002932下修业绩预告，可能被*ST！

Core Viewpoint - Mingde Biological (002932) is expected to face a significant loss in 2025, with a projected total profit loss of 50 million to 75 million yuan and a net profit loss attributable to shareholders of 15 million to 25 million yuan, leading to a potential delisting risk warning from the Shenzhen Stock Exchange [1][2]. Financial Performance Summary - The revised total profit for 2025 is projected to be a loss of 50 million to 75 million yuan, compared to a profit of 32.416 million yuan in the previous year [2]. - The net profit attributable to shareholders is now expected to be a loss of 15 million to 25 million yuan, revised from a previous estimate of a profit of 12 million to 18 million yuan [2]. - The net profit after deducting non-recurring gains and losses is projected to be a loss of 100 million to 140 million yuan, indicating a significant downward revision [2][3]. - The expected operating revenue for 2025 is estimated to be between 25 million and 31 million yuan, down from 350.0618 million yuan in the previous year [2]. - The adjusted operating revenue, after deductions, is projected to be between 23.7 million and 29.7 million yuan, also a decrease from 348.4858 million yuan in the previous year [2]. Reasons for Performance Revision - The company conducted a comprehensive review and cautious analysis of its operating revenue, deciding not to recognize certain revenues due to significant uncertainty regarding accounts receivable collections [3]. - Further communication with the annual audit accounting firm led to impairment testing of assets showing signs of impairment, resulting in adjustments to asset impairment loss amounts, which negatively impacted the net profit attributable to shareholders [4]. Company Operations Status - The company stated that its production and operations are currently normal and expressed sincere apologies for any inconvenience caused to investors by the performance forecast revision [5].