万孚生物2025年净利润预减约九成 海外业务或支撑未来增长

Core Viewpoint - Guangzhou Wondfo Biotech Co., Ltd. (Wondfo Biotech) is expected to report a significant decline in net profit for 2025, with projections indicating a drop of 91.81% to 87.71% year-on-year, marking the worst performance since its listing in 2015 [1][2] Group 1: Financial Performance - The forecasted net profit attributable to shareholders for 2025 is estimated to be between 46 million to 69 million yuan, with a net profit excluding non-recurring gains and losses expected to be between -15 million to -7.5 million yuan [1] - The company's revenue has been declining, with first quarter, half-year, and third quarter revenues reported at approximately 800 million yuan, 1.246 billion yuan, and 1.69 billion yuan, reflecting year-on-year decreases of 7.06%, 20.92%, and 22.52% respectively [3] - The net profit attributable to shareholders for the first three quarters of 2025 was approximately 189 million yuan, 189 million yuan, and 134 million yuan, showing year-on-year declines of 13.37%, 46.82%, and 69.32% respectively [3] Group 2: Business Operations - The decline in domestic revenue is attributed to a combination of VAT rate adjustments and the impact of medical industry policies, which have pressured both volume and pricing [2] - Despite domestic challenges, the overseas market is performing steadily, providing crucial support for the company's sustainable growth [2][4] - Wondfo Biotech has been expanding its international market presence, establishing subsidiaries in Russia and the Philippines, and enhancing its product offerings in the North American market [4] Group 3: Research and Development - The company has maintained high R&D expenditures, with investments reaching 265 million yuan in the first three quarters of 2025 [4] - New products, including various diagnostic kits, have been successfully registered and launched, contributing to the company's innovation strategy [4][5] - Wondfo Biotech aims to leverage favorable policies and existing AI developments to commercialize advancements in pathology and clinical diagnostics [4]