SICC (02631.HK) issued a profit warning, expecting a loss of between RMB 185 million and RMB 225 million for the fiscal year 2025, compared to a net profit of RMB 179 million for the previous year. The reasons include increased income tax expenses and late fees due to tax matters; a decline in overall gross profit due to falling product prices; increased foreign exchange losses due to currency fluctuations; increased asset impairment provisions; and increased expenses due to overseas listings.
Annual operating revenue is expected to be between RMB 1.45 billion and RMB 1.5 billion, a decrease of 15%-18%. During the period, the sales volume of the company's substrate products increased, but overall revenue declined due to falling market prices