各位朋友大家好非常高兴又和大家见面了对第一次观看我们业绩沟通视频的朋友们我先自我介绍一下我是阿尼苏的董事长兼总经理郝志刚欢迎大家观看阿尼苏2024年第三季度业绩沟通视频和以前一样今天和我一起做本次业绩沟通的高管团队包括阿尼苏集团首席荧官Frederick Jack Quinn以及阿尼苏集团的首席财务官Virginia Katz 我们将向您逐一介绍我们的业务亮点业绩表现以及对未来几个季度的业务展望2024年三季度 延续了上半年良好的市场表现这主要受益于我们在产能扩充研发创新和主位运营等方面的持续投入以帮助我们成功捕捉市场机会取得了非常强劲的业绩表现同时呢我们坚定不移致力于通过持续投资推动业务的增长这也表明我们对业务长期发展的潜力充满了信心安全和可持续发展一直是我们管理的重中之重 我们在2024年三季度将PRR控制在了极地的零点一三 为历史的最佳表现2024年三季度我们取得了强劲的业绩增长营业收入实现了同比双位数的增长毛利润和毛利率均取得了大幅度的提升这主要归功于单算业务的优异表现维生素A产品价格的反弹以及在中国和美国的乳液市场非常低迷的情况下依然取得了稳定发展的特种产品业务 下面我将时间交给弗洛德里克和魏征涅为 ...

Investment Rating - The report assigns a "Buy-A" rating to Adisseo (600299 SH) for the first time [1] Core Views - Strong growth in methionine sales and significant improvement in operational efficiency are key drivers [1] - The company's Q3 2024 revenue reached 4 125 billion yuan up 25 23% YoY and 9 28% QoQ with net profit of 396 million yuan up 683 55% YoY and 19 65% QoQ [1] - Gross margin improved to 29 21% up 12 61 percentage points YoY while net margin reached 9 63% up 11 69 percentage points YoY [1] Business Performance Methionine Business - Methionine revenue grew 31% YoY in Q3 2024 with liquid methionine sales hitting a quarterly record and solid methionine achieving double-digit growth [1] - Domestic methionine average price in Q3 2024 was 20 69 yuan/kg up 15 8% YoY but down 4 37% QoQ [1] - The company is progressing with the construction of a 150 000-ton solid methionine plant in Quanzhou Fujian [1] Specialty Products - Specialty products revenue grew 10% YoY in Q3 2024 with gross profit up 20% [1] - The European 30 000-ton specialty product capacity expansion project is in the ramp-up phase [1] - A 37 000-ton specialty feed additive plant in Nanjing is expected to complete mechanical construction by end of 2024 [1] Operational Efficiency - The company expects to reduce recurring costs by 178 million yuan in 2024 [1] - It has permanently closed the solid methionine production line at its Comantre France plant and optimized vitamin A production efficiency [1] Financial Projections - Revenue is forecasted to grow to 14 903/16 273/17 549 billion yuan in 2024/2025/2026 representing YoY growth of 13 0%/9 2%/7 8% [1] - Net profit is projected to reach 1 372/1 554/1 672 billion yuan in 2024/2025/2026 with YoY growth of 2529 4%/13 3%/7 6% [1] - EPS is estimated at 0 51/0 58/0 62 yuan for 2024/2025/2026 with P/E ratios of 22 6/20 0/18 6x [1] Valuation Metrics - The company's P/E ratio is projected at 22 6/20 0/18 6x for 2024/2025/2026 [1] - P/B ratio is forecasted at 1 9/1 8/1 7x for the same period [1] - ROE is expected to improve to 8 7%/9 1%/9 0% in 2024/2025/2026 [1]

