Qianjing Landscape(SH:603778) Xin Lang Cai Jing·2026-01-20 14:47Core Viewpoint - Guosheng Technology (603778.SH), known for its significant stock price fluctuations, is projected to face continuous losses for six consecutive years, with an estimated loss of 325 million to 650 million yuan in 2025 due to industry challenges and high costs [1] Group 1: Financial Performance - The company has reported negative net profits from 2020 to 2024, indicating ongoing financial struggles [1] - In the latest forecast, Guosheng Technology attributes its declining revenue and profitability to structural overcapacity in the photovoltaic industry and persistent low component prices [1] Group 2: Strategic Moves - Despite challenges in the photovoltaic sector, the company is shifting focus to the solid-state battery field, planning to invest 230 million yuan in a subsidiary for a 10GWh solid-state battery manufacturing project [2] - Additionally, the company announced a cash acquisition of 240.6 million yuan for 100% equity in Tongling Fuyue Technology Co., entering the high-precision lithium battery structural components market [2] Group 3: Market Performance and Regulatory Attention - As of the end of Q3 2025, the company had only 273 million yuan in cash and a debt ratio of 70.52%, highlighting financial instability [3] - Since October 2025, the stock price has surged by 732.43%, raising concerns about irrational market speculation and potential risks of a rapid price drop [3] - The stock experienced significant volatility, leading to a trading suspension and regulatory scrutiny from the Shanghai Stock Exchange due to abnormal trading behaviors [3][4]