淳中科技：2025年全年净利润同比预增208.86%—238.00%

Core Viewpoint - The company, Chunz中科技, anticipates a significant increase in net profit for 2025, while also forecasting a substantial decline in net profit excluding non-recurring gains and losses, indicating mixed performance expectations for the upcoming year [1] Financial Performance - The company expects a net profit attributable to shareholders of 26,500 million to 29,000 million yuan for 2025, representing a year-on-year increase of 208.86% to 238.00% [1] - The projected net profit excluding non-recurring gains and losses is expected to be between -3,600 million and -2,900 million yuan, reflecting a year-on-year decrease of 149.12% to 139.57% [1] Reasons for Performance Changes - The decline in traditional professional audio-visual business projects and a decrease in new orders contributed to the performance changes [1] - A significant drop in the shipment volume of customized liquid cooling testing platforms for overseas clients due to material changes and product iterations led to a 95% decrease in revenue from the artificial intelligence business compared to the previous year [1] Investment Valuation - The company holds 854,256 shares of Muxi Co., Ltd. (SH.688802), with a total market value of 49,555 million yuan based on the closing price of 580.10 yuan per share [1] - The investment cost was 5,000 million yuan, resulting in an unrealized gain of 44,555 million yuan [1] - Due to a lock-up period, the fair value measurement of this investment will consider liquidity discounts, with an estimated increase in fair value change income of 35,647 million yuan, impacting net profit attributable to shareholders by approximately 30,300 million yuan after deferred income tax expenses [1]