Sou Hu Cai Jing·2026-01-19 10:36Core Viewpoint - The company expects a net loss attributable to shareholders of the parent company ranging from RMB 1.289 billion to RMB 1.576 billion for the period ending December 31, 2025, indicating a loss compared to the same period in 2024 [1] Group 1 - The international crude oil prices have been fluctuating downward, contributing to the company's financial challenges [1] - There has been no significant improvement in market demand for products, which has further impacted profitability [1] - The gross profit margin for major refining products has decreased, exacerbating the overall financial situation [1] Group 2 - A major overhaul of production facilities in the fourth quarter has led to a decline in total commodity output [1] - The combination of reduced gross margins, lack of demand improvement, and decreased production volume has resulted in operational losses [1]