ST英飞拓(002528.SZ)：报告期内公司持续亏损，预计报告期末归母净资产为负

Core Viewpoint - ST Yingfeitop (002528.SZ) is expected to report significant losses in 2025, with projected losses ranging from 240 million to 310 million yuan, primarily due to operational challenges in its digital services and IoT product segments [1] Financial Performance - The company anticipates a revenue range of 420 million to 540 million yuan for 2025, with a net asset value attributable to shareholders expected to be negative, between -65 million and -130 million yuan [1] - The non-recurring losses are projected to be between 290 million and 365 million yuan [1] Reasons for Performance Changes - The company plans to cease generating revenue from its loss-making digital operation services starting in 2025, following a contraction in this segment in the second half of 2024 [1] - The IoT product business is heavily reliant on overseas market revenues, which have been adversely affected by weak demand, leading to prolonged inventory turnover periods and significant declines in revenue and profit levels [1] - The solutions business has faced challenges due to insufficient operating funds, resulting in a decrease in existing projects, temporary interruptions in some engineering projects, extended delivery cycles, and delayed payments, all contributing to a decline in revenue scale and gross profit levels [1]