腾龙股份：2025年全年净利润同比预减72.38%—81.59%

Core Viewpoint - The company, Tenglong Co., Ltd., anticipates a significant decline in net profit for the year 2025, projecting a decrease of 72.38% to 81.59% compared to the previous year, primarily due to various operational and accounting factors [1] Group 1: Financial Performance - The expected net profit attributable to shareholders for 2025 is projected to be between 46 million and 69 million yuan [1] - The expected net profit after deducting non-recurring gains and losses is projected to be between 28.8 million and 51.8 million yuan, reflecting a decrease of 72.21% to 84.55% year-on-year [1] - The anticipated operating revenue for 2025 is estimated to be between 396.46 million and 438.2 million yuan, indicating a year-on-year increase of 3.97% to 14.92% [1] Group 2: Reasons for Profit Decline - The main reasons for the profit decline include intensified industry competition and the depreciation of fixed assets from new projects in Poland and Anhui, which are currently in the capacity ramp-up phase [1] - The absence of non-operating gains from the previous year, specifically the asset disposal gain of 66.3 million yuan from the Tenglong Road No. 1 plant, significantly impacts the year-on-year profit comparison [1] - The company plans to recognize goodwill and long-term equity investment impairment losses totaling approximately 146 million to 161 million yuan due to the underperformance of subsidiaries and associated companies, which will have a substantial effect on overall performance [1]