Investment Rating - The investment rating for the company is "Buy" [1][7] Core Insights - The company reported a decline in revenue but a significant increase in net profit due to volume growth and cost reductions [2][3] - The animal nutrition amino acid segment showed stable performance with improved gross margins despite challenges in the market [4] - New projects and international expansion strategies are being actively pursued, contributing to future growth [5][6] Summary by Sections Financial Performance - In Q1 2025, the company achieved revenue of 6.269 billion yuan, a year-on-year decrease of 3.36%, while net profit attributable to shareholders was 1.019 billion yuan, up 35.52% year-on-year [2][3] - The decline in revenue was primarily due to lower sales prices of key products despite volume growth [3] Cost and Margin Analysis - The animal nutrition amino acid segment experienced a 5.65% increase in sales volume, with revenue remaining stable and gross margin improving by 7.43 percentage points to 19.65% [4] - The decrease in raw material costs, particularly corn, contributed to the improved margins [4] Project Development and International Strategy - The company invested approximately 2 billion yuan in new projects in 2024, with several projects reaching production [5] - An agreement was signed to acquire assets from a fermentation company, enhancing the company's international presence and product offerings [5][6] Earnings Forecast and Valuation - Revenue forecasts for 2025 and 2026 have been adjusted downwards to 27.739 billion yuan and 30.075 billion yuan, respectively, with net profit estimates also revised [6][7] - The projected earnings per share for 2025 is 1.10 yuan, with a price-to-earnings ratio of 10 times [7]

盈利预测与估值：我们预测公司25-27 年实现营业收入272.3、299.1、308.1 亿元，同比+8.6%、+9.8%、 +3.0%；实现归母净利润30.4、33.4、36.1 亿元，同比+10.9%、+10.0%、+8.0%，对应PE 分别为10、 9、9 倍，维持"强烈推荐"评级。 风险提示：豆粕价格大幅波动；原材料成本上涨；产品价格波动等 关税摩擦背景下公司业绩有望有益于豆粕涨价预期。中国大豆严重依赖进口，其中进口自美国大豆占比 约为21%，随着中美关税摩擦升温可能导致国内大豆价格上涨进而利多豆粕价格。同时，随着国家豆粕 减量替代工作推进，豆粕价格上涨有望加速替代进程，促进氨基酸产品需求增长。并且公司大原料副产 品业务利润跟随豆粕和玉米价格，因此豆粕价格上涨有利于公司业绩释放。 持续推进分红+回购，公司兼具防御属性。2024 年度公司计划实施现金分红和回购金额合计22.7 亿元， 占年度归属于上市公司股东净利润的比例82.84%。公司持续推进回购措施，截至2025 年3 月底，公司 通过集中竞价交易方式回购股份3571 万股，占公司总股本的1.25%，支付总额为3.52 亿元。 事件：公司发布202 ...

Core Viewpoint - The article discusses significant developments in the industry, highlighting key financial metrics and trends that may impact investment opportunities and risks. Financial Performance - The company reported a revenue of 5.588 billion, indicating a substantial increase compared to previous periods [1] - The net income for the year was also notable, reflecting a strong performance in the market [1] Market Trends - There is a growing trend in consumer demand, which is expected to drive further growth in the upcoming quarters [1] - The industry is witnessing increased competition, which may affect pricing strategies and market share [1] Strategic Initiatives - The company is focusing on expanding its product offerings to capture a larger market segment [1] - Investments in technology and innovation are being prioritized to enhance operational efficiency and customer experience [1]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600873 证券简称：梅花生物 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 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假 记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 ■ (二)非经常性损益项目和金额 单位:元 币种:人民币 ■ 对公司将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损益》未列举的项目认定为非 经常性损益项目且金额重大的，以及将《公开发行证券的公司信息披露解释性公告第1号一一非经常性 损益》中列举的非经常性损益项目界定为经常性损益的项目，应说明原因。 □适用 √不适用 (三)主要会计数据、财务指标发生变动的情况、原因 □适用 □不适用 ■ 二、股东信 ...

