Core Viewpoint - The company, Times Wan Heng (600241.SH), has not yet established a financial shared service center and will comply with information disclosure regulations in a timely manner [1] Group 1 - The company has received inquiries from investors regarding the establishment of a financial shared service center [1] - The company has not implemented any financial shared service centers as of now [1] - The company will adhere to information disclosure rules and fulfill its obligations accordingly [1]

Core Viewpoint - The company anticipates a significant decline in financial performance for the year 2025, projecting a net loss attributed to the parent company of between 1.40 billion and 1.20 billion yuan, alongside a decrease in revenue compared to the previous year [2][3]. Financial Performance Forecast - The company estimates that for the fiscal year 2025, it will achieve approximately 383 million yuan in revenue [2][3]. - The projected net loss for the year 2025 is between 1.40 billion and 1.20 billion yuan [2][3]. - The net profit attributable to the parent company, after excluding non-recurring gains and losses, is expected to be between 1.43 billion and 1.23 billion yuan [4]. Previous Year Comparison - In the previous year, the company reported revenue of 401 million yuan [5]. - The net profit attributable to the parent company was 19.38 million yuan, with a net profit of 18.40 million yuan after excluding non-recurring gains and losses [5]. Reasons for Expected Loss - The primary reason for the anticipated loss is a decrease in revenue from the core business of new energy batteries, coupled with a decline in gross margin, leading to a downturn in operational performance [7]. - The company is also facing potential impairment of long-term assets due to the performance forecasts of two subsidiaries in the new energy battery sector [7]. - The company’s associate, Liaoning Shidai Dasha Co., Ltd., is expected to incur losses, which will be recognized as investment losses under the equity method [8]. - There are concerns regarding receivables from the subsidiary Liaoning Jiuyi Lithium Energy Co., Ltd., which has a long-term negative net asset value, indicating a substantial risk of loss on these receivables [8].

Core Viewpoint - The company, Times Wan Heng, is expected to report a significant loss for the fiscal year 2025, with projected revenues of approximately 383 million yuan and a net loss attributable to shareholders ranging from 120 million to 140 million yuan, indicating a decline from the previous year's profit of 19.38 million yuan [1] Group 1: Financial Performance - The anticipated net profit after excluding non-recurring gains and losses is projected to be between -143 million and -123 million yuan for 2025, compared to a profit of 18.4 million yuan in the same period last year [1] - The decline in revenue and profitability is attributed to reduced sales in the core business of new energy batteries and a decrease in gross margin, alongside indications of long-term asset impairment [1] Group 2: Business Operations - The company focuses on the research, production, and sales of new energy batteries, specifically lithium-ion and nickel-hydride batteries [1] - The nickel-hydride battery segment is primarily used in personal care, consumer goods, and power tools, maintaining stable demand despite a slow decline in some traditional application areas [3] - The company plans to enhance its competitiveness in the nickel-hydride battery market through product technology upgrades and cost reduction measures, with no current plans to shrink or transform this segment [3] Group 3: Market Environment - The lithium battery business targets the high-rate small power battery niche, particularly in the mid-to-high-end electric tool market, which is experiencing rapid growth due to advancements in lithium battery technology [2] - The domestic nickel-hydride battery market has high capacity concentration with few quality enterprises, allowing the company to maintain a certain market position amid competition [3] - The electric tool market is gradually recovering, presenting new development opportunities, although competition is intensifying [2]

Core Viewpoint - The company expects to report a significant loss in 2025, with projected revenue of approximately 383 million and a net profit attributable to the parent company ranging from -140 million to -120 million, indicating a decline compared to the previous year [1] Financial Performance - The decline in performance is primarily attributed to a decrease in revenue from the core business of new energy batteries and a drop in gross margin, leading to a downturn in operational results [1] - The company anticipates recognizing impairment losses on long-term assets due to the performance forecasts of its two subsidiaries in the new energy battery sector [1] Investment Losses - The joint venture, Liaoning Times Building Co., Ltd., is expected to incur losses, which will be accounted for using the equity method, resulting in recognized investment losses [1] - The parent company has receivables from the underperforming subsidiary, Liaoning Jiuyi Lithium Energy Co., Ltd., which has consistently shown negative net assets, leading to a preliminary assessment that the receivables may have incurred substantial losses and may not be fully recoverable in the future [1]

Core Viewpoint - Times China Holdings (600241.SH) has announced a projected loss for the fiscal year 2025, indicating significant financial challenges ahead [1] Financial Performance - The company expects to achieve an operating revenue of approximately 383 million yuan for the year 2025 [1] - The net profit attributable to the parent company's shareholders is projected to be between -140 million yuan and -120 million yuan [1]

