YLYT(SZ:002878) Xin Hua Cai Jing·2025-07-16 12:43Core Viewpoint - Yuanlong Yatu, a company that gained popularity for designing the "Bing Dwen Dwen" mascot, has recently announced a significant shift in its financial performance, projecting a net loss of 5 to 10 million yuan for the first half of the year, compared to a profit of 25.79 million yuan in the same period of 2024 [1][2]. Financial Performance - The company has identified a case of embezzlement by a sales employee, who allegedly forged contracts and misrepresented sales, impacting the company's revenue significantly. The estimated impact on sales revenue for the first quarter alone is approximately 29.35 million yuan [2]. - Yuanlong Yatu's revenue decreased by 18.19% year-on-year in 2023, with net profit dropping by 85.86%. The company is expected to report its first loss since going public in 2024, with a projected net profit of -184 million yuan [3][4]. Market Reaction - Following the announcement of the financial issues, Yuanlong Yatu's stock price fell to the daily limit, resulting in a market value loss of about 540 million yuan. This decline occurred after a significant increase of 123% over 45 trading days earlier in April [4]. Industry Context - The new media marketing industry is facing intensified competition, which is expected to slow down the growth of Yuanlong Yatu's related business and decrease its gross margin. The company's high-margin licensed business is also anticipated to suffer due to fewer major events in 2024 [4].