江特电机(002176.SZ)：预计2025年亏损3.1亿元-3.7亿元

Core Viewpoint - Jiangte Motor (002176.SZ) is expected to incur a loss of 310 million to 370 million yuan in 2025, compared to a loss of 319.1851 million yuan in the same period last year, indicating ongoing financial challenges for the company [1] Financial Performance - The company anticipates a non-recurring loss of 220 million to 280 million yuan for the reporting period [1] - The core lithium mine, Qikeng, has not yet commenced mining operations, leading to reliance on externally sourced lithium ore [1] Market Impact - The procurement prices of lithium ore are closely tied to the lithium salt market prices, which have been affected by market conditions, resulting in a decline in gross profit for the company's lithium salt products [1] - The company's lithium salt business is influenced by fluctuations in the lithium carbonate market, with increased losses from changes in the fair value of embedded derivative financial instruments due to market price volatility [1]