Keen Dental Hospital: 2025 Revenue of 350 Million Yuan, Down 16.59% Year-on-Year, Net Profit Up 16.40% Year-on-Year

Image source: Keen Dental 2025 Annual Report

2025 Revenue Decreased by 16.59% Year-on-Year / Net Profit Attributable to Shareholders of the Parent Company Increased by 25.41% Year-on-Year / Company's Overall Net Profit Increased by 16.40% Year-on-Year

DentalGoodNews｜April 22, 2026, Dezhou Keen Dental Hospital Co., Ltd. (hereinafter referred to as "Keen") released its 2025 annual report. The report shows that Keen achieved operating revenue of 350 million yuan in 2025, a decrease of 16.59% compared to 420 million yuan in the same period last year; net profit attributable to shareholders of the listed company was 6.6555 million yuan, an increase of 25.41% compared to 5.3069 million yuan in the same period last year; the company's overall net profit was 7.6889 million yuan, a year-on-year increase of 16.40%.

Image source: Keen Dental 2025 Annual Report

In response to Keen's performance in the first half of 2025, where revenue decreased by 18.37% year-on-year and net profit attributable to shareholders of the parent company decreased by 99.39% year-on-year, the company achieved a recovery in its performance in the second half of the year. In 2025, the company's sales expenses and administrative expenses decreased by 28.69% and 19.21% year-on-year, respectively. The comprehensive gross profit margin for the same period was 42.16%, a year-on-year decrease of 2.99 percentage points. The company stated that this was mainly due to adjustments made to the gross profit margins of implant and restoration projects and providing benefits to patients in order to increase market share.

Image source: Keen Dental 2025 Annual Report

By product category, in 2025, revenue from extraoral implant projects was 122 million yuan, a year-on-year decrease of 25.86%, with a gross profit margin of 51.45%; revenue from restoration projects was 79 million yuan, a year-on-year decrease of 13.11%, with a gross profit margin of 41.77%; revenue from pediatric dentistry and orthodontics projects was 47 million yuan, a year-on-year decrease of 18.33%, with a gross profit margin of 33.89%; revenue from intraoral periodontal projects was 42 million yuan, a year-on-year decrease of 0.06%, with a gross profit margin of 39.72%.

Image source: Keen Dental 2025 Annual Report

In terms of financial structure, as of the end of 2025, the company's total assets were 680 million yuan, and the total asset growth rate decreased from 14.66% in the same period last year to 1.78%; the asset-liability ratio (on a parent company basis) decreased from 51.93% to 44.40%. Affected by VBP and price adjustments, the net cash flow from operating activities was 78 million yuan, a year-on-year decrease of 16.85%.

According to a previous report by DGN, Keen's wholly-owned subsidiary, Jinan Keen Hospital Co., Ltd., plans to acquire an 80% equity stake in Qingdao Chenxing Medical Management Co., Ltd. for 51.2 million yuan. Through this transaction, the company will indirectly obtain an 80% equity stake in Dongshan Keen. As of the end of 2025, Keen had a total of 14 medical institutions, with a total operating area exceeding 28,000 square meters and 310 dental chairs.

Image source: Keen Dental 2025 Annual Report

As of the end of 2025, the company's actual controller, Wan Shaohua, held a 45.06% stake. The company stated that it will continue to deepen cost control and improve profitability in 2026.