Core Viewpoint - The company, Beijing Anbotong Technology Co., Ltd., anticipates a significant decline in revenue and continued losses for the fiscal year 2025 compared to the previous year [1][3]. Performance Forecast - The company expects to achieve an annual revenue of RMB 536 million to RMB 592 million for 2025, representing a decrease of RMB 144.75 million to RMB 200.75 million, or a year-on-year decline of 19.65% to 27.25% [1]. - The projected net profit attributable to the parent company is expected to be between RMB -114 million and RMB -165 million, indicating continued losses compared to the previous year [1]. - The net profit attributable to the parent company after deducting non-recurring gains and losses is forecasted to be between RMB -117 million and RMB -169 million, also reflecting ongoing losses [1]. Previous Year Performance - In 2024, the company reported an annual revenue of RMB 736.75 million and a net profit attributable to the parent company of RMB -118.67 million [3]. - The net profit attributable to the parent company after deducting non-recurring gains and losses was RMB -122.12 million for the same period [3]. Reasons for Performance Changes - As a core component supplier, the company continues to provide proprietary security operating systems and computing infrastructure to downstream clients, collaborating with domestic chip manufacturers to develop compliant computing solutions [4]. - The company has established a comprehensive service capability in intelligent computing, supporting user transformation and AI development, with successful projects like the Wuxi AI Computing Center and Henan Wan P-level Computing Center [4]. - The company maintains a collaborative ecosystem, having built strong partnerships with various network equipment manufacturers and security firms, including Huawei and Inspur, to foster technological research and scene expansion [4]. - The strategic transformation towards AI and security computing has altered revenue proportions, and supply issues have affected the delivery of large projects, impacting profit changes [4].

Core Viewpoint - Anbotong (688168.SH) is expected to report a net loss of between RMB -114 million and -165 million for the year 2025, continuing its trend of losses compared to the previous year [1]. Group 1: Financial Performance - The company anticipates a net profit attributable to shareholders of the parent company in the range of RMB -114 million to -165 million for 2025, indicating ongoing financial challenges [1]. Group 2: Business Strategy and Operations - Anbotong is transitioning from a visual network security innovator to a builder of an AI-era security computing ecosystem, which has led to changes in revenue composition [2]. - The company is focusing on providing autonomous intellectual property-based secure operating systems and computing components to downstream clients, collaborating deeply with domestic chip manufacturers to develop compliant computing solutions [1]. - The company has established a full-process closed-loop service capability in intelligent computing, covering supply of computing devices, integration of intelligent computing centers, computing scheduling, security operations, and support for intelligent agent development [1]. Group 3: Ecosystem and Partnerships - Anbotong has built solid partnerships with various network equipment manufacturers, security companies, and state-owned enterprises through core technologies like the SPOS system and visual topology engine [1]. - In the new phase of AI and security computing, the company is further collaborating with partners such as Huawei, JD Technology, Inspur Cloud, and others to promote joint technology research and scenario expansion, continuously constructing an open and collaborative security computing ecosystem [1].