万和电气(002543.SZ)：预计2025年净利润同比下降68.83%-78.71%

Core Viewpoint - Wanhe Electric (002543.SZ) expects a significant decline in net profit for 2025, projecting a range of 140 million to 205 million yuan, which represents a decrease of 68.83% to 78.71% compared to the previous year [1] Financial Performance - The net profit attributable to shareholders is forecasted to be between 140 million and 205 million yuan, indicating a substantial year-on-year decline [1] - The net profit after deducting non-recurring gains and losses is estimated to be between 210 million and 310 million yuan, reflecting a decrease of 52.77% to 68.01% year-on-year [1] Impact Factors - The preliminary valuation results from Qianhai Equity Investment Fund indicate a decrease in fair value change income by approximately 30.49 million yuan year-on-year [1] - A reduction in government subsidies is expected to lead to a decrease in other income by about 26.26 million yuan year-on-year [1] - Both of these impacts are included in non-recurring gains and losses [1]