锐奇股份：预计2025年亏损4654.04万元-6237.37万元

Core Viewpoint - The company, Ruiqi Co., Ltd. (300126), has announced a significant expected loss for the year 2025, projecting a net loss attributable to shareholders between 46.54 million and 62.37 million yuan, compared to a loss of 19.26 million yuan in the same period last year [4]. Financial Performance - The expected net profit loss for 2025 is between 46.54 million yuan and 62.37 million yuan, with a previous year's loss of 19.26 million yuan [4]. - The expected non-recurring net profit loss ranges from 65.74 million yuan to 81.57 million yuan, compared to a loss of 40.88 million yuan in the previous year [4]. - The company's price-to-book ratio (LF) is approximately 2.59 times, and the price-to-sales ratio (TTM) is about 5.76 times based on the latest closing price [4]. Reasons for Performance Change - The significant changes in operating performance are primarily attributed to rising raw material prices, increased operating costs, and higher expenses, leading to a decline in overall gross profit margin [12]. - The impact of non-recurring gains and losses on net profit is approximately 19.19 million yuan, compared to 21.62 million yuan in the previous year [12]. Historical Financial Trends - Historical data indicates a trend of increasing losses over the years, with the projected net profit and non-recurring net profit for 2025 showing a continued decline [14]. - The year-on-year growth rates for net profit and non-recurring net profit have shown significant negative changes, indicating a challenging financial environment for the company [14].