RAYITEK(SH:688323) Xin Lang Cai Jing·2026-01-30 10:24Core Viewpoint - Ruihua Tai (688323.SH) is expected to report a net loss attributable to shareholders of the parent company for the fiscal year 2025, with losses projected between 80 million to 100 million yuan, representing an increase in losses compared to the previous year [1] Financial Performance - The net loss attributable to shareholders is expected to increase by 22.7251 million to 42.7251 million yuan year-on-year, reflecting a year-on-year increase of 39.68% to 74.60% [1] - The net loss after excluding non-recurring gains and losses is also projected to be between 80 million to 100 million yuan, with an increase in losses of 22.3718 million to 42.3718 million yuan compared to the previous year, indicating a year-on-year increase of 38.82% to 73.53% [1] Operational Challenges - The company faces challenges due to fluctuations in market demand for certain products and the production capacity ramp-up at its Jiaxing production base, which is still in the process of improving production efficiency [1] - The increase in depreciation and interest expenses related to the Jiaxing project, along with the costs associated with convertible bonds, has led to a rise in financial and management expenses year-on-year, contributing to the overall increase in losses [1] Revenue Outlook - Despite the anticipated losses, the company expects to achieve operating revenue between 380 million to 400 million yuan for 2025, which represents a year-on-year growth of 12.08% to 17.98% [1]