Hongbo New Material: It is expected that the annual net profit for 2025 will be a loss of 150 million to 110 million yuan.

Hongbo New Materials announces that it is expected to record a net loss of 150 to 110 million yuan in annual net profit for the year 2025. The company's operating performance during the reporting period is mainly due to the following reasons: Firstly, the macroeconomic environment has weakened, with imbalances in supply and demand in the industry remaining unresolved. Industry competition is still intense, although the sales volume of the company's main products has steadily increased year-on-year, the selling prices are still at historical lows. Secondly, the depreciation and operating costs have increased due to the completion of construction projects in progress during this period. Thirdly, there has been an increase in related expenses in this period, including the provision for share-based payment expenses under the equity incentive plan implemented by the company, as well as an increase in the provision for interest on convertible bonds compared to the same period of the previous year.