三元股份：2025年营收63.5亿左右，受参股企业减值影响或亏损

Core Viewpoint - The company expects a revenue of approximately 6.35 billion yuan in 2025, indicating a year-on-year decline due to impairment provisions related to its 49% stake in French HCo, leading to a significant reduction in long-term equity investments [1] Financial Performance Summary - The projected net profit attributable to the parent company for 2025 is expected to be between -356 million yuan and -178 million yuan, indicating a loss compared to the previous year [1] - The projected net profit excluding non-recurring items is expected to range from -376 million yuan to -198 million yuan, also reflecting a loss year-on-year [1] - Excluding the impact of the impairment, the expected net profit attributable to the parent company is forecasted to be between 260 million yuan and 318 million yuan, representing a year-on-year growth of 374% to 480% [1] - The expected net profit excluding non-recurring items is projected to be between 240 million yuan and 298 million yuan, showing a year-on-year increase of 705% to 899% [1] - The impairment testing is not yet completed, and final figures may vary [1]