Zhi Tong Cai Jing·2026-01-30 03:18Group 1 - The core viewpoint of the article indicates that Longpan Technology (龙蟠科技) is experiencing a significant decline in stock price, dropping over 4% to HKD 11.59, with a trading volume of HKD 38.30 million [1] - The company has announced an expected net loss attributable to shareholders of approximately RMB 180 million to RMB 148 million for the fiscal year 2025, which represents a substantial reduction in losses compared to the previous year [1] - The expected net loss excluding non-recurring items for 2025 is projected to be between RMB 39.51 million and RMB 29.19 million [1] Group 2 - The company's lithium iron phosphate cathode material business is affected by fluctuations in the price of lithium carbonate, resulting in a low gross margin [1] - Additional factors impacting performance include inventory write-down losses, asset impairment, and significant non-recurring gains and losses due to changes in the fair value of financial liabilities such as minority shareholder buyback rights and convertible redeemable preferred shares [1]