SDWH(SH:600241) Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2026-01-20 23:33Core Viewpoint - The company anticipates a significant decline in financial performance for the year 2025, projecting a net loss attributed to the parent company of between 1.40 billion and 1.20 billion yuan, alongside a decrease in revenue compared to the previous year [2][3]. Financial Performance Forecast - The company estimates that for the fiscal year 2025, it will achieve approximately 383 million yuan in revenue [2][3]. - The projected net loss for the year 2025 is between 1.40 billion and 1.20 billion yuan [2][3]. - The net profit attributable to the parent company, after excluding non-recurring gains and losses, is expected to be between 1.43 billion and 1.23 billion yuan [4]. Previous Year Comparison - In the previous year, the company reported revenue of 401 million yuan [5]. - The net profit attributable to the parent company was 19.38 million yuan, with a net profit of 18.40 million yuan after excluding non-recurring gains and losses [5]. Reasons for Expected Loss - The primary reason for the anticipated loss is a decrease in revenue from the core business of new energy batteries, coupled with a decline in gross margin, leading to a downturn in operational performance [7]. - The company is also facing potential impairment of long-term assets due to the performance forecasts of two subsidiaries in the new energy battery sector [7]. - The company’s associate, Liaoning Shidai Dasha Co., Ltd., is expected to incur losses, which will be recognized as investment losses under the equity method [8]. - There are concerns regarding receivables from the subsidiary Liaoning Jiuyi Lithium Energy Co., Ltd., which has a long-term negative net asset value, indicating a substantial risk of loss on these receivables [8].