纳思达(002180) - 2025 Q2 - 季度业绩预告

Performance Forecast Overview The company forecasts a net loss for H1 2025, primarily due to a major asset sale's accounting impact, with core business profit projected at RMB 300-400 million 2025 H1 Performance Forecast | Item | Current Period (2025 H1) | Prior Year (2024 H1) | | :--- | :--- | :--- | | Net Profit Attributable to Shareholders | Loss: RMB 200 million - RMB 400 million | Profit: RMB 973.64 million | | Net Profit Excluding Non-Recurring Items | Loss: RMB 100 million - RMB 200 million | Profit: RMB 623.52 million | | Basic Earnings Per Share | Loss: RMB 0.1406/share - RMB 0.2813/share | Profit: RMB 0.6891/share | - The shift from profit to loss is primarily due to the accounting treatment of a major asset sale[2][6] - Excluding this one-off impact, the company expects net profit attributable to shareholders to be RMB 300 million to RMB 400 million[2][6] Performance Changes and Segment Business Review Performance changes reflect varied segment results, including printer revenue growth with profit decline, integrated circuit pressure offset by non-consumable chip growth, and a sharp drop in general consumables profit Printer Business (Pantum) In H1 2025, Pantum's printer business saw revenue grow by 10% to approximately RMB 2.309 billion, but net profit declined 16% to RMB 324 million, despite a strong Q2 recovery and robust growth in Xinchuang and A3 copier markets Pantum Business H1 2025 Key Data | Indicator | 2025 H1 | Year-over-Year Change | | :--- | :--- | :--- | | Operating Revenue | Approx. RMB 2.309 billion | +10% | | Net Profit | Approx. RMB 324 million | -16% | | Overall Printer Sales Volume | - | -5% | - Q2 performance significantly improved quarter-over-quarter: revenue increased by 33%, net profit by 136%, and printer sales by 24%[5] - Strong growth in segmented markets: Xinchuang market printer sales grew 65% year-over-year in H1, and A3 copier sales increased by 115%[5] Integrated Circuit Business (Geehy Semiconductor) In H1 2025, Geehy Semiconductor's revenue fell 18% to RMB 556 million and net profit dropped 94% to RMB 18 million, yet non-printer consumable chips (industrial control, automotive) saw strong growth, with Q2 showing clear signs of recovery Geehy Semiconductor Business H1 2025 Key Data | Indicator | 2025 H1 | Year-over-Year Change | | :--- | :--- | :--- | | Operating Revenue | Approx. RMB 556 million | -18% | | Net Profit | Approx. RMB 18 million | -94% | | Total Chip Shipments | 293 million units | +16% | - Non-consumable chip business (industrial control, automotive, etc.) achieved strong counter-cyclical growth, with H1 revenue of approximately RMB 254 million, up 52% year-over-year, and sales volume of approximately 182 million units, up 47%[5] - Q2 saw quarter-over-quarter recovery: total revenue grew 19%, total shipments increased 34%, with non-consumable chip sales growing 50% quarter-over-quarter[6] Printer General Consumables Business In H1 2025, the general consumables business maintained stable revenue and sales volume at approximately RMB 2.7 billion, but net profit significantly declined by 61% to about RMB 30 million General Consumables Business H1 2025 Key Data | Indicator | 2025 H1 | Year-over-Year Change | | :--- | :--- | :--- | | Operating Revenue | Approx. RMB 2.7 billion | Flat | | Net Profit | Approx. RMB 30 million | -61% | | Total Sales Volume | - | Flat | Impact of Major Asset Sale The completed sale of a major asset (Lexmark) on July 1, 2025, significantly impacted the current period's net profit and non-recurring net profit attributable to shareholders due to preliminary accounting treatment, causing the reported loss - The major asset sale was completed on July 1, 2025, and its accounting treatment significantly impacted the net profit for the current period[6] - Excluding this impact, net profit attributable to shareholders from the company's core businesses is projected to be RMB 300 million to RMB 400 million[6] Other Explanations and Risk Warnings The company emphasizes that this performance forecast is preliminary and subject to adjustment due to ongoing review of the Lexmark sale's final settlement funds, advising investors to exercise caution - This performance forecast data is a preliminary estimate and has not been audited by an accounting firm[3][7] - The review of settlement funds for the sale of 100% equity in Lexmark International is ongoing, and the final settlement amount may be adjusted, potentially affecting the accuracy of this performance forecast[7][8] - The company advises that if the final financial data significantly differs from the forecast, a revised disclosure will be made promptly, urging investors to make cautious decisions[8]