西测测试(301306) - 2025 Q4 - 年度业绩预告

Financial Performance - The company expects a net loss of between CNY 116 million and CNY 165 million for the fiscal year 2025, compared to a net loss of CNY 158.27 million in the same period last year [3]. - Operating revenue is projected to be between CNY 300 million and CNY 350 million, down from CNY 388.81 million in the previous year [3]. Strategic Investments - The company has made strategic investments in capacity and capability building, leading to increased depreciation, personnel costs, and operating expenses [5]. - The establishment of a new marketing center in Beijing has resulted in higher market expansion costs [5]. Business Operations - The electronic assembly business has focused on optimizing customer structure, with a significant decline in revenue from civilian products [6]. - The company has achieved NADCAP, ASP, and SPCAP certifications for its subsidiary, laying the groundwork for future high-reliability business expansion [6]. Market Competition - Increased competition in certain inspection and testing market segments has pressured pricing and gross margins, but the company has managed to control overall losses through improved service quality and internal management [6]. Accounts Receivable Management - The company has strengthened accounts receivable management, with a year-on-year increase in cash collections, although the overall accounts receivable balance remains high [6].