华神科技业绩预亏

Core Viewpoint - Huasheng Technology (000790) is expected to report another year of net profit loss in 2025, following a loss in 2024, prompting the company to propose a private placement to raise up to 450 million yuan for liquidity support and debt repayment [1][3]. Group 1: Financial Performance - For the first three quarters of 2025, Huasheng Technology reported an operating income of approximately 457 million yuan, a year-on-year decrease of 31.02% [2]. - The net profit attributable to shareholders for the same period was approximately -97.79 million yuan, marking a shift from profit to loss compared to the previous year [2]. - The company has experienced a continuous decline in net profit from 2022 to 2024, with reported figures of approximately 41.22 million yuan, 27.66 million yuan, and -6.69 million yuan respectively [2]. Group 2: Strategic Adjustments - The decline in net profit is attributed to several factors, including a decrease in the listed price of the core product Sanqi Tongshu Capsule due to centralized procurement, leading to reduced revenue and profit contributions [2]. - The company has decided to scale down its construction steel structure business to concentrate resources on its core advantageous businesses, resulting in a decrease in output and profit contributions from that segment [2]. - Huasheng Technology has also disposed of its equity in Tibet Kangyu, which negatively impacted its revenue and profit in the short term [2]. Group 3: Fundraising and Financial Stability - On January 24, Huasheng Technology announced a plan to issue A-shares to specific investors, aiming to raise no more than 450 million yuan, which will be used entirely for liquidity support and debt repayment after deducting issuance costs [3]. - As of the end of the third quarter of 2025, the company had cash and cash equivalents of only 149 million yuan, while current liabilities reached 800 million yuan [3]. - The proposed fundraising is expected to improve the company's financial stability by increasing total assets and net assets, reducing the debt-to-asset ratio, and enhancing the company's capital structure [3].