誉辰智能(688638.SH)：2025年预亏1.35亿元至1.65亿元

Core Viewpoint - Yuchen Intelligent (688638.SH) is expected to report an increased loss for the fiscal year 2025, with a projected net profit attributable to the parent company ranging from -165 million to -135 million yuan [1] Financial Performance - The net profit attributable to the parent company, excluding non-recurring gains and losses, is anticipated to be between -171 million and -141 million yuan [1] Reasons for Performance Change - The main reasons for the performance change include: - Low gross margin on equipment accepted during the reporting period [1] - Significant increase in sales orders leading to higher sales expenses [1] - Expansion of production scale due to the commissioning of the Zhongshan production base, resulting in increased management costs such as salaries, depreciation, and operational maintenance [1] - Increased R&D investment to maintain competitiveness, contributing to higher R&D expenses [1]