Core Viewpoint - The company, Shanying International, anticipates a net loss of 850 million to 1 billion yuan for the year 2025, which is an increase from the 451 million yuan loss in 2024 [1] Group 1: Financial Performance - The expected net loss is attributed to a decline in gross margin from core operations and reduced investment income [1] - The gross margin pressure is primarily due to the company's strategy to ensure cash flow safety by adjusting accounts receivable and payable to prioritize the repayment of "Eagle 19 convertible bonds" [1] - The company has successfully completed the conversion and repayment of the convertible bonds, eliminating systemic credit risk and gradually restoring credit value [1] Group 2: Operational Strategy - Despite the financial challenges, the company's paperboard segment has achieved synchronized production and sales growth [1] - The operating cash flow remains healthy, indicating stable cash generation capabilities from core operations [1] - With reduced debt pressure, the company is focusing on high-end fiber wood pulp projects to enhance cost competitiveness and leverage industry chain synergies for transformation opportunities [1]

Core Viewpoint - The company, Shanying International (600567), has announced a forecasted net loss for 2025, projecting a loss between 850 million to 1 billion yuan, compared to a loss of 451 million yuan in the previous year [4]. Financial Performance - The expected net profit loss for 2025 is between 850 million to 1 billion yuan, with a non-recurring net profit loss projected between 1.05 billion to 1.2 billion yuan, compared to a loss of 843 million yuan in the previous year [4]. - The company's price-to-book ratio (P/B) is approximately 0.7 times, and the price-to-sales ratio (P/S) is about 0.37 times based on the latest closing price [4]. Business Operations - The main business of the company includes the production and sales of boxboard paper, corrugated paper, specialty paper, paperboard, and paper products packaging, as well as domestic and international fiber recycling trade [14]. - The forecasted losses are attributed to a decline in gross profit margin and reduced investment income, primarily due to the sale of Nordic Paper's equity in the previous period and decreased investment income from joint ventures [15]. Market Valuation - The company's recent financial metrics indicate that when the company is in a loss position, the price-to-earnings ratio (P/E) becomes negative, making it less meaningful for valuation, thus the price-to-book and price-to-sales ratios are referenced instead [16][18].

Core Viewpoint - Company expects a net loss of 850 million to 1 billion yuan for 2025, indicating an expansion in loss compared to the previous year [1] Group 1: Financial Performance - Company reported a decrease in gross profit margin due to credit impairment before the maturity of convertible bonds, which pressured short-term profit margins [1] - Financial expenses decreased by 23.38% year-on-year, and operating net cash flow remained healthy at 2.125 billion yuan [2] Group 2: Strategic Adjustments - Company is actively adjusting its operational strategy, focusing on synchronizing production and sales in the paperboard sector [1] - Management emphasizes "exchanging profit for safety" to ensure cash flow security during the critical period of bond repayment [1] Group 3: Future Development - Company aims to accelerate its transition to high-end manufacturing, particularly through the implementation of high-end fiber wood pulp projects to enhance cost competitiveness [2] - A new partnership, Wuhu Shengying Enterprise Management Consulting Partnership, was established with a total investment of 2.977 billion yuan, aimed at resource integration and structural optimization [3]

Major Announcements - Huayi Co., Ltd. has applied for a 5-day extension to respond to the Shanghai Stock Exchange's inquiry regarding its acquisition matters due to the need for further confirmation and improvement of certain issues [1] - Shuaifeng Electric is expected to report a net loss of 43 million to 62 million yuan for 2025, with revenue projected between 210 million and 250 million yuan, potentially leading to a delisting risk warning for its stock [1] - Zijin Mining's second phase of the Julong Copper Mine has commenced production, increasing its total production capacity to 350,000 tons per day, with plans for a third phase that could significantly enhance copper output [1] Performance Forecasts - Yongchun Intelligent expects a net profit of 128 million to 155 million yuan for 2025, representing a year-on-year increase of 721.57% to 894.86% [3] - Fuda Alloy anticipates a net profit of 100 million to 146 million yuan for 2025, with a growth of 119.14% to 219.95% driven by expanding demand in emerging sectors [4] - Xiling Power forecasts a net profit of 90 million to 110 million yuan for 2025, reflecting a year-on-year increase of 77.82% to 117.33% due to rising sales in automotive parts [4] - Haoshi Electromechanical expects a net profit of 128 million to 165 million yuan for 2025, with a growth of 54.4% to 99.03% attributed to increased demand in the PCB market [4] - Shenkong Co., Ltd. predicts a net profit of 90 million to 110 million yuan for 2025, with a growth of 118.71% to 167.31% driven by the recovery in the semiconductor market [5] - Lianchuang Optoelectronics anticipates a net profit of 435 million to 532 million yuan for 2025, representing a growth of 80.36% to 120.57% [5] - Xiangnong Chip expects a net profit of 480 million to 620 million yuan for 2025, with a growth of 81.77% to 134.78% driven by demand for enterprise-level storage products [6] - Shuangyi Technology forecasts a net profit of 155 million to 172 million yuan for 2025, reflecting a growth of 80% to 100% [6] - Feirongda anticipates a net profit of 360 million to 420 million yuan for 2025, with a growth of 57.23% to 83.43% [8] - Jingfang Technology expects a net profit of 365 million to 385 million yuan for 2025, representing a growth of 44.41% to 52.32% [9] - Youbuxun predicts a net profit of 72 million to 107 million yuan for 2025, marking a turnaround from a loss of 150 million yuan in the previous year [10] - Zhongwei Company anticipates a net profit of 2.08 billion to 2.18 billion yuan for 2025, with a growth of 28.74% to 34.93% [11] Loss Forecasts - Shanying International expects a net loss of 850 million to 1 billion yuan for 2025, compared to a loss of 451 million yuan in the previous year [12] - Baiyin Nonferrous Metals anticipates a net loss of 450 million to 675 million yuan for 2025, a significant decline from a profit of 8.08 million yuan in the previous year [13] - Zhengzhou Coal Electricity plans to stop production at the Chao Hua Coal Mine due to resource depletion, expecting to recognize a 311 million yuan impairment loss [17] - Changcheng Electric forecasts a net loss of approximately 315 million yuan for 2025, compared to a loss of 225 million yuan in the previous year [17] - Standard Co. expects a net loss of 120 million to 140 million yuan for 2025, with a reduction in losses compared to the previous year [17] - Hongqingtian anticipates a net loss of 100 million to 150 million yuan for 2025, with a decline in revenue due to weak consumer demand [17]

