Core Viewpoint - The company is experiencing a significant decline in net profit while simultaneously securing major contracts and expanding its international market presence [1][2]. Financial Performance - The company expects a net profit attributable to shareholders for 2025 to be between 60 million to 75 million yuan, representing a year-on-year decrease of 62.15% to 69.72% [2]. - The decline in performance is primarily due to slower order delivery progress, a decrease in product sales prices leading to lower gross margins, and increased expenses related to overseas market expansion [2]. - For the first nine months of 2025, the company's operating revenue decreased by 29.01%, and net profit attributable to shareholders fell by 52.81% [3]. Contract Developments - In September 2025, the company won a procurement project for metering equipment from the State Grid valued at 107 million yuan and was pre-awarded a framework bidding project from the Southern Power Grid worth 161 million yuan, together accounting for 26.45% of the expected revenue for 2024 [4]. Business Expansion - In January 2026, the company established a wholly-owned subsidiary in Singapore and invested 10 million Brazilian reais to expand its business in Brazil, aiming to enhance its international market presence [5]. Institutional Holdings - As of September 30, 2025, the GF Multi-Factor Mixed Fund became the eighth largest circulating shareholder, holding 1.9291 million shares, while the number of shareholders decreased by 3.95%, indicating an increase in share concentration [6].
友讯达2025年业绩预降，中标电网项目拓展海外市场