Qinchuan IoT: Net loss of 117 million yuan in 2025.

Qin Chuan IoT released its performance report, achieving total operating income of 270 million yuan in 2025, a year-on-year decrease of 15.76%; a net loss of 117 million yuan, compared to a loss of 65.2365 million yuan in the same period last year. The company's IoT smart gas meter was affected by intensified competition in the domestic market, leading to a decline in sales volume and unit price. The revenue from the overseas market of gas meters and the smart sensor sector showed growth during the reporting period, with related businesses in a crucial stage of market development. The initial base was low and the customer integration cycle was long, therefore no scale effect was formed during the reporting period.