Core Viewpoint - Beiwai Technology has released its annual performance forecast, expecting a net profit attributable to shareholders of -8 million to -4 million yuan for 2025, and a net profit excluding non-recurring gains and losses of -19 million to -12 million yuan for the same year [1] Group 1: Financial Performance - The company anticipates a steady growth in operating revenue from its IoT business while facing a net profit loss due to increased marketing expenditures in both the consumer IoT and mobile gaming sectors [1] - The marketing expenses incurred during the period are recognized as one-time costs, while the corresponding user revenue is deferred over the service period, leading to a mismatch between current investments and returns [1] Group 2: Cost and Revenue Challenges - The increase in resource procurement costs for the IoT business, influenced by adjustments in operator policies, has resulted in a decline in gross margin [1] - The competitive landscape in the office rental market where Beiwai International Center operates has intensified, leading to a year-on-year decrease in average rental levels [1] - The yield on bank wealth management products has decreased year-on-year, impacting non-recurring gains and losses [1]