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 Living (2098.HK) officially released its 2025 performance report. The report shows that for the full year, the company achieved operating revenue of RMB 155.03B, down slightly by 4.51% year over year; net profit was RMB 102M, up 8.86% year over year. Faced with the dual challenges of rising external uncertainty and intensified in-industry competition, the company has taken a series of measures, including proactively adjusting its business structure and accelerating digital transformation, to further reduce operating and selling expenses, effectively strengthen its business fundamentals, and demonstrate strong operating resilience.

**　　Continuously deepening the core business, Zhongnong Net and CIC become the “stabilizers” of performance**

In 2025, the bulk commodities market faced dual challenges of market volatility and weak demand. Zall Smart Living proactively scaled back high-risk businesses and actively expanded overseas markets, with the performance of its agri-products and international trade segments growing. Among them, Zhongnong Net achieved revenue of approximately RMB 43.9 billion, up 8.40% year over year; CIC (World Commodity Intelligence Trading Center) and the company’s other Singapore subsidiaries together achieved revenue of approximately RMB 54.1 billion, up 33.07% year over year, becoming the “stabilizer” supporting performance growth.

During the reporting period, the agri-products market overall showed a trend of “strong supply but weak demand.” Under an environment where the industry was under pressure across the board, Zhongnong Net actively enhanced its business smart and digitized capabilities, extending the breadth and depth of its services, and achieved new breakthroughs in core areas such as white sugar, spices, and silk and textile. During this period, the platform supported the official commissioning of the Aksu spice deep-processing center in Xinjiang, helping the spice business achieve double growth in scale and performance; the “cloud factory” model has cumulatively rolled out four 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 “cultivation, planting, management, harvesting, transportation, and sales” process, which has already been applied on more than 7,000 mu of land. As emerging businesses, the coffee and rubber segments achieved major revenue growth by establishing direct procurement from sources, expanding relationships with large customers, and conducting online trading, among other approaches.

As the second growth curve the company has built in recent years, CIC delivered another growth performance during the reporting period. In 2025, the platform further deepened cross-border cooperation with Japan’s Marubeni Corporation, a Fortune 500 company, to help ZHONGLU FINANCE Services begin full-scale commercialization rollout, providing financial support for the steady development of global supply chain business. Its core data and 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, accelerating the building of a smart and digitized supply chain**

With the dual impact of sustained weakening demand for real estate development and infrastructure construction, and a structural oversupply of chemical and plastic production capacity, the performance of Zall Smart Living’s Zall Steel Chain and Huashu Huayeshu and Industry has clearly come under downward pressure in 2025. Against this backdrop, optimizing the business structure, shifting toward high-end manufacturing, and accelerating the construction of a smart and digitized 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 actively tailors supply chain integration solutions for large terminal enterprises. Through integrating supply chain systems such as SaaS, ERP, and MES, it has built a multi-dimensional smart service system, and its customers now cover industry-leading enterprises such as China Energy Engineering Group and Shaanxi Construction Engineering Group. Huashu Huaye focuses on three major categories: olefins, aromatics, and polyester. It enriches supply chain services through models including centralized procurement and distribution, matchmaking services, and spot and futures transactions. Meanwhile, in places such as Shandong, Jiangxi, and Guizhou, it continues to extend its “recycled plastic cloud factory” layout and has built an end-to-end closed-loop plastic recycling system, with products exported to regions including North Korea and Vietnam.

Based on its online digitized supply chain practices, the company has also actively promoted the transformation of offline trading businesses into supply chain management centers, building a smart and digitized supply chain system covering fresh flowers, seafood, textile and apparel, automobiles, condiment products, and coffee. Among them, the Seafood Chain has innovated the “Quick Chain” model by achieving direct procurement from core producing areas, enabling overseas high-quality fresh goods to reach destinations with rapid speed. The Apparel Chain has closely linked with industrial clusters such as Tianmen and Xiantao, successfully guiding source-supply-chain enterprises to set up operations locally. Worth noting is that during the reporting period, the flower lake cargo station at Hankou North, jointly built by Hankoubei and SF Group, was officially put into operation, enabling the strategic linkage between two major national logistics hub projects—the Wuhan–Ezhou air hub type and the Hankoubei commercial service type—and further improving the operational efficiency of the supply chain.

This year, the “15th Five-Year Plan” clearly states the goal to “promote the extension of productive services toward specialization and high-end positions along the value chain.” Through deep integration of digital technology and vertical industries, Zall Smart Living has been moving along this path for many years and has achieved results in supply chain sectors such as agricultural products, ferrous metals, and chemical plastics. Looking ahead, as the deepening of the integration and development of productive services with advanced manufacturing and modern agriculture accelerates, the company’s layout in emerging fields such as cross-border trade, green supply chains, and smart and digitized services is expected to further unleash growth potential at an accelerated pace, contributing greater value to building a modern industrial system.

(Editor-in-charge: Wang Lei)

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