Core Viewpoint - The company Shida Shenghua (603026.SH) has announced a projected net loss for the first three quarters of 2025, indicating a significant decline in profitability compared to the previous year [1] Financial Performance - The expected net loss for the first three quarters of 2025 is estimated to be between 49 million to 75 million yuan [1] - This represents a decrease in net profit of approximately 60.27 million to 86.27 million yuan compared to the same period last year [1] Market Conditions - The decline in profitability is attributed to intense market competition and a year-on-year decrease in the prices of some products [1] - In response to industry competition, the company has increased its market investment and research and development efforts, leading to a rise in period expenses [1] - As a result, operating profit has decreased [1]

报告期归属于上市公司股东的净利润较上年同期减少，主要是市场竞争激烈，公司部分产品价格同比下 降，为应对行业竞争，公司加大了市场投入及研发力度，期间费用同比增加，营业利润减少。 智通财经APP讯，石大胜华(603026.SH)发布2025年前三季度业绩预亏公告，预计2025年前三季度实现 归属于上市公司股东净亏损4900万元到7500万元，与上年同期(法定披露数据)相比，将减少6,026.51万 元到8,626.51万元。 ...

石大胜华10月15日晚间公告，预计前三季度归母净利润亏损4900万元到7500万元，上年同期盈利 1126.51万元。 ...

本文由 AI算法生成，仅作参考，不涉投资建议，使用风险自担 【石大胜华预计2025年前三季度净利润亏损，业绩同比转亏】10月15日，石大胜华(603026.SH)公告透 露，预计2025年前三季度归属于上市公司股东的净利润亏损4900万元 - 7500万元，上年同期盈利 1126.51万元。业绩同比转亏，主要是市场竞争激烈，部分产品价格下降，且公司加大市场投入和研发 力度，期间费用上升，致使营业利润减少。 ...

格隆汇10月15日丨石大胜华(603026.SH)公布，财务部门初步测算，预计2025年前三季度实现归属于上 市公司股东的净利润-4,900.00万元到-7,500.00万元，同比减少534.97%到765.77%。扣除非经常性损益事 项后，预计2025年前三季度归属于上市公司股东的扣除非经常性损益的净利润-5,300.00万元到-7,900.00 万元，同比减少2,177.13%到3,196.10%。 本报告期归属于上市公司股东的净利润较上年同期减少，主要是市场竞争激烈，公司部分产品价格同比 下降，为应对行业竞争，公司加大了市场投入及研发力度，期间费用同比增加，营业利润减少。 ...

（记者 曾健辉） 每经头条（nbdtoutiao）——出租白银的爆赚机会：年化利率飙升到35%，全球白银正空运往英国套 利，背后是一场史诗级逼空 每经AI快讯，石大胜华10月15日晚间发布业绩预告，预计2025年前三季度实现归属于上市公司股东的 净利润-4900万元到-7500万元，与上年同期相比，将减少6026.51万元到8626.51万元，同比减少 534.97%~765.77%。本报告期归属于上市公司股东的净利润较上年同期减少，主要是市场竞争激烈，公 司部分产品价格同比下降，为应对行业竞争，公司加大了市场投入及研发力度，期间费用同比增加，营 业利润减少。 ...

Core Viewpoint - The company Shida Shenghua (603026) announced a significant expected net loss for the first three quarters of the year, indicating a shift from profit to loss compared to the previous year [1] Financial Performance - The company anticipates a net loss ranging from 49 million to 75 million yuan for the first three quarters, compared to a profit of 11.2651 million yuan in the same period last year, reflecting a year-on-year decline [1] - The decrease in profitability is attributed to intensified market competition and a decline in the prices of some products [1] Strategic Response - In response to the competitive landscape, the company has increased its market investment and research and development efforts, leading to a rise in operating expenses compared to the previous year [1] - The increase in expenses has contributed to a reduction in operating profit during the reporting period [1]

