Core Viewpoint - Chuangxin Engineering Consulting Co., Ltd. (hereinafter referred to as "Chuangxin") has disclosed its progress report on the guidance for its initial public offering (IPO), indicating significant challenges in achieving its financial targets and the need for strategic adjustments to improve performance [2][4]. Group 1: Company Overview - Chuangxin was established in June 2000 and operates as a provider of engineering cost consulting and related services, including cost consulting, BIM consulting, project management, PPP consulting, bidding agency, and engineering consulting [2]. - The company has been under IPO guidance since May 2020, with the current guidance period running from April 1, 2025, to June 30, 2025, marking a total of five years in the IPO guidance phase [2]. Group 2: Financial Performance - In 2024, Chuangxin reported an operating income of 52.48 million yuan, a decrease of 49.89% compared to the previous year [5]. - The net profit attributable to shareholders turned negative at -33.92 million yuan, representing a decline of 567.28% year-on-year, indicating a significant loss compared to a profit of 7.26 million yuan in the previous year [5]. - The total assets decreased by 28.53% to 127.21 million yuan, while total liabilities fell by 19.04% to 49.22 million yuan [5]. Group 3: Strategic Adjustments - The company is actively adjusting its client structure by reducing the proportion of real estate clients and is working to identify potential operational risks in ongoing projects [6]. - Chuangxin is also exploring ways to mitigate risks through negotiations with clients and optimizing project costs [6].