SDHT(SH:600308) Ge Long Hui A P P·2026-01-30 08:57Core Viewpoint - Huatai Co., Ltd. (600308.SH) is expected to report a net profit attributable to shareholders of the parent company for the year 2025 in the range of -50 million to -70 million yuan, indicating a loss compared to the previous year [1] Group 1: Financial Performance - The net profit attributable to shareholders, excluding non-recurring gains and losses, is projected to be between -125 million and -145 million yuan for 2025 [1] - The company anticipates a decline in gross profit margin due to a larger decrease in sales prices of certain products compared to the reduction in costs, resulting in operational performance fluctuations [1] Group 2: Operational Factors - The 700,000-ton pulp project is entering its initial production phase in 2025, with capacity ramp-up and process adjustments progressing normally; however, the scale effect and cost advantages of self-produced pulp have not yet fully materialized [1] - The depreciation and financial expenses related to the project will impact short-term profits after the project is capitalized [1] Group 3: Accounting Adjustments - To ensure the prudence of financial statements, the company conducted impairment tests on certain receivables and inventories in accordance with relevant accounting standards, which has affected the current period's performance [1]