友发集团：预计2025年归母净利润同比增长52.11%到66.23%

Group 1 - The company expects a significant increase in net profit for 2025, projecting a range of 646 million to 706 million yuan, representing a year-on-year growth of 52.11% to 66.23% [1] - The net profit attributable to shareholders, excluding non-recurring gains and losses, is anticipated to be between 433 million and 493 million yuan, reflecting a year-on-year increase of 35.24% to 53.98% [1] - The company's steel pipe production and sales volume is expected to see a slight increase, with a gross margin of approximately 3.25%, up by 0.4 percentage points year-on-year [1] Group 2 - The wholly-owned subsidiary, Tangshan Youfa New Building Materials Co., Ltd., invested 20 million yuan as a limited partner in the "Tianjin Lishi Xingmu Venture Capital Fund Partnership (Limited Partnership)," accounting for 4.9875% of the total committed capital [2] - The fund has made an investment in Muxi Integrated Circuit (Shanghai) Co., Ltd., leading the company to indirectly hold 341,700 shares of Muxi [2] - The significant increase in non-recurring gains for the reporting period is primarily due to the fair value change gains from the investment in Muxi, estimated at approximately 110 million yuan based on Muxi's closing price and liquidity discount as of December 31, 2025 [2]