CYG(SH:600525)2025-01-17 10:10Financial Performance - The company expects a net profit attributable to shareholders for 2024 to be between -900 million and -600 million RMB, indicating a loss compared to the previous year [2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between -950 million and -650 million RMB for 2024 [2]. - In 2023, the total profit was 169.04 million RMB, with a net profit attributable to shareholders of 85.54 million RMB [4]. Impairment and Provisions - The company plans to recognize an impairment loss of 300 million to 450 million RMB on goodwill related to certain business acquisitions due to expected performance issues [5]. - An additional impairment provision of 200 million to 300 million RMB is anticipated for related assets such as inventory and receivables [6]. Revenue and Market Conditions - The decline in revenue is attributed to intense market competition in the new energy engineering sector and adverse macroeconomic conditions affecting consumer electronics and lithium battery materials [5]. Legal and Financial Risks - Legal risks include ongoing lawsuits with potential liabilities of approximately 572 million RMB and 56 million RMB, which may affect 2024 net profits [7]. R&D Investment - The company has committed to increasing R&D investment, which has impacted the current year's losses [5]. Settlement and Financial Data - The company received a settlement amount of 88.07 million RMB in 2024, which is expected to increase profits for the year [5]. - The financial data provided is preliminary and subject to change pending the completion of the annual audit [9].