Core Viewpoint - Shengjingwei (603375.SH) expects a significant decline in net profit for the year 2025, primarily due to adverse market conditions in the civil explosives industry [1] Financial Performance - The company anticipates a net profit attributable to shareholders of the parent company ranging from 10 million to 15 million yuan for 2025, representing a decrease of 791.02 thousand to 1,291.02 thousand yuan compared to the previous year, which is a year-on-year decline of 34.53% to 56.35% [1] - The expected net profit after deducting non-recurring gains and losses is projected to be between -1.5 million and 3.5 million yuan, reflecting a reduction of 649.62 thousand to 1,149.62 thousand yuan year-on-year, equating to a decline of 64.99% to 115.01% [1] Industry Conditions - The sales volume of the company's main products remains stable, showing little change from the previous year; however, revenue and profit are declining [1] - The primary reasons for the downturn include weak market demand in the civil explosives sector, overcapacity, and intense competition, leading to a continuous downward trend in the economic performance of the industry and a decrease in the average price of main products [1]
盛景微：预计2025年净利润同比减少34.53%到56.35%