帝欧水华(002798) - 2025 Q4 - 年度业绩预告

Financial Performance - In 2025, the company expects a net loss attributable to shareholders between -590 million and -460 million RMB, with a net loss excluding non-recurring items between -550 million and -420 million RMB[2]. - The company's operating revenue has declined due to a continuous contraction in the engineering channel business[2]. Asset Management - The company plans to conduct impairment tests on various assets due to multiple factors affecting performance, which may lead to impairment provisions[2]. Financial Expenses - Financial expenses related to the issued convertible bonds are estimated at approximately 82.47 million RMB for the current period[2]. Gross Margin Improvement - Despite the revenue decline, the overall gross margin has improved year-on-year due to deepening distribution channels, optimizing product structure, and enhancing internal operational management[2].