent Non-executive Directors 20264172026417 Dr. WANG XiaoyanMr. CHOW Yiu MingMs. JI Wenting (appointed on April 17, 2026)Mr. BAI Kun (resigned on April 17, 2026) AUDIT COMMITTEE 20264172026417 Ms. JI Wenting(Chairlady) (appointed on April 17, 2026)Mr. BAI Kun(Chairman) (resigned on April 17, 2026)Dr. WANG XiaoyanMr. CHOW Yiu Ming REMUNERATION COMMITTEE 20264172026417 Dr. WANG Xiaoyan(Chairlady)Ms. YANG YinMs. JI Wenting (appointed on April 17, 2026)Mr. BAI Kun (resigned on April 17, 2026) NOMINATION COMMITTEE Ms. YANG Yin(Chairlady)Mr. CHOW Yiu MingDr. WANG Xiaoyan JOINT COMPANY SECRETARIES Mr. YANG LeiMs. CHAN Ching Nga (appointed on March 23, 2026)Mr. CHOW Shing Lung (resigned on March 23, 2026) 20263232026323 HONG KONG SHARE REGISTRAR Computershare Hong Kong Investor Services Limited 183171712–1716 Shops 1712–1716, 17th Floor Hopewell Centre183 Queen’s Road East, Wan Chai Hong Kong AUTHORIZED REPRESENTATIVES 20264172026417 Mr. YANG LeiMs. YANG Yin (appointed on April 17, 2026)Ms. WANG Jing (resigned on April 17, 2026) AUDITOR Deloitte Touche TohmatsuCertified Public Accountants andRegistered Public Interest Entity 8835 Auditor 35/F, One Pacific Place 88 Queensway Hong Kong REGISTERED OFFICE P.O. Box 31119Grand Pavilion, Hibiscus Way802 West Bay RoadGrand Cayman, KY1-1205Cayman Islands P.O. Box 31119Grand Pavilion, Hibiscus Way802 West Bay RoadGrand Cayman, KY1-1205Cayman Islands HEADQUARTERS 28F7 7/F, Building F, Yonghe MansionNo. 28 Andingmen East StreetDongcheng DistrictBeijing, PRC PRINCIPAL PLACE OF BUSINESS IN HONGKONG 46/F, Hopewell Centre183 Queen’s Road EastWan Chai, Hong Kong 18346 PRINCIPAL BANKS China Construction Bank Beijing Xinhua Sub-branchChina Merchants Bank Limited Hengqin Guangdong-Macao DeepCooperation Zone Sub-branch CORPORATE INFORMATION HONG KONG LEGAL ADVISER 97914 Baker & McKenzie14/F, One Taikoo Place979 King’s RoadQuarry BayHong Kong COMPLIANCE ADVISER 12813B Innovax Capital LimitedRoom B, 13/F, Neich Tower128 Gloucester RoadWan ChaiHong Kong http://www.qingsonghealth.com/ COMPANY’S WEBSITEhttp://www.qingsonghealth.com/ 輕鬆健康 STOCK SHORT NAMEQINGSONG HEALTH 02661 STOCK CODE02661 CHAIRMAN’S LETTER To Our Shareholders: 輕鬆健康202512312025 On behalf of the Board of Directors (the “Board”) of QingSongHealth Corporation (the “Company”, together with itssubsidiaries, the “Group”), I am pleased to present the annualreport of the Company for the year ended December 31, 2025 (the“Year of 2025”). 2025 The year 2025 marked a milestone in the development of theGroup, In the year we were listed on the Hong Kong capitalmarket, the Group navigated a dynamic external environment,continued regulatory enhancement across the industry, and anaccelerating transition of the healthcare sector toward intelligentand digitalized solutions. Guided by technology-driven innovation,user-centric service upgrades, and a long-term approach toecosystem development, the Group continued to strengthen thecore capabilities of its digital healthcare service platform, achievingsteady growth in operating performance, further optimization ofits revenue structure, and deeper strategic transformation. 20251,255.932.9%435.120.3%92.09.0%73.7% During the Year of 2025, the Group recorded revenue ofRMB1,255.9 million, representing a year-on-year increase of32.9%. Gross profit amounted to RMB435.1 million, up 20.3%year-on-year, while adjusted net profit reached RMB92.0 million,representing a year-on-year increase of 9.0%. Revenue fromdigital integrated healthcare services accounted for 73.7% oftotal revenue, becoming the primary growth driver of the Group.These results demonstrate the Group’s steady transition from atraffic-driven platform to a healthcare service platform anchoredin service capability, technological strength, and ecosystemcollaboration. 202512311.696,380 As of December 31, 2025, the Group’s cumulative registeredusers reached 169 million, with 63.8 million followers acrossthe WeChat ecosystem. Our user base and platform influencecontinued to expand steadily. We remain firmly committed toa “user-centric” service philosophy and have systematicallyoptimized produ