SANYUAN(SH:600429)2026-01-16 11:20Financial Projections - The company expects a net profit attributable to shareholders for 2025 to be between -356 million yuan and -178 million yuan, with a net profit excluding non-recurring gains and losses expected to be between -376 million yuan and -198 million yuan [4]. - Excluding the impact of the impairment of the investment in HCo, the company anticipates a net profit attributable to shareholders of 260 million yuan to 318 million yuan, representing a year-on-year increase of 374% to 480% [5]. - The company projects total operating revenue for 2025 to be approximately 6.35 billion yuan, despite a year-on-year decline [9]. - The impairment of the investment in HCo is expected to reduce the book value of long-term equity investments by 496 million yuan to 616 million yuan [8]. - The performance forecast is unaudited and subject to final adjustments based on third-party assessments [10]. - The preliminary financial data provided is subject to confirmation in the official 2025 annual report [11]. Market Position - The company’s liquid milk market share in Beijing remains the highest, with over 50% market share in low-temperature fresh milk, which continues to grow [9]. - The company’s earnings per share for the previous year was 0.036 yuan, with a net profit attributable to shareholders of 54.81 million yuan [7]. Operational Strategy - The company is undergoing deep reforms and innovations to enhance operational management and achieve high-quality development [9]. - The company emphasizes the importance of investor awareness regarding potential risks due to the ongoing impairment testing [10].