Group 1 - The company forecasts a net profit attributable to shareholders of the parent company for 2025 to be between -100 million and -120 million yuan, representing a year-on-year decrease of 53.29% to 83.95% [2] - The net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, is expected to be between -105 million and -125 million yuan, a year-on-year decrease of 46.45% to 74.34% [2] - The previous year's net profit attributable to shareholders of the parent company was -65.24 million yuan [4] Group 2 - The decline in net profit is primarily due to a decrease in operating income, attributed to intensified domestic market competition affecting the sales volume and price of IoT smart gas meters [6] - The gross profit margin has decreased due to lower sales volume of IoT smart gas meters and low production capacity utilization, leading to higher fixed costs [6] - High expenses related to R&D investments and personnel costs in the company's strategic layout across three business segments have also impacted net profit [6]

Group 1 - The company, Chengdu Qinchuan Internet of Things Technology Co., Ltd., anticipates a net loss attributable to shareholders of the parent company for the year 2025, estimated between -100 million to -120 million yuan, representing a year-on-year decrease of 53.29% to 83.95% [3] - The net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, is expected to be between -105 million to -125 million yuan, reflecting a year-on-year decline of 46.45% to 74.34% [3] - The performance forecast period is from January 1, 2025, to December 31, 2025 [2] Group 2 - In the previous year, the total profit was -87.99 million yuan, with a net profit attributable to shareholders of the parent company at -65.24 million yuan, and a net profit excluding non-recurring gains and losses at -71.70 million yuan [5] - The earnings per share for the previous year were -0.41 yuan per share [6] Group 3 - The primary reasons for the expected loss include a decline in operating income due to intensified domestic market competition affecting the sales and prices of smart gas meters, although revenue from overseas markets and smart sensor segments has increased [7] - The gross profit margin is expected to decline due to lower sales volumes and high fixed costs, including depreciation and labor, resulting from low capacity utilization across business segments [7] - High expenditure levels are attributed to significant R&D investments to maintain technological leadership and product innovation, alongside elevated personnel and operational costs across the company's three business segments [7]

Core Viewpoint - Qin Chuan IoT (688528.SH) expects a significant decline in net profit attributable to shareholders for the year 2025, projecting a loss between 100 million to 120 million yuan, representing a year-on-year decrease of 53.29% to 83.95% [1] Group 1: Financial Performance - The company anticipates a net profit loss of 100 million to 120 million yuan for 2025, compared to the previous year [1] - The expected decline in net profit is between 53.29% and 83.95% year-on-year [1] Group 2: Market Conditions - The domestic market for IoT smart gas meters is facing intensified competition, leading to a decrease in both sales volume and selling price [1] - Revenue from the overseas market and the smart sensor segment has increased during the reporting period, although these businesses are still in a critical market development phase [1] - The low initial base and long customer onboarding cycle have prevented these segments from achieving scale effects during the reporting period [1]

Core Viewpoint - Qin Chuan IoT (688528.SH) expects a significant decline in net profit attributable to shareholders for the year 2025, projecting a loss between 100 million to 120 million yuan, representing a year-on-year decrease of 53.29% to 83.95% [1] Group 1: Financial Performance - The company anticipates a net profit loss of 100 million to 120 million yuan for 2025, compared to the previous year [1] - This projected loss indicates a substantial year-on-year decline of 53.29% to 83.95% [1] Group 2: Market Conditions - The domestic market for IoT smart gas meters is facing intensified competition, leading to a decrease in both sales volume and selling price [1] - Despite challenges in the domestic market, revenue from the overseas gas meter market and the smart sensor segment has seen growth during the reporting period [1] - The related businesses are in a critical stage of market development, with low initial bases and long customer onboarding cycles, resulting in no significant scale effects during the reporting period [1]

Group 1 - The company Qin Chuan IoT expects a net profit attributable to shareholders of the parent company to decline to between -100 million to -120 million yuan in 2025, representing a year-on-year decrease of 53.29% to 83.95% [1] - The primary reason for the performance change is intensified domestic market competition affecting the sales volume and unit price of the company's IoT smart gas meters [1] - Revenue from the overseas gas meter market and the smart sensor segment has increased during the reporting period, but these businesses are still in a key market development phase with low initial bases and long customer onboarding cycles, resulting in no scale effect yet [1] Group 2 - The decline in sales of IoT smart gas meters, combined with low production and sales volumes of smart sensors, has led to low capacity utilization across the company's business segments [1] - High fixed costs such as depreciation, amortization, and labor have resulted in elevated unit costs for the company's products, while intensified market competition has caused a drop in sales prices, collectively leading to a decrease in gross margin [1]

人民财讯1月14日电，秦川物联(688528)1月14日公告，预计2025年度实现归属于母公司所有者的净利润 亏损1亿元—1.2亿元，上年同期亏损6523.65万元。 报告期内，公司物联网智能燃气表受国内市场竞争加剧影响，销量及销售单价下滑。燃气表海外市场和 智能传感器板块的收入在报告期内有所增长，相关业务处于市场开拓的关键阶段，前期基数较低且客户 导入周期较长，报告期内尚未形成规模效应。 ...