[Important Notice](index=1&type=section&id=%E9%87%8D%E8%A6%81%E5%86%85%E5%AE%B9%E6%8F%90%E7%A4%BA) [Current Period Performance Forecast](index=1&type=section&id=%E4%B8%80%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%83%85%E5%86%B5) Shida Shenghua anticipates significant losses for the first three quarters of 2025, with net profit attributable to shareholders projected to be between -49 million and -75 million CNY, representing a substantial year-over-year decrease [Performance Forecast Period](index=1&type=section&id=(%E4%B8%80)%20%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%9C%9F%E9%97%B4) This performance forecast covers the period from January 1, 2025, to September 30, 2025 - The performance forecast period is from January 1, 2025, to September 30, 2025[3](index=3&type=chunk) [Performance Forecast Details](index=1&type=section&id=(%E4%BA%8C)%20%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%83%85%E5%86%B5) The company expects significant losses in both net profit attributable to shareholders and non-recurring net profit for the first three quarters of 2025, with substantial year-over-year declines 2025 First Three Quarters Performance Forecast | Indicator | Estimated Amount (CNY million) | YoY Change (CNY million) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Shareholders | -49.00 to -75.00 | Decrease 60.2651 to 86.2651 | Decrease 534.97% to 765.77% | | Net Profit Attributable to Shareholders Excluding Non-recurring Gains/Losses | -53.00 to -79.00 | Decrease 55.5516 to 81.5516 | Decrease 2,177.13% to 3,196.10% | [Unaudited Performance Forecast Statement](index=1&type=section&id=(%E4%B8%89)%20%E6%9C%AC%E6%AC%A1%E6%89%80%E9%A2%84%E8%AE%A1%E7%9A%84%E4%B8%9A%E7%BB%A9%E6%9C%AA%E7%BB%8F%E6%B3%A8%E5%86%8C%E4%BC%9A%E8%AE%A1%E5%B8%88%E5%AE%A1%E8%AE%A1) The forecasted performance is unaudited by a certified public accountant and represents preliminary estimates - The performance forecast data is unaudited by a certified public accountant[3](index=3&type=chunk) [Prior Period Performance Overview](index=1&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%8A%E5%B9%B4%E5%90%8C%E6%9C%9F%E4%B8%9A%E7%BB%A9%E6%83%85%E5%86%B5) In the first three quarters of 2024, the company achieved a net profit attributable to shareholders of 11.2651 million CNY and a non-recurring net profit of 2.5516 million CNY, contrasting sharply with the current period's projected loss [Net Profit Attributable to Shareholders and Non-recurring Net Profit](index=2&type=section&id=(%E4%B8%80)%20%E5%BD%92%E5%B1%9E%E4%BA%8E%E4%B8%8A%E5%B8%82%E5%85%AC%E5%8F%B8%E8%82%A1%E4%B8%9C%E7%9A%84%E5%87%80%E5%88%A9%E6%B6%A6) In the prior period, net profit attributable to shareholders was 11.2651 million CNY, and non-recurring net profit was 2.5516 million CNY 2024 First Three Quarters Performance | Indicator | Amount (CNY million) | | :--- | :--- | | Net Profit Attributable to Shareholders | 11.2651 | | Net Profit Attributable to Shareholders Excluding Non-recurring Gains/Losses | 2.5516 | [Earnings Per Share](index=2&type=section&id=(%E4%BA%8C)%20%E6%AF%8F%E8%82%A1%E6%94%B6%E7%9B%8A) Earnings per share in the prior period was 0.06 CNY - Prior period earnings per share was **0.06 CNY**[6](index=6&type=chunk) [Primary Reasons for Current Period's Projected Loss](index=2&type=section&id=%E4%B8%89%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E4%BA%8F%E7%9A%84%E4%B8%BB%E8%A6%81%E5%8E%9F%E5%9B%A0) The projected loss is primarily due to intense market competition leading to year-over-year price declines for some products, coupled with increased marketing and R&D expenses to counter industry competition, ultimately reducing operating profit - Intense market competition led to a year-over-year decline in prices for some company products[7](index=7&type=chunk) - To address industry competition, the company increased market investment and R&D efforts, resulting in a year-over-year increase in period expenses[7](index=7&type=chunk) - Operating profit consequently decreased[7](index=7&type=chunk) [Risk Alert](index=2&type=section&id=%E5%9B%9B%E3%80%81%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) The company states there are no significant uncertainties that could affect the accuracy of this performance forecast - The company confirms no significant uncertainties exist that could impact the accuracy of this performance forecast[8](index=8&type=chunk) [Other Explanatory Notes](index=2&type=section&id=%E4%BA%94%E3%80%81%E5%85%B6%E4%BB%96%E8%AF%B4%E6%98%8E%E4%BA%8B%E9%A1%B9) This performance forecast data is preliminary, and the final accurate financial figures will be based on the company's officially disclosed periodic reports, advising investors to be aware of investment risks - The forecast data is preliminary, and the final accurate financial data will be subject to the company's officially disclosed periodic reports[9](index=9&type=chunk) - Investors are advised to be aware of investment risks[9](index=9&type=chunk)

