LFD(SH:600149) Sou Hu Cai Jing·2026-01-18 03:42Core Viewpoint - The company Langfang Development (600149) is expected to see a significant decline in net profit for the year 2025, projecting a net profit of approximately 14 million CNY, which represents a decrease of about 83.52% compared to the previous year [1][4]. Financial Performance - The projected net profit for 2025 is approximately 14 million CNY, down from a profit of 84.93 million CNY in 2024, primarily due to the absence of non-recurring gains from asset disposals that contributed about 73 million CNY to the 2024 profit [1][4]. - The net profit excluding non-recurring items for 2025 is expected to be around 13.4 million CNY, reflecting an increase of approximately 35.68% compared to the previous year [1]. - In the first three quarters of 2025, the company reported total operating revenue of 11 million CNY, a decline of 63.12% year-on-year, and a net profit attributable to the parent company of 109.78 thousand CNY, down 98.43% year-on-year [4]. Historical Financial Trends - From 2022 to 2024, the company experienced a "V-shaped" recovery in net profit, moving from consecutive losses to a profit of 84.93 million CNY in 2024, largely driven by one-time asset disposals [4]. - The company’s asset disposals in 2024 generated additional business income of 186 million CNY, contributing significantly to the net profit [8]. Legal Risks - The company is currently facing significant litigation risks, with a lawsuit involving a debt dispute that could result in a potential liability of approximately 48.9 million CNY [9]. - The lawsuit pertains to a claim by Beijing Tiandi Jiahe Real Estate Development Co., Ltd. against a subsidiary of the company, which has been ordered to pay damages due to a court ruling [9]. Market Performance - As of January 16, the company's stock closed at 5.22 CNY per share, reflecting a slight increase of 0.19%, with a total market capitalization of approximately 1.984 billion CNY [10][11].