huahaipharm(SH:600521) Ge Long Hui A P P·2026-01-26 10:03Core Viewpoint - Huahai Pharmaceutical (600521.SH) expects a significant decline in net profit for the fiscal year 2025, with projections indicating a decrease of approximately 70% to 80% compared to the previous year [1] Financial Performance - The estimated net profit attributable to shareholders for 2025 is projected to be between 224 million and 335 million yuan [1] - The estimated net profit excluding non-recurring gains and losses is expected to be between 113 million and 226 million yuan, reflecting a decline of about 80% to 90% year-on-year [1] Business Challenges - Domestic formulation business faces pressure from expanded domestic centralized procurement policies, leading to intensified price competition and a decline in sales revenue [1] - The raw material pharmaceutical industry is experiencing severe competition due to overcapacity and price pressures, with new product development facing delays, resulting in decreased sales revenue [1] - Increased investment in the research and development of innovative biological drugs has led to a significant rise in R&D expenses [1] Non-Operating Gains - Non-operating gains increased by approximately 100 million to 130 million yuan, primarily due to fair value changes in financial assets and gains from the sale of partial equity [1]