LIONHEAD(SH:600539) Zhong Guo Ji Jin Bao·2026-01-19 09:33Core Viewpoint - Lionhead Co., Ltd. (狮头股份) is expected to reduce its net profit loss by 23.36%-38.55% in 2025, indicating a continuous improvement in performance despite challenges in the e-commerce sector [1][2]. Group 1: Financial Performance - In 2025, Lionhead's operating revenue is projected to remain stable year-on-year, while the net profit loss is expected to narrow significantly, with a forecasted loss of between 18.2 million to 22.7 million yuan [2]. - The company anticipates a non-recurring net profit loss of 21.2 million to 25.7 million yuan, reflecting a reduction of 27.96%-40.57% year-on-year [2]. - The e-commerce business faces pressure from intensified competition and product homogenization, leading to challenges in sales revenue growth [2]. Group 2: Business Strategy and Adjustments - Lionhead has been optimizing its business structure, focusing on its core e-commerce operations while exploring new market channels such as duty-free sales [3]. - The company has successfully introduced three new health-related brand partnerships in 2025, enhancing its industry reputation [3]. - Lionhead plans to divest its water faucet and accessories business, which has been consistently unprofitable, while continuing to develop its e-commerce service business as a key growth driver [3]. Group 3: Mergers and Acquisitions - Lionhead is pursuing a strategic transformation by planning to acquire Lipu Technology, a machine vision company, for 662.4 million yuan, aiming to create a new growth curve [4][5]. - Lipu Technology has shown steady growth, with a projected net profit of 33.14 million yuan in 2024, marking a 37.61% increase year-on-year [6]. - The acquisition aligns with the growing industrial machine vision market in China, which is expected to reach 63.01 billion yuan by 2029, with a compound annual growth rate of 18.62% from 2024 to 2029 [6].