Core Viewpoint - Joyy Technology (301198.SZ) has announced a profit warning for the fiscal year 2025, projecting a net loss attributable to shareholders of between 8 million to 15 million yuan, with a net loss excluding non-recurring items expected to be between 11 million to 18 million yuan [1] Financial Performance - For the fiscal year 2024, the company reported a revenue of 366 million yuan, a decrease of 9.14% year-on-year, and a net loss attributable to shareholders of 11.84 million yuan, compared to a profit of 36.12 million yuan in the previous year [6] - The company achieved a revenue of 121 million yuan in the latest reporting period, reflecting a year-on-year growth of 45.22%, while the net profit attributable to shareholders was 2.1 million yuan, up 164.43% year-on-year [5] - The net profit excluding non-recurring items for the latest reporting period was 575,998.28 yuan, a year-on-year increase of 115.54% [5] Margin and Market Share - The company has expanded its market share, but the gross margin is expected to decline to 12.81% for the reporting period, down from 15.30% in the previous year, due to intensified competition in the downstream electric vehicle industry [2] - The anticipated impact of non-recurring items on net profit is approximately 307.93 thousand yuan [2] Asset Impairment - The company plans to recognize asset impairment losses totaling 754,662.90 yuan for the fiscal year 2025, including credit impairment losses and inventory write-downs [3][4] - Specific impairment amounts include 613.87 thousand yuan for accounts receivable and 243.21 thousand yuan for inventory write-downs [4]