海波重科：2025年全年净利润同比预减42.18%—60.88%

Core Viewpoint - The company, Haibo Heavy Industry, forecasts a significant decline in net profit for the year 2025, primarily due to operational pressures in its main business of bridge steel structure engineering [1] Financial Performance - The expected net profit attributable to shareholders for 2025 is projected to be between 9 million and 13.3 million, representing a year-on-year decrease of 42.18% to 60.88% [1] - The net profit after deducting non-recurring gains and losses is anticipated to be between 2.85 million and 4.2 million, reflecting a year-on-year decline of 56.05% to 70.18% [1] Operational Challenges - The decline in performance is attributed to significant operational pressures faced by the bridge steel structure engineering sector [1] - Factors contributing to this decline include delays in payment progress for completed project contracts and intensified market competition leading to downward pressure on project pricing [1] - The company has opted for a cautious approach in balancing project profitability with payment conditions, resulting in a reduction in the amount of contracts undertaken compared to the previous year [1] Revenue Impact - The anticipated decrease in revenue for 2025 is a direct consequence of the reduced contract amounts and the company's large production capacity, which is not fully utilized [1] - The underutilization of capacity has led to increased pressure from fixed cost allocation, further squeezing profit margins [1]