ST Hakuhodo: Revenue 3.8-4.3 billion yuan by 2025, net loss 1.8-2.4 billion yuan.

*ST Kao announced that it is expected to have annual operating income of 380 million to 430 million yuan in 2025, a significant increase from 91.6408 million yuan in 2024; the net profit attributable to shareholders of the listed company is expected to be -240 million to -180 million yuan, compared to a loss of 813 million yuan in 2024. The main reason for the change in performance is the acquisition of a controlling stake in Anhui Niwei Automotive Power System Co., Ltd. in August 2025, which resulted in increased revenue from September onwards; a provision of approximately 260 million yuan for asset impairment and credit impairment based on the prudence principle; and recognition of reorganization related items of approximately 126 million yuan in reorganization income. The company's stock was subject to delisting risk warning on May 6, 2025.