Haishun New Materials recorded a loss of 23.27 million yuan in 2025, down 131.2% year-on-year.

On March 25th, Heshun New Materials (300501) announced its 2025 annual report. The company’s operating revenue was 1.1 billion yuan, a year-on-year decrease of 3.3%; net profit attributable to the parent was a loss of 23.27 million yuan, down 131.2% year-on-year; non-recurring net profit attributable to the parent was a loss of 46.80 million yuan, down 167.2% year-on-year; net cash flow from operating activities was 95.59 million yuan, a decrease of 40.7% year-on-year; EPS ( fully diluted ) was -0.1202 yuan.

In the fourth quarter, the company’s operating revenue was 282 million yuan, down 10.8% year-on-year; net profit attributable to the parent changed from a loss of 5.13 million yuan in the same period last year to a loss of 71.93 million yuan, with the loss further widening; non-recurring net profit attributable to the parent changed from a loss of 4.45 million yuan last year to a loss of 67.66 million yuan, with the loss further widening; EPS was -0.3717 yuan.

As of the end of the fourth quarter, the company’s total assets were 2.9B yuan, an increase of 0.6% compared to the end of the previous year; net assets attributable to the parent were 1.56B yuan, a decrease of 10.4% compared to the end of the previous year.

The company’s new pharmaceutical packaging materials business revenue was 986 million yuan, a decrease of 6.02% year-on-year, with a gross profit margin of 26.49%, down 4.16% year-on-year. This decline in gross margin was mainly due to insufficient capacity utilization, which increased the fixed cost allocation pressure and resulted in lower profitability per unit.

The capacity utilization rates of the functional polyolefin film project and high-barrier composite material project were both low, with benefits of -17.85 million yuan and -24.14 million yuan respectively, affecting overall profitability.

During the reporting period, the company increased asset impairment losses to 53.53 million yuan, mainly due to the sale of 43.015% equity of Shanghai Jiucheng, with a long-term equity investment impairment loss of 36.99 million yuan.

The company’s overall operations are normal, with various businesses progressing steadily and no significant adverse changes. The industry remains stable in terms of prosperity.