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The report highlights strong sales of methionine, with significant year-on-year and quarter-on-quarter improvements in Q3 performance [2][3] - The company achieved a revenue of 11.376 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 18.32% [2] - The net profit attributable to shareholders reached 1.003 billion yuan, a substantial recovery from a loss of 34 million yuan in the same period last year [2] - The report anticipates continued growth in revenue and profit for the years 2024 to 2026, with projected revenues of 15.317 billion yuan, 16.979 billion yuan, and 18.031 billion yuan respectively [6] Summary by Sections Financial Performance - In Q3 2024, the company reported a revenue of 4.115 billion yuan, up 25.23% year-on-year and 9.28% quarter-on-quarter [3] - The net profit for Q3 was 396 million yuan, compared to a loss of 680 million yuan in the same quarter last year, marking a quarter-on-quarter increase of 19.65% [3] - The operating cash flow for the quarter was 990 million yuan, reflecting a strong operational performance [3] Product Performance - The methionine segment saw a significant increase in both volume and price, with a revenue growth of 31% year-on-year and a gross profit increase of 296% [3] - The average price of 99% methionine in Q3 2024 was 20.69 yuan per kilogram, showing a year-on-year increase of 15.8% [3] - The vitamin A and E segments also experienced substantial price increases, contributing to improved profitability [3] Future Outlook - The company is expanding its production capacity, with ongoing construction of a 150,000-ton/year solid methionine plant in Quanzhou and a 37,000-ton/year specialty feed additive plant in Nanjing [6] - The report projects that the company will benefit from the favorable market conditions for its main products, methionine and vitamins, and maintain its leading position in the industry [6]

Financial Performance - The company's operating revenue for Q3 2024 reached ¥4,114,999,156, representing a year-on-year increase of 25.23%[2] - The net profit attributable to shareholders for the same period was ¥395,680,221, with a year-to-date net profit of ¥1,003,279,525, reflecting an 18.32% increase compared to the previous year[2] - The basic earnings per share for Q3 2024 was ¥0.15, while the diluted earnings per share was also ¥0.15[3] - Operating profit for the third quarter was CNY 1,378,171,752, a significant recovery from a loss of CNY 11,697,240 in the previous year[20] - Net profit attributable to shareholders of the parent company for the third quarter was CNY 1,003,279,525, compared to a loss of CNY 34,405,991 in the same quarter of 2023[20] - The total comprehensive income for the third quarter of 2024 reached CNY 950,427,428, a significant increase from CNY 135,781,435 in the same period of 2023[21] - Basic and diluted earnings per share for the third quarter were CNY 0.37, compared to a loss of CNY 0.01 in the previous year[21] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥22,269,982,178, a 3.52% increase from the end of the previous year[3] - As of September 30, 2024, the total assets of the company reached RMB 22,269,982,178, an increase from RMB 21,513,367,642 at the end of 2023, representing a growth of approximately 3.5%[14] - The company's current assets amounted to RMB 6,355,563,757, up from RMB 5,398,557,917, indicating a growth of about 17.7% year-over-year[16] - Total liabilities decreased slightly to CNY 6,415,600,329 from CNY 6,448,499,145 year-over-year[18] - The company's total liabilities decreased to RMB 6,355,563,757 from RMB 6,398,557,917, reflecting a slight reduction of about 0.7%[16] Cash Flow - The company reported a net cash flow from operating activities of ¥2,220,971,908 year-to-date, which is a 23.86% increase compared to the previous year[2] - Cash flow from operating activities generated a net amount of CNY 2,220,971,908, up from CNY 1,793,194,702 year-over-year[22] - Total cash inflow from operating activities was CNY 11,499,228,102, compared to CNY 10,642,920,851 in the prior year[22] - Cash outflow from operating activities totaled CNY 9,278,256,194, an increase from CNY 8,849,726,149 in the previous year[22] - Cash flow from investing activities resulted in a net outflow of CNY 1,177,816,244, slightly improved from CNY 1,259,556,441 in the same period last year[22] - Cash flow from financing activities showed a net outflow of CNY 722,744,647, compared to CNY 391,823,440 in the previous year[23] - The ending balance of cash and cash equivalents was CNY 1,334,456,897, up from CNY 958,125,006 at the end of the third quarter of 2023[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,607, with the largest shareholder holding 63.74% of the shares[7] - The company has not reported any significant changes in shareholder participation in margin trading or securities lending activities during the reporting period[12] Operational Insights - The company plans to continue optimizing its supply chain and cost management strategies to enhance profitability amid challenging market conditions[6] - The company has maintained a strong growth trajectory in its methionine business, contributing positively to net profit increases[6] Other Financial Metrics - The weighted average return on equity increased by 5.22 percentage points to 4.77% for Q3 2024, and by 6.84 percentage points to 6.61% year-to-date[3] - Research and development expenses for the first three quarters were CNY 300,385,838, slightly down from CNY 302,063,643 in the same period last year[19] - The company reported a significant increase in tax expenses, totaling CNY 298,297,006 compared to CNY 16,724,666 in the previous year[20] - Other comprehensive income after tax for the third quarter was a loss of CNY 53,127,064, contrasting with a gain of CNY 170,581,176 in the same quarter of 2023[20] - The total equity attributable to shareholders of the parent company increased to CNY 15,826,425,091 from CNY 15,036,928,489 year-over-year[18]

