[julienfr112]

"at a loss" can be very different depending on : - is it pure marginal cost ? - do you include a part of R&D cost ? - do you factor large capex (factory, stamping press, and silicon fab in related industries ) - how do you compute depreciation ?

When you see the gap between accounting in the West and "accounting" in China, "at a loss" has no meaning at all.

[exceptione]

At a loss as in: several big EV-manufacturers went totally bankrupt, but the PRC revived them from dead by pouring billions in them.