博晖创新：预计2025年净亏损5900万元-1.17亿元

Core Viewpoint - The company, 博晖创新, is expected to report a net loss ranging from 117 million to 59 million yuan for 2025, with a non-recurring net loss estimated between 87 million and 44 million yuan, primarily due to declining revenues and increased competition in the market [1] Group 1: Financial Performance - The company's operating revenue has decreased year-on-year, leading to a significant decline in net profit attributable to shareholders [1] - The decline in revenue is attributed to the implementation of centralized procurement policies affecting the pricing of HPV products and a reduction in market demand for certain testing products [1] - The gross profit margin has decreased year-on-year due to intensified market competition in the biopharmaceutical sector, particularly for human albumin and intravenous immunoglobulin products [1] Group 2: Operational Challenges - A subsidiary, 博晖生物制药 (河北), incurred a compensation payment of 46 million yuan due to the termination of a business partnership [1] - Another subsidiary, 廊坊博晖, has resumed production but has not fully recovered in market sales, resulting in continued losses [1] - The company has made provisions for impairment on inventories and development expenditures related to HPV testing products due to significant price declines [1] Group 3: Non-Recurring Losses - The expected non-recurring losses for 2025 are estimated to be between 15 million and 30 million yuan, primarily due to the write-off of non-current assets, compensation payments, and government subsidies [1] - In the previous year, the non-recurring losses were reported at 308,380 yuan [1]