ST Jiawo: It is expected to have a net loss of 390 million to 640 million yuan in 2025.

ST Jiawo announcement, it is expected that the net profit for the fiscal year 2025 will be a loss of 390 million to 640 million yuan. The company's subsidiary Beijing Zhencheng has been continuously losing money in recent years, and the company completed a major asset restructuring and delivery process in June 2025. According to "Enterprise Accounting Standard No. 33 - Consolidated Financial Statements", the company will include the revenue, expenses, and profits of subsidiary Beijing Zhencheng from the beginning of the period to the disposal date in the consolidated income statement. This reporting period includes the profit and loss of subsidiary Beijing Zhencheng from January to June 2025. Starting from the second half of 2025, subsidiary Beijing Zhencheng will no longer be included in the company's consolidated financial statements, resulting in a decrease in revenue compared to the same period last year, a significant reduction in net loss, and achieving positive net assets.