Investment Rating - The report maintains an "Outperform" rating for the company, indicating a positive outlook compared to the market [5][6]. Core Insights - The company's Q3 2024 performance met expectations, with a year-on-year revenue increase of 25% to 820 million yuan and a net profit increase of 29% to 183 million yuan [5][6]. - The growth in revenue is attributed to increased sales of dietary fiber and healthy sweeteners, while the decline in profit margin is due to a decrease in high-margin dietary fiber sales [5][6]. - The company plans to issue convertible bonds to raise up to 780 million yuan for new projects, including a health food raw material factory in Thailand, which is expected to enhance international competitiveness and reduce production costs [5][6]. Financial Summary - For the first three quarters of 2024, the company reported total revenue of 820 million yuan, with a net profit of 183 million yuan [6]. - The projected revenue for 2024 is 1.198 billion yuan, with a net profit forecast of 263 million yuan, reflecting a year-on-year growth rate of 36.2% [6][8]. - The earnings per share (EPS) for 2024 is estimated at 0.81 yuan, with a price-to-earnings (PE) ratio of 21 times [6][8]. Revenue Breakdown - In Q3 2024, the company achieved revenue of 289 million yuan, with dietary fiber, healthy sweeteners, and prebiotics contributing 151 million yuan, 45 million yuan, and 82 million yuan respectively [5][6]. - The dietary fiber segment saw a year-on-year growth of 23%, while the healthy sweeteners segment grew by 30% [5][6]. Future Outlook - The company is expected to benefit from the approval of D-allohexose as a new food ingredient in China and the EU, which could drive demand for its products [5][6]. - The anticipated completion of new production facilities for soluble dietary fiber and crystalline sugar is expected to further enhance the company's growth trajectory [5][6].

Investment Rating - The investment rating for the company is "Buy" and is maintained [3][7]. Core Insights - The company reported a significant year-on-year increase in revenue and profit for the first three quarters of 2024, achieving revenue of 820 million yuan (up 25.5% YoY) and a net profit attributable to shareholders of 180 million yuan (up 29.2% YoY) [3][4]. - The third quarter alone saw revenue of 290 million yuan (up 19.9% YoY, up 3.5% QoQ) and a net profit of 60 million yuan (up 25.5% YoY, down 4.5% QoQ) [3][4]. - The company is experiencing strong growth in its overseas revenue, which increased by 42.5% YoY, while domestic revenue decreased by 10.1% YoY [4]. Financial Performance - The company has fully launched new production capacities, including a soluble dietary fiber project with an annual output of 30,000 tons and a crystallized sugar project with an annual output of 15,000 tons [5]. - As of the end of Q2 2024, the company's fixed assets increased from 320 million yuan in Q1 to 870 million yuan, primarily due to the new production lines becoming operational [5]. - The gross margin for Q3 was 32.5% (down 1.2 percentage points YoY, down 0.7 percentage points QoQ), while the net margin was 21.8% (up 1.0 percentage points YoY, down 1.8 percentage points QoQ) [5]. Future Projects - The company plans to raise up to 780 million yuan through convertible bonds to invest in a new health food raw material factory in Thailand and expand its functional sugar production [6]. - The establishment of the Thailand production base is expected to reduