Hillstone Networks(SH:688030) Ge Long Hui A P P·2026-02-27 11:29Core Viewpoint - The company reported a decline in revenue and an increase in net loss for the fiscal year 2025, highlighting challenges in the industry due to weak demand and intensified competition [1] Financial Performance - The company achieved an operating revenue of 911 million yuan, a decrease of 8.55% compared to the previous year [1] - The net profit attributable to the parent company was -192 million yuan, representing a 40.07% increase in losses year-over-year [1] - The net profit attributable to the parent company, excluding non-recurring gains and losses, was -196 million yuan, with a 29.70% increase in losses compared to the previous year [1] Technological Advancements - The company made significant breakthroughs in core technology research and development, successfully developing ASIC security-specific chips [1] - New products related to these advancements have begun to win bids or be shortlisted in various projects across multiple industries at the beginning of 2026, laying a solid technical and market foundation for future performance recovery [1] Operational Strategy - The company is committed to the operational strategy of "controlling costs and increasing efficiency for healthy development," focusing on cost and expense management [1] - Resources are being concentrated on key products, strategic industries, and important regions to enhance the input-output ratio [1] - The company is deepening external collaboration, with opportunities from the channel ecosystem contributing to resource synergy effects [1] Market Challenges - The company's 2025 operating performance is facing temporary pressure due to multiple factors, including overall weak industry demand, intensified market competition, fluctuations in hardware costs, and ongoing investments in core technology research and development [1]