RED SUN(SZ:000525) Ge Long Hui A P P·2026-01-28 13:27Core Viewpoint - Hongyang (000525.SZ) is expected to report a net loss of 260 million to 390 million yuan for the year 2025, a significant shift from a profit of 388.06 million yuan in the same period last year, indicating a transition from profit to loss [1] Financial Performance - The anticipated net profit attributable to shareholders is expected to turn from profit to loss year-on-year, primarily due to the absence of substantial non-recurring gains that were recognized in the previous year following the company's judicial restructuring [1] - The company forecasts a continued net loss after excluding non-recurring gains, but with a significant reduction in the loss compared to the previous year, indicating a recovery in the main business operations [1] Operational Insights - The main business is showing a noticeable recovery, with an improvement in product gross margins, alongside a decrease in financial and management expenses, suggesting a gradual restoration of profitability [1]