GLCC(SH:600234) 2 1 Shi Ji Jing Ji Bao Dao·2026-01-23 08:33Core Viewpoint - Kexin Development has announced a projected net loss for the fiscal year 2025, indicating a challenging financial outlook due to competitive pressures in the construction industry and increased credit impairment losses [1] Financial Performance - The company expects a net profit attributable to shareholders of the parent company to be between -19.9165 million and -13.278 million yuan for the year 2025, representing a significant loss compared to the previous year [1] - The projected net profit after deducting non-recurring gains and losses is estimated to be between -42.8323 million and -28.5787 million yuan [1] Industry Context - The construction industry remains highly competitive, leading to a decline in gross margins for some projects as the company seeks to expand its market and acquire new clients [1] Credit Impairment - The company has recognized credit impairment losses totaling approximately 15 million yuan related to accounts receivable from its internet advertising marketing business and historical receivables from the Baoneng Group [1] Asset Valuation - The fair value of the company's investment properties has decreased by approximately 4.6 million yuan compared to the previous year [1]