Core Viewpoint - Zhongtian Decoration (002989.SZ) expects a loss of 128 million to 190 million yuan in 2025, representing a year-on-year reduction in losses of 55.65% to 70.12% [1] Business Performance - The company has optimized its business structure and effectively controlled costs, leading to an improvement in gross profit margin [1] - During the reporting period, the company strengthened the management of accounts receivable, enhancing the quality and efficiency of collections, resulting in a year-on-year decrease in credit impairment losses [1] - The establishment of an asset management department has been aimed at promoting asset disposal and accelerating the realization of non-current assets, contributing to a year-on-year decline in asset impairment losses [1] Innovation and New Business - The newly established subsidiary is in the early stages of development, generating minimal revenue while incurring additional sales and management expenses [1] - The company is deepening its layout in the semiconductor industry chain through external investments to secure quality targets, although the profits from related equity investments were negative during the reporting period [1]

Core Viewpoint - The company Zhongtian Jingzhuang (002989) has announced a forecast for its 2025 financial performance, expecting a net loss attributable to shareholders between 128 million yuan and 190 million yuan, compared to a loss of 428 million yuan in the previous year [4] Financial Performance Summary - The forecasted net profit for 2025 is expected to be a loss of 128 million to 190 million yuan, with a non-recurring net profit loss estimated between 138 million and 205 million yuan, compared to a loss of 410 million yuan in the previous year [4] - The basic earnings per share is projected to be between -0.64 yuan and -0.96 yuan [4] - The company's price-to-book ratio (LF) is approximately 3.87 times, and the price-to-sales ratio (TTM) is about 19.22 times based on the latest closing price [4] Historical Financial Metrics - The historical price-to-earnings ratio (TTM) has shown significant fluctuations over recent years, indicating varying market perceptions of the company's value [5][6] - The historical price-to-book ratio (LF) has also varied, reflecting changes in the company's market valuation relative to its book value [8][10] Business Operations and Strategy - The company primarily engages in providing residential bulk decoration services, including construction decoration engineering and design [13] - The recent performance changes are attributed to an optimized business structure, effective cost control leading to improved gross margins, and enhanced management of receivables, resulting in a decrease in credit impairment losses [14] - The establishment of a new subsidiary has contributed to initial revenue but also incurred additional sales and management expenses, while investments in the semiconductor industry have led to losses from associated enterprises [14]

经济观察网2026年1月30日，中天精装（002989）发布2025年度业绩预告，预计2025年净利润亏损1.28 亿元至1.9亿元，同比下降55.65%至70.12%；扣除非经常性损益后的净利润亏损1.38亿元至2.05亿元，同 比下降50.01%至66.35%。 ...

| 证券代码：002989 | 证券简称：中天精装 | 公告编号：2026-003 | | --- | --- | --- | | 债券代码：127055 | 债券简称：精装转债 | | 深圳中天精装股份有限公司 2025 年度业绩预告 本报告期公司业绩变动的主要原因如下： 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、本期业绩预计情况 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日 2、业绩预告情况：预计净利润为负值 | 项 | 目 | 本报告期（2025 | 年 | 1 | 月 1 | 日至 | 上年同期（2024 | | 年 1 | 月 1 | 日至 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 年 2025 12 | 月 | 31 | 日） | | 年 2024 | 12 | 月 31 | 日） | | | 归属于上市公司股 东的净利润 | | 亏损：12,800 | 万元—19,000 | | ...

证券日报网讯 1月22日，中天精装（002989）在互动平台回答投资者提问时表示，公司参股企业科睿斯 半导体科技（东阳）有限公司主营FCBGA高端封装基板业务，产品应用于TPU/CPU/GPU/AI芯片等高 算力芯片的封装，是HBM存储芯片的封装材料。目前科睿斯首款高端FCBGA封装基板样品已顺利完成 生产并交付入库，正推动客户检测与认证流程。公司持续关注和支持参股企业经营发展，如出现对外投 资重大进展、资本运作计划、对公司有重大影响的事项，将及时履行信息披露义务。 ...

Group 1 - The company, Zhongtian Precision Decoration, announced plans to establish a new holding subsidiary in the first half of 2025 to engage in innovative business activities [1] - Shenzhen Weifeng Technology Co., Ltd. will focus on semiconductor packaging and testing equipment, while Zhejiang Zhongtian Data Technology Co., Ltd. will primarily provide AI integration services [1] - The revenue from these innovative businesses is expected to be small in the first three quarters of 2025 and will not significantly impact the company's total revenue [1] - The company plans to disclose its 2025 annual report on April 29, 2026, which will provide detailed information on revenue and its composition [1]

（编辑 袁冠琳） 证券日报网讯 1月22日，中天精装在互动平台回答投资者提问时表示，科睿斯半导体科技（东阳）有限 公司系公司参股企业，穿透计算的持股比例合计为27.99%，不属于公司合并报表范围内企业。科睿斯 主营FCBGA高端封装基板业务，产品应用于TPU/CPU/GPU/AI芯片等高算力芯片的封装。目前科睿斯 首款高端FCBGA封装基板样品已顺利完成生产并交付入库，正推动客户检测与认证流程。公司将持续 关注和支持参控股企业经营发展，根据《深圳证券交易所股票上市规则》《公司章程》等相关规定及时 履行必要的信息披露义务。 ...

Group 1 - The core viewpoint of the article is that Zhongtian Jingzhuang's subsidiary, Zhejiang Zhongtian Shusuan Technology Co., Ltd., is engaged in AI integration services targeting various sectors such as AI healthcare, AI film, AI education, and edge computing [1] - As of now, Zhongtian Shusuan has orderly commenced some business operations; however, the cumulative revenue generated remains small and does not significantly impact the company's overall performance [1]

证券日报网讯1月22日，中天精装（002989）在互动平台回答投资者提问时表示，公司锚定战略方向， 在平稳运营装修装饰业务的基础上，保持战略定力、纵深布局半导体产业链，各项经营计划逐步落地。 公司当前对外投资参股了ABF载板领域的科睿斯半导体科技(东阳)有限公司、HBM设计制造领域的深圳 远见智存科技有限公司、先进封装领域的合肥鑫丰科技有限公司等，将力争实现参控股企业协同发展、 提高经营质量。公司根据战略方向和经营情况开展投资运作，不局限于财务投资。公司将持续关注和支 持参股企业发展，如涉及对外投资重大进展、资本运作计划等，将及时履行信息披露义务。 ...

Core Viewpoint - Zhongtian Jingzhuang (002989.SZ) is actively engaged in AI integration services through its subsidiary, Zhejiang Zhongtian Shusuan Technology Co., Ltd, targeting sectors such as AI healthcare, AI film, AI education, and edge computing. The revenue generated so far is relatively small and does not significantly impact the company's overall performance [1]. Group 1 - The subsidiary focuses on AI integration services [1] - Target customers include industries like AI healthcare, AI film, AI education, and edge computing [1] - Revenue generated to date is minor and does not materially affect the company's operational performance [1]