Swan Cotton Machinery(SH:603029) Zheng Quan Ri Bao·2026-01-26 23:11Core Viewpoint - The company expects a slight increase in net profit for 2025, while the net profit excluding non-recurring items is projected to decrease significantly compared to the previous year [2][4]. Financial Performance Forecast - The company anticipates a net profit attributable to shareholders of 70 million to 80 million yuan for 2025, representing an increase of 676,400 to 1,067,640 yuan, or a growth of 0.98% to 15.40% year-on-year [2][4]. - The expected net profit attributable to shareholders, excluding non-recurring items, is projected to be 35 million to 45 million yuan, which indicates a decrease of 1,155,630 to 2,155,630 yuan, or a decline of 20.43% to 38.11% year-on-year [2][4]. Previous Year Performance - In the previous year, the total profit was 72.32 million yuan, with a net profit attributable to shareholders of 69.32 million yuan and a net profit excluding non-recurring items of 56.56 million yuan [6]. Reasons for Performance Changes - The increase in net profit is attributed to the company's ongoing innovation-driven development strategy, focusing on both domestic and international markets, which has led to a significant rise in revenue from cotton harvesting machinery exports [8]. - Non-operating income has positively impacted net profit, primarily due to increased government subsidies and the recovery of certain cotton harvester mortgage guarantee payments [9].