Core Viewpoint - Shida Shenghua (SH603026) is expected to report a net loss for the first three quarters of 2025, marking a significant decline in profitability compared to previous years, primarily due to intense market competition and falling product prices [1][1]. Financial Performance - The company anticipates a net profit of between -49 million to -70 million yuan for the first three quarters of 2025, indicating a year-on-year shift to loss [1]. - Shida Shenghua's net profit has decreased for three consecutive years, with figures of 1.178 billion yuan in 2021, 891 million yuan in 2022, 19 million yuan in 2023, and 16 million yuan in 2024 [1][1]. Market Conditions - The primary reason for the expected loss is the fierce market competition, which has led to a year-on-year decline in the prices of some products [1]. - To combat industry competition, the company has increased its market investment and R&D efforts, resulting in a rise in period expenses and a decrease in operating profit [1]. Capital Raising Efforts - Shida Shenghua's journey in capital raising has faced significant challenges, with its initial plan to raise 4.5 billion yuan in 2022 being drastically reduced to 1 billion yuan due to project scale shrinkage and repeated extensions of the fundraising decision's validity over three years [1][1]. Strategic Recommendations - The company needs to implement effective measures to address current challenges, including optimizing product structure, enhancing product added value, and improving market competitiveness [1]. - Additionally, there is a need for stronger cost control and optimization of production processes to reduce production costs [1].