Zhonggang Luonai: Expected net loss from RMB 120 million to RMB 190 million in 2025.

China Steel Logistics announced that from January 1, 2025 to December 31, it is expected that the net profit attributable to the owners of the parent company will be between -190 million yuan and -120 million yuan, a decrease of 103.06% to 221.51% year-on-year; the non-standard net profit will be between -260 million yuan and -180 million yuan, a decrease of 58.26% to 128.60% year-on-year. The main reasons for the performance change are the weakening demand in downstream industries, declining product prices, squeezed profit margins; provision for bad debts for some large overdue accounts receivable in history; provision for impairment of some idle fixed assets.