Zall Smart-Living releases 2025 annual report: net profit increased by 8.86% year-on-year, with core business demonstrating operational resilience

On the evening of March 31, Zall Smart Connected (2098.HK) officially released its 2025 performance report. The report shows that the company achieved full-year operating revenue of 155.029 billion yuan, down slightly by 4.51% year over year; net profit was 102 million yuan, up 8.86% year over year. Faced with the dual challenges of rising external uncertainty and intensifying in-industry competition, the company has taken a series of initiatives—including proactively adjusting its business structure and accelerating digital transformation—driving further declines in administrative and selling expenses, effectively strengthening its core business fundamentals and demonstrating strong operational resilience.

**　　Continuously deepen core businesses; ChinaAgriNet and CIC become “stabilizers” for performance**

In 2025, the bulk commodities market faced the dual challenges of volatile differentiation and weak demand. Zall Smart Connected proactively scaled back high-risk businesses and actively expanded overseas markets; its agricultural products and international trade segments saw performance growth. Among them, ChinaAgriNet recorded revenue of approximately 43.9 billion yuan, up 8.40% year over year. CIC (World Commodities Intelligent Trading Center) and the company’s other Singapore subsidiaries combined for total revenue of approximately 54.1 billion yuan, up 33.07% year over year, becoming the “stabilizer” supporting performance growth.

During the reporting period, the agricultural products market as a whole showed a trend of “strong supply and weak demand.” In an environment where the industry was under general pressure, ChinaAgriNet actively improved its business digital and intelligent level, extending the breadth and depth of its services, and achieved new breakthroughs in core areas such as white sugar, spices, and silk and textile spinning. During this period, the platform enabled the Xinjiang Aksu Spice Intensive Processing Center to officially commence operations, helping both the scale and performance of the spice business grow in tandem; the “cloud factory” model had cumulatively rolled out 4 shared silk-reeling factories, effectively promoting improvements in capacity and efficiency; and, based on AI and blockchain technologies, it launched a digital sugarcane planting platform covering the entire workflow of “till, sow, manage, harvest, transport, and sell,” which has already been applied on more than 7,000 mu of land. The coffee and rubber segments, as the platform’s emerging businesses, achieved significant revenue growth by establishing source-direct procurement, expanding major-customer outreach, and enabling online trading.

As a second growth curve built by the company in recent years, CIC delivered another growth “answer sheet” during the reporting period. In 2025, the platform further deepened its cross-border cooperation with Japanese trading house Marubeni Corporation, a Fortune 500 company, helping Zall Red Finance to move into full commercial deployment, providing financial support for the steady development of global supply chain business. Its core data technology product TradeData.Pro also saw functional upgrades and marketing optimization, continuing to provide scientific decision-making references for global traders. Currently, CIC’s cumulative number of registered members has grown to 17,229.

**　　Deeply adjust the structure to drive transformation; accelerate the building of a digital intelligent supply chain**

Affected by the dual pressures of ongoing weakness in real estate and infrastructure demand and structural overcapacity in chemical plastic production, in 2025 the performance of Zall Steel Chain and Chemical Plastics Hub under Zall Smart Connected faced significant downward pressure. Against this backdrop, optimizing the business structure, shifting toward high-end manufacturing, and accelerating the construction of a digital intelligent supply chain have become the platform’s core consensus.

Focusing on areas such as high-end manufacturing, intelligent manufacturing, and green manufacturing, Zall Steel Chain proactively develops supply-chain integration solutions tailored to large terminal enterprises. By integrating supply-chain systems such as SaaS, ERP, and MES, it has built a multidimensional intelligent service system, with clients including industry-leading enterprises such as China Energy Engineering Group Co., Ltd. and Shaanxi Construction Engineering Group. Chemical Plastics Hub focuses on three major categories: olefins, aromatics, and polyester. Through models such as centralized procurement and distribution, matchmaking services, and spot and futures trading, it enriches supply-chain services. Meanwhile, it has extended and laid out “recycled plastics cloud factories” in places including Shandong, Jiangxi, and Guizhou, establishing an end-to-end plastic closed-loop recycling system, with products exported to regions including North Korea and Vietnam.

Based on its experience with online digital supply chains, the company has also actively promoted the transformation of offline commercial trading entities into supply-chain management centers, building a digital intelligent supply-chain system covering fresh flowers, seafood, textiles and apparel, automobiles, condiments, and coffee. Among them, the seafood chain innovated the “Fast Chain” model, achieving rapid direct delivery of overseas high-quality fresh produce through direct procurement from core producing regions. The apparel chain has deeply linked with industrial clusters such as Tianmen and Xiantao, successfully guiding supply-chain enterprises from the source side to settle there. It is worth noting that during the reporting period, the Hankou North Flower Lake Cargo Station, jointly built by Hubei Hankou North and SF Group, officially commenced operations. This enables strategic linkage between the two major national logistics hub initiatives—namely the Wuhan–Ezhou air cargo hub type and the Hankou North commerce service type—further improving the efficiency of supply-chain operations.

This year, the “15th Five-Year Plan to 25th Five-Year Plan” framework clearly states the goal of “promoting the extension of production service industries toward specialization and the high end of value chains.” Through the deep integration of digital technology and vertical industries, Zall Smart Connected has been moving along this path for many years and has seen fruitful outcomes in supply-chain areas such as agricultural products, ferrous metals, and chemical plastics. Looking ahead, as the integration of production service industries with advanced manufacturing and modern agriculture is further promoted, the company’s plans in emerging areas such as cross-border trade, green supply chains, and digital intelligent services are expected to accelerate the release of growth potential, contributing greater value to building a modern industrial system.

(Editor: Wang Lei)

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