海波重科：预计2025年净利润同比下降42.18%-60.88%

Group 1 - The company expects a net profit of 9 million to 13.3 million yuan for the year 2025, representing a year-on-year decline of 42.18% to 60.88% [1] - The decline in performance is primarily due to significant operational pressures in the bridge steel structure engineering sector [1] - Factors contributing to the decline include delayed payment progress for completed project engineering fees and intensified market competition leading to downward pressure on project pricing [1] Group 2 - To ensure operational stability, the company is carefully weighing project profitability against payment conditions before engaging in market activities [1] - This cautious approach has resulted in a reduction in the amount of engineering contracts undertaken, leading to a year-on-year decline in revenue for 2025 [1] - Additionally, the company has substantial production capacity, and with unsaturated output, the pressure of fixed cost allocation has further squeezed profit margins [1]