富岭股份(001356.SZ)：预计2025年净利润同比下降55.02%-64.11%

Core Viewpoint - The company, Fuling Co., Ltd. (001356.SZ), expects a significant decline in net profit for 2025, projecting a range of 79 million to 99 million yuan, which represents a decrease of 64.11% to 55.02% compared to the previous year [1] Group 1: Financial Performance - The net profit attributable to shareholders is projected to be between 79 million and 99 million yuan, reflecting a decline of 64.11% to 55.02% year-on-year [1] - The net profit after deducting non-recurring gains and losses is expected to be between 77 million and 97 million yuan, indicating a decrease of 64.54% to 55.33% compared to the same period last year [1] Group 2: Operational Challenges - In the first half of 2025, the company faced a decline in sales volume and revenue due to increased tariffs imposed by the U.S. on various regions globally [1] - To adapt to external environmental changes, the company is accelerating the construction of a new production base in Indonesia to accommodate the production capacity previously directed towards exports to the U.S. [1] - By July 2025, the new production base in Indonesia is expected to achieve partial production, although initial production efficiency is still ramping up, leading to increased fixed costs and depreciation that pressure current profits [1] Group 3: Cost Pressures - The company has recruited a large number of production employees in Indonesia to support the new production base, along with sending skilled maintenance and workshop management personnel from its headquarters in China, resulting in a significant increase in labor costs [1] - The company has incurred substantial foreign exchange losses due to currency fluctuations since 2025, contrasting with foreign exchange gains in the same period of 2024, negatively impacting current net profit [1] Group 4: Summary of Factors Affecting Performance - The decline in revenue and gross profit is attributed to changes in tariff policies affecting the U.S., initial cost pressures from the new Indonesian production base, rising labor costs, and adverse effects from currency fluctuations [1]