国信证券发布华康股份研报，2025年上半年业绩承压，静待舟山产能持续爬坡

Group 1 - The core viewpoint of the report is that Guokang Co., Ltd. (605077.SH) is rated as "better than market" due to its expected performance and strategic moves [2] - The company's net profit attributable to shareholders is projected to decline by 3.38% year-on-year in the first half of 2025, primarily due to increased depreciation from the Zhoushan Huakang Project's first phase capacity conversion [2] - The orderly commissioning of new capacity in Zhoushan is expected to significantly boost the company's performance [2] - The company plans to acquire Yuxin Sugar Alcohol through cash and equity, which will strengthen its leading position in the xylitol industry [2]