On March 31, Cross-border Communications announced its annual report for 2025. The report shows that in 2025, the company's operating income was 5.44 billion yuan, a year-on-year decrease of 4.9%; the net profit attributable to the parent company decreased from a loss of 479 million yuan in the same period last year to a loss of 417 million yuan; the net profit attributable to the parent company after deducting non-recurring gains and losses decreased from a loss of 391 million yuan in the same period last year to a loss of 290 million yuan; the net operating cash flow was 404 million yuan, a year-on-year increase of 423.7%; EPS (fully diluted) was -0.2679 yuan.

In the fourth quarter of 2025, the company's operating income was 1.42 billion yuan, a year-on-year decrease of 6.7%; the net profit attributable to the parent company decreased from a loss of 461 million yuan in the same period last year to a loss of 401 million yuan, reducing the loss; the net profit attributable to the parent company after deducting non-recurring gains and losses decreased from a loss of 358 million yuan in the same period last year to a loss of 272 million yuan, reducing the loss; EPS was -0.2571 yuan. By the end of the fourth quarter, the company's total assets were 2.807 billion yuan, a decrease of 9.7% from the end of the previous year; the net assets attributable to the parent company were 454 million yuan, a decrease of 46.7% from the end of the previous year.

The announcement pointed out that in 2025, the company's operating business underwent significant changes, mainly reflected in the transformation of the main business from pants sales to cross-border e-commerce business. During the reporting period, the company's cross-border e-commerce import business achieved an operating income of 5.03 billion yuan, accounting for 92.51% of the total operating income, and this part of the business income came from Youyi E-commerce; while the cross-border export business achieved an operating income of 378 million yuan, accounting for 6.96% of the total operating income, and this part of the income mainly came from Yunxi, Yunjin, Zhijihui Chuang, and Sateng. Among them, the operating income of the self-operated website decreased significantly by 60.99% due to the contraction of promotional efforts.

By the end of 2025, the company had established 9 domestic warehouses with a storage area of 29,100 square meters. The company operates two own brands, including "Baiyuan Pants" and "ZAFUL", where "Baiyuan Pants" is a domestic clothing brand and "ZAFUL" is a cross-border export clothing brand. During the reporting period, the company's own brand operating income was 397 million yuan, accounting for 7.31% of the overall operating income.

During the reporting period, the company optimized its overall business structure, effectively controlled losses, and stopped the operation of "Baiyuan Pants" physical store business. Overall, the company's layout and development strategy adjustments in the field of cross-border e-commerce have laid the foundation for future business growth.

Source: E-commerce Dispatch