Core Viewpoint - Haizheng Shengcai (688203) expects a significant decline in net profit for the fiscal year 2025, projecting a profit of 7.5 million to 9.5 million yuan, representing a year-on-year decrease of 73.24% to 78.88% [2] Financial Performance - The company faces downward pressure on product sales prices, which has compressed the gross profit margin [2] - A decrease in interest income and foreign exchange gains has led to an increase in financial expenses for the period [2] - The transition of some construction projects from investment to fixed assets has resulted in increased depreciation and tax expenses, further squeezing profits [2]

Core Viewpoint - The company, Haizheng Shengcai (688203.SH), expects a significant decline in net profit for the year 2025, projecting a decrease of 73.24% to 78.88% compared to the previous year [1] Financial Performance - The estimated net profit attributable to the parent company is projected to be between 7.5 million to 9.5 million yuan, a decrease of 26.0046 million to 28.0046 million yuan year-on-year [1] - The net profit excluding non-recurring gains and losses is expected to be between 5.5 million to 7.5 million yuan, reflecting a year-on-year decrease of 75.98% to 82.39% [1] Operational Insights - The company has seen steady progress in production and operations, with an upward trend in the sales volume of its main products [1] - Despite the growth in sales revenue due to deepening and expanding the domestic market, the company faces downward pressure on product sales prices due to market competition [1] Financial Challenges - There has been a year-on-year decrease in interest income and foreign exchange gains, leading to an increase in financial expenses [1] - The transition of construction projects from fundraising investments to fixed assets has resulted in increased depreciation and tax expenses, further compressing profits for the period [1]

本期业绩变化的主要原因：报告期内，公司生产经营工作稳步推进，主营产品产销量呈现增长趋势，公 司不断深耕和拓宽国内市场，销售额实现增长。但是受市场竞争影响，公司产品销售价格面临下行压 力，致使产品毛利空间承压。本期利息收入和汇兑收益同比减少，导致本期财务费用增加。募投项目在 建工程部分转固，导致折旧、税金等费用增加，进而压缩了本期利润。 格隆汇1月30日丨海正生材(688203.SH)公布，经财务部门初步测算，预计2025年年度实现归属于母公司 所有者的净利润为750万元到950万元，与上年同期相比，将减少2600.46万元到2800.46万元，同比减少 73.24%到78.88%。归属于母公司所有者的扣除非经常性损益的净利润为550万元到750万元，与上年同 期相比，将减少2372.89万元到2572.89万元，同比减少75.98%到82.39%。 ...

格隆汇1月30日｜海正生材公告，预计2025年年度实现归属于母公司所有者的净利润为750万元到950万 元，与上年同期相比，将减少2600.46万元到2800.46万元，同比减少73.24%到78.88%。归属于母公司所 有者的扣除非经常性损益的净利润为550万元到750万元，与上年同期相比，将减少2372.89万元到 2572.89万元，同比减少75.98%到82.39%。 ...

Core Viewpoint - The company expects a significant decline in net profit for the fiscal year 2025, projecting a range of 7.5 million to 9.5 million yuan, which represents a year-on-year decrease of 73.24% to 78.88% [1] Group 1 - The company cites market competition as a key factor leading to downward pressure on product sales prices, which in turn compresses gross profit margins [1] - There has been a year-on-year decrease in interest income and foreign exchange gains, contributing to an increase in financial expenses for the current period [1] - Ongoing construction projects related to fundraising have been capitalized, resulting in increased depreciation and tax expenses, further impacting current profits [1]

证券代码：688203 证券简称：海正生材 公告编号：2026-02 浙江海正生物材料股份有限公司 2025 年年度业绩预告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日。 （二）业绩预告情况 （1）经财务部门初步测算，预计 2025 年年度实现归属于母公司所有者的净 利润为 750 万元到 950 万元，与上年同期相比，将减少 2,600.46 万元到 2,800.46 万元，同比减少 73.24%到 78.88%。 （2）归属于母公司所有者的扣除非经常性损益的净利润为 550 万元到 750 万元，与上年同期相比，将减少 2,372.89 万元到 2,572.89 万元，同比减少 75.98% 到 82.39%。 （三）本次业绩预告未经注册会计师审计。 二、上年同期业绩情况和财务状况 四、风险提示 截至本公告披露日，公司未发现影响本次业绩预告内容准确性的重大不确定 因素。 五、其他说明事项 本公告所载预计财务数 ...

Group 1 - The core viewpoint of the news is that Zhejiang Haizheng Biomaterials Co., Ltd. is experiencing a decline in both revenue and net profit, alongside notable changes in shareholder structure and financing activities [1][2]. Group 2 - On January 26, Haizheng Biomaterials' stock fell by 1.45%, with a trading volume of 38.68 million yuan. The financing buy-in amount was 4.03 million yuan, while the financing repayment was 4.27 million yuan, resulting in a net financing buy of -0.24 million yuan [1]. - As of January 26, the total margin trading balance for Haizheng Biomaterials was 54.57 million yuan, accounting for 3.24% of its market capitalization, which is above the 70th percentile of the past year [1]. - The company specializes in the research, production, and sales of polylactic acid, with its main revenue sources being pure polylactic acid (78.55%), modified polylactic acid (20.50%), and others (0.96%) [1]. - As of September 30, the number of shareholders decreased by 10.22% to 6,695, while the average circulating shares per person increased by 17.43% to 18,538 shares [2]. - For the period from January to September 2025, Haizheng Biomaterials reported a revenue of 621 million yuan, a year-on-year decrease of 5.74%, and a net profit attributable to shareholders of 4.91 million yuan, down 85.34% year-on-year [2]. - The company has distributed a total of 42.49 million yuan in dividends since its A-share listing [2]. - Notable changes in institutional holdings include new entries from several funds, with the top ten circulating shareholders now including new investors such as招商均衡优选混合A and招商品质发现混合A [2].

Core Viewpoint - The company, Haizheng Biomaterials, specializes in resin-based polylactic acid (PLA) and has obtained various international certifications, indicating its commitment to product safety and compliance in global markets [1]. Group 1: Product and Certifications - The main product of the company is resin-based polylactic acid [1]. - The company has achieved FDA food contact safety certification in the United States, compliance certification in Japan, and has completed REACH registration in the European Union [1]. Group 2: Market and Sales - The company's products are exported overseas, including to EU countries [1]. - Sales in Europe are primarily conducted through direct sales to major clients and distribution via dealers, with revenue from this region accounting for a relatively low proportion of the company's total operating income [1].

Core Viewpoint - The company focuses on the research, production, and sales of polylactic acid (PLA) materials, highlighting the superior performance of its high-purity PLA resin in various applications [2]. Group 1: Company Focus - The company specializes in the development of polylactic acid materials [2]. - The high-purity PLA resin produced by the company is noted for its excellent performance [2]. - Applications of the company's PLA resin include fiber spinning, 3D printing, and injection molding [2]. Group 2: Market Applications - Currently, the company has not ventured into the medical applications of polylactic acid materials [2].

Core Viewpoint - The company's performance is under pressure despite rapid growth in the 3D printing market due to multiple factors including declining product prices, slow demand growth in traditional application areas, and intensified industry competition [2] Group 1: Company Performance - The company's performance is primarily affected by a decline in product prices [2] - There is a slow growth in demand within traditional application areas [2] - Increased competition in the industry is contributing to the company's performance challenges [2] Group 2: Market Opportunities - The company is experiencing rapid sales growth in the 3D printing sector, which does not contradict its overall performance issues [2] - The company aims to drive long-term sustainable development through product innovation, market expansion, and leveraging policy and technological opportunities [2]