康华生物：2025年营收下滑，净利润同比降超4成

Core Viewpoint - The company announced a significant decline in net profit for 2025, attributed to industry policy adjustments and increased market competition affecting vaccine sales revenue [1] Financial Performance - The net profit attributable to shareholders is projected to be between 191 million to 233 million yuan, representing a year-on-year decrease of 41.55% to 52.09% [1] - The non-recurring net profit is expected to range from 208 million to 230 million yuan, reflecting a year-on-year decline of 49.73% to 54.54% [1] Revenue Impact - Vaccine sales revenue is anticipated to decrease by approximately 11% due to market competition and policy changes [1] - The company will not obtain overseas authorized phased revenue in 2025, which contributed 90 million yuan to profits in the same period last year [1] Future Reporting - Detailed financial performance will be disclosed in the company's 2025 annual report [1]