影响公司经营业绩的主要因素： 综上，报告期内公司期间费用特别是研发费用保持较高水平，并基于谨慎性原则计提了充分的资产减值 准备，预计 2025 年度利润亏损。2026 年公司将充分把握行业机遇，积极开拓市场，努力实现可持续发 展。 1、费用成本影响：报告期内公司稳步推进产品销售，主要产品的订单稳步增长。面对复杂多变的市场 环境，公司在行业新方向不断深化布局，坚持以"自主可控技术底座+全域场景赋能"为核心战略，维持 高强度研发投入，构建了涵盖核心器件(芯片)、基础技术(人工智能、智能无线通信)、系统装备(智能无 人装备)、行业应用的全链条技术矩阵。公司在技术研发和民品业务渠道建设上持续投入，同时，综合 毛利率受年度产品结构正常波动影响略有下降，导致成本费用维持在较高水平。此外公司开拓的新市场 未形成规模效应，综合导致公司利润承压。 格隆汇2月26日丨科思科技(688788.SH)公布2025年度业绩快报，报告期内，公司实现营业收入2.85亿 元，较上年同期增加4927.84万元，同比上升20.94%；归属于上市公司股东的净利润为-2.92亿元，较去 年同期减少2421.11万元，同比下降9.03%；公司基本每股 ...

Core Viewpoint - Company Kesi Technology (688788.SH) is forecasting a net loss for the year 2025, with expected losses ranging from 335 million to 270 million yuan, indicating an increase in losses compared to the previous year [1] Financial Performance - The projected net profit attributable to the parent company is expected to increase losses by 1.8264 million to 66.8264 million yuan year-on-year, representing a year-on-year increase in losses of 0.68% to 24.92% [1] - The anticipated operating revenue is expected to rise compared to the previous year, primarily due to steady growth in orders for key products [1] Industry Challenges - The company faces significant challenges due to ongoing industry adjustments and pressure on costs and expenses [1] - The comprehensive gross profit margin is expected to decline slightly due to normal fluctuations in product structure, rising costs, and the early-stage development of new markets and products, which have not yet achieved economies of scale [1] Strategic Focus - In 2025, the company aims to align with new industry trends, focusing on a core strategy of "self-controllable technology base + full-scenario empowerment" while maintaining high levels of R&D investment [1] - The company has developed a comprehensive technology matrix covering core components (chips), foundational technologies (artificial intelligence, smart wireless communication), system equipment (intelligent unmanned equipment), and industry applications [1] Business Development - The company is deeply integrating into the military-civilian collaborative development framework, expanding its military and civilian product businesses simultaneously [1] - There is a significant increase in investment in technological innovation and the construction of civilian product channels, which has raised period expenses [1]

Core Viewpoint - The company, Kosi Technology, anticipates a net loss for the year 2025, with estimates ranging from -335 million to -270 million yuan for net profit attributable to shareholders, and from -340 million to -275 million yuan for net profit after deducting non-recurring gains and losses [1] Group 1: Financial Performance - The expected loss in 2025 is primarily attributed to cost pressures despite a steady increase in revenue from major product orders [1] - The comprehensive gross profit margin is expected to decline slightly due to normal fluctuations in product structure and rising costs, compounded by the early-stage development of new markets and products [1] Group 2: Strategic Initiatives - The company is committed to a core strategy of "self-controllable technology base + full-scenario empowerment," maintaining high levels of R&D investment to build a comprehensive technology matrix covering core components (chips), foundational technologies (AI, smart wireless communication), system equipment (smart unmanned equipment), and industry applications [1] - The company is actively integrating into the military-civilian development framework, expanding its military and civilian product businesses, and increasing investment in technology innovation and civilian product channel development [1] Group 3: Asset Impairment - The company has faced longer sales collection cycles due to macroeconomic conditions and industry payment timelines, leading to significant provisions for bad debts on accounts receivable and notes receivable [1] - Adequate asset impairment provisions have been made for inventory, goodwill, and other assets based on thorough analysis and evaluation, impacting the current period's profit [1] Group 4: Future Outlook - The company aims to seize industry opportunities and actively explore markets to achieve sustainable development in 2026 [1]

Core Viewpoint - The company is focused on enhancing product competitiveness through increased investment in research and development, particularly in the areas of automation and intelligence [1] Group 1: R&D Focus - The company is concentrating on key areas such as intelligent unmanned equipment, smart wireless communication, and intelligent communication chips [1] - Continuous investment in various fields including computer and network technology, communication, software, cloud computing, virtual reality, artificial intelligence, smart decision-making, and chip design is emphasized [1] Group 2: Management Confidence - The management team expresses strong confidence in the company's future development and is committed to delivering positive operating results to reward investors' trust and support [1]