石大胜华：预计前三季度净利润亏损4900万元-7500万元，同比转亏。 ...

Summary of Shida Shenghua's Conference Call Company Overview - **Company**: Shida Shenghua - **Industry**: Lithium salt production, specifically lithium hexafluorophosphate and carbonate solvents Key Points Production and Market Situation - **Lithium Hexafluorophosphate Production**: Monthly production stabilized at 4,000-5,000 tons, equivalent to 1,200-1,500 tons of solid salt, with an expected total shipment of 40,000 tons for the year, meeting the demand for 120,000 tons of electrolyte production [2][3] - **Market Demand**: The market for lithium hexafluorophosphate is currently tight, with an estimated production of 23,000 tons in October, indicating a balanced supply-demand situation expected to continue into the first half of next year [9][10] Customer Certification and Sales - **Domestic and International Certifications**: Achieved significant breakthroughs in customer certifications, including major domestic manufacturers like CATL and BYD, and international clients such as Inco and Mitsubishi [4][5] - **Market Share**: The company holds approximately 30% of the domestic carbonate solvent market and 40% globally, with exports accounting for 70% of domestic sales [4] Cost Control and Profitability - **Cost Management**: The company employs advanced continuous production techniques, resulting in lower energy consumption and controllable costs. Current full cost is around 54,000 RMB/ton, with a gross margin estimated between 30%-50% [6][8] - **Profitability Outlook**: With rising market prices for lithium hexafluorophosphate, the company anticipates a significant increase in profit margins, potentially reaching 80,000 RMB/ton [6][31] Future Production Plans - **Capacity Expansion**: Current production capacity is 100,000 tons (equivalent to 30,000 tons of solid salt), with plans to reach 80,000 tons in 2026 and full capacity by 2027 [7][33] - **Electrolyte Production Goals**: The target for electrolyte production is set at 120,000 tons for 2025, with a corresponding demand for approximately 17,000 tons of lithium hexafluorophosphate [13] Pricing and Market Trends - **Price Trends**: The price of lithium hexafluorophosphate has increased to over 70,000 RMB/ton, with expectations of further increases if stability is maintained in the market [12][31] - **Carbonate Solvent Pricing**: Anticipated price increases for carbonate solvents due to rising electrolyte demand, with expected price hikes between 300 to 500 RMB [21][26] Customer Structure and Sales Model - **Sales Distribution**: The company operates on a mixed sales model, with long-term contracts and spot sales, where long-term contracts account for about 50% of sales [15] - **Major Clients**: Key clients include CATL, which constitutes 70%-80% of the electrolyte sales [29] Industry Context - **Overall Market Conditions**: The lithium hexafluorophosphate market is experiencing a tight supply situation, with limited new capacity expected in the near term, leading to sustained demand pressure [11][12] - **Competitor Landscape**: The market is dominated by a few key players, with Shida Shenghua, Haike, and Hualu Hengsheng collectively holding 70%-80% of the market share in carbonate solvents [25][38] Conclusion Shida Shenghua is positioned strongly within the lithium salt industry, with robust production capabilities, a solid customer base, and effective cost management strategies. The company is well-prepared to meet increasing market demands while navigating the challenges of a competitive landscape.