SICC Co., Ltd. (02631) expects annual operating income to be between 14.5 billion yuan and 15 billion yuan.

SICC Co., Ltd. (02631) announced that the company is expected to achieve an operating income of 1.45 billion to 1.5 billion yuan in 2025, a decrease of 318 million to 268 million yuan compared to the same period last year (as disclosed by law), with a year-on-year decrease of 17.99% to 15.17%. It is expected that the net profit attributable to the owners of the parent company in 2025 will be a loss compared to the same period last year (as disclosed by law), with a net profit attributable to the owners of the parent company of -225 million to -185 million yuan. Compared to the same period last year (as disclosed by law), it will decrease by 404 million to 364 million yuan, a year-on-year decrease of 225.68% to 203.34%. During the reporting period, although the sales volume of the company's substrate products increased, the overall revenue scale decreased compared to the same period last year due to the impact of market price declines. The average price of the company's products decreased, partly due to competition in the domestic market and partly due to the company's market strategy adjustment, which led to a decrease in sales revenue. During the reporting period, the company actively explored the application of large-size products in new application markets, leading to an increase in sales expenses. In order to maintain the company's leading technological advantage in the industry, continuous investment in the research and development of large-size products and new technologies drove an increase in research and development expenses. During the reporting period, an increase in income tax expenses and penalty payments due to tax matters, a decrease in overall gross profit due to a decrease in product prices, an increase in foreign exchange losses due to fluctuations in the RMB exchange rate, an increase in asset impairment provisions, and an increase in expenses related to the company's overseas listing during the reporting period collectively led to a decrease in the net profit attributable to the owners of the parent company and the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses.