ST Pawa: Net profit loss of 699 million yuan in 2025, compared to a loss of 727 million yuan in the same period last year.

ST Pawa releases an earnings quick report: in fiscal year 2025, total operating revenue was 673 million yuan, down 29.01% year over year. Net profit recorded a loss of 698 million yuan; the loss in the same period last year was 727 million yuan. During the reporting period, the factors affecting operating performance mainly include two aspects. On the one hand, to improve business quality, the company proactively adjusted its operating strategy, focused on high-quality orders, and optimized and streamlined its sales structure. At the same time, because fixed expenditures such as depreciation of fixed assets are relatively rigid, the streamlined optimization of the sales structure makes it difficult to effectively dilute fixed costs. On the other hand, in accordance with prudence requirements, the company made provision for impairment of certain inventories, fixed assets, construction in progress, intangible assets, accounts receivable, and so on, which had a significant impact on the company’s current-period profit.