Fine Made: Expected net loss attributable to the parent company in 2025 is between 150 million and 190 million yuan

36Kr learned that Fine Made released its performance forecast for 2025. The report shows that it is expected to achieve operating revenue of 850 million to 870 million yuan in 2025, and it is expected to incur a net loss attributable to the parent company of 150 million to 190 million yuan in 2025. During the reporting period, the company focused on increasing R&D investment, accelerating the promotion of new products, speeding up technological iteration, optimizing product structure, strengthening channel construction, and optimizing marketing strategies, which led to growth in both sales volume and sales revenue compared to 2024. Based on the principle of prudence, the company recognized an inventory impairment loss of approximately 67.4513 million yuan during the reporting period; accounts receivable bad debt recovery amounted to 19.8208 million yuan. In 2025, the company recognized share-based payment expenses of 28.5689 million yuan