Namchow Food(SH:605339) Xin Lang Cai Jing·2026-01-20 10:39Core Viewpoint - Nanchao Food (605339.SH) expects a significant decline in net profit for the year 2025, with projections indicating a decrease of 78.39% to 81.99% compared to the previous year [1] Financial Performance - The company anticipates a net profit attributable to shareholders ranging from 36.26 million to 43.52 million yuan for 2025 [1] - The expected net profit after deducting non-recurring gains and losses is projected to be between 30.88 million and 37.05 million yuan, reflecting a year-on-year decrease of 79.71% to 83.09% [1] Cost and Margin Analysis - The primary reason for the significant decline in performance is attributed to the increase in prices of major raw materials, leading to higher production costs and a decrease in overall gross margin and net margin [1] - The revenue share from high-margin products, specifically baking oils, has decreased, further exerting pressure on the overall gross margin [1] Raw Material Price Trends - In 2025, palm oil prices are expected to fluctuate significantly, with a notable increase compared to 2024 despite a recent decline [1] - Coconut oil prices have been on a continuous upward trend, reaching historical highs [1] - The prices of imported natural cream and dairy products have also increased significantly year-on-year, compounded by adverse effects from euro exchange rates, intensifying cost pressures [1]