*ST四通：2025年全年预计净亏损6,600万元—8,400万元

Core Viewpoint - *ST Sitong is expected to report a net loss attributable to shareholders of the listed company ranging from -84 million to -66 million yuan for the year 2025, with a net profit excluding non-recurring gains and losses projected between -92 million and -73 million yuan [1] Group 1: Financial Performance - The primary reason for the expected loss is the insufficient market demand for the company's products due to ongoing international geopolitical conflicts and changes in the market environment [1] - The export revenue from the ceramic business has declined, compounded by a reduction in export tax rebate rates, leading to a decrease in both gross profit and gross margin [1] - The intensified competition in the domestic industry has resulted in continuous pressure on product prices, further exacerbating the company's overall operating losses [1] Group 2: Revenue and Costs - The inclusion of Dalian Yiwei New Materials Co., Ltd.'s full-year operating results in the consolidated financial statements is expected to increase the company's operating revenue by approximately 140 million yuan [1] - However, high raw material procurement costs and continuously declining product sales prices have led to a significant loss due to a mismatch between sales prices and costs [1] Group 3: Currency and Asset Impairment - The company's export business is primarily settled in US dollars, and fluctuations in exchange rates have resulted in increased foreign exchange losses [1] - Based on a cautious analysis of the current market competition landscape and future development trends, there are indications of asset impairment, leading to an increase in the provision for asset impairment losses, particularly concerning fixed assets and inventory [1]