Core Viewpoint - Tianwei Vision (002238.SZ) expects a significant loss in 2025, with projected losses ranging from 160 million to 220 million yuan, primarily due to market changes and increased competition in the data center sector [1] Financial Projections - The company forecasts a total operating revenue between 1.15 billion and 1.45 billion yuan for 2025 [1] - Expected net profit attributable to shareholders is projected to be a loss, with non-recurring losses estimated between 184 million and 244 million yuan [1] Reasons for Projected Losses - The decline in rental prices for general data center cabinets in the Guangzhou and Shenzhen areas, despite efforts from the sales team, has led to underperformance in sales from key data centers [1] - Traditional revenue streams, such as cable television and broadband services, have seen a decrease due to changes in consumer habits and market conditions [1] - The company plans to recognize impairment losses on certain assets based on cautious accounting principles, influenced by reduced government subsidies compared to the previous year [1]

Core Viewpoint - Tianwei Vision is expected to report a net loss attributable to shareholders of the listed company ranging from 160 million to 220 million yuan for the year 2025, with a net loss excluding non-recurring gains and losses estimated between 184 million and 244 million yuan [1] Group 1: Financial Performance - The company anticipates a total profit loss, net profit attributable to shareholders, and net profit excluding non-recurring gains and losses primarily due to market environment changes and intensified industry competition [1] - The rental prices for general data center cabinets in the Guangzhou-Shenzhen area continue to decline, impacting revenue despite efforts from the company's market team [1] Group 2: Asset Impairment - The company plans to recognize asset impairment for three data centers: Shenshan Weishi Data Center (Phase I), Nanshan, and Longhua, based on the principle of prudence as per the Accounting Standards for Enterprises [1] - The actual amount of asset impairment will be determined by the evaluation report from the assessment agency and the audit data from the accounting firm [1] Group 3: Revenue Decline - Traditional cable television and broadband business revenues have decreased due to changes in user consumption habits and market conditions [1] - The company has also made provisions for impairment of contract assets, along with a reduction in government subsidies related to revenue compared to the same period last year [1]