Core Viewpoint - The company, Lude Technology (688156.SH), anticipates a net loss of approximately 63 million yuan attributable to shareholders for the fiscal year 2025, despite ongoing efforts to optimize product and customer structure, expand sales channels, and enhance cost efficiency [1] Group 1: Financial Performance - The expected net profit for 2025 is projected to be around -63 million yuan [1] - The company is experiencing a decline in gross margin for its liquor lees bio-fermented feed business compared to the same period last year due to high fixed cost amortization pressures [1] Group 2: Business Operations - The company is focusing on improving production efficiency at its new bio-fermented feed plants, which have shown steady growth in capacity, sales, and revenue [1] - Sales volume for bio-fermented feed is expected to increase by over 50% year-on-year in 2025 [1] - Three new plants that commenced production in Q4 2024 are ramping up well, with two plants achieving product line profitability starting September 2025 [1]