ST Pava: Net loss in 2025 was 698 million yuan, compared to a loss of 727 million yuan in the same period last year.

ST Pava released its performance report, with total operating income of 673 million yuan in 2025, a year-on-year decrease of 29.01%. The net loss was 698 million yuan, compared to a loss of 727 million yuan in the same period last year. During the reporting period, the factors affecting operational performance mainly include two aspects: on one hand, to optimize business quality, the company actively adjusted its operating strategy, focused on high-quality orders, and streamlined the sales structure. At the same time, due to relatively rigid fixed expenses such as depreciation of fixed assets, the optimization of the sales structure is difficult to effectively dilute fixed costs. On the other hand, based on prudence requirements, provisions for impairment of inventories, fixed assets, construction in progress, intangible assets, and accounts receivable were made, which had a significant impact on current profits.