Glacier Network Expects $17.4M-$24.8M Loss for First Three Quarters of 2026

The swing from a 502 million yuan profit to a projected loss, with the adjusted loss exceeding the headline figure, points to deteriorating core operations rather than one-off charges. The third-quarter loss alone accounts for the bulk of the nine-month shortfall, suggesting the downturn intensified rather than stabilized. Whether the non-recurring items that narrowed the reported loss recur, and whether the third-quarter trend extends into the final quarter, are the open questions.