Polyrocks(SH:688669) Ge Long Hui·2026-01-29 09:52Core Viewpoint - The company, 聚石化学 (688669.SH), is expected to report a negative net profit attributable to shareholders of the parent company for the year 2025, estimated between -1.2 billion to -900 million yuan, with a net profit excluding non-recurring gains and losses projected to be between -1.55 billion to -1.25 billion yuan [1] Group 1: Performance Changes - The main reasons for the performance changes include the divestment of 冠臻科技, which resulted in receiving some performance compensation and the consolidation or deregistration of underperforming subsidiaries, thereby reducing operational costs and losses [2] - The modified plastics business is expected to see slight growth in revenue and gross profit in 2025, driven by lower raw material prices in the optical display materials sector, improved capacity and yield, and successful development of the company's own brand in the Nigerian market [2] - The liquefied petroleum gas business is anticipated to experience a significant decline in revenue and increased losses due to fluctuations in international crude oil prices, leading to short-term supply-demand imbalances and price volatility [2] - The fine chemicals business is projected to see an increase in revenue but a decrease in profit, attributed to rising demand for polyphosphate and the commencement of trial production for a subsidiary's halogen-free flame retardant expansion project, which is currently in a capacity ramp-up phase with higher fixed costs [2]