Binhai Energy: It is expected that the net profit will be negative in 2025.

Binhai Energy announcement, it is expected that the net profit for the year 2025 will be negative, with the net profit attributable to the shareholders of the listed company estimated to be between -98 million yuan and -69 million yuan, compared to -28.1342 million yuan for the same period last year. After deducting non-recurring gains and losses, the net profit is expected to be between -96 million yuan and -67 million yuan, compared to -28.018 million yuan for the same period last year. The overall scale of the company's negative electrode material production capacity is still small, has not yet fully reached capacity, and fixed asset depreciation and labor costs are relatively high. Combined with the rising prices of upstream raw materials such as petroleum coke and calcined coke, the gross profit margin for this year has decreased. The company has only recently entered the new energy negative electrode material industry, and the construction of production lines and the provision of working capital primarily depend on debts, resulting in high financial expenses for the reporting period. During the reporting period, the photovoltaic business construction project of the company's subsidiary in Baotou has not been progressed, and out of caution, impairment losses have been recognized for the related construction projects under development.