HKEX 02279 · Independent company profile

Yonghe Medical

Yonghe Medical Group Co., Ltd.

From one hair transplant to a full-cycle hair-care relationship.

Yonghe Medical provides hair-transplant services, medical hair care and related ancillary services.

Disclosure data through 2025-12-31 Page reviewed 2026-07-15 Listing Hong Kong Stock Exchange

Investor relations ir@zhifa.cn Official company source

Latest disclosure sources: Financial data · HKEX PDF page 7; Institution network · HKEX PDF page 12; Consumer volume · HKEX PDF page 15. PureIR is an independent publisher and not Yonghe Medical’s official website.

A FIELD OF CARE 00

Press, then brush slowly across the field

01 Hair assessment
02 Hair transplant
03 Medical hair care
04 Ongoing relationship

An editorial metaphor for the disclosed service model; it does not represent an individual medical outcome.

63transplant institutions

71,380hair-transplant consumers

79,492medical hair-care consumers

Continue into the 2025 disclosure

Disclosure highlights

2025 disclosure summary

Cover of Yonghe Medical 2025 annual report — 2025 annual report · published 16 April 2026 · 318 PDF pages

Company disclosure

RMB 1.808bn

Financial scale

66.0% gross margin · RMB 73.6m profit for the year · 4.1% net margin

Period: year ended 31 December 2025; Currency/unit: RMB million; HKEX PDF page 7

Company disclosure

71,380 people

Hair-transplant consumers

79,492 medical hair-care consumers; the report discloses consumers, not procedure count

Period: year ended 31 December 2025; Currency/unit: people; HKEX PDF page 15

Company disclosure

63 institutions

Hair-transplant institutions

221 doctors; 3,383 employees, including 1,341 professional medical-team members

Period: as at 31 December 2025; Currency/unit: institutions / people; HKEX PDF page 12; Doctors · PDF page 132; Employees · PDF page 34

Disclosure-led narrative

How to read the disclosure

Results, operating variables and calculated observations are shown together without crossing the disclosure boundary.

PureIR disclosure summary

Earnings returned to profit

Revenue was broadly flat in 2025, while gross margin rose from 60.1% to 66.0% and the annual result moved from loss to profit. This describes disclosed results and is not a forecast.

HKEX PDF page 7

PureIR disclosure summary

Higher hair-transplant volume at lower average spend

Hair-transplant consumers increased from 59,655 to 71,380, while average spending fell from RMB 22,306 to RMB 19,265; segment revenue still rose 3.3% year on year.

HKEX PDF page 15

PureIR calculated observation

A smaller network alongside improved gross margin

Hair-transplant institutions declined from 75 at 2023 year-end to 63 at 2025 year-end, while group gross margin rose from 56.1% to 66.0%. Presenting the two together is a PureIR structured observation, not a causal claim.

HKEX PDF page 7；Additional source PDF page 9

Business model

Where revenue comes from

Medical service delivery is the core. Hair transplant contributes most revenue, while medical hair care supports an ongoing service relationship.

01Hair transplant 02Medical hair care 03Ongoing relationship

Hair transplant

RMB 1,375.1m

76.0%

Medical hair care

RMB 409.2m

22.6%

Other

RMB 24.0m

1.3%

Period: year ended 31 December 2025; currency: RMB; units: million and share. Amounts are company disclosures; shares are recalculated from disclosed amounts. HKEX 2025 annual report, PDF page 14

Five-year financials

Financial performance and profitability

All years are in RMB. Charts show amounts in millions; the public JSON retains RMB thousands.

Annual series

Revenue and gross profit

Period: years ended 31 December; unit：RMB million；type: company disclosure. HKEX annual report, PDF page 7

Annual series

Gross and net margin

Period: years ended 31 December; unit：percent；type: company disclosure. HKEX annual report, PDF page 7

Five-year financial summary · years ended / dates as at 31 December · currency RMB
Metric	2021	2022	2023	2024	2025
Revenue (RMB m)	2,168.6	1,412.8	1,777.3	1,804.5	1,808.3
Gross profit (RMB m)	1,580.0	872.6	997.2	1,084.2	1,194.2
Profit/(loss) for the year (RMB m)	120.2	-85.9	-546.7	-226.6	73.6
Gross margin	72.9%	61.8%	56.1%	60.1%	66.0%
Cash and cash equivalents (RMB m)	1,566.2	565.1	603.2	487.8	699.0

Type: company disclosure; the source applies to every number in the table. HKEX 2025 annual report, PDF page 7. The annual report states that the five-year summary does not form part of the audited consolidated financial statements.

