科思股份：2025年全年净利润同比预减78.67%—84.00%

Core Viewpoint - The company, Kosh Holdings, anticipates a significant decline in net profit for the year 2025, projecting a decrease of 78.67% to 84.00% compared to the previous year [1] Financial Performance - The expected net profit attributable to shareholders for 2025 is estimated to be between 90 million and 120 million yuan [1] - The projected net profit, excluding non-recurring gains and losses, is anticipated to be between 85 million and 115 million yuan, reflecting a year-on-year decrease of 78.31% to 83.97% [1] Market Conditions - The decline in profit is attributed to a slowdown in demand for sunscreen products and the downstream customers' efforts to digest previous inventory [1] - The market price of sunscreen products has decreased compared to the same period last year due to increased competition and customer inventory reduction [1] Non-Recurring Gains and Losses - For the year 2025, the impact of non-recurring gains and losses on the company's net profit is estimated to be around 5 million yuan, primarily from government subsidies and the disposal of non-current assets [1]