盛和资源发预增，预计2025年度归母净利润同比增加281.28%到339.20%

Core Viewpoint - Shenghe Resources (600392.SH) anticipates a significant increase in net profit for the fiscal year 2025, projecting a range of 790 million to 910 million yuan, representing a year-on-year growth of 281.28% to 339.20% [1] Group 1: Financial Performance - The company attributes the expected profit growth to the overall rise in rare earth market prices, driven by industry policies and international circumstances, leading to a substantial increase in average sales prices of major rare earth products compared to the previous year [1] - During the reporting period, the company successfully capitalized on market opportunities by adjusting product structure and optimizing sales, resulting in a year-on-year increase in sales volume of key products, which significantly contributed to the performance growth [1] Group 2: Operational Developments - In the fourth quarter of 2025, the company will consolidate Peak Rare Earths Limited into its financials; however, Peak is currently in the preliminary project phase and has not yet commenced production, resulting in losses [1] - The company has recognized a decline in prices for certain medium and heavy rare earth products and zirconium-titanium products, leading to inventory impairment provisions as required by accounting standards, which will impact the fourth quarter's performance [1]