证券代码：603231 证券简称：索宝蛋白 宁波索宝蛋白科技股份有限公司 投资者关系活动记录表 编号：2024-004 | --- | --- | --- | --- | --- | |------------------------|------------------------------------------|-------------|-----------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | | 投资者关系活动类别 | ☐特定对象调研 | ☐分析师会议 | | | | | ☐ 媒体采访 | 业绩说明会 | | | | | ☐ 新闻发布会 | ☐路演活动 | | | | | ☐ 现场参观 | | | ...

[Table_MainInfo] 公司研究/食品 证券研究报告 索宝蛋白（603231）公司季报点评 2024 年 11 月 05 日 [Table_InvestInfo] 投资评级 优于大市 维持 | --- | --- | |-----------------------------------------------------|-------------| | 股票数据 | | | 11 [ Table_StockInfo 月 04 日收盘价（元） ] | 17.62 | | 52 周股价波动（元） | 13.87-35.30 | | 总股本 / 流通 A 股（百万股） | 191/48 | | 总市值 / 流通市值（百万元） | 3374/843 | | 相关研究 | | | [Table_ReportInfo] 《全球领先植物蛋白生产商，海外 | & 直销快速 | | 增长》 2024.03.28 | | 市场表现 [Table_QuoteInfo] -49.20% -38.20% -27.20% -16.20% -5.20% 5.80% 2023/11 2024/2 2024/5 2024/8 ...

Financial Performance - Revenue for Q3 2024 was RMB 383.09 million, a decrease of 13.15% compared to the same period last year[2] - Net profit attributable to shareholders for Q3 2024 was RMB 20.88 million, a significant decrease of 51.95% year-over-year[3] - Net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2024 was RMB 17.82 million, down 59.61% compared to the same period last year[3] - Basic earnings per share (EPS) for Q3 2024 was RMB 0.11, a decrease of 63.33% year-over-year[3] - Total operating income for the first three quarters of 2024 was 1,155,092,649.30, a decrease from 1,288,623,299.75 in the same period of 2023[14] - Net profit for the first three quarters of 2024 was 91,680,531.08, down from 115,689,096.97 in the same period of 2023[16] - Net profit attributable to parent company shareholders was RMB 91.68 million, a decrease of 20.7% compared to RMB 115.69 million in the same period last year[17] - Basic earnings per share (EPS) was RMB 0.48, down 40.7% from RMB 0.81 in the same period last year[17] - Revenue from sales of goods and services was RMB 1.23 billion, a decrease of 8.1% compared to RMB 1.34 billion in the same period last year[18] Cash Flow and Liquidity - Operating cash flow for the first nine months of 2024 was RMB 118.12 million, down 24.35% compared to the same period last year[3] - Cash flow from operating activities was RMB 118.12 million, a decrease of 24.4% compared to RMB 156.15 million in the same period last year[18] - Cash flow from investing activities was negative RMB 760.66 million, a significant increase in outflow compared to negative RMB 119.67 million in the same period last year[19] - Cash flow from financing activities was negative RMB 249.14 million, a substantial increase in outflow compared to negative RMB 47.96 million in the same period last year[19] - Cash and cash equivalents at the end of the period were RMB 184.01 million, a decrease of 82.8% compared to RMB 1.07 billion at the beginning of the period[19] - Payments for goods and services were RMB 1.04 billion, a decrease of 8.1% compared to RMB 1.13 billion in the same period last year[18] - Tax refunds received were RMB 53.07 million, an increase of 11.2% compared to RMB 47.71 million in the same period last year[18] - Payments for employee compensation were RMB 73.06 million, a slight increase of 0.7% compared to RMB 72.55 million in the same period last year[18] Assets and Liabilities - Total assets as of the end of Q3 2024 were RMB 2.03 billion, a decrease of 7.03% compared to the end of the previous year[3] - Total assets decreased to 2,032,148,853.44 from 2,185,778,622.48 compared to the previous period[13] - Total liabilities decreased to 187,222,944.97 from 252,211,492.59 compared to the previous period[14] - Shareholders' equity increased to 1,844,925,908.47 from 1,933,567,129.89 compared to the previous period[14] - Monetary funds as of September 30, 2024, amount to 1,073,149,114.80 RMB[12] - Accounts receivable as of September 30, 2024, amount to 174,670,898.16 RMB[12] - Inventory as of September 30, 2024, amount to 215,138,307.96 RMB[12] - Total current assets as of September 30, 2024, amount to 1,488,805,031.41 RMB[12] - Fixed assets as of September 30, 2024, amount to 605,532,724.01 RMB[12] - Construction in progress as of September 30, 2024, amount to 10,332,660.14 RMB[12] Profitability and Returns - The company's weighted average return on equity (ROE) for Q3 2024 was 1.14%, a decrease of 3.68 percentage points compared to the same period last year[3] - Non-recurring gains and losses for the first nine months of 2024 amounted to RMB 3.06 million, primarily due to government subsidies and financial asset gains[5][6] - The decrease in net profit was mainly due to a decline in product and raw material prices, with product prices falling more than raw material prices[8] - The decline in EPS was attributed to both the decrease in net profit and the increase in share capital following the company's initial public offering[8] - Financial expenses showed a significant improvement, with a net gain of 7,629,563.05 in the first three quarters of 2024 compared to a net loss of 35,687.53 in the same period of 2023[16] - Other income increased to 14,966,791.57 in the first three quarters of 2024 from 10,146,852.98 in the same period of 2023[16] - Investment income rose to 7,085,298.38 in the first three quarters of 2024 from 348,439.53 in the same period of 2023[16] Shareholder Information - Total number of ordinary shareholders at the end of the reporting period is 22,302[9] - Shandong Wonderful Industrial Group Co., Ltd. holds 82,748,091 shares, representing 43.22% of total shares[9] - Jinan Caijin Fosun Weishi Equity Investment Fund Partnership holds 13,473,046 shares, representing 7.04% of total shares[9] - Bunge (Shanghai) Management Co., Ltd. holds 7,179,715 shares, representing 3.75% of total shares[9] Operating Costs and Expenses - Operating costs for the first three quarters of 2024 were 1,073,407,161.58, a decrease from 1,157,315,186.85 in the same period of 2023[16] - R&D expenses increased to 8,089,606.75 in the first three quarters of 2024 from 7,330,670.29 in the same period of 2023[16]

