东岳硅材(300821.SZ)：预计前三季度净利润同比下降96.27%—97.4%

Core Viewpoint - Dongyue Silicon Materials (300821.SZ) expects a significant decline in net profit for the first three quarters, with projections of 2.3 million to 3.3 million yuan, representing a decrease of 96.27% to 97.40% year-on-year, primarily due to market conditions and operational disruptions [1] Group 1: Financial Performance - The company anticipates a net profit attributable to shareholders of 2.3 million to 3.3 million yuan, a decline of 96.27% to 97.40% compared to the same period last year [1] - The net profit after deducting non-recurring gains and losses is projected to be between 11.3 million and 12.3 million yuan, reflecting a decrease of 87.10% to 88.14% year-on-year [1] Group 2: Operational Challenges - The decline in sales revenue and gross margin is attributed to the fluctuating prices of silicone products in the market [1] - A fire incident at the company's synthetic phase B facility on July 20, 2025, led to production suspension, adversely affecting third-quarter performance [1] - The company is implementing a comprehensive rectification plan to enhance safety levels and aims to complete the upgrade of the 300,000 tons/year silicone monomer and 200,000 tons/year downstream product processing project by the end of 2025 [1] Group 3: Non-Recurring Gains and Losses - The impact of non-recurring gains and losses on net profit is estimated to be around 9 million yuan, mainly from the disposal of non-current assets and government subsidies [1]