Core Viewpoint - The company, Kailda (688255.SH), anticipates a significant decline in net profit for the first three quarters of 2025 compared to the previous year, while expecting a recovery in the third quarter of 2025. Financial Performance Summary - The estimated net profit attributable to shareholders for the first three quarters of 2025 is projected to be between 12.24 million and 13.26 million, representing a decrease of 17.02 million to 16.00 million compared to the same period last year, which translates to a year-on-year decline of 58.17% to 54.68% [1] - For the third quarter of 2025, the expected net profit attributable to shareholders is estimated to be between 9.97 million and 10.80 million, indicating an increase of 4.22 million to 5.05 million compared to the same period last year, with a year-on-year growth of 73.25% to 87.69% [1] - The projected net profit excluding non-recurring gains and losses for the first three quarters of 2025 is expected to be between 5.78 million and 6.80 million, reflecting a decrease of 15.97 million to 14.95 million year-on-year, which corresponds to a decline of 73.44% to 68.75% [1] - For the third quarter of 2025, the estimated net profit excluding non-recurring gains and losses is projected to be between 8.61 million and 9.44 million, showing an increase of 5.58 million to 6.41 million compared to the same period last year, with a year-on-year rise of 184.66% to 212.14% [1] Investment and Market Strategy - In the first nine months of 2025, the company has increased investments to enhance product competitiveness, leading to significant year-on-year growth in research and development expenses and management expenses [2] - Factors such as increased share-based payment expenses, inventory impairment provisions, and a decline in interest income have notably impacted the net profit for the first three quarters of 2025 [2] - The company expects a recovery in performance in the third quarter of 2025 due to improved product competitiveness and a relative rebound in downstream market demand [2]

Core Viewpoint - The company expects a significant decline in net profit for the first three quarters of 2025, with estimates ranging from 12.24 million to 13.26 million yuan, representing a year-on-year decrease of 58.17% to 54.68% [1] Financial Performance - The estimated net profit for the third quarter of 2025 is projected to be between 9.97 million and 10.80 million yuan, showing a year-on-year increase of 73.25% to 87.69% [1] - The increase in research and management expenses, along with higher share-based payment costs and inventory impairment provisions, negatively impacted the net profit for the first three quarters of 2025 [1] Market Dynamics - The company has been increasing its investment to enhance product competitiveness, which has led to a significant rise in R&D and management expenses compared to the previous year [1] - The recovery in performance for the third quarter of 2025 is attributed to improved product competitiveness and a relative rebound in downstream market demand [1]