山东海化：2025年全年预计净亏损12.60亿元—15.00亿元

Core Viewpoint - Shandong Haihua is forecasting a significant decline in net profit for the year 2025, with estimates indicating a loss between 1.26 billion to 1.5 billion yuan, representing a year-on-year decrease of approximately 3,314.87% to 3,929.19% [1] Group 1: Financial Performance - The company expects a net profit attributable to shareholders of the listed company to be between -1.26 billion yuan and -1.5 billion yuan for 2025 [1] - The projected net profit, excluding non-recurring gains and losses, is estimated to be between -1.35 billion yuan and -1.59 billion yuan [1] Group 2: Reasons for Performance Change - The primary reason for the performance decline is the impact of the main business, where industry capacity expansion and a decrease in downstream demand have led to an oversupply of the main product, soda ash, resulting in a significant drop in selling prices compared to the previous year [1] - The company plans to recognize an asset impairment provision of 500 million to 650 million yuan due to preliminary impairment tests on fixed assets that showed signs of impairment as of December 31, 2025 [1]