洪田股份：2025年净利润预降85.26%-90.17%

Core Viewpoint - Jiangsu Hongtian announced a significant decrease in expected net profit for 2025, projecting a decline of 90.17% to 85.26% compared to the previous year, primarily due to uncompleted equipment orders, asset impairment provisions, increased R&D investment in optical equipment, and reduced government subsidies [1] Financial Performance - The company expects a net profit attributable to shareholders of 11.5 million to 17.25 million yuan for 2025, down from 116.99 million yuan in the same period last year, indicating a substantial year-on-year decrease [1] - The projected non-recurring net profit for 2025 is expected to be between -4.1 million and -2.05 million yuan, compared to 77.73 million yuan in the previous year, reflecting a decline of 105.27% to 102.64% [1] Reasons for Performance Decline - The primary reasons for the performance decline include: - Incomplete final acceptance of certain equipment orders, leading to unrecognized revenue [1] - Provisions for impairment of related assets [1] - Increased R&D investment in the optical equipment sector [1] - Decrease in government subsidies received [1]