Group 1 - The company expects a net loss of between 190 million to 227 million yuan for the first half of 2025, with a non-recurring net loss between 190 million to 232 million yuan [1] - The company's power business has been significantly impacted by being blacklisted by the State Grid Corporation of China for two years and facing a 15-month market ban from the Southern Power Grid [1] - The company's revenue is highly dependent on policies and investment plans set by the State Grid and Southern Power Grid, leading to a substantial decline in order volume [1] Group 2 - In the first quarter of 2025, the company reported revenue of 227 million yuan, a year-on-year decrease of 51.5%, and a net loss of 139 million yuan, further widening the loss compared to the previous year [2] - The company acknowledges that the recovery of bidding qualifications from the Southern Power Grid will have a lagging effect on order support, and the risk of declining revenue will not ease in the short term [2] - The company has faced multiple investor lawsuits, with a total compensation amounting to 32,800 yuan as of the announcement date, excluding litigation fees [2]