皖通科技2025年业绩预亏，公司治理层调整与财务授权引关注

Core Viewpoint - Anhui Wantong Technology Co., Ltd. is facing significant operational challenges, including a projected net loss for 2025, governance changes, and financial adjustments that may impact its future strategy and performance [2][3][4]. Group 1: Performance Overview - The company expects a net loss attributable to shareholders of between 218 million yuan and 368 million yuan for the year 2025, a shift from a profit of 36.92 million yuan in the previous year [2]. - The decline in profitability is attributed to intensified industry competition leading to decreased gross margins, stock incentive expense amortization of approximately 46.11 million yuan, and goodwill impairment provision of 98.41 million yuan related to the acquisition of Huadong Lisheng [2]. Group 2: Governance Structure - On December 31, 2025, the company held its first meeting of the seventh board of directors, electing Chen Xiangwei as chairman and appointing him as general manager, along with key positions such as board secretary and financial officer [3]. - This governance change may influence the company's strategic direction, necessitating close attention to the new management's business plans [3]. Group 3: Financial Activities - The board approved two financial resolutions: adjusting the foreign exchange hedging limit for its wholly-owned subsidiary Yantai Huadong Software Technology Co., Ltd. to a maximum contract value of 90 million yuan per trading day for a period of 12 months, and authorizing the use of up to 500 million yuan of idle funds for cash management in principal-protected financial products [4]. - These measures aim to optimize the efficiency of fund utilization, although the effectiveness of risk control will require ongoing monitoring [4]. Group 4: Stock Performance - On February 6, 2026, the company's stock closed at 9.44 yuan, with a daily increase of 2.05% and a net inflow of 2.31 million yuan from major funds, resulting in a turnover rate of 1.13% [5]. - Short-term fluctuations in fund flow may be influenced by market sentiment or sector rotation, but the company's fundamentals continue to face challenges due to losses [5]. Group 5: Future Development - The key focus areas include the earnings forecast and governance adjustments, with the company currently in a loss position and facing significant goodwill impairment issues [6]. - Important upcoming events include the formal release of the 2025 annual report and potential updates on shareholder reductions or business dynamics [6].