Group 1 - The core viewpoint of the news is that Qin Chuan IoT has shown a slight increase in stock price, reaching 10.88 CNY per share, with a total market capitalization of 1.828 billion CNY as of December 30 [1] - The company specializes in the research, manufacturing, sales, and services of smart gas meters, integrating core technologies such as precise measurement, intelligent control, data communication, and information security [1] - The revenue composition of the company includes 61.56% from IoT smart gas meters, 17.62% from smart sensors and related components, and smaller contributions from other products [1] Group 2 - CITIC Prudential Fund's multi-strategy mixed fund (LOF) A has entered the top ten circulating shareholders of Qin Chuan IoT, holding 742,000 shares, which is 0.44% of the circulating shares [2] - The fund has achieved a year-to-date return of 45.61% and ranks 1506 out of 8087 in its category [2] - The fund manager, Wang Ying, has a tenure of 8 years and 320 days, with the fund's total asset size at 4.904 billion CNY [3]

Group 1 - The core business of Qin Chuan IoT includes the research, manufacturing, sales, and service of smart gas meters, integrating core technologies such as precise measurement, intelligent control, data communication, and information security with precision instrument manufacturing [2] - The revenue composition of Qin Chuan IoT is as follows: IoT smart gas meters 61.56%, smart sensors and related components 17.62%, membrane gas meters 11.49%, others 3.88%, IC card smart gas meters 2.12%, industrial and commercial gas meters 1.54%, household combustible gas detectors 1.46%, and IoT smart water meters 0.34% [2] - As of September 30, 2025, Qin Chuan IoT reported a revenue of 219 million yuan, a year-on-year decrease of 16.24%, and a net profit attributable to shareholders of -69.89 million yuan, a year-on-year decrease of 66.72% [2] Group 2 - Since its A-share listing, Qin Chuan IoT has distributed a total of 35.28 million yuan in dividends, with no dividends distributed in the past three years [3] - As of September 30, 2025, the number of shareholders of Qin Chuan IoT increased by 7.01% to 6,303, while the average circulating shares per person decreased by 6.55% to 26,653 shares [2] - Among the top ten circulating shareholders, CITIC Prudential Multi-Strategy Mixed Fund (LOF) A is the sixth largest shareholder with 742,000 shares, marking its entry as a new shareholder [3]

Core Viewpoint - Qin Chuan IoT experienced a decline of 5.08% on November 19, with a stock price of 11.59 CNY per share and a total market capitalization of 1.947 billion CNY [1] Company Overview - Chengdu Qin Chuan Internet of Things Technology Co., Ltd. was established on December 30, 2001, and went public on July 1, 2020. The company specializes in the research, development, manufacturing, sales, and service of smart gas meters [1] - The main business revenue composition includes: IoT smart gas meters (61.56%), smart sensors and related components (17.62%), membrane gas meters (11.49%), and other products [1] Shareholder Information - CITIC Prudential Fund's multi-strategy mixed fund (LOF) A (165531) entered the top ten circulating shareholders of Qin Chuan IoT in the third quarter, holding 742,000 shares, which is 0.44% of the circulating shares [2] - The fund has a total scale of 1.133 billion CNY and has achieved a return of 49.61% this year, ranking 813 out of 8138 in its category [2] Fund Manager Details - The fund manager of CITIC Prudential multi-strategy mixed fund (LOF) A is Wang Ying, who has been in the position for 8 years and 279 days, managing assets totaling 4.904 billion CNY [3] - During Wang Ying's tenure, the best fund return was 52.85%, while the worst was -8.42% [3]

Core Viewpoint - Qin Chuan IoT's stock price has experienced fluctuations, with a year-to-date increase of 39.66%, but a recent decline in trading performance, indicating potential volatility in investor sentiment [2][3]. Company Overview - Qin Chuan IoT, established on December 30, 2001, and listed on July 1, 2020, is located in Chengdu, Sichuan Province. The company specializes in the research, manufacturing, sales, and service of smart gas meters, integrating core technologies such as precise measurement, smart control, data communication, and information security [2]. - The company's revenue composition includes: IoT smart gas meters (61.56%), smart sensors and related components (17.62%), membrane gas meters (11.49%), and other products [2]. Financial Performance - For the period from January to September 2025, Qin Chuan IoT reported revenue of 219 million yuan, a year-on-year decrease of 16.24%. The net profit attributable to shareholders was -69.89 million yuan, reflecting a significant decline of 66.72% year-on-year [3]. - As of September 30, 2025, the company had 6,303 shareholders, an increase of 7.01% from the previous period, while the average circulating shares per person decreased by 6.55% [3]. Market Activity - On October 29, 2025, Qin Chuan IoT's stock price fell by 2.00%, trading at 12.22 yuan per share, with a total market capitalization of 2.053 billion yuan. The net outflow of main funds was 246,200 yuan, with no large purchases recorded [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent appearance on July 9, 2025, where it recorded a net buy of -614,700 yuan [2]. Shareholder Information - Since its A-share listing, Qin Chuan IoT has distributed a total of 35.28 million yuan in dividends, with no dividends paid in the last three years [4]. - As of September 30, 2025, the sixth largest circulating shareholder is CITIC Prudential Multi-Strategy Mixed Fund (LOF) A, holding 742,000 shares as a new shareholder [4].