证券代码：603231 证券简称：索宝蛋白 宁波索宝蛋白科技股份有限公司 投资者关系活动记录表 编号：2024-003 | --- | --- | --- | --- | |------------------------|------------------------------------------|-------------|--------------------------------------------------------------------------------------------------------------------| | | | | | | 投资者关系活动类别 | ☐特定对象调研 | ☐分析师会议 | | | | ☐ 媒体采访 | 业绩说明会 | | | | ☐ 新闻发布会 | ☐路演活动 | | | | ☐ 现场参观 | | | | | ☐ 其他（请文字说明其他活动内容） | | | | 参与单位名称及人员姓名 | | | 线上参与公司2024年半年度业绩说明会的全体投资者 | | 时间 | 2024年09月19日 | | 15:30-16:30 | | 地 ...

2024 年半年度报告 公司代码：603231 公司简称：索宝蛋白 宁波索宝蛋白科技股份有限公司 2024 年半年度报告 1 / 169 2024 年半年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确性、 完整性，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。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人刘季善、主管会计工作负责人房吉国及会计机构负责人（会计主管人员）陆燕宏 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 公司2024年半年度报告中涉及的公司未来计划、发展战略等前瞻性陈述，因存在不确定性， 不构成公司对投资者的实质承诺，敬请投资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司 ...

证券代码：603231 证券简称：索宝蛋白 宁波索宝蛋白科技股份有限公司 投资者关系活动记录表 编号：2024-002 投资者关系活动类别 ☐特定对象调研 ☐分析师会议 ☐媒体采访 业绩说明会 ☐新闻发布会 ☐路演活动 ☐现场参观 ☐其他（请文字说明其他活动内容） 线上参与公司2023年度暨2024年第一季度业绩说明会的全体 参与单位名称及人员姓名 投资者 2024年05月13日 16:30-17:30 时间 价值在线（https://www.ir-online.cn/）网络互动 地点 董事长 刘季善 董事会秘书、财务总监 房吉国 上市公司接待人员姓名 独立董事 宿献荣 1.公司以后是否会直接面向市场进行产品销售？ ...

证券代码：603231 证券简称：索宝蛋白 宁波索宝蛋白科技股份有限公司 投资者关系活动记录表 编号：2024-002 投资者关系活动类别 ☐特定对象调研 ☐分析师会议 ☐媒体采访 业绩说明会 ☐新闻发布会 ☐路演活动 ☐现场参观 ☐其他（请文字说明其他活动内容） 线上参与公司2023年度暨2024年第一季度业绩说明会的全体 参与单位名称及人员姓名 投资者 2024年05月13日 16:30-17:30 时间 价值在线（https://www.ir-online.cn/）网络互动 地点 董事长 刘季善 董事会秘书、财务总监 房吉国 上市公司接待人员姓名 独立董事 宿献荣 1.公司以后是否会直接面向市场进行产品销售？ ...

2024年第一季度报告 证券代码：603231 证券简称：索宝蛋白 宁波索宝蛋白科技股份有限公司 2024 年第一季度报告 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 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 ...

2023年年度报告 公司代码：603231 公司简称：索宝蛋白 宁波索宝蛋白科技股份有限公司 2023 年年度报告 ...

Investment Rating - The report assigns an "Outperform" rating to Suobao Protein (603231) [2] Core Views - Suobao Protein is a global leader in plant-based protein production with a complete soybean protein deep-processing industrial chain [6] - The company has achieved a revenue CAGR of 20.2% and net profit CAGR of 36.6% from 2019 to 2022 [6] - The soybean protein industry has broad prospects, with China being the largest soybean consumer globally [7] - The company has strong brand recognition both domestically and internationally, holding about 10% of the domestic soybean protein market [8] - Direct sales account for over 60% of total sales, showing a continuous upward trend [11] Financial Performance - Revenue is expected to reach 1.73 billion yuan in 2023, with net profit of 163 million yuan [9] - Gross margin is projected to improve from 12.8% in 2023 to 14.7% in 2025 [9] - EPS is forecasted to grow from 0.85 yuan in 2023 to 1.22 yuan in 2025 [9] - ROE is expected to remain stable around 16.7-16.9% from 2023 to 2025 [9] Business Segments - Soybean protein business is expected to maintain a 25% revenue growth rate from 2023 to 2025 [13] - Non-GMO refined soybean oil business is projected to recover with 25% growth in 2024 [19] - Textured protein business is forecasted to grow at 20% in 2024 and 15% in 2025 [20] Valuation - The report suggests a PE valuation range of 20-25x for 2024, corresponding to a fair value range of 20.20-25.25 yuan per share [14] - The average PE ratio of comparable companies is 33.08x for 2024 [22] Market Performance - The stock price closed at 18.75 yuan on March 28, 2024 [2] - The 52-week price range is 15.00-35.30 yuan [2] - The company's market capitalization stands at 3.59 billion yuan [2]