三安光电：预计2025年度亏损2亿元至4亿元

Core Viewpoint - Sanan Optoelectronics (600703) expects a net profit loss of 200 million to 400 million yuan for the fiscal year 2025, indicating significant financial challenges ahead [1] Financial Performance - The proportion of high-end LED products has further increased during the reporting period [1] - Revenue and profitability from the integrated circuit business have improved year-on-year, although the filter and silicon carbide segments continue to significantly drag down overall profits [1] Government Support and Expenses - The company has experienced a year-on-year decrease in government subsidies received [1] - Research and development expenses have increased compared to the previous year [1] Investment Income and Inventory - The sales price of precious metal waste has been adjusted due to discrepancies with the Shanghai Gold Exchange price trends, leading to reduced investment income [1] - There has been an increase in provisions for inventory write-downs due to the net realizable value being lower than the cost compared to the previous year [1]