Ge Long Hui A P P·2026-01-30 13:34Core Viewpoint - ST Shuyuan (000909.SZ) is expected to report a net loss of 290 million to 390 million yuan for the year 2025, compared to a loss of 66.01 million yuan in the same period last year [1] Group 1: Financial Performance - The anticipated net loss for 2025 is between 290 million and 390 million yuan, with a previous year's loss of 66.01 million yuan [1] - The expected non-recurring net loss for 2025 is projected to be between 257 million and 357 million yuan, compared to a loss of 141.71 million yuan in the previous year [1] Group 2: Reasons for Performance Changes - The decline in revenue is attributed to the downturn in the real estate market, which has negatively impacted the company's intelligent engineering business [2] - Some of the company's equity investees have incurred significant losses due to the real estate market decline, leading to the recognition of related investment losses [2] - The company has conducted preliminary impairment tests on various assets, including long-term equity investments, non-current financial assets, receivables, and inventory, and has made provisions for impairment based on prudence [2]