Group 1 - The company expects to achieve an operating income of 186 million yuan for the first half of 2025, a decrease of approximately 38.19% compared to 300.90 million yuan in the same period last year [2][5] - The net profit attributable to shareholders is projected to be -131 million yuan, which is a larger loss compared to -87.28 million yuan in the same period last year [2][5] - The net profit attributable to shareholders after deducting non-recurring gains and losses is also expected to be -131 million yuan [3][6] Group 2 - The performance forecast period is from January 1, 2025, to June 30, 2025 [4] - The previous year's operating income was 300.90 million yuan, and the net profit attributable to shareholders was -87.28 million yuan [8] - The previous year's earnings per share were -0.06 yuan [9] Group 3 - The main reasons for the expected loss in the first half of 2025 include the impact of increased U.S. tariff barriers, more trade restrictions, and regional conflicts, leading to a significant slowdown in global trade volume growth [10] - The container industry prosperity index has decreased by approximately 20% compared to the same period last year, with new container inventory levels remaining historically high [10] - The average sales price of container flooring has decreased by about 25% compared to the same period last year, and the contracted sales volume has declined by approximately 2.3% [10]

Core Viewpoint - The company reported significant financial challenges in 2024, with a revenue of 602 million yuan, a net loss of 334 million yuan, and a cumulative loss of 823 million yuan over the past three years, indicating ongoing operational difficulties and a need for strategic reassessment [2][4]. Financial Performance - The company achieved a revenue of 602 million yuan in 2024, representing a 144.46% increase year-on-year, but incurred a net loss of 334 million yuan, worsening from the previous year [2][4]. - The gross margin for 2024 was -9.50%, with total operating costs amounting to 659 million yuan [2][4]. - Quarterly revenue breakdown for 2024 showed fluctuations: 53 million yuan, 248 million yuan, 193 million yuan, and 108 million yuan, with corresponding gross margins of -5.49%, -4.38%, -0.35%, and -39.44% [2][4]. Container Floor Business - The container floor segment generated 493 million yuan in revenue for 2024, a substantial increase of 301.37% compared to the previous year, but also reported a gross margin of -9.40% [5][6]. - Production for container floors was 20,800 cubic meters, while sales reached 119,000 cubic meters, indicating a high sales volume relative to production [6][11]. - The company faced high customer and supplier concentration, with the top five customers accounting for 79.96% of sales and the top five suppliers for 71.52% of purchases [6][10]. Operational Challenges - The significant loss in Q4 2024 was attributed to various factors, including depreciation of 74.5 million yuan and inventory impairment losses of approximately 52.6 million yuan [3][4]. - The company terminated recognition of deferred tax assets amounting to 55.2 million yuan, contributing to the increased losses in Q4 [4][11]. - The operational strategy included a shift towards OEM (Original Equipment Manufacturer) partnerships to meet rising demand, with OEM sales accounting for 73% of total container floor sales in 2024 [11][12]. Customer and Supplier Dynamics - The company reported changes in its major customers, with new additions such as Zhejiang Fanyang Special Equipment Co., Ltd. and China Ocean Shipping Group, while traditional customers like Xinhua Chang Group remained significant [9][10]. - The top five suppliers included Feixian Zongseng Board Factory and Shandong Shengdeze New Materials Co., Ltd., with a focus on maintaining stable supply chains amid market fluctuations [10][12]. OEM Business Model - The OEM business model was adopted to address the inability to meet large-scale production demands, with a focus on quality control and supplier management [11][12]. - The company emphasized that it does not engage in direct trading of finished products from suppliers to customers, maintaining control over the production and quality assurance processes [12][14]. - The OEM revenue accounted for approximately 60% of total revenue in 2024, highlighting the strategic pivot towards outsourcing production to meet market demands [12][13].