中农联合，上演“地天板”

Core Viewpoint - The company Zhongnong United (003042) is expected to report a net loss attributable to shareholders of between 128 million and 165 million yuan for the fiscal year 2025, compared to a loss of 122.45 million yuan in the same period last year [1][3]. Financial Performance Summary - The projected net loss for 2025 is between 128 million yuan and 165 million yuan, reflecting a decline of 4.53% to 34.75% compared to the previous year's loss [3]. - The net profit after deducting non-recurring gains and losses is expected to be a loss of 131.5 million to 168.5 million yuan, which is a decrease of 3.03% to 32.02% from last year's loss of 127.63 million yuan [3]. - The basic earnings per share are projected to be a loss of 0.90 to 1.16 yuan per share, compared to a loss of 0.86 yuan per share in the previous year [3]. Operational Insights - The company attributes the increased loss to the continued decline in market prices of its main products, resulting in low gross margins for its core business. Additionally, the costs during the trial operation of newly constructed projects have been high [4]. - The stock has recently experienced two consecutive trading days with significant price increases, leading to a notice of abnormal trading activity. However, the company states that its production and operational conditions remain normal, with no significant changes in the internal and external business environment [4].