菲林格尔：2025年预亏6500万元到8500万元

Core Viewpoint - The company, Filinger (603226.SH), expects to report significant losses for the year 2025, primarily due to ongoing challenges in the real estate and home decoration industries [1] Financial Performance - The company anticipates a net profit attributable to shareholders of between -85 million to -65 million yuan for 2025 [1] - The expected net profit after deducting non-recurring gains and losses is projected to be between -90 million to -70 million yuan [1] - Estimated operating revenue for 2025 is forecasted to be between 340 million to 370 million yuan, with core operating revenue (excluding unrelated business income) expected to be between 330 million to 360 million yuan [1] Industry Context - The real estate industry remains in an adjustment phase, with no significant recovery in market demand for the downstream home decoration sector [1] - Although the company's main business revenue has seen slight growth compared to the previous year, the gross margin has declined [1] Operational Challenges - The decline in gross margin is attributed to an increase in revenue from lower-margin mid-to-low-end products [1] - The company’s subsidiary in Danyang is expected to incur increased depreciation and fixed costs starting in the second half of 2024, contributing to the anticipated losses in 2025 [1] - The company plans to make provisions for asset impairment on certain fixed assets and inventory, further exacerbating the projected losses [1]