Group 1 - The company Zhejiang Shuaifeng Electric Co., Ltd. forecasts a net profit attributable to shareholders of 2.3 million to 3.4 million yuan for the first half of 2025, representing a year-on-year decline of 91.54% to 94.28% [2] - The company expects a net loss of 3.9 million to 5.8 million yuan after excluding non-recurring gains and losses, marking a significant decline of 112.14% to 118.05% compared to the previous year [2] - This marks the seventh consecutive quarter of declining performance for the company, with the loss magnitude further expanding [2] Group 2 - The company attributes the performance decline primarily to its main business, citing a slowdown in overall market demand for integrated stoves and intensified industry competition, leading to a decrease in sales volume and orders compared to the same period last year [4] - Changes in consumer structure and a cautious overall consumption tendency have resulted in a decline in product prices, further impacting profitability [4] - Despite efforts to expand into new product categories such as integrated cooking centers and integrated washing products, the weakening revenue scale has led to an increase in expense ratios, ultimately causing a decline in net profit compared to the previous year [4] Group 3 - Industry analyst Liu Bucheng noted that kitchen appliances, particularly integrated stoves, are closely tied to the real estate market, making them vulnerable to its downturn [4] - Another leading company in the integrated stove sector, Zhejiang Meiyu, has also forecasted a net profit decline of 84.11% to 88.21%, indicating a significant downturn in the industry [4] - The combined net profit of the two leading companies for the half-year is expected to be less than 20 million yuan, representing a dramatic drop from the peak period in 2021 [4] - The core issue facing Shuaifeng Electric is that the decline in its existing business is outpacing the growth of new business ventures, with its wooden cabinet business only achieving a 19.09% growth in 2024 but with a low gross margin of 17.58%, insufficient to offset the downturn in its main integrated stove business [4]