盛视科技：公司2025年业绩变动原因

Core Viewpoint - The company anticipates significant impacts on its 2025 performance due to various factors including delayed project payments, strategic business expansion, increased stock payment expenses, and higher R&D investments [1] Group 1: Performance Influences - The delay in project payments due to settlement cycles will require the company to recognize asset impairment provisions, significantly affecting net profit for the period [1] - The expansion into strategic new businesses has led to a decrease in overall gross margin [1] - The implementation of the 2024 restricted stock incentive plan in 2025 has resulted in an increase in recognized share-based payment expenses compared to the previous year [1] - Increased investment in new business R&D has led to higher R&D expenses [1] Group 2: Accounts Receivable Management - The company is intensifying efforts to collect accounts receivable [1] - The primary customers are government units and state-owned enterprises, which have high creditworthiness and low collection risk [1] - If the company successfully collects outstanding receivables, it can reverse previous impairment provisions, thereby increasing current profits [1]