量价齐跌 西藏矿业2025年将由盈转亏

Core Viewpoint - Tibet Mining (000762) is expected to report a significant loss in 2025, transitioning from profit to loss due to declining sales and prices of its main products, lithium concentrate and ferrochrome, as well as production capacity issues related to the Zabuye Phase II project [1] Financial Performance - The company forecasts a net profit attributable to shareholders of between -40 million to -20 million yuan for 2025, compared to a profit of 111.74 million yuan in 2024 [1] - The expected non-deductible net profit for 2025 is projected to be between -60 million to -30 million yuan, down from 76.35 million yuan in 2024 [1] - The anticipated operating revenue for 2025 is estimated to be between 320 million to 390 million yuan, representing a year-on-year decline of 36.95% to 48.26% [1] Production and Capacity Issues - The decline in sales and prices is attributed to changes in production and resource endowment affecting the main products [1] - The Zabuye Phase II project is set to commence production in September 2025, with a planned annual output of 12,000 tons of lithium carbonate; however, the current production is unstable and not yet at full capacity [1] - The company is actively coordinating with partners to achieve stable production levels [1] Management Changes - At the end of 2025, there will be a change in leadership as Zhang Jintao resigns from his positions, including Chairman of the Board, due to work adjustments, and will not hold any positions in the company or its subsidiaries thereafter [1]