蓝星安迪苏股份有限公司 关于召开 2024 年第三季度业绩说明会的公告 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： 蓝星安迪苏股份有限公司（以下简称"公司"）于 2024 年 10 月 30 日披露公 司 2024 年第三季度报告，为便于广大投资者更全面深入地了解公司 2024 年第 三季度经营成果、财务状况，公司计划于 2024 年 11 月 14 日下午 15:00-16:30 举行 2024 年第三季度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以视频直播和网络互动形式召开，公司将针对 2024 年第 三季度的经营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信 息披露允许的范围内就投资者普遍关注的问题进行回答。 证券代码：600299 证券简称：安迪苏 公告编号：2024-044 首席财务官：Virginie Cayatte 女士 董事会秘书：蔡昀女士 二、说明会召开的时间、地点 会议召开时间：2024 年 11 月 14 日(星期四) 下午 15:00-16: ...

证券代码：600299 证券简称：安迪苏 公告编号：2024-042 蓝星安迪苏股份有限公司 第九届董事会第二次会议 决议公告 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。 蓝星安迪苏股份有限公司（简称"安迪苏"或"公司"）第九届董事会第二 次会议于 2024 年 10 月 29 日以通讯表决的方式召开。董事会会议通知和材料于 2024 年 10 月 24 日以电子邮件方式发出。会议应参加表决董事 9 人，实际参加表 决董事 9 人。其中董事董大川先生因工作安排未能亲自参会，委托董事郝志刚先 生代为参加会议并行使表决权。本次会议符合《中华人民共和国公司法》和《蓝 星安迪苏股份有限公司章程》的有关规定。本次会议由公司董事长郝志刚先生召 集。 关联董事郝志刚回避表决。 1 会议以 8 票同意，0 票反对，0 票弃权的表决结果审议通过了议案。 特此公告。 1. 审议通过关于《2024 年第三季度报告》的议案 审计、风险及合规委员会审议同意上述议案。 《2024 年第三季度报告》内容详见上海证券交易所网站：www.sse.com.c ...

证券代码：600299 证券简称：安迪苏 公告编号：2024-043 蓝星安迪苏股份有限公司 2024 年第三季度主要经营数据公告 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。 蓝星安迪苏股份有限公司（以下简称"安迪苏"或"公司"）根据上海证券交 易所发布的《上市公司行业信息披露指引第十三号——化工》（2022年修订）和 《关于做好上市公司 2024 年第三季度报告披露工作的重要提醒》的要求，现将 公司 2024 年前三季度主要经营数据披露如下： 一、 主要产品销售情况 营业收入分产品情况 单位:元 币种:人民币 | | | | 主营业务分产品情况 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 分产品 | 营业收入 | 营业成本 | 毛利率 | 营业收 入比上 | 营业成本 比上年增 | | 毛利率比上年增 | | | | | | | | | 减（%） | | | | | | 年增减 | 减 | | | | 功能性产品 | 8,500,225,08 ...

