南财智讯1月28日电，ST云动发布年度业绩预告，预计2025年全年归属于上市公司股东的净利润 为-95,000万元—-80,000万元；预计2025年全年归属于上市公司股东的扣除非经常性损益的净利润 为-96,000万元—-81,000万元。2025年，商用车发动机市场持续面临新能源渗透率上升、市场竞争加剧 等挑战，公司传统业务规模与盈利空间持续承压。为抢占市场，公司继续保持较高的研发投入，且因连 续亏损后资产负债率较高，财务费用负担较重，公司经营利润不足以覆盖期间费用，故净利润为负值。 2025年，公司多措并举推动经营质量改善，产品端通过优化产品结构、推行国产供应链替代等措施，单 台发动机毛利率较去年同期有所上升；管理端全面推行精细化管理，严格落实弹性预算与全周期费用管 控，期间费用同比下降，同时通过强化存货与应收账款管理，提升资金周转效率；新兴业务方面，无人 智驾物流车、智能割胶机等逐步形成增量。此外，海外市场凭借技术出口与服务网络建设，实现稳步拓 展。在上述措施的综合推动下，公司整体经营状况有所改善，亏损幅度较去年同期有所收窄。 ...

Core Insights - Hainan is a crucial natural rubber production base in China, facing significant challenges due to typhoons and climate anomalies affecting supply and prices [1][2] - The natural rubber industry in Hainan is experiencing structural contradictions, with competition from other crops and aging rubber trees impacting production [3] - Different companies are adopting varied strategies to navigate the challenging environment, with state-owned enterprises focusing on global resource allocation and technology innovation, while private firms are implementing defensive measures [4][5] Group 1: Industry Challenges - Typhoon "Mojia" caused substantial damage to rubber plantations in Hainan, leading to a tight supply of raw materials and rising prices [1] - The aging tree structure and adverse weather conditions have resulted in reduced rubber production, with local processing capacity facing fierce competition [2][3] - The economic benefits of alternative crops like betel nut and agarwood are leading to decreased willingness among farmers to harvest rubber, further exacerbating supply issues [3] Group 2: Company Strategies - A leading state-owned enterprise is focusing on global resource layout and technological innovation, including the promotion of smart tapping technology to reduce labor costs [4] - Private processing companies are adopting a defensive strategy by reducing production to control losses and seeking to import raw materials from lower-cost regions [5] - Some companies are extending their operations downstream to enhance product value and cope with high local raw material prices [5] Group 3: Future Trends - The natural rubber industry in China is expected to undergo a significant transformation, balancing strategic resource security with economic realities [6] - The planting area and raw material output in Hainan are projected to decline slowly, while processing capacity will undergo consolidation due to strict environmental regulations [6] - The industry is likely to evolve into a dual-circulation model, combining domestic resource security with overseas resource expansion [6]