Core Viewpoint - The company, Liu Jiu Yi Er (六九一二), has announced a significant decline in its projected net profit for the year 2025, indicating potential challenges ahead for its financial performance [1]. Group 1: Financial Performance - The company expects a net profit attributable to shareholders for 2025 to be between 39 million and 58 million yuan, representing a decrease of 40.48% to 59.97% compared to the previous year [1]. - The net profit after deducting non-recurring gains and losses is projected to be between 37 million and 55 million yuan, reflecting a decline of 44.31% to 62.54% year-on-year [1]. Group 2: Initial Public Offering (IPO) Details - Liu Jiu Yi Er was listed on the Shenzhen Stock Exchange's ChiNext board on October 24, 2024, with a public offering of 17.5 million shares, accounting for 25% of the total share capital post-issuance, at a price of 29.49 yuan per share [1]. - The total amount raised from the IPO was 516.075 million yuan, with a net amount of 452.7143 million yuan after deducting issuance costs, which was 338.8015 million yuan less than the original plan [1]. - The total issuance costs amounted to 63.3607 million yuan, including underwriting and sponsorship fees of 38.9491 million yuan [2]. Group 3: Cash Flow Analysis - The net cash flow from operating activities for Liu Jiu Yi Er from 2021 to 2024 was negative, with figures of -52.7628 million yuan, -20.7412 million yuan, -132.095 million yuan, and -144.8536 million yuan respectively [2].