梅雁吉祥(600868.SH)：2025年预亏8000万元至9800万元

Core Viewpoint - The company Meiyan Jixiang (600868.SH) is expected to report significant losses in 2025, with projected net profit attributable to shareholders ranging from -98 million to -80 million yuan, indicating a challenging financial outlook for the company [1] Financial Projections - The estimated net profit for 2025 is projected to be between -98 million and -80 million yuan, with the net profit after deducting non-recurring gains and losses expected to be between -100 million and -82 million yuan [1] - The anticipated operating revenue for 2025 is estimated to be between 350 million and 370 million yuan, while the revenue after excluding unrelated business income and income lacking commercial substance is projected to be between 330 million and 350 million yuan [1] Reasons for Performance Decline - The primary reasons for the expected performance decline include intensified competition in the geographic information industry leading to an overall decrease in gross margins, as well as lower-than-expected collection of accounts receivable resulting in credit impairment losses [1] - Additionally, the impairment of assets related to the shutdown and dismantling of the kiln and other main equipment at the company's subsidiary, Meizhou Meiyan Xuan Kiln Cement Co., Ltd., has contributed to the anticipated losses [1]