Sheng Jingwei: The estimated net profit in 2025 is expected to decrease by 34.53% - 56.35%.

Shengjingwei announced that the company is expected to achieve a net profit attributable to shareholders of 10-15 million yuan in 2025, a year-on-year decrease of 34.53% - 56.35%; the non-net profit is expected to be -1.5-3.5 million yuan, a year-on-year decrease of 64.99% - 115.01%. The net profit attributable to shareholders in the same period of the previous year was 22.9102 million yuan, and the non-net profit was 9.9962 million yuan. The main reasons for the decline in performance are the sluggish demand in the fireworks industry market, overcapacity, intense competition, and a decrease in average product prices. The forecast data is unaudited, and the annual report shall prevail.