Tianma Technology: It is expected that the net profit will be a loss of 120 million to 180 million yuan by 2025.

Tianma Technology Announcement: It is expected that the net profit attributable to the shareholders of the listed company in 2025 will be a loss of 120 million to 180 million yuan, compared to a net profit of 26.0327 million yuan in the same period last year. It is expected that the net profit attributable to the shareholders of the listed company in 2025, excluding non-recurring gains and losses, will be a loss of 140 million to 200 million yuan. During the reporting period, affected by macroeconomic fluctuations, industry cyclical adjustments, and intensified market competition, coupled with an abundant supply of Japanese eel fry in 2025 leading to an increase in market expectations, the sales prices of live eels and grilled eels are generally on a downward trend. The eel industry is in a downturn, with losses in the breeding and grilled eel food sectors.