恒尚节能：预计2025年净利润为-3800万元到-2600万元

Group 1 - The company, Hengshang Energy, expects to report a net profit attributable to shareholders of between -38 million and -26 million yuan for the year 2025, indicating a loss compared to the same period last year [1] - The primary reason for the performance change is a decline in operating revenue, influenced by macroeconomic factors and decreasing demand in the domestic construction curtain wall industry, which is facing increasing downward pressure and intensified competition [1] - The company's project gross margin, engineering settlement, and ongoing construction volume have decreased, leading to a year-on-year reduction in operating revenue [1] Group 2 - The company has made provisions for bad debts and asset impairment losses during the reporting period, largely due to extended settlement cycles from downstream clients, which affected the expected progress of project collections [1]