四方新材：预计2025年全年净亏损3.00亿元

Core Viewpoint - The company Sifang New Materials is forecasting a significant decline in net profit for the year 2025, primarily due to adverse market conditions in the real estate sector in Chongqing, which has led to reduced demand for ready-mixed concrete products [1] Group 1: Financial Forecast - The company expects a net profit attributable to shareholders of approximately -300 million yuan for 2025, representing a year-on-year decrease [1] - The net profit after deducting non-recurring gains and losses is projected to be around -320 million yuan for the same period [1] Group 2: Market Conditions - The primary sales market for the company's ready-mixed concrete is Chongqing, where the real estate sector has experienced a downturn, with new construction area declining by 29.4% from January to December 2025 [1] - This decline in the real estate market has significantly reduced the demand for the company's products, leading to lower-than-expected overall sales [1] Group 3: Cost and Profitability Issues - The decrease in the gross profit margin for ready-mixed concrete is attributed to the decline in raw material costs not keeping pace with the drop in sales prices, negatively impacting the company's profitability [1] Group 4: Asset and Credit Impairments - The company anticipates a reversal of deferred tax assets due to insufficient taxable income during the allowable deduction period, which will negatively affect net profit [1] - The company has recognized asset impairment losses due to underperformance of acquired subsidiaries and indications of impairment in goodwill and fixed assets [1] - Credit impairment losses have been recognized as a result of liquidity issues faced by downstream enterprises, leading to delays in the collection of accounts receivable [1]