和顺电气2025年业绩预亏，行业政策与资金面波动引关注

Core Viewpoint - The company expects a net profit loss of 42 million to 49.2 million yuan in 2025, primarily due to competition in traditional business, increased R&D expenses, and impairment provisions [1] Industry Policy and Environment - The power grid equipment sector is expected to exceed 2 trillion yuan by 2026, driven by accelerated investments from the State Grid and ultra-high voltage projects [2] - The company recently secured a 107 million yuan order from the State Grid and won a bid for a PetroChina energy storage project, with order execution progress potentially impacting future performance [2] - The optimization of the company's governance structure has also attracted market attention [2] Financial Situation - In early January 2026, the company's stock price experienced significant fluctuations due to sector enthusiasm and capital inflow, with short-term volatility related to market sentiment and technical factors [3] - Future tracking of main capital flows and overall sector capital injection is necessary [3] Future Development - Policies supporting smart grids and green energy transitions are likely to continue providing support for the industry, but the company needs to enhance its profitability to cope with valuation pressures [4]