美畅股份：2025年全年净利润同比预增51.18%—78.67%

Core Viewpoint - Meichang Co., Ltd. forecasts a significant increase in net profit for 2025, driven by operational improvements despite challenges in the diamond wire business due to market conditions and rising raw material costs [1] Financial Performance - The company expects net profit attributable to shareholders to be between 220 million and 260 million yuan, representing a year-on-year increase of 51.18% to 78.67% [1] - The net profit after deducting non-recurring gains and losses is projected to be between 165 million and 210 million yuan, indicating a year-on-year growth of 76.88% to 125.12% [1] Industry Challenges - The diamond wire business faces challenges due to weak demand in the downstream photovoltaic industry and a significant increase in the price of tungsten powder [1] Strategic Initiatives - The company is implementing technical upgrades to improve the yield of tungsten wire mother materials to reduce production costs [1] - Meichang Co., Ltd. is actively expanding its waste tungsten wire diamond wire recycling business to explore resource recycling value, contributing to the net profit growth [1]