北斗星通2025年预亏大幅收窄 芯片模组与天线产品线收入显著增长

Core Viewpoint - Beidou Star's 2025 annual performance forecast indicates a significant reduction in net loss compared to the previous year, reflecting ongoing strategic adjustments and market opportunities in emerging sectors [1][4] Financial Performance - The company expects a net profit attributable to shareholders of between -290 million yuan and -230 million yuan for 2025, an improvement from -349.74 million yuan in the same period last year [1] - The expected net profit after deducting non-recurring items is projected to be between -350 million yuan and -290 million yuan, also narrowing from -416.62 million yuan year-on-year [1] Business Development - The company is focusing on two main businesses: "smart location digital foundation" and "ceramic components," while building a "cloud-core integration" business model to seize market opportunities [4] - Revenue from chip modules and antenna product lines has significantly increased due to the rapid expansion in emerging fields such as lawn mowers, smart driving, and consumer electronics [4] Strategic Initiatives - The acquisition of Shenzhen Tianli has accelerated the company's antenna business in the automotive market, further expanding its market reach and contributing to profit improvement [4] - The company plans to recognize goodwill impairment of approximately 150 million yuan due to accounting standards and market environment changes [4] - Research and development investment remains high at around 430 million yuan to support the "cloud-core integration" strategy [4] - The company is actively reducing its special equipment business, which has seen a decline in revenue and significant losses [4] Overall Outlook - Beidou Star is characterized by a dual approach of business growth and structural adjustment in 2025, with product lines targeting high-growth sectors gradually contributing to revenue [4] - The company is laying a solid foundation for long-term competitiveness through impairment recognition, focused R&D, and business contraction, with expectations for improved operational quality as strategic adjustments take effect and emerging market demand continues to grow [4]