NBSS(SH:600884) Zhong Zheng Wang·2026-02-04 07:21Core Viewpoint - The company, Singshan Co., Ltd. (600884.SH), announced a projected net profit of 400 million to 600 million yuan for the fiscal year 2025, marking a turnaround from previous losses, driven by strong growth in its core businesses of anode materials and polarizers [1][2]. Group 1: Financial Performance - The company expects a net profit attributable to shareholders of 400 million to 600 million yuan for 2025, with a net profit excluding non-recurring gains and losses projected at 300 million to 450 million yuan, indicating a significant recovery from a loss of 364.14 million yuan in the previous year [1]. - The previous year's total profit was -274.29 million yuan, with a net profit attributable to shareholders of -367.14 million yuan, and a loss per share of -0.17 yuan [1]. Group 2: Business Drivers - The core reason for the turnaround is the robust growth and profitability enhancement in the anode materials and polarizer businesses, which are expected to generate a combined net profit of 900 million to 1.1 billion yuan in 2025 [1]. - The anode materials business benefits from strong demand in the downstream electric vehicle and energy storage markets, alongside continuous capacity release and significant sales growth, further solidifying the company's industry-leading position [1]. - The polarizer business maintains a leading market position, driven by high-end product development and operational precision, resulting in increased sales and average prices [2]. Group 3: Cost Management and Challenges - The company has implemented multiple measures to optimize production processes, enhance graphitization technology, and strengthen fine management, effectively reducing production costs and boosting overall profitability [1]. - The announcement also noted that three expenses from the parent company, losses from equity-method investments, and asset impairment provisions are expected to impact the current period's profit by 550 million to 450 million yuan, although these adverse effects have narrowed compared to the previous year [2].