DFSS(SH:603377) Zhong Guo Zheng Quan Bao·2026-01-20 14:19Group 1 - The company ST Dongshi (603377) expects a net profit loss of 600 million to 700 million yuan for the year 2025, compared to a loss of 903 million yuan in the same period last year [4] - The expected net profit loss excluding non-recurring items is projected to be between 505 million and 605 million yuan, down from a loss of 608 million yuan in the previous year [4] - The company's price-to-book ratio (LF) is approximately 3.49 times, and the price-to-sales ratio (TTM) is about 4.37 times based on the latest closing price [4] Group 2 - The company's main business focuses on motor vehicle driver training and civil aviation pilot training [15] - The decline in performance is attributed to a decrease in the number of training students compared to the same period last year, leading to reduced operating income [15] - Legal disputes and administrative penalties have resulted in increased non-operating expenses and related taxes, causing significant asset impairment losses [15]