山鹰国际2025年业绩预亏 主动调整经营策略夯实安全底线

Core Viewpoint - Company expects a net loss of 850 million to 1 billion yuan for 2025, indicating an expansion in loss compared to the previous year [1] Group 1: Financial Performance - Company reported a decrease in gross profit margin due to credit impairment before the maturity of convertible bonds, which pressured short-term profit margins [1] - Financial expenses decreased by 23.38% year-on-year, and operating net cash flow remained healthy at 2.125 billion yuan [2] Group 2: Strategic Adjustments - Company is actively adjusting its operational strategy, focusing on synchronizing production and sales in the paperboard sector [1] - Management emphasizes "exchanging profit for safety" to ensure cash flow security during the critical period of bond repayment [1] Group 3: Future Development - Company aims to accelerate its transition to high-end manufacturing, particularly through the implementation of high-end fiber wood pulp projects to enhance cost competitiveness [2] - A new partnership, Wuhu Shengying Enterprise Management Consulting Partnership, was established with a total investment of 2.977 billion yuan, aimed at resource integration and structural optimization [3]