振华风光：公司主要客户为高可靠领域中央企业及科研院所

Core Viewpoint - The company anticipates an increase in credit impairment losses in Q3 2025 compared to the previous year, primarily due to a rise in accounts receivable and the corresponding increase in bad debt provisions [1] Group 1: Financial Performance - The increase in credit impairment losses is attributed to a higher balance of accounts receivable, which necessitates greater provisions for bad debts [1] - The company's main clients are state-owned enterprises and research institutions in high-reliability sectors, with sales primarily conducted on credit and longer payment cycles [1] Group 2: Risk Management - The company plans to continuously optimize its accounts receivable management by enhancing customer credit assessments and improving collection incentive mechanisms to mitigate risks [1] - Specific financial data and operational analysis will be available in the company's periodic reports [1]