AMCO United reported a sharp turnaround for the year ended 31 December 2025, posting profit attributable to shareholders of HK$59.12 million versus a HK$1.23 million loss in 2024. Revenue surged 81.0% to HK$68.36 million, driven primarily by robust growth in the Medical Products segment.
Revenue rose HK$30.56 million year-on-year, with Medical Products contributing HK$57.69 million—up 125.4%—after the Group broadened its portfolio to include surgical instruments, orthopedic tools and diagnostic devices. Loan interest income from the Money Lending division eased 5.0% to HK$10.59 million, while Plastic Products sales fell to HK$0.07 million as legacy orders tapered off.
Gross profit inched up 2.2% to HK$14.18 million; however, gross margin narrowed to 20.7% (2024: 36.9%) due to a higher contribution from lower-margin medical device sales. A HK$50.17 million swing in other income—mainly from realised and unrealised gains on held-for-trading investments—boosted operating results. Net reversal of expected-credit-loss provisions totalled HK$10.62 million, compared with a HK$1.30 million reversal a year earlier, further supporting earnings.
Segment results underscored mixed performances: • Medical Products: profit HK$5.28 million (2024: HK$4.23 million) on revenue HK$57.69 million. • Plastic Products: loss HK$1.89 million following a 90% revenue decline as customers’ product life cycles matured. • Money Lending: profit rose to HK$13.61 million (2024: HK$7.25 million) aided by impairment reversals, despite softer interest income. • Securities Investment: profit HK$50.14 million (2024: HK$1.80 million loss) on mark-to-market gains, lifting group profitability.
At 31 December 2025, total assets reached HK$227.89 million (2024: HK$159.33 million) and equity doubled to HK$119.24 million. Net current assets improved to HK$140.14 million, while cash and cash equivalents stood at HK$7.21 million.
Bond payables declined to HK$24.90 million from HK$30.90 million, lowering the gearing ratio to 14.8% (2024: 43.8%). The current ratio strengthened to 2.6 times (2024: 2.3), and the group remained free of bank borrowings.
Earnings per share rebounded to 6.11 Hong Kong cents from a 0.13-cent loss in 2024. The Board did not recommend a final dividend.
Management highlighted sustained demand for medical devices in mainland China and plans to leverage the newly obtained Shandong manufacturing permit to expand product offerings and hospital client coverage. Cost control, liquidity management and diversification of the securities portfolio remain strategic priorities amid ongoing market volatility.