POWER HF(SH:605100) Shang Hai Zheng Quan Bao·2026-01-29 20:40Core Viewpoint - The company, Huafeng Power Co., Ltd., anticipates a significant decline in net profit for the year 2025, projecting a decrease of 57.19% to 65.35% compared to the previous year [2][4]. Group 1: Performance Forecast - The performance forecast period is from January 1, 2025, to December 31, 2025 [3]. - The estimated net profit attributable to the parent company's owners is projected to be between 25.5 million yuan and 31.5 million yuan, a decrease of 4.2088 million yuan to 4.8088 million yuan from the previous year [4]. - The estimated net profit after deducting non-recurring gains and losses is expected to be between 21.5 million yuan and 27.5 million yuan, reflecting a reduction of 4.07187 million yuan to 4.67187 million yuan compared to the previous year [4]. Group 2: Previous Year’s Performance - In the previous year, the total profit was 79.1924 million yuan, with a net profit attributable to the parent company's owners of 73.588 million yuan [5]. - The net profit after deducting non-recurring gains and losses was 68.2187 million yuan [5]. - The earnings per share for the previous year were 0.43 yuan [6]. Group 3: Reasons for Performance Decline - The decline in performance is primarily due to changes in demand in the heavy truck market, leading to a significant drop in component revenue. The insufficient demand for traditional diesel heavy trucks and the lack of layout in the new energy heavy truck component business contributed to this decline [7]. - The operational revenue from the company's subsidiary in India has decreased due to strategic adjustments by a key client and changes in visa policies, which hindered business communication and expansion [7]. - There has been an increase in credit impairment losses related to accounts receivable compared to the previous year [8]. - A reduction in sales orders, lower capacity utilization, and increased unit manufacturing costs have also impacted performance [9].