中再资环(600217) - 2025 Q2 - 季度业绩预告

Zhongzai Resources Environment Co., Ltd. 2025 H1 Earnings Forecast Current Period Earnings Forecast The company forecasts a net loss for H1 2025, with net profit attributable to shareholders projected between -350 million and -180 million RMB | Metric | Projected Amount (RMB) | | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | -350 million to -180 million | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-recurring Items) | -360 million to -190 million | Prior Year Period Performance Review The company was profitable in H1 2024, with a net profit attributable to shareholders of 162.21 million RMB and an EPS of 0.1168 RMB | Metric | H1 2024 Amount (RMB) | | :--- | :--- | | Total Profit | 201.58 million | | Net Profit Attributable to Parent Company Shareholders | 162.21 million | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-recurring Items) | 156.09 million | | Earnings Per Share (EPS) | 0.1168 | Analysis of Main Reasons for the Forecasted Loss The forecasted loss is mainly due to major adjustments in national subsidy policies for waste appliance disposal, leading to retroactive write-downs - A significant reduction in national subsidies for processing waste electrical and electronic equipment is the direct cause of the forecasted loss[5] - The company has adjusted its recognized subsidy income for FY2024 and H1 2025 based on the new policy, resulting in a corresponding adjustment to accounts receivable as of June 2025[5] Other Explanations and Countermeasures The company expects to receive some funds under old and new subsidy schemes, improving cash flow, and is taking steps to enhance operational efficiency - The company expects to receive RMB 501 million in subsidies under the original fund system, and new 'reward-based subsidies' will be disbursed within the year, which will improve operating cash flow[6] - The company has pre-communicated the earnings forecast with its annual audit firm, and no disagreements exist[6] - To address policy changes, the company plans to enhance internal controls, refine operations, optimize cost structures, and increase the value of dismantled products to improve operational efficiency[7] Risk Warning The company cautions that these forecast figures are preliminary and the final, accurate data will be in the official H1 2025 report - The data in this earnings forecast is preliminary; final financial data will be subject to the officially disclosed semi-annual report[8]