航发控制(000738.SZ)：预计2025年净利润同比下降52.02%～58.02%

Core Viewpoint - The company,航发控制, expects a decline in revenue and net profit for 2025 compared to the previous year, indicating challenges in financial performance due to various factors [1][2]. Financial Performance - The projected operating revenue for 2025 is between 515.6 million and 520 million yuan, representing a decrease of 5.13% to 5.93% year-on-year [1]. - The net profit attributable to shareholders is expected to be between 31.5 million and 36 million yuan, reflecting a significant decline of 52.02% to 58.02% compared to the same period last year [1]. - The net profit after deducting non-recurring gains and losses is projected to be between 31 million and 35.5 million yuan, indicating a decrease of 51.07% to 57.27% year-on-year [1]. Factors Influencing Performance - The decline in net profit is attributed to product price tax reform policies, adjustments in product prices within the industry, and a significant increase in taxes and additional charges [2]. - Increased resource investment in emerging strategic industries such as general aviation and commercial aviation has led to a rise in related costs and expenses [2]. Strategic Measures - The company plans to focus on its military product main business, accelerating the development of key models and enhancing independent innovation capabilities [2]. - There is an emphasis on meeting product delivery and improving quality assurance capabilities, with accelerated construction of fundraising projects to enhance R&D, advanced manufacturing, and comprehensive supporting capabilities [2]. - The company aims to leverage its technological advantages in its main business to optimize industrial layout and expand into new economic growth areas, including commercial power, general aviation power, and control systems [2]. - Continuous cost engineering efforts will be made, focusing on design improvements, quality enhancement, key technology breakthroughs, and supply chain management to enhance the technical and cost competitiveness of the company's products [2].