金城医药：2025年全年净利润同比预减73.07%—79.67%

Core Viewpoint - Jincheng Pharmaceutical has announced an annual performance forecast indicating a significant decline in net profit for 2025, with expectations of a decrease of 73.07% to 79.67% year-on-year [1] Financial Performance Summary - The company anticipates a net profit attributable to shareholders of 40 million to 53 million yuan for 2025, which represents a substantial decrease compared to the previous year [1] - The expected net profit after deducting non-recurring gains and losses is projected to be between 28 million and 37 million yuan, reflecting a year-on-year decline of 79.43% to 84.44% [1] Reasons for Performance Change - The primary reasons for the decline in performance include: 1. A slowdown in product market demand, intense industry competition, and the impact of national centralized procurement policies, leading to a decrease in both prices and sales volume for certain products in the intermediate and formulation segments [1] 2. An increase in asset impairment provisions for 2025 compared to the previous year, in response to industry and market changes [1] 3. The need for the company's subsidiaries, Guangdong Jincheng Jinsu Pharmaceutical Co., Ltd. and its wholly-owned subsidiary Guangdong Landu Pharmaceutical Co., Ltd., to pay back taxes from previous years [1] - The impact of non-recurring gains and losses on net profit is estimated to be between 12 million and 16 million yuan [1]