HPF(SZ:300350)2026-01-29 10:48Financial Performance Expectations - The company expects a net profit attributable to shareholders to be a loss of 30 million RMB for the year 2025, compared to a profit of 17.14 million RMB in the same period last year [2]. - The net profit after deducting non-recurring gains and losses is expected to be a loss of 4.5 million RMB, compared to a loss of 26.12 million RMB in the previous year [2]. Investment Losses - The anticipated loss is primarily due to investment losses from a 9.76% stake in Dongguan Feite Semiconductor Holdings, which is affected by geopolitical issues leading to forced sales by the UK government [4]. - The expected negative impact on fair value changes is projected to exceed 19 million RMB, pending confirmation from the auditing firm [5]. Provisions and Impairment Testing - The increase in accounts receivable and the growth of the logistics business are expected to lead to higher provisions for bad debts in 2025 [5]. - The company has not yet completed impairment testing, and the final amount of impairment losses will be determined by the auditing firm [5]. Audit and Reporting - The preliminary results of the earnings forecast have not been audited, and detailed data will be disclosed in the 2025 annual report [6]. - The board will closely monitor the audit progress, and any significant discrepancies between the forecast and actual results will be announced promptly [6].