丛麟科技(688370.SH)：预计2025年净利润同比减少73.34%到81.12%

Core Viewpoint - Conglin Technology (688370.SH) expects a significant decline in net profit for the fiscal year 2025, indicating challenges in the hazardous waste treatment industry due to market oversupply and declining prices [1] Company Summary - The company anticipates a net profit attributable to shareholders of between 17 million to 24 million yuan for 2025, a decrease of 66.02 million to 73.02 million yuan compared to the previous year, representing a year-on-year decline of 73.34% to 81.12% [1] - The projected net profit, excluding non-recurring gains and losses, is expected to be between -12 million to -6 million yuan, reflecting a decrease of 60.23 million to 66.23 million yuan from the previous year, with a year-on-year decline of 111.06% to 122.13% [1] Industry Summary - The hazardous waste treatment industry is undergoing a profound transformation, shifting from "incremental expansion" to "stock optimization" [1] - The previous concentration of capacity release has led to a severe oversupply in the market, resulting in insufficient capacity utilization among most companies in the industry [1] - The treatment prices are under continuous downward pressure, leading to a decline in gross margins [1]