IReader Technology(SH:603533) Shen Zhen Shang Bao·2026-01-24 06:25Core Viewpoint - The company, Zhangyue Technology, is expected to report a net loss of approximately 1.95 billion yuan for the year 2025, marking its first annual loss since its listing in 2017, primarily due to significant investments in strategic transformation and business expansion [1][2][3]. Group 1: Financial Performance - The projected net profit attributable to shareholders for 2025 is approximately -1.95 billion yuan, with a net profit of about -2.12 billion yuan after excluding non-recurring gains and losses, indicating a shift from profit to loss compared to the previous year [1][2]. - In the third quarter of 2025, the company reported a revenue of 24.62 billion yuan, representing a year-on-year growth of 28.68%, but the net profit attributable to shareholders was -2.17 billion yuan, a decline of 488.26% year-on-year [3][4]. - The net profit after excluding non-recurring gains and losses for the first three quarters of 2025 is projected to be -2.33 billion yuan, a decrease of 352.08% compared to the same period last year [3]. Group 2: Strategic Transformation - The company is undergoing a strategic transformation, shifting its focus to short dramas and derivative businesses, which have become its largest business segment [2][5]. - The strategic upgrade from a "digital reading platform in the internet era" to a "multi-modal content production and operation platform in the AI era" is part of the company's dual-driven development model of "domestic expansion and overseas breakthrough" [2][4]. - The dual-line development model has led to significant short-term investments, which have negatively impacted the company's overall profitability [2][4].