海正生材：2025年净利同比预降73.24%~78.88%

Core Viewpoint - Haizheng Shengcai (688203) expects a significant decline in net profit for the fiscal year 2025, projecting a profit of 7.5 million to 9.5 million yuan, representing a year-on-year decrease of 73.24% to 78.88% [2] Financial Performance - The company faces downward pressure on product sales prices, which has compressed the gross profit margin [2] - A decrease in interest income and foreign exchange gains has led to an increase in financial expenses for the period [2] - The transition of some construction projects from investment to fixed assets has resulted in increased depreciation and tax expenses, further squeezing profits [2]