受益碳酸锂价格回暖，盐湖股份2025年净利润同比预增77.78%至90.65%

Core Viewpoint - Salt Lake Co. is expected to achieve significant growth in net profit for the year 2025, with a potential increase of up to 90.65% year-on-year, driven by stable business performance and favorable pricing trends in key products [2][3] Group 1: Financial Performance - The projected net profit attributable to shareholders for 2025 is estimated to be between 829 million and 889 million yuan, compared to 466.31 million yuan in the previous year, reflecting a year-on-year growth of 77.78% to 90.65% [2] - The net profit after deducting non-recurring gains and losses is expected to be between 823 million and 883 million yuan, up from 440.05 million yuan last year, indicating a growth of 87.02% to 100.66% [2] - The basic earnings per share are projected to be between 1.56 yuan and 1.69 yuan, compared to 0.8812 yuan per share in the previous year [2] Group 2: Growth Drivers - The company's main business has shown steady development, with an estimated production of approximately 4.9 million tons of potassium chloride and sales of about 3.81 million tons in 2025 [3] - The production of lithium carbonate is expected to be around 46,500 tons, with sales of approximately 45,600 tons [3] - The prices of potassium chloride products have increased compared to the previous year, while lithium carbonate prices have shown volatility but are gradually recovering in the second half of the year, contributing to the overall growth in performance [3] - The successful re-examination of high-tech enterprise qualifications has allowed the company to recognize deferred tax assets based on accounting standards, further enhancing net profit [3]