ZJJF(SH:600668) Ge Long Hui·2026-01-27 08:33Core Viewpoint - The company expects a significant increase in net profit attributable to shareholders for the year 2025, while the net profit excluding non-recurring gains and losses is projected to decrease substantially [1][2]. Group 1: Financial Projections - The company anticipates achieving a net profit of approximately 460 million yuan for the year 2025, which represents an increase of about 352 million yuan, or a growth of approximately 325.97% compared to the previous year [1]. - The expected net profit attributable to shareholders, excluding non-recurring gains and losses, is projected to be around -21.5 million yuan, indicating a decrease of about 31.2 million yuan, or a decline of approximately 322.53% year-on-year [1]. Group 2: Reasons for Performance Changes - The significant increase in net profit is primarily due to the equity method accounting for the joint venture Tian Shili Biological Pharmaceutical Industry Group Co., Ltd., which sold its equity assets, resulting in substantial profit growth from non-recurring gains [2]. - The company has been actively implementing energy-saving and consumption-reduction modifications and strictly controlling product costs; however, the prices and sales volumes of cement and clinker products have decreased year-on-year [2]. - The pharmaceutical segment has faced challenges due to policies such as drug procurement and price reductions, as well as a continuous decline in pesticide market prices, leading to decreased prices and sales volumes of major products [2]. - The company’s subsidiary, Zhejiang Jianfeng Pharmaceutical Co., Ltd., has terminated the clinical trial and subsequent development of the injectable deoxynojirimycin project, resulting in a full impairment provision of 18.2141 million yuan for the development costs, which will reduce the total profit for 2025 [2].