均瑶健康：2025年预计亏损1.44亿元至2.16亿元，同比减少395.14%至642.71%

Core Viewpoint - Junyao Health (605388) is expected to report a net loss of approximately 144 million to 216 million yuan for the year 2025, representing a significant decrease of about 115 million to 187 million yuan compared to the previous year, with a year-on-year decline of 395.14% to 642.71% [1] Group 1 - The primary reason for the performance change is the ongoing pressure on the consumption environment, which has led to a reduction in market share for dairy beverages and weak demand from downstream customers [1] - Revenue from the company's traditional ambient yogurt business has decreased compared to the same period last year, contributing to the decline in profit [1] Group 2 - The company is focusing on optimizing its revenue structure while actively expanding e-commerce channels, new retail channels, and chain KA channels [1] - This expansion has resulted in a significant increase in upfront sales and marketing expenses compared to the same period last year [1] Group 3 - The company has increased its investment in research and development, leading to a corresponding rise in R&D expenses [1]