蓝帆医疗：预计2025年全年每股收益亏损:0.65元至0.85元

Core Viewpoint - Bluefan Medical has announced an earnings forecast indicating a projected loss per share of 0.65 to 0.85 yuan for the year 2025 [1] Group 1: Reasons for Performance Fluctuation - The company's health protection division is experiencing order fluctuations due to international trade conditions, leading to pressure on sales prices and an overall significant loss for the year despite a recovery in gross margin in Q4 2025 [2] - The health protection division is undergoing a special tax adjustment related to cross-border transactions from 2020 to 2022, resulting in tax payments and interest charges that negatively impact net profit [2] - The cardiovascular division's investment in Suzhou Tongxin Medical Technology Co., Ltd. has resulted in a fair value loss of approximately 120 million yuan due to valuation changes, although this does not involve cash outflow [2] Group 2: Performance of Cardiovascular Division - Excluding the impact of Suzhou Tongxin, the cardiovascular division has shown continuous improvement, achieving a sales revenue of approximately 1.4 billion yuan in 2025, representing over a 24% increase from the previous year [3] - The sales and management expense ratios have further decreased, contributing positively to the division's profitability [3] Group 3: Financial Impacts and Other Notes - The company is expected to incur financial expenses of 100 million yuan in 2025 due to a strategic investment in its subsidiary, which will be recognized as a financial liability [3] - The company has reported a fair value gain of approximately 13 million yuan from investments in peripheral and neuro-interventional fields, contributing to overall profit [3] - The earnings forecast is based on preliminary estimates, with final financial data to be disclosed in the official annual report [3]