大北农：预计2025年归母净亏损4.5亿元–5.8亿元

Core Viewpoint - The company expects a net profit loss attributable to shareholders of 450 million to 580 million yuan for the fiscal year 2025, compared to a profit of 346 million yuan in the same period last year [1] Group 1: Financial Performance - The company continues to strengthen operational management, enhance operational efficiency, and effectively reduce operating costs while improving customer service capabilities [1] - The seed business is projected to see growth in sales, revenue, and net profit for the fiscal year 2025 [1] - The feed and pig farming businesses experienced a year-on-year increase in sales, but profitability declined due to market conditions and fluctuations in pig prices [1] Group 2: Asset Impairment - The company conducted impairment tests on long-term equity investments, biological assets, and goodwill at year-end, resulting in expected impairment losses of 600 million to 700 million yuan due to low pig market prices and underperformance of invested units [1] - The estimated recoverable amounts of the company's breeding pigs, long-term equity investments, and goodwill are expected to be lower than their book values [1]