深信服(300454) - 2025 Q4 - 年度业绩预告

Financial Projections - The company expects a net profit of between 348 million and 399 million CNY for 2025, representing a year-on-year increase of 76.77% to 102.67%[4] - Revenue is projected to be between 793 million and 805.9 million CNY, reflecting a growth of 5.46% to 7.17% compared to the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses is estimated to be between 236 million and 278 million CNY, indicating a significant increase of 207.23% to 261.91% year-on-year[4] - The company anticipates that non-recurring gains and losses will impact net profit by approximately 108 million to 137 million CNY, primarily from government subsidies and investment income[6] - The financial data in the earnings forecast has not been audited but has been discussed with the accounting firm, with no significant discrepancies reported[4][7] - The company will provide detailed financial data in the 2025 annual report, urging investors to make cautious decisions[7] - The earnings forecast period is from January 1, 2025, to December 31, 2025[3] Operational Insights - The cloud computing industry trend is favorable, contributing to the company's revenue growth and improved operational management capabilities[6] - The company's overall gross margin has slightly decreased due to a higher proportion of lower-margin cloud computing business[6] - The company has successfully reduced its combined R&D, sales, and management expenses by about 1% during the reporting period[6]