Core Viewpoint - The company expects a net profit for the fiscal year 2025 to be negative, projected between -60 million to -40 million yuan [1] Group 1: Financial Projections - The anticipated net profit for 2025 is expected to be in the range of -60 million to -40 million yuan [1] Group 2: Research and Development Investments - The company has significantly increased its R&D investments in specialized projects and terminal collaborations compared to the previous year [1] Group 3: Risk Management Strategies - To mitigate risks associated with raw material price fluctuations, the company has engaged in futures hedging and silver leasing activities [1] Group 4: Impact of Raw Material Prices - The report period saw a substantial increase in the prices of certain raw materials, leading to significant investment losses and fair value changes from the futures hedging and silver leasing activities [1]

Core Viewpoint - The company expects a net profit loss of 200 million to 300 million yuan for the year 2025, a significant decline from a profit of 360 million yuan in the same period last year, indicating a shift from profit to loss due to non-recurring gains and losses [1] Financial Performance - The company's net profit attributable to shareholders is impacted by non-recurring gains and losses, with an estimated effect of approximately -400 million to -500 million yuan [1] - The company incurred share-based payment expenses of about 120 million yuan due to the implementation of an equity incentive plan during the reporting period [1] Risk Management - To mitigate the risk of silver price fluctuations, the company has engaged in hedging operations through silver futures contracts and has also conducted silver leasing business [1] - The company reported significant fair value losses related to silver futures and leasing due to a rapid and substantial increase in silver prices during the reporting period [1] Business Development - The company has increased its investment and layout in the storage sector, achieving an integrated industrial layout through the acquisition of Jiangsu Jingkai, which includes chip application development, wafer testing, and chip packaging and testing [1] - The DRAM market has shown continuous improvement, with the storage chip business generating approximately 500 million yuan in revenue, reflecting significant year-on-year growth in both revenue scale and profitability, particularly achieving about 230 million yuan in revenue in the fourth quarter of the reporting period [1]