海新能科：2025年全年净亏损4.50亿元—6.40亿元

Core Viewpoint - Company expects a net loss of 450 million to 640 million yuan for the year 2025, with a projected net profit excluding non-recurring losses ranging from -770 million to -540 million yuan [1] Group 1: Financial Performance - The company's bioenergy segment revenue increased by approximately 580 million yuan, representing a year-on-year growth of about 46% due to rising product prices and capacity release [1] - The gross profit for the bioenergy segment increased by approximately 270 million yuan, leading to a turnaround from loss to profit, significantly enhancing operational efficiency [1] - The company anticipates asset impairment losses of around 250 million yuan for the reporting period, based on cautious principles and evaluations of inventory and fixed assets [1] Group 2: Market Environment - The global green energy policy environment continues to improve, with the EU and UK implementing regular biojet fuel (SAF) blending policies, and major economies like China, Japan, and South Korea clarifying their green transition paths [1] - The company successfully obtained approval for SAF product export in October 2025, marking a strategic breakthrough in its development [1] Group 3: Challenges in Other Segments - The company's environmental materials and chemical products business faced challenges due to cyclical adjustments in the petroleum refining and coal chemical industries, leading to a pressured market environment for catalyst and purification products [1] - The rapid expansion of capacity in the LNG and neopentyl glycol industries outpaced demand growth, exacerbating competition within the industry [1]