帕瓦股份(688184) - 2025 Q4 - 年度业绩预告

Financial Performance Forecast - The company expects a net profit attributable to shareholders of the parent company for 2025 to be between -700 million and -550 million CNY, representing a reduction in losses of 26.5 million to 176.5 million CNY compared to the previous year, a year-on-year decrease in losses of 3.65% to 24.29%[3] - The expected net profit attributable to shareholders of the parent company, after deducting non-recurring gains and losses, is projected to be between -695 million and -545 million CNY, indicating a reduction in losses of 36.76 million to 186.76 million CNY compared to the previous year, a year-on-year decrease in losses of 5.02% to 25.52%[5] - The company reported a total profit of -725.73 million CNY and a net profit attributable to shareholders of the parent company of -726.50 million CNY for the previous year[7] - The performance forecast is based on preliminary calculations by the company's finance department and has not yet been audited by a registered accountant[10] - The performance forecast period is from January 1, 2025, to December 31, 2025[4] Business Risks - The primary reason for the loss is the company's initiative to optimize business quality by streamlining and optimizing the sales order structure, while fixed costs remain high due to depreciation of fixed assets and low production and sales volumes[8] - The company is currently facing risks related to internal control audits, with a negative opinion issued by the accounting firm for the 2024 financial report, and uncertainties remain for the 2025 internal control audit[3] - There is a risk of delisting from the Shanghai Stock Exchange if the 2025 financial report receives a negative opinion or an inability to express an opinion from the auditor[3] - The company has made retrospective adjustments to certain accounting items due to investigations involving a former executive, which may impact the 2025 financial statements[9] Investment Advisory - Investors are advised to pay attention to investment risks as the forecast data is subject to change pending the final audited financial report[11]