Core Viewpoint - The company, Shanying International, is forecasting a net profit loss of between 850 million to 1 billion yuan for the year 2025, primarily due to declining gross margins and reduced investment income [1][2]. Group 1: Performance Forecast - The expected net profit loss for 2025 is projected to be between 850 million to 1 billion yuan [1]. - The decline in performance is attributed to a decrease in gross margin and a reduction in investment income [2]. Group 2: Reasons for Performance Change - The paper manufacturing segment is expected to achieve synchronized growth in production and sales for 2025, but the overall performance is negatively impacted by a drop in gross margin and investment income [2]. - The reduction in investment income is mainly due to the previous sale of Nordic Paper's equity and decreased investment income from joint ventures [2]. - The decline in gross margin is linked to credit impairment before the maturity of the convertible bonds, leading the company to adjust accounts receivable and payable to ensure liquidity [2]. Group 3: Financial Performance Indicators - For the first three quarters of 2025, the company reported a main revenue of 21.133 billion yuan, a year-on-year decrease of 2.17% [3]. - The net profit attributable to shareholders for the same period was -290 million yuan, a significant year-on-year decline of 522.74% [3]. - The gross margin for the period was reported at 7.91% [3].

免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每经AI快讯，山鹰国际1月23日晚间发布业绩预告，预计2025年年度实现归属于上市公司股东的净利 润-8.5亿元到-10亿元，与上年同期相比，亏损有所扩大。2025年度公司造纸板块实现产销同步增长，本 期业绩亏损主要为主营业务毛利率下降及投资收益减少所致。 每日经济新闻 每经头条（nbdtoutiao）——地方国资开始"抄底"法拍房！单价六七千元"扫货"广州南沙区超60套房 源，同小区二手房挂牌均价逾2万元 （记者 张明双） ...

格隆汇1月23日丨山鹰国际(600567.SH)公布，经财务部门初步测算，预计2025年年度实现归属于上市公 司股东的净利润-8.5亿元到-10.0亿元，与上年同期相比，亏损有所扩大。预计2025年年度实现归属于上 市公司股东的扣除非经常性损益的净利润-10.5亿元到-12.0亿元。 ...

股票简称：山鹰国际 股票代码：600567 公告编号：临 2026-002 山鹰国际控股股份公司 2025 年年度业绩预告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 预计 2025 年年度实现归属于上市公司股东的扣除非经常性损益的净利润 -10.5 亿元到-12.0 亿元。 （三）本次业绩预告未经注册会计师审计。 二、上年同期业绩情况 （一）利润总额：-422,759,887.78 元。归属于上市公司股东的净利润为人 民币-450,645,516.19 元。归属于上市公司股东的扣除非经常性损益的净利润为 人民币-842,561,955.69 元。 （二）基本每股收益为人民币-0.10 元。 三、本期业绩预亏的主要原因 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日。 （二）业绩预告情况 经财务部门初步测算，预计 2025 年年度实现归属于上市公司股东的净利润 -8.5 亿元到-10.0 亿元，与上年同期相比，亏损有所扩大。 四、风险提示 截至本公 ...

山鹰国际公告，预计2025年年度实现归属于上市公司股东的净利润亏损8.5亿元到10亿元，上年同期亏 损4.51亿元。本期业绩亏损主要为主营业务毛利率下降及投资收益减少所致。 ...

Group 1 - The paper sector experienced a slight increase of 0.09% on January 23, with Minshida leading the gains [1] - The Shanghai Composite Index closed at 4136.16, up by 0.33%, while the Shenzhen Component Index closed at 14439.66, up by 0.79% [1] - Key stocks in the paper sector showed varied performance, with Minshida rising by 11.09% to a closing price of 63.10 [1] Group 2 - The paper sector saw a net outflow of 227 million yuan from major funds, while retail investors contributed a net inflow of 280 million yuan [2] - Among individual stocks, Minshida had a significant net inflow of 61.21 million yuan from major funds, while other stocks like Annie Co. and Qifeng New Materials experienced mixed fund flows [3] - The overall trading volume and turnover in the paper sector reflected active participation, with notable transactions in stocks like Annie Co. and Qifeng New Materials [2][3]