BLIIC(SZ:300135) Sou Hu Cai Jing·2026-01-30 10:45Core Viewpoint - Baoli International expects a net profit loss of 60 million to 84 million yuan for the full year of 2025, indicating significant financial challenges ahead [1]. Group 1: Reasons for Performance Change - The company experienced delays in project commencement from some clients, leading to postponed asphalt demand and a decline in gross margin due to fluctuations in raw material costs influenced by international oil prices [2]. - The industry recovery faces numerous challenges, with weak demand for asphalt products and delayed payment progress from downstream clients, resulting in anticipated increases in credit impairment losses and asset impairment losses [2]. - Non-recurring gains are expected to impact net profit by approximately 40 million yuan, primarily from the disposal of non-current assets [2]. Group 2: Financial Performance Overview - For the first three quarters of 2025, the company's main revenue was 1.067 billion yuan, a year-on-year decrease of 36.42% [2]. - The net profit attributable to shareholders was -10.1287 million yuan, a year-on-year decline of 245.22%, while the net profit excluding non-recurring items was -50.4023 million yuan, down 92.83% [2]. - In Q3 2025, the company's single-quarter main revenue was 547 million yuan, a year-on-year increase of 2.61%, but the single-quarter net profit attributable to shareholders was -3.2463 million yuan, a decline of 15.17% [2].