恒而达：2025年全年净利润同比预减54.19%—57.62%

Core Viewpoint - The company expects a significant decline in net profit for 2025, projecting a decrease of 54.19% to 57.62% compared to the previous year, primarily due to increased strategic investments and associated costs [1] Group 1: Financial Performance - The projected net profit attributable to shareholders for 2025 is estimated to be between 37 million to 40 million yuan [1] - The projected net profit after deducting non-recurring gains and losses is also expected to be between 37 million to 40 million yuan, reflecting a decrease of 52.32% to 55.89% year-on-year [1] Group 2: Reasons for Performance Change - Strategic investments have led to a short-term increase in operating costs, with significant R&D and sales expenses rising due to enhanced focus on rolling functional components and high-precision CNC grinding machines [1] - The acquisition of SMS Maschinenbau GmbH, a leading global thread grinding company, has resulted in increased management costs due to one-time fees and expenses related to the acquisition [1] - The integration benefits from the SMS acquisition have not yet materialized, as the long production cycle of existing orders has delayed revenue recognition, while operational costs have been fully consolidated [1] - The company has prudently recognized impairment provisions for accounts receivable, inventory, and fixed assets, reflecting a cautious approach in light of industry trends and the early-stage nature of new business investments [1] Group 3: Future Outlook - The increased investments are expected to significantly enhance the company's technical capabilities in high-precision rolling components and CNC machine tools, laying a solid foundation for future business growth [1]