Core Viewpoint - The company, Lianyu Co., Ltd., is forecasting a significant decline in net profit for the year 2025, with estimates showing a decrease of 70.65% to 77.42% compared to the previous year [1] Financial Performance - The projected net profit attributable to shareholders for 2025 is estimated to be between 22.8792 million and 29.7429 million yuan [1] - The net profit after deducting non-recurring gains and losses is expected to range from 19.7958 million to 26.6595 million yuan [1] Reasons for Profit Decline - The primary reasons for the anticipated decrease in net profit include: - Impact from U.S. tariff policies and trade frictions, leading to increased supply chain costs as the company expands its overseas production bases [1] - A decline in gross profit margins for main products due to intensified industry competition [1] - The Zhongshan production base, which is set to be operational in 2024, has not yet achieved optimal scale effects, resulting in higher fixed costs per product due to significant new fixed asset investments [1] - Increased operating expenses from hiring top talent, enhancing R&D, and improving production automation, as well as investments in new sectors like charging stations and energy storage [1]