滨海能源：预计2025年净利润为负值

Core Viewpoint - The company expects a negative net profit for the fiscal year 2025, with a projected net profit attributable to shareholders ranging from -98 million to -69 million yuan, compared to -28.13 million yuan in the same period last year [1] Financial Performance - The expected net profit excluding non-recurring gains and losses is projected to be between -96 million and -67 million yuan, down from -28.02 million yuan in the previous year [1] - The company is facing high fixed asset depreciation and labor costs, which, along with rising prices of upstream raw materials such as petroleum coke and calcined coke, have led to a decline in gross profit margin [1] Industry Position - The company's capacity for negative electrode materials is still small and has not yet fully ramped up, indicating a nascent position in the new energy negative electrode materials industry [1] - The company has only recently entered the new energy negative electrode materials sector, and the construction of production lines and working capital has primarily been funded through debt, resulting in high financial expenses during the reporting period [1] Project Development - The company's subsidiary in Baotou has not advanced its crystalline silicon photovoltaic business construction project, and as a precaution, it has made provisions for impairment on related construction projects [1]