碧兴物联：预计2025年年度净利润-9700万元到-7700万元

Group 1 - The company expects to report a net loss attributable to shareholders of the parent company for 2025, ranging from -97 million to -77 million yuan, indicating continued losses compared to the same period last year [1] - The primary reasons for the performance change include a shrinking overall demand in the industry due to macroeconomic conditions and intensified market competition, leading to reduced order profits and a decline in revenue order gross margins [1] - To maintain long-term technological advantages and cultivate new growth curves, the company is committed to advancing research and development innovation and product iteration, with R&D expenses expected to increase year-on-year in 2025 [1] Group 2 - The company is also experiencing increased operational expenses related to talent development and market expansion to adapt to business growth and organizational upgrades [1] - Due to the current economic environment and changes in industry credit risks, along with tight local fiscal funding, the company is facing delays in project receivables [1] - To prudently reflect asset quality, the company has conducted systematic risk assessments on accounts receivable, contract assets, and inventory, and has made provisions for credit impairment losses and asset impairment losses this year [1]