Luxi Chemical(SZ:000830) Shenwan Hongyuan Securities·2025-08-28 01:19Investment Rating - The investment rating for the company is "Outperform" (maintained) [1] Core Views - The company's performance is generally in line with expectations, with a slight decline in net profit due to market pressures and inventory impairment [6] - The company is experiencing a gradual bottoming out of product demand, with some product prices improving while others remain under pressure [6] - Cost relief from raw materials has somewhat mitigated the impact of declining product prices, although gross margins have still decreased [6] - Ongoing project developments are expected to support long-term growth, with several new projects scheduled for completion in the coming years [6] - The profit forecast for 2025 has been adjusted downwards due to supply chain pressures and trade disruptions, with expected net profit of 1.914 billion [6] Financial Data and Profit Forecast - Total revenue for 2025 is projected at 30.78 billion, with a year-on-year growth rate of 3.4% [5] - The net profit attributable to the parent company is expected to be 1.914 billion, reflecting a decrease of 5.6% year-on-year [5] - Earnings per share are forecasted to be 1.00 yuan for 2025, with a projected PE ratio of 14 [5] - The gross margin is expected to be 13.8% in 2025, showing a slight recovery from previous periods [5] - The company’s return on equity (ROE) is projected to be 9.3% for 2025 [5]