Core Viewpoint - The company expects to continue incurring losses in 2025, with projected net profit attributable to shareholders ranging from -120 million to -150 million yuan, compared to -244.23 million yuan in the previous year [1] Financial Performance - The anticipated net profit after deducting non-recurring gains and losses for 2025 is projected to be between -340 million and -370 million yuan [1] - The company’s German subsidiary, DA Company, is experiencing a decline in sales revenue of high-margin products, insufficient capacity utilization, and increased manufacturing costs, leading to a significant drop in gross margin [1] Operational Challenges - The downturn in the European automotive manufacturing and leather processing markets, along with high energy and raw material prices, has contributed to the ongoing operational difficulties faced by DA Company [1] - To address insufficient orders, DA Company is actively restructuring its workforce and production, resulting in increased severance and integration costs [1] Business Segments - The general aviation aircraft manufacturing business of SGIA Company remains in a recovery phase and has yet to achieve profitability [1] - Although domestic operations are generally profitable, they are unable to offset the losses incurred from overseas operations [1]

Group 1 - The company, Shangong Shenbei, is currently in a product production recovery phase for its general aviation aircraft manufacturing business [1] - The company is also in the process of establishing its domestic production base [1]