MAE(SZ:002009) Xin Lang Cai Jing·2026-01-28 18:54Group 1 - The company expects a positive net profit for the year 2025, indicating a turnaround from previous losses [1] - The performance improvement is primarily driven by the smart equipment and lithium battery recycling sectors, with significant growth in overseas projects and a reduction in losses for the lithium battery recycling business [2] - The smart equipment business has a strong order reserve, with notable growth in both domestic and international markets, leading to stable revenue and profit growth [2] Group 2 - The lithium battery recycling business faced challenges due to unstable raw material supply, but improved capacity utilization in Q4 and rising cobalt prices have led to a significant reduction in losses [2] - The recycling equipment business has seen declining revenue due to a depressed scrap steel market, resulting in substantial losses [2] - The company is assessing goodwill impairment related to its acquisition of Jiangxi Tianqi Jintai Ge Cobalt Co., with indications of impairment based on market conditions and operational performance [3] Group 3 - The company anticipates recognizing an investment loss of between 25 million to 30 million yuan from its stake in Wuxi Youqi Intelligent Technology Co., which is still in the R&D phase [3] - Non-operating income for the reporting period is estimated to be around 130 million to 140 million yuan, primarily from the disposal of equity in associated companies and long-term assets [3] - The performance forecast is based on preliminary estimates and has not been audited, with final figures to be disclosed in the 2025 annual report [4]