Core Viewpoint - Guoxing Optoelectronics (002449.SZ) reported a significant decline in performance for the first nine months of 2025, prompting inquiries from the Shenzhen Stock Exchange regarding the company's accounting practices and ongoing business challenges [1] Financial Performance - For the period of January to September 2025, the company's net profit was 31.11 million yuan, a year-on-year decrease of 55.27% [1] - The operating revenue for the same period was 2,499.77 million yuan, reflecting a year-on-year decline of 7.01% [1] Product Performance - Revenue from small-pitch LED products continued to decline, with sales amounting to 96.39 million yuan and a gross margin of -30.37% for January to September 2025 [1] - The gross margin for TOP white light products improved to 12.79% in the first nine months of 2025, up from 0.51% in 2024 [1] Trade and Accounting Practices - Revenue from trade and application products reached 429.72 million yuan, with a gross margin of 0.66% [1] - The company employs different accounting methods for its trade business, using the gross method for export trade and the net method for domestic copper strip trade [1] - The top five customers accounted for 17.74% of the trade business revenue, with ELEMENTS INTERNATIONAL GROUP LIMITED being the largest customer, generating sales of daily necessities worth 22.84 million yuan [1]