Core Viewpoint - Longzhou Co., Ltd. (002682) expects a net profit loss attributable to shareholders of 60 million to 72 million yuan for the period from January 1, 2025, to June 30, 2025, representing an increase in loss of 76.39% to 111.66% compared to the same period last year [1] Financial Performance - The net profit loss after deducting non-recurring gains and losses is projected to be between 74 million and 86 million yuan, reflecting an increase in loss of 71.96% to 99.84% year-on-year [1] - Basic earnings per share are expected to be a loss of 0.1 to 0.13 yuan per share [1] Business Segments - Revenue from the company's passenger transport and station service business, as well as the asphalt supply chain business, has decreased year-on-year, with a decline in gross profit margin compared to the previous year [1] - The wholly-owned subsidiary, Longyan Changfeng Special Automobile Co., Ltd., has seen an increase in order delivery volume, resulting in a year-on-year increase in revenue and an improvement in gross profit margin compared to the previous year [1] - The controlling subsidiary, Fujian Wuyi Transportation Co., Ltd., did not generate any disposal gains from joint ventures during the reporting period [1]

Core Insights - Longzhou Co., Ltd. has experienced significant fluctuations in its growth since its listing on June 12, 2012, with its market value increasing from 1.562 billion yuan to 2.739 billion yuan, but recent years show a marked decline in operational performance [1][3] Business Overview - Longzhou's main business segments include modern logistics (including asphalt supply chain), automobile manufacturing and sales, passenger transport and station services, and sales of refined oil and natural gas. The asphalt supply chain constitutes the largest revenue share at 63.37%, followed by automobile manufacturing and sales at 14.52% [3] Financial Performance - In 2012, the company achieved a net profit attributable to shareholders of 108 million yuan, but by the latest complete fiscal year of 2024, this figure had dropped to -348 million yuan, representing a cumulative profit decline of 421.72%. Over the 13 years since its listing, the company has recorded losses in 4 years, with profit growth occurring in 6 years, accounting for 46.15% of the time [3][4] Revenue Trends - Revenue has shown a declining trend, with Longzhou Co. reporting 3.600 billion yuan in revenue in 2020, which decreased to 3.001 billion yuan in 2024. This indicates a volatile downward trajectory in revenue scale [4] Profitability Analysis - The company reported a net loss of 923 million yuan in 2020, which improved to a loss of 348 million yuan in 2024. Despite the narrowing of losses, the company remains in a loss-making position [4] Market Value Fluctuation - Longzhou Co. reached its peak market value of 9.739 billion yuan on June 16, 2015, with a stock price of 46.82 yuan. As of June 11, the stock price had fallen to 4.87 yuan, resulting in a market value of 2.739 billion yuan, a decrease of 7 billion yuan, or 71.88% from its peak [6]