Wandes: Net loss of 114 million yuan in 2025.

Wandesu released its performance report, with the company achieving a total operating income of 506 million yuan in 2025, a year-on-year decrease of 18.64%; achieving a net profit attributable to the owners of the parent company of -114 million yuan, compared to -74.2091 million yuan in the same period last year. During the reporting period, on the one hand, the company's overall operational performance was under pressure due to intensified industry competition; on the other hand, the company improved project selection criteria by choosing clients with better payment capabilities.