青龙管业：2025年全年净利润同比预减32.77%—53.31%

Core Viewpoint - Qinglong Pipe Industry is forecasting a significant decline in net profit for the year 2025, with estimates indicating a decrease of 32.77% to 53.31% compared to the previous year [1] Financial Performance - The company expects the net profit attributable to shareholders to be between 125 million and 180 million yuan for 2025 [1] - The net profit after deducting non-recurring gains and losses is projected to be between 117 million and 170 million yuan, reflecting a year-on-year decrease of 30.92% to 52.46% [1] Industry Impact - The decline in performance is attributed to a phase adjustment within the industry, leading to a decrease in order volume and overall shipment compared to the same period last year [1] - Revenue is expected to decrease year-on-year due to the reduced order volume and shipment [1] Cost Structure - The gross profit margin has declined compared to the previous year, primarily due to changes in the sales structure of the company's products [1] - Increased investment in market promotion, talent acquisition, and channel development has led to a rise in management costs and an increase in the expense ratio [1]