Core Viewpoint - The company, HeTai Machinery (001225.SZ), expects a significant decline in net profit for 2025, projecting a range of 32 million to 40 million yuan, which represents a decrease of 30.48% to 44.38% compared to the previous year [1] Group 1: Financial Performance - The company anticipates a net profit attributable to shareholders of 32 million to 40 million yuan for 2025, a decline of 30.48% to 44.38% year-on-year [1] - The net profit after deducting non-recurring gains and losses is expected to be between 23.46 million and 31.46 million yuan, reflecting a decrease of 37.58% to 53.45% compared to the same period last year [1] Group 2: Operational Challenges - The company is actively responding to market challenges by increasing efforts in domestic and international market expansion, maintaining stable revenue year-on-year during the reporting period [1] - The company faces pressure on operating performance due to increased competition leading to a decline in gross margin, along with rising depreciation and energy costs from the launch of smart factories, increased inventory impairment provisions, foreign exchange losses, and reduced cash management income [1] Group 3: Incentive Plan and Non-recurring Gains - The company has recognized share-based payment expenses of approximately 2.8753 million yuan due to the implementation of the 2025 restricted stock incentive plan, which impacts net profit [1] - Preliminary estimates indicate that non-recurring gains and losses will affect net profit by approximately 8.54 million yuan, primarily from investment income from financial products and government subsidies, compared to 7.1386 million yuan in the previous reporting period [1]
和泰机电：预计2025年净利润同比下降30.48%–44.38%