2026-02-27 10:20Financial Performance - Total revenue for 2025 was RMB 262.13 million, a decrease of 28.51% compared to the previous year[6] - Net profit attributable to shareholders of the parent company was RMB -628.29 million, down 37.65% year-on-year[7] - Basic earnings per share decreased by 37.56% to RMB -2.71[6] - Total assets at the end of the reporting period were RMB 3,741.43 million, a decline of 21.71% from the beginning of the period[7] - Equity attributable to shareholders of the parent company decreased by 21.43% to RMB 2,012.09 million[6] - The weighted average return on net assets was -27.91%, a decrease of 11.72 percentage points year-on-year[6] Market Conditions - The decline in performance was primarily due to increased market competition and a cautious market expansion strategy, leading to a decrease in fuel cell system sales[8] - The company is in the early stages of commercialization in the hydrogen fuel cell industry, which is affecting overall profitability[8] Cash Flow and Impairment - The company faced pressure on cash flow, resulting in increased credit impairment losses and asset impairment losses compared to the previous year[9] Investor Advisory - Investors are advised to be cautious as the financial data is preliminary and unaudited, with final results to be confirmed in the official annual report[10]