SINOHYTEC (02402) has released its 2025 preliminary financial results. The company reported an operating revenue of approximately 262 million yuan, representing a decrease of 28.51% compared to the previous year. The net loss attributable to owners of the parent company was approximately 628 million yuan, which widened by 37.65% year-on-year. The basic loss per share was 2.71 yuan.

The company attributed the increased loss primarily to three factors. First, due to liquidity pressures, the company adopted a more cautious market strategy, leading to a year-on-year decline in sales of its fuel cell systems. Second, based on the principle of accounting prudence, the provisions for credit impairment losses and asset impairment losses increased compared to the same period last year. Third, influenced by market conditions and the operational performance of its affiliated companies, the investment loss from associates increased year-on-year.