HONGBAOLI(SZ:002165) Jing Ji Guan Cha Wang·2026-02-12 01:32Core Viewpoint - Hongbaoli (002165.SZ) expects a significant decline in net profit for 2025, projecting a decrease of 58.97% to 72.65% due to factors such as raw material prices, exchange rates, and impairment provisions for subsidiary projects [1][2]. Financial Performance - The company forecasts that the net profit attributable to shareholders for 2025 will range from 16 million to 24 million yuan, reflecting a year-on-year decline of 58.97% to 72.65% [2]. Project Development - Hongbaoli announced that its subsidiary, Taixing Chemical, has completed the necessary procedures for the epoxy propylene comprehensive technology renovation project, which has entered the preliminary preparation stage for trial production. However, there is uncertainty regarding the timeline from trial production to the output of qualified products [3]. Regulatory Situation - On December 12, 2025, Hongbaoli received a warning letter from the Jiangsu Securities Regulatory Bureau for failing to disclose related party fund occupation and errors in annual report data, and was criticized by the Shenzhen Stock Exchange. These violations have been recorded in the integrity archives of the securities and futures market [4].