汉马科技(600375.SH)：预计2025年净利润同比减少68%左右

Core Viewpoint - Hanma Technology (600375.SH) expects a significant decrease in net profit for 2025, projecting a net profit of approximately RMB 50 million, a decrease of about RMB 107 million or 68% compared to the previous year [1] Financial Projections - The company anticipates a net profit attributable to shareholders, excluding non-recurring gains and losses, of approximately RMB -66 million for 2025, which represents an improvement of RMB 101.2 million compared to the previous year [1] - Expected operating revenue for 2025 is around RMB 660 million, reflecting an increase of approximately RMB 237 million or 56% year-on-year [1] Operational Context - The completion of the company's judicial reorganization in 2024 resulted in a significant reorganization gain of RMB 118.599 million, which has a substantial impact on profit metrics [1] - 2025 marks the first accounting year post-reorganization, during which the company is focused on optimizing operational efficiency, implementing cost reduction measures, and effectively controlling and saving on expenses [1] - The company has achieved year-on-year growth in product sales and operating revenue, with an increase in gross margin, all contributing positively to overall profit performance [1]