海天股份(603759.SH)：预计2025年度净利润同比减少33.40%到45.54%

Core Viewpoint - The company, Haitian, expects a significant decline in net profit for the fiscal year 2025, with projections indicating a decrease of 33.40% to 45.54% compared to the previous year [1] Financial Performance - The projected net profit attributable to the parent company's shareholders for 2025 is estimated to be between 166 million to 203 million yuan [1] - The expected net profit, excluding non-recurring gains and losses, is forecasted to be between 140 million to 177 million yuan, reflecting a year-on-year decrease of 34.89% to 48.50% [1] Factors Influencing Performance - The decline in net profit is attributed to multiple factors, including increased difficulty in project payments from local governments, leading to a year-on-year increase in accounts receivable [1] - Revenue from certain sewage treatment projects has decreased due to not meeting the conditions for price adjustments [1] - The financial costs have risen due to the characteristics of the newly acquired new energy materials business, along with increased intermediary fees related to project acquisitions [1]