Operating metrics

Institutions, doctors and patients

The 2025 disclosure uses “consumers” instead of “patients”, while the doctor measure changes from registered doctors to professional-team doctors. Cross-year comparisons require care.

Annual series

Patients or consumers served

Period: years ended 31 December; unit：people；type: company disclosure. HKEX annual report, PDF page 15

Annual operating indicators · years ended / dates as at 31 December
Year	Hair-transplant people	Hair-care people	Average transplant spend	Doctors	Transplant institutions	Source
2021	58,464 people	105,275 people	RMB 26,643 / person	259 people	54 institutions	Patients p.15/16 Doctors p.10 Institutions p.8
2022	39,254 people	63,257 people	RMB 26,251 / person	294 people	63 institutions	Patients p.17/18 Doctors p.10 Institutions p.14
2023	61,071 people	78,687 people	RMB 22,174 / person	350 people	75 institutions	Patients p.18/19 Doctors p.24 Institutions p.9
2024	59,655 people	77,222 people	RMB 22,306 / person	242 people	66 institutions	Patients p.14/15 Doctors p.9 Institutions p.11
2025	71,380 people	79,492 people	RMB 19,265 / person	221 people	63 institutions	Patients p.15/16 Doctors p.132 Institutions p.12

Type: company disclosure. Currency applies only to average spending, in RMB/person; people and institution counts use people and institutions. The 2021 average transplant spend excludes Hong Kong Nu/Hart revenue and uses Mainland China patient volume.

Leadership profile

Company disclosure summary

Senior management

The 2025 annual report lists five members of senior management. Select a name to read the corresponding disclosed responsibilities and experience.

01 / 05

Zhang Yu

Founder, Executive Director, Chairman and Chief Executive Officer

Zhang Yu founded the Group in July 2010 and has served as chief executive officer since then. He is responsible for overall strategy, business direction and day-to-day operations. He has more than 20 years of experience in hair-related healthcare, entered the hair-transplant industry in March 2005 and established the Yonghe brand in 2010.

Position and biography as disclosed in the 2025 annual report. HKEX 2025 annual report, PDF page 35

No official portraits for these executives were published in the reviewed annual report or governance page. Portrait spaces are intentionally left blank.

Official market reference

Market reference

Official HKEX link

PureIR does not currently display or provide market-price data for download. View the latest quote for 02279 on HKEX’s official securities quote page.

View 02279 quote on HKEX

This link leaves PureIR. Market data and applicable terms are provided and managed by HKEX.

Principal risks

Formally disclosed risks

Company disclosure summary

Historical growth may not indicate future performance

The company discloses that historical business growth, revenue and profitability may not reflect future performance, and that its ability to execute business strategies will affect its success.

HKEX 2025 annual report, PDF page 41

Company disclosure summary

Brand and consumer perception

The company discloses that damage to its brand, market reputation or consumer perception could materially and adversely affect operating results and prospects.

HKEX 2025 annual report, PDF page 41

Formal sources

Formal sources and public data

Company facts use HKEX annual reports and formal disclosures. These five PDFs are the primary basis for the financial and operating data on this page.

2025 Annual Report 2026-04-16 · 318 PDF pages 2024 Annual Report 2025-04-29 · 306 PDF pages 2023 Annual Report 2024-04-29 · 302 PDF pages 2022 Annual Report 2023-04-25 · 274 PDF pages 2021 Annual Report 2022-04-27 · 250 PDF pages

Structured fact data：Financial and operating indicators, source pages and disclosure-led summaries used on this page — not the full text or sentence-level extraction of five annual reports. The download supports checking, field reuse and machine reading; source and data-type labels should be retained.

Download structured JSON →

PureIR is an independent, unofficial information platform and does not represent Yonghe Medical. This page is not investment advice and provides no rating, target price or undisclosed forecast.