芳源股份：2025年营收亏损但幅度较上年同期大幅收窄

Core Viewpoint - Fangyuan Co., Ltd. expects a significant reduction in net losses for the year 2025, projecting a net profit attributable to the parent company of between -120 million to -80 million yuan, compared to -427 million yuan in the same period last year [1] Financial Performance - The company anticipates a non-recurring net profit of between -117 million to -78 million yuan for 2025, down from -443 million yuan year-on-year [1] - The first half of 2025 is expected to show losses due to transformation and restructuring efforts, while the second half is projected to achieve profitability driven by the large-scale application of new technologies, increased product shipment volumes, and rising metal prices [1] Operational Factors - Factors contributing to the expected turnaround in the second half of 2025 include improved gross margins due to rising metal prices and a reduction in inventory write-down provisions [1]