Core Viewpoint - Guosheng Technology reported a significant decline in revenue and net profit for the first three quarters of 2025, indicating challenges in its business operations and a transition towards a technology-oriented enterprise [2]. Financial Performance - For the first three quarters of 2025, the company achieved operating revenue of 450 million yuan, a year-on-year decrease of 57.79% [2]. - The net profit attributable to shareholders was -150 million yuan [2]. - In the third quarter, the company reported operating revenue of 143 million yuan, a year-on-year decrease of 80.13% [2]. - The net profit for the third quarter was -54.71 million yuan [2]. Business Segments - Guosheng Technology operates in two core business segments: photovoltaic and landscaping [2]. - The photovoltaic segment has established a vertical ecological industrial chain from slicing to battery and module production [2]. - In June, a subsidiary signed a procurement contract worth 1.043 billion yuan with China General Nuclear Power Corporation for photovoltaic module equipment [2]. - The landscaping segment continues to leverage its integrated advantages in landscape design and engineering construction, focusing on ecological construction and planning design [2]. - The company is concentrating resources on businesses with faster cash return [2].