迅捷兴：2025年全年预计净亏损1800万元—2600万元

Core Viewpoint - The company, XunJieXing, is forecasting a significant net loss for the year 2025, attributed to high costs during the capacity ramp-up phase and increased impairment losses despite revenue growth from various sectors [1] Group 1: Financial Forecast - The expected net profit attributable to shareholders for 2025 is projected to be between -26 million and -18 million yuan [1] - The net profit after deducting non-recurring gains and losses is anticipated to be between -30 million and -22 million yuan [1] Group 2: Revenue and Cost Dynamics - The company is experiencing rapid revenue growth due to expansion in sectors such as security, communication, and industrial control [1] - However, the increase in revenue has led to a rise in accounts receivable, resulting in a year-on-year increase in credit impairment losses [1] Group 3: Capacity Ramp-Up Challenges - The Zhuhai XunJieXing Phase I project has commenced production, aiming to release a capacity of 60,000 square meters per month, which significantly enhances production capabilities [1] - Initial production at the new factory has resulted in a substantial increase in fixed costs, including labor and equipment depreciation, contributing to the company's losses [1] - The XinFeng base is still in the capacity ramp-up phase, with high fixed costs not yet diluted, compounded by rising raw material prices in the PCB industry, leading to increased product unit costs and further impairment losses [1]