南方精工：预计2025年净利润同比增长1130%-1417%

Core Viewpoint - The company, Southern Precision (002553.SZ), expects a significant increase in net profit attributable to shareholders for 2025, while the net profit excluding non-recurring gains is projected to decline slightly [1] Financial Performance - The expected net profit attributable to shareholders for 2025 is between 300 million and 370 million yuan, representing a year-on-year growth of 1,130% to 1,417% [1] - The net profit attributable to shareholders, excluding non-recurring gains, is projected to be between 90 million and 106.5 million yuan, indicating a year-on-year decline of 16% to 1% [1] Factors Influencing Performance - The increase in net profit is primarily due to fair value assessments of investments, particularly in Jiangsu Pan-Asia Micro-Transparent Technology Co., Ltd., which is expected to contribute a fair value change gain of approximately 300 million to 320 million yuan to pre-tax profit [1] - The company has actively expanded its market presence and engaged in R&D innovation and technology iteration, leading to the development of new customers and products, which supports stable growth in its main business [1] Cost and Expense Trends - Despite the growth in sales, the company has experienced increases in R&D expenses, taxes, and asset impairment losses compared to the previous year [1]