增收带动毛利提升，中国长城2025年同比减亏95.27%至97.63%

Core Viewpoint - China Great Wall announced a forecast for its 2025 annual performance, expecting a net loss attributable to shareholders of approximately 35 million to 70 million yuan, a significant reduction in loss compared to the previous year's loss of 147.851 million yuan, representing a year-on-year decrease in loss of 95.27% to 97.63% [2] Group 1 - The company anticipates a net profit attributable to shareholders, excluding non-recurring gains and losses, to be a loss of approximately 63 million to 74 million yuan, down from a loss of 148.027 million yuan in the previous year, indicating a year-on-year reduction in loss of 50.01% to 57.44% [2] - Basic earnings per share are expected to be a loss of approximately 0.011 to 0.022 yuan, compared to a loss of 0.459 yuan in the previous year [2] - The company attributes the performance changes to three main factors, including a focus on core business strategies, optimization of business structure, and steady growth in operating income, which led to an increase in gross profit [2] Group 2 - The company has improved resource utilization efficiency and optimized asset structure by divesting non-core assets, resulting in significant investment disposal gains that contributed to the reduction in net loss [2] - A comprehensive review and impairment testing of various assets were conducted based on prudent principles, leading to the recognition of asset impairment provisions [2] - The company expects non-recurring gains and losses attributable to shareholders to be approximately 59.5 million to 67 million yuan, primarily from non-current asset disposal gains and government subsidies [3]