东方时尚(603377) - 2025 Q2 - 季度业绩预告

Interpretation of Dongfang Fashion's 2025 Semi-Annual Pre-Loss Announcement This report interprets Dongfang Fashion Driving School's preliminary announcement regarding its significant net loss for the first half of 2025 Current Period Performance Forecast The company expects to record a significant net loss for the first half of 2025, with net profit attributable to shareholders projected between -126 million yuan and -105 million yuan, based on preliminary, unaudited figures Estimated Performance (H1 2025) | Performance Indicator | Estimated Amount (RMB) | | :--- | :--- | | Net Profit Attributable to Shareholders of Listed Company | -126 million yuan to -105 million yuan | | Net Profit After Deducting Non-Recurring Gains and Losses | -126 million yuan to -105 million yuan | - The performance forecast period for this announcement is from January 1, 2025, to June 30, 2025[4] - The company explicitly states that the data in this performance forecast is unaudited by a certified public accountant[4] Comparison with Prior Period Performance Compared to the same period in 2024, the company's loss in the first half of 2025 is expected to significantly widen, from a net loss of 72.71 million yuan in H1 2024 to a substantially larger projected loss in H1 2025 Prior Period Performance (H1 2024) | Performance Indicator (H1 2024) | Amount (RMB) | | :--- | :--- | | Net Profit Attributable to Shareholders of Listed Company | -72.71 million yuan | | Net Profit After Deducting Non-Recurring Gains and Losses | -72.94 million yuan | | Earnings Per Share | -0.1 yuan | - The projected loss for the first half of 2025 (-126 million to -105 million yuan) shows a significant widening trend compared to the loss of -73 million yuan in the same period of 2024[3][5] Analysis of Performance Loss Reasons The company attributes the expanded loss to declining training enrollment due to macroeconomic and consumption downgrade impacts, coupled with rigid high fixed costs like depreciation and amortization that did not decrease proportionally with revenue - Revenue decline: Affected by the domestic macroeconomic situation and public consumption downgrade, the number of training participants decreased year-on-year in the first half of 2025, leading to reduced revenue[7] - Cost rigidity: The company's business model involves significant upfront asset investment, resulting in a high proportion of fixed costs, primarily depreciation and amortization; despite strict cost control, these fixed costs could not decrease proportionally with revenue, thus impacting profit[7] Risk Warning and Other Explanations The company emphasizes that this performance forecast is a preliminary, unaudited calculation by the finance department, and final accurate financial data will be subject to the officially disclosed 2025 semi-annual report, advising investors to be aware of investment risks - This performance forecast represents preliminary calculations by the company's finance department based on its professional judgment and has not yet been audited by a certified public accountant[8] - The company advises investors that the specific and accurate financial data will be subject to the officially disclosed 2025 semi-annual report, and investment risks should be noted[9]