蓝星安迪苏股份有限公司董事会 证券代码：600299 证券简称：安迪苏 公告编号：2024-041 蓝星安迪苏股份有限公司 上述股票办理完成解除担保及信托登记手续（退出登记）后，19 蓝星 EB 专 户不再持有公司股份。蓝星公司将直接持有公司股份 2,300,179,161 股，持股比例 为 85.77%。公司控股股东及实际控制人未发生变化。 特此公告。 关于控股股东解除可交换公司债券担保及信托登记办 理完成的公告 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。 蓝星安迪苏股份有限公司（以下简称"安迪苏"或"公司"）于 2024 年 10 月 22 日披露了《安迪苏关于控股股东公开发行可交换公司债券完成本息兑付及摘牌 暨拟办理解除可交换公司债券担保及信托登记的提示性公告》（公告编号：2024- 040）。公司于近日收到控股股东中国蓝星（集团）股份有限公司（以下简称"蓝 星公司"）通知，蓝星公司已在中国证券登记结算有限责任公司上海分公司办理 完成了"蓝星集团－国泰君安－19 蓝星 EB 担保及信托财产专户"（以下简称"19 蓝星 ...

关于控股股东公开发行可交换公司债券完成本息兑付 及摘牌暨拟办理解除可交换公司债券担保及信托登记 的提示性公告 本公司董事会及全体监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。 蓝星安迪苏股份有限公司（以下简称"公司"）控股股东中国蓝星（集团） 股份有限公司（以下简称"蓝星公司"） 于 2019 年 10 月 17 日公开发行可交换公 司债券，债券简称"19 蓝星 EB"，债券代码"132020"，实际发行规模人民币 45 亿元，发行期限 5 年。公司于近日收到蓝星公司书面通知，蓝星公司已于 2024 年 10 月 18 日完成上述可交换公司债券的本息兑付及摘牌工作 。 鉴于蓝星公司已完成上述可交换公司债券的本息兑付及摘牌工作，蓝星公司 拟于近日向中国证券登记结算有限责任公司上海分公司申请办理"19 蓝星 EB" 解除担保及信托登记手续，将"蓝星集团－国泰君安－19 蓝星 EB 担保及信托财 产专户"持有的公司股份 590,792,001 股划转至蓝星公司自有证券账户 。 证券代码：600299 证券简称：安迪苏 公告编号：2024-040 蓝星 ...

北京市金杜律师事务所上海分所 关于蓝星安迪苏股份有限公司 2024 年第一次临时股东大会 之法律意见书 致：蓝星安迪苏股份有限公司 北京市金杜律师事务所上海分所（以下简称金杜）接受蓝星安迪苏股份有限公司 （以下简称安迪苏或公司）的委托，根据《中华人民共和国证券法》（以下简称《证 券法》）、《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理 委员会（以下简称中国证监会）、《上市公司股东大会规则》（以下简称《股东大会 规则》）等中华人民共和国境内（以下简称中国境内，为本法律意见书之目的，不包 括香港特别行政区、澳门特别行政区和台湾地区）现行有效的法律、行政法规及规范 性文件和现行有效的《蓝星安迪苏股份有限公司章程》（以下简称《公司章程》）有 关规定，指派律师出席了公司于 2024 年 9 月 19 日召开的 2024 年第一次临时股东大会 （以下简称本次股东大会），并就本次股东大会相关事项出具本法律意见书。 为出具本法律意见书，金杜律师审查了安迪苏提供的以下文件，包括但不限于： 1. 经蓝星安迪苏股份有限公司 2023 年年度股东大会审议通过的《蓝星安迪苏股 份有限公司章程》（以下简称《公司章程》） ...