动力新科：预计2025年净利润27.52亿元至28.52亿元，同比扭亏

Core Viewpoint - The company expects to achieve a net profit attributable to shareholders of 2.752 billion to 2.852 billion yuan in 2025, marking a turnaround from losses in the previous year, primarily due to the restructuring of its subsidiary, SAIC Hongyan [1] Financial Performance - The net profit attributable to shareholders is projected to be between 2.752 billion and 2.852 billion yuan for 2025, indicating a significant recovery from previous losses [1] - The net profit excluding non-recurring gains and losses is expected to be between -843 million and -643 million yuan for 2025, reflecting ongoing challenges despite the overall profit turnaround [1] Subsidiary Restructuring - The turnaround in net profit is largely attributed to the restructuring of SAIC Hongyan, which was declared insolvent and underwent a court-approved reorganization plan in December 2025 [1] - The exclusion of SAIC Hongyan from the consolidated financial statements starting December 2025 is expected to generate a one-time equity disposal gain of approximately 3.367 billion to 3.467 billion yuan, which accounts for about 168% to 173% of the audited net profit attributable to shareholders for 2024 [1] Sales Performance - The company’s engine sales are projected to reach 178,300 units in 2025, representing a year-on-year growth of 22.32%, indicating strong performance in the engine business [1]