huahaipharm(SH:600521) Zheng Quan Zhi Xing·2025-07-14 10:13Core Viewpoint - Zhejiang Huahai Pharmaceutical Co., Ltd. is expected to report a significant decline in net profit for the first half of 2025, with estimates ranging from 374 million to 449 million yuan, representing a year-on-year decrease of approximately 40% to 50% [1][2] Financial Performance Summary - The estimated net profit attributable to shareholders for the first half of 2025 is projected to be between 374 million and 449 million yuan, a decrease of approximately 29.957 million to 37.457 million yuan compared to the same period last year [1][2] - The estimated net profit after deducting non-recurring gains and losses is expected to be between 0 and 420.85 million yuan, reflecting a year-on-year decline of approximately 45% to 55% [2] Previous Year Performance Comparison - In the same period last year, the net profit attributable to shareholders was 748.566 million yuan, and the net profit after deducting non-recurring gains and losses was 764.8527 million yuan [2] - The earnings per share for the previous year was 0.52 yuan [2] Reasons for Performance Change - The decline in net profit is primarily attributed to several factors: 1. Intensified competition in the raw material drug industry and the impact of domestic centralized procurement policies, leading to a decrease in sales revenue despite an increase in market share [2] 2. Increased investment in the research and development of innovative biological drugs, resulting in significantly higher R&D expenses [2] 3. Reduced foreign exchange gains due to currency fluctuations [2] - Non-operating gains and losses increased by approximately 50 million to 70 million yuan, mainly due to the increase in fair value changes of financial assets measured at fair value [2]