行业竞争加剧，路畅科技2025年预亏7500万元-1.1亿元

Core Viewpoint - The company, Luochang Technology, anticipates a net loss for the fiscal year 2025, projecting a loss between 75 million to 110 million yuan, compared to a loss of 55.41 million yuan in the previous year [2] Financial Performance - The expected net profit, excluding non-recurring gains and losses, is projected to be a loss between 78 million to 120 million yuan, compared to a loss of 57.33 million yuan in the previous year [2] - The basic earnings per share are expected to be a loss of 0.62 to 0.92 yuan per share, compared to a loss of 0.4618 yuan per share in the previous year [2] Business Operations - The company attributes the anticipated performance improvement in automotive electronics revenue to the release of orders from main engine factory projects, despite a decline in overall gross margin due to intensified industry competition [2] - To capture and expand market share, the company has increased its investment in research and development for automotive electronics technology and products, leading to a year-on-year increase in R&D and sales expenses [2] Subsidiary Impact - The subsidiary, Nanyang Changfeng, has experienced a decline in profit margins due to rising upstream raw material prices and intense competition in the downstream market [2] - The company completed the transfer of 100% equity in Nanyang Changfeng on June 30, 2025, after which it will no longer be included in the company's consolidated financial statements [2]