Economic Observation Network Zhongxin Bo (688408)'s operating performance in 2025 has declined year-on-year, resulting in a net loss attributable to the parent company, mainly due to external factors.

Performance and business situation:
Revenue of 2.911 billion yuan (YoY -27.88%), net profit attributable to the parent company of -204 million yuan (YoY converted to loss), gross profit margin of 13% (YoY -4.07 pct) Looking at it separately, the losses mainly come from three things: the Middle East geopolitical conflict leading to delivery disruptions (sending out goods skyrocketing to 2.812 billion yuan), the increase in sea freight prices squeezing gross profit, and the appreciation of the Chinese yuan resulting in a 120 million exchange loss (financial expenses increased by 465.51% year-on-year) These are external variables, not a collapse of product competitiveness.

The above content is based on publicly available information and does not constitute investment advice.