康华生物(300841.SZ)：预计2025年净利润同比下降41.55%～52.09%

Core Viewpoint - Kanghua Biotech (300841.SZ) expects a significant decline in net profit attributable to shareholders for 2025, forecasting a range of 191 million to 233 million yuan, representing a decrease of 41.55% to 52.09% compared to the previous year [1] Summary by Categories Financial Performance - The company anticipates a net profit of 208 million to 230 million yuan after excluding non-recurring gains and losses, which indicates a decline of 49.73% to 54.54% year-on-year [1] - Vaccine sales revenue is expected to decrease by approximately 11% compared to the same period last year, leading to a reduction in sales profit margin [1] Revenue Sources - In the previous year, the company received overseas licensing income of 106.24 million yuan from the six-valent norovirus vaccine, contributing a profit of 90.30 million yuan, which will not be replicated in the 2025 fiscal year due to the absence of overseas authorized phased income [1]