Core Viewpoint - Times China Holdings (600241.SH) has announced a projected loss for the fiscal year 2025, indicating significant financial challenges ahead [1] Financial Performance - The company expects to achieve an operating revenue of approximately 383 million yuan for the year 2025 [1] - The net profit attributable to the parent company is projected to be between -140 million yuan and -120 million yuan, indicating a substantial loss [1]

Core Viewpoint - The company, Times Wan Heng, announced an expected net loss of 120 to 140 million yuan for the year 2025, indicating a shift from profit to loss compared to the previous year [1] Group 1: Financial Performance - The decline in operating performance is attributed to a decrease in revenue from the core business of new energy batteries and a drop in gross margin [1] - The company anticipates recognizing impairment losses on long-term assets due to the performance forecast of its two subsidiaries in the new energy battery sector [1] Group 2: Asset Evaluation - The financial department, in collaboration with assessment agencies, conducted a preliminary evaluation of the asset status of the two subsidiaries [1] - The expected impairment provision for long-term assets is a direct result of the anticipated performance issues within the subsidiaries [1]

Financial Projections - The company expects to achieve an operating revenue of approximately 383 million yuan for the year 2025, with a net profit attributable to the parent company estimated to be between -140 million yuan and -120 million yuan[2]. - The projected net profit attributable to the parent company, after deducting non-recurring gains and losses, is expected to be between -143 million yuan and -123 million yuan for 2025[4]. - In the previous year, the company reported an operating revenue of 401 million yuan and a net profit attributable to the parent company of 19.38 million yuan[5]. Performance Decline - The decline in performance is primarily due to a decrease in revenue from the core business of new energy batteries and a drop in gross profit margin, leading to potential impairment of long-term assets[6]. - The company anticipates recognizing investment losses from its associate, Liaoning Times Building Co., Ltd., which is expected to incur losses[6]. - There are concerns regarding substantial losses related to receivables from its subsidiary, Liaoning Jiuyi Lithium Energy Co., Ltd., which has a long-term negative net asset value[6]. Asset Impairment Assessments - The impairment assessment of long-term assets for subsidiaries is still ongoing, and the final valuation will require confirmation from the annual audit accountant[7]. - The impairment assessment of investment properties in associated enterprises is also pending, and its impact on the company remains undetermined[9]. - The preliminary financial data provided is subject to change and will be finalized in the audited annual report for 2025[9].

Core Viewpoint - The company has completed the appointment of senior management personnel following the recent board restructuring, ensuring continuity in leadership roles and compliance with corporate governance regulations [1][2]. Group 1: Management Appointments - The company held its seventh meeting of the ninth board on January 8, 2026, where it approved the appointment of senior executives [1][2]. - Li Xingyu has been reappointed as Vice General Manager, and Hao Chunguang has been additionally appointed as Vice General Manager, both of whom have passed the qualifications review by the board's nomination committee [1]. - Hao Chunguang has also been reappointed as the Secretary of the Board, with his qualifications similarly approved [1]. - Jiang Daolin has been reappointed as the Chief Financial Officer, with his qualifications approved by both the board's nomination committee and the audit committee [1]. Group 2: Meeting Details - The meeting was conducted via communication methods, with a notification sent out on January 5, 2026, and all seven directors attended, meeting the requirements of the Company Law and the company's articles of association [2]. - The resolution regarding the appointment of senior management personnel was passed with a unanimous vote of 7 in favor, 0 against, and 0 abstentions [2]. Group 3: Executive Profiles - Li Xingyu, born in June 1970, is an economist with a bachelor's degree in National Economic Management from Liaoning University. He has held various managerial positions and has been the Vice General Manager of the company since August 2020 [4]. - Hao Chunguang, born in June 1978, is a human resources manager with a bachelor's degree in Business Administration from Northeast Financial University. He has held multiple roles within the company and has been the Secretary of the Board since March 2025 [4]. - Jiang Daolin, born in September 1981, graduated with a bachelor's degree in Accounting from Harbin Institute of Technology (Weihai). He has been with the company since October 2014 and has served as Chief Financial Officer since June 2019 [5].

Group 1 - The company, Times Wan Heng, announced the continuation of Li Xingyu as Vice General Manager and the appointment of Hao Chunguang as Vice General Manager [2] - Hao Chunguang will also continue to serve as the Secretary of the Board, while Jiang Daolin will remain as the Chief Financial Officer, with their terms lasting until the current Board's term ends [2]