三元股份：预计去年营收63.5亿元左右，实际经营质量大幅提升

Core Viewpoint - The company is expected to report significant losses in 2025 due to impairment related to its investment in French HCo, but operational performance is projected to improve substantially when excluding this factor [1][2] Group 1: Financial Performance - The company anticipates a net profit attributable to shareholders of between -356 million yuan and -178 million yuan for 2025 [1] - The expected net profit attributable to the parent company, excluding non-recurring gains and losses, is projected to be between -376 million yuan and -198 million yuan [1] - In contrast, when excluding the impact of the impairment, the company expects a net profit attributable to shareholders of between 260 million yuan and 318 million yuan for 2025 [1] Group 2: Revenue Expectations - The company forecasts an operating revenue of approximately 6.35 billion yuan for 2025, indicating a year-on-year decline [2] - However, when excluding the impact of the impairment on the investment in French HCo, the company expects a year-on-year net profit growth of 374% to 480% for 2025 [2] - The projected growth for the net profit attributable to the parent company, excluding non-recurring gains and losses, is estimated to be between 705% and 899% year-on-year [2]