天马科技：2025年全年预计净亏损1.20亿元—1.80亿元

Core Viewpoint - Tianma Technology has announced an annual performance forecast indicating a significant expected net loss for 2025, primarily due to macroeconomic fluctuations, industry cyclical adjustments, and intensified market competition [1] Financial Performance - The company anticipates a net profit attributable to shareholders of between -120 million to -180 million yuan for 2025, with a non-recurring profit forecast of -140 million to -200 million yuan [1] - This represents a substantial decline compared to the previous year's profit of 26.03 million yuan [1] Industry Context - The eel industry is currently experiencing a downturn, influenced by an increase in supply expectations due to a bumper harvest of eel fry in Japan, leading to a downward trend in sales prices for live and grilled eel [1] - The company is facing losses in both the farming and grilled eel food sectors due to these market conditions [1] Operational Challenges - Despite maintaining a steady output of live eels and grilled eel product sales, the company is under pressure from declining product prices and rising production costs [1] - The feed segment is also experiencing reduced gross margins due to market structural adjustments and increasing competition [1] - Additional factors contributing to the expected losses include increased operating expenses and provisions for asset impairment [1]