JINGCHENG MAC (00187) announced that, based on preliminary calculations by the company's finance department, it is estimated that the net profit attributable to the owners of the parent for the full year of 2025 will record a loss of approximately RMB 46 million to RMB 55.2 million. This represents a significant shift from a profit to a loss compared to the same period last year. The company also anticipates that the net profit attributable to owners of the parent, after deducting non-recurring gains and losses, will see a loss in the range of approximately RMB 74.6 million to RMB 89.5 million for the 2025 fiscal year. The primary reasons for the expected loss in the current period are outlined as follows: due to escalating international trade frictions, the export business within the company's gas storage and transportation segment has come under significant pressure, facing substantial downward challenges that have led to declines in both sales volume and profit margins for certain products. Concurrently, emerging business lines such as hydrogen energy are still in the early stages of industry cultivation, with the overall market scale yet to meet initial expectations. Although the company's revenue from these related businesses achieved year-on-year growth, intensified market competition has resulted in profitability levels for the period falling below projections. Furthermore, to bolster its core competitiveness, the company has persistently increased investments in areas including new product research and development and strategic layout across the industrial chain. This proactive approach has led to a rise in R&D expenses for the current period compared to the same period last year.