一直在路上，所以停下脚步，只在于分享 包括： 新 材料/ 半导体 / 新能源/光伏/显示材料 等 添加 小编微信 ，遇见 志同道合 的你 写在前面 （文末有惊喜） 正文 = 在 1 is fo 基础化工 点击 最 下方 "在看"和" "并分享，"关注"材料汇 行业专题 以生物造万物. 构建 Al+新质生产力新业态 合成生物深度系列报告之一 主要观点: ● 合成生物学是生产力转型升级新方向 合成生物学是一门基于工程化的设计理念,结合生物学、化学、医 学、农学、工程学、计算机与数据科学等交叉学科技术,旨在设计 和构建新的生物系统,以实现特定的功能,其本质是让细胞为人类 工作生产想要的物质。合成生物学和发酵工程的区别在于是否对细 胞进行定向性干预,大幅提升微生物细胞工厂效率。目前合成生物 学可合成的大宗化学品仅几十种,在整体基础化学品中的占比还非 常有限,还无法颠覆性替代传统化工,但在部分领域有比较好的应 用场景,具有战略与商业角度的优势,生物制造未来提升空间巨 大。 ● Al 赋能上游+政策推动落地,合成生物学东风将至 当前,国际合成生物学优势力量主要分布在美、欧等地,其政策对 我国来说具备一定参考意义,国内也正 ...

根据《上市公司行业信息披露指引第十四号—食品制造》第十四条相关规定， 现将梅花生物科技集团股份有限公司 (以下简称"公司")2025 年第一季度经营 数据（未经审计）公告如下： 1、 按产品分： 证券代码：600873 证券简称：梅花生物 公告编号：2025-033 梅花生物科技集团股份有限公司 关于2025年第一季度经营数据公告 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个别及连带责任。 | 销售模式 | 本期营业收入（万元） | | --- | --- | | 直销 | 350,047.06 | | 代销 | 276,809.25 | | 合计 | 626,856.31 | 2025 年 4 月 21 日 | 产品类别 | 本期营业收入（万元） | | --- | --- | | 鲜味剂（谷氨酸钠、核苷酸） | 180,996.09 | | 饲料氨基酸（赖氨酸、苏氨酸、饲料级缬氨酸等） | 293,892.16 | | 医药氨基酸（谷氨酰胺、脯氨酸、异亮氨酸、鸟苷、腺苷等） | 12,152.50 | | 大原料副产品（肥料、蛋白 ...

证券代码：600873 证券简称：梅花生物 公告编号：2025-035 关于2025年员工持股计划实施进展的公告 特此公告。 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个别及连带责任。 梅花生物科技集团股份有限公司董事会 梅花生物科技集团股份有限公司（以下简称"公司"）分别于 2025 年 2 月 11 日、2025 年 2 月 27 日召开第十届董事会第十七次会议和 2025 年第一次临时 股东大会，审议通过《关于公司 2025 年员工持股计划（草案）及其摘要的议案》 《关于公司 2025 年员工持股计划管理办法的议案》《关于提请股东大会授权董事 会全权办理公司员工持股计划相关事项的议案》，具体内容详见公司于 2025 年 2 月 12 日、2025 年 2 月 28 日在上海证券交易所网站（http://www.sse.com.cn）上 披露的相关公告。 根据中国证监会《关于上市公司实施员工持股计划试点的指导意见》及《上 海证券交易所上市公司自律监管指引第 1 号—规范运作》等要求，现将公司 2025 年员工持股计划实施进展情况公 ...

证券代码：600873 证券简称：梅花生物 公告编号：2025-034 梅花生物科技集团股份有限公司 第十届董事会第十九次会议决议公告 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个别及连带责任。 一、会议召开情况 梅花生物科技集团股份有限公司（以下简称"公司"）第十届董事会第十九次 会议于 2025 年 4 月 21 日上午以现场和通讯相结合的方式召开，会议应出席董事 5 人，实际出席董事 4 人，委托出席 1 人，董事何君先生无法亲自出席会议，书 面授权委托董事长王爱军女士代为行使表决权。 会议由董事长王爱军女士主持，公司监事和部分高级管理人员列席了会议。 本次会议的召集、召开符合《公司法》和《公司章程》的规定。 二、会议审议情况 根据《公司章程》相关规定，本次对外投资事项属公司董事会权限范围内， 无需提交股东大会审议。 本议案已经公司审计委员会 2025 年第三次会议审议通过，并同意提交董事 会审议。 表决情况：同意票 5 票，反对票 0 票，弃权票 0 票。 （梅花生物科技集团股份有限公司 2025 年第一季度报告同日在上海证 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 6.27 billion, a decrease of 3.36% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 1.02 billion, representing a growth of 35.52% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 42.07% to CNY 904.57 million[4] - Basic and diluted earnings per share rose by 38.46% to CNY 0.36[4] - The weighted average return on equity increased by 1.60 percentage points to 6.78%[4] - The company reported a profit before tax of ¥1,202,262,709.83 for Q1 2025, compared to ¥875,531,219.87 in Q1 2024, marking a growth of 37.1%[21] - Earnings per share for Q1 2025 was ¥0.36, up from ¥0.26 in Q1 2024[21] Cash Flow and Liquidity - The net cash flow from operating activities surged by 1,590.89% to CNY 453.27 million, primarily due to a decrease in raw material prices[4] - In Q1 2025, the company reported a net cash flow from operating activities of ¥453,267,070.69, a significant improvement compared to a net outflow of ¥30,402,361.94 in Q1 2024[22] - The company's cash and cash equivalents decreased to RMB 3,015,835,017.01 from RMB 4,561,056,193.96, representing a decline of about 33.9%[15] - The company’s cash and cash equivalents at the end of Q1 2025 were ¥2,632,431,576.72, a decrease from ¥4,446,176,513.34 at the end of Q1 2024[23] - Total cash inflow from operating activities was ¥6,754,619,422.68, slightly down from ¥6,789,691,782.87 in the same period last year[22] - The total cash outflow for operating activities was ¥6,301,352,351.99, down from ¥6,820,094,144.81 in the same quarter last year[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 24.30 billion, up 2.05% from the end of the previous year[4] - The company's total assets amounted to RMB 24,296,858,473.57, an increase from RMB 23,809,558,011.66 at the end of December 2024, reflecting a growth of approximately 2.05%[15] - The company's total liabilities decreased to ¥8,845,396,124.40 in Q1 2025 from ¥9,234,612,710.73 in Q1 2024, reflecting a reduction of 4.22%[18] - Total equity attributable to shareholders increased to ¥15,451,462,349.17 in Q1 2025 from ¥14,574,945,300.93 in Q1 2024, representing a growth of 6.01%[18] Operational Metrics - The decline in revenue was attributed to lower market prices for key products despite an increase in sales volume for certain items[7] - The company's inventory rose to RMB 3,065,170,465.97 from RMB 2,722,279,908.07, marking an increase of around 12.63%[16] - The company's accounts receivable increased to RMB 682,688,208.89 from RMB 587,909,538.21, reflecting a growth of approximately 16.08%[15] - Research and development expenses for Q1 2025 were ¥103,233,375.21, an increase of 13.1% from ¥90,844,311.14 in Q1 2024[20] Shareholder Activities - The company repurchased a total of 35,708,400 shares, which is 1.25% of the total share capital, with a total expenditure of RMB 352,024,400, averaging between RMB 9.10 and RMB 10.68 per share[13] - The employee stock ownership plan involves 290 participants with a total subscription of 225,110,000 shares, indicating strong employee engagement[12] - The company has not reported any changes in the top 10 shareholders or the top 10 unrestricted circulating shareholders due to securities lending activities[10] - The company is committed to adhering to regulatory requirements regarding share repurchase and will continue to disclose relevant information in a timely manner[13]

梅花生物（600873）公告，2025年第一季度营业收入62.69亿元，同比下降3.36%。净利润10.19亿元， 同比增长35.52%。 ...