万盛股份：预计2025年半年度净利润同比减少56.15%至70.77%

Core Viewpoint - The company expects a significant decrease in net profit for the first half of 2025, with projections indicating a decline of 56.15% to 70.77% year-on-year [1] Financial Performance - The estimated net profit attributable to shareholders for the first half of 2025 is projected to be between 22 million to 33 million yuan [1] - After excluding non-recurring gains and losses, the expected net profit is forecasted to be between 19 million to 28 million yuan, reflecting a year-on-year decrease of 69.33% to 79.19% [1] Operational Challenges - The decline in net profit is primarily attributed to the company's wholly-owned subsidiary, Shandong Wansheng New Materials Co., Ltd., which is in the process of establishing a new production base [1] - The production capacity is still ramping up and has not yet fully realized economies of scale, leading to increased costs such as fixed asset depreciation and management expenses [1]