南新制药(688189.SH)：2025年预亏1.2亿元到1.6亿元

Core Viewpoint - Company South New Pharmaceutical (688189.SH) expects a significant decline in revenue and net profit for the year 2025, primarily due to intensified market competition and reduced demand in the domestic pharmaceutical industry [1][2] Financial Performance - The projected revenue for 2025 is estimated to be between 120 million to 150 million yuan, representing a decrease of 113 million to 143 million yuan compared to the previous year, which is a year-on-year decline of 43.03% to 54.42% [1] - The expected net profit attributable to the parent company is projected to be a loss of 160 million to 120 million yuan, which is a reduction of 197 million to 237 million yuan compared to the previous year, reflecting a year-on-year decrease in losses of 55.17% to 66.38% [1] - The net profit attributable to the parent company, excluding non-recurring gains and losses, is expected to be a loss of 165 million to 125 million yuan, with a reduction in losses of 194 million to 234 million yuan compared to the previous year, indicating a year-on-year decrease in losses of 53.98% to 65.14% [1] Operational Factors - The decline in performance is attributed to intensified competition in the market due to domestic pharmaceutical procurement policies and the introduction of similar competing products [2] - The company has maintained a high level of R&D investment to sustain its core competitiveness despite the losses incurred [2] - Cost control measures have been implemented, resulting in a significant reduction in sales and management expenses compared to the previous year [2]