秦川物联：预计2025年年度净利润为-1亿元到-1.2亿元

Group 1 - The company Qin Chuan IoT expects a net profit attributable to shareholders of the parent company to decline to between -100 million to -120 million yuan in 2025, representing a year-on-year decrease of 53.29% to 83.95% [1] - The primary reason for the performance change is intensified domestic market competition affecting the sales volume and unit price of the company's IoT smart gas meters [1] - Revenue from the overseas gas meter market and the smart sensor segment has increased during the reporting period, but these businesses are still in a key market development phase with low initial bases and long customer onboarding cycles, resulting in no scale effect yet [1] Group 2 - The decline in sales of IoT smart gas meters, combined with low production and sales volumes of smart sensors, has led to low capacity utilization across the company's business segments [1] - High fixed costs such as depreciation, amortization, and labor have resulted in elevated unit costs for the company's products, while intensified market competition has caused a drop in sales prices, collectively leading to a decrease in gross margin [1]