三变科技(002112.SZ)：预计2025年度净利润同比下降85.10%-90.06%

Core Viewpoint - The company, Sanbian Technology (002112.SZ), forecasts a significant decline in net profit for the fiscal year 2025, with estimates ranging from 12 million to 18 million yuan, representing a year-on-year decrease of 85.10% to 90.06% [1] Financial Performance - The projected net profit attributable to shareholders for 2025 is expected to be between 12 million and 18 million yuan, a substantial drop compared to the previous year [1] - The forecasted net profit after deducting non-recurring gains and losses is estimated to be between 4 million and 6 million yuan, indicating a year-on-year decline of 94.90% to 96.60% [1] Market and Operational Challenges - The decline in net profit is attributed to multiple factors, including increased competition in the transformer market, particularly affecting the order share of new energy products, leading to a contraction in operating revenue [1] - The continuous rise in the price of copper, a primary raw material for the company, is squeezing the gross profit margin of its products [1]