NCGF(SZ:300198) 2 1 Shi Ji Jing Ji Bao Dao·2026-01-27 10:37Core Viewpoint - ST Nanchuan has announced an annual performance forecast indicating a significant decline in net profit for 2025, projecting a loss between 305 million yuan and 245 million yuan, primarily due to liquidity issues and increased competition in the market [1] Group 1: Financial Performance - The company expects a net profit attributable to shareholders of the listed company to be between -305 million yuan and -245 million yuan for the year 2025 [1] - The projected net profit after deducting non-recurring gains and losses is estimated to be between -225 million yuan and -165 million yuan [1] Group 2: Reasons for Performance Decline - The decline in performance is attributed to multiple factors, including long-term overdue accounts receivable from invested PPP and BT projects, leading to liquidity difficulties and overdue debts [1] - Increased competition in the market has further exacerbated the company's financial challenges, resulting in a decrease in overall revenue compared to the previous year [1] - The company has faced increased credit and asset impairment losses due to unsatisfactory cash inflows from PPP and BT projects [1] - To control costs and improve production efficiency, the company has continued to suspend operations at certain subsidiaries, leading to increased asset impairment provisions [1] - The liquidity issues have also resulted in overdue bank loans and inability to timely pay operational debts, increasing the company's provisions for penalties and default fees [1]