Rayco Defense: Revenue is expected to be between 1.3 billion to 1.6 billion in 2025, with an estimated loss in net profit.

Raycorp Defense announced that it is expected to achieve revenue of 1.3-1.6 billion yuan in 2025, compared to 1.242 billion yuan in the same period last year; the net profit attributable to shareholders of the listed company is expected to be a loss of 50-100 million yuan, compared to a loss of 396 million yuan in the same period last year, an increase of 74.75%-87.37%; the non-recurring net profit is expected to be a loss of 70-130 million yuan, compared to a loss of 405 million yuan in the same period last year, an increase of 67.93%-82.73%; basic earnings per share are expected to be a loss of 0.04-0.08 yuan per share, compared to a loss of 0.30 yuan per share in the same period last year. The main reasons for the performance change are increased investment in civil products leading to an increase in research and development expenses, as well as asset impairment and credit impairment losses. The data is preliminary and subject to the annual report.