China Boton Group Posts 2025 Revenue of RMB 1.496 Billion, With E-Cigarette Product Revenue Up 4.6%
China Boton Group reported a 9.5% revenue decrease to RMB 1.496 billion in 2025, with a net loss of RMB 1.000 billion, despite a 4.6% increase in e-cigarette revenue.Summary
China Boton Group announced its 2025 financial results, reporting revenue of RMB 1.496 billion, a decrease of approximately 9.5% compared to RMB 1.653 billion in 2024. The group experienced a net loss of RMB 1.000 billion for the year, contrasting with a net profit of RMB 63.282 million in the previous year. Gross profit also declined to RMB 377.1 million, with a gross margin of 25.2%, down from 36.2% in 2024. Despite the overall decline, e-cigarette product revenue increased by 4.6% year-on-year, reaching RMB 668.8 million, becoming the largest revenue source for the group. Tobacco flavor revenue, however, decreased significantly by 36.2%. A goodwill impairment expense of RMB 845.4 million was recorded in 2025, primarily within the tobacco flavor segment.
(Source：2Firsts)
