西宁特钢(600117.SH)发预亏，预计2025年度归母净亏损8.75亿元

Core Viewpoint - Xining Special Steel (600117.SH) forecasts a net profit attributable to shareholders of approximately -875 million yuan for the year 2025, with a net profit of about -949 million yuan after deducting non-recurring gains and losses [1] Industry Summary - The steel industry continues to experience deep adjustments, remaining in a phase of "reduction in development and optimization of existing capacity," with persistent supply-demand contradictions [1] - Companies within the industry are generally under operational pressure due to the challenging market environment [1] Company Summary - In response to the complex market conditions, the company is actively adapting and overcoming challenges by aligning closely with market demand and implementing cost reduction and efficiency improvement measures [1] - The company achieved a steel production volume of 1.55 million tons and a steel product output of 1.51 million tons in 2025, reflecting a year-on-year increase of 11% in both steel and steel products, indicating a steady rise in production scale [1] - Despite the increase in production, the company anticipates a loss in operating performance due to ongoing weak downstream demand in the steel industry and prolonged low prices in the steel market, compounded by inventory write-downs related to social responsibility projects undertaken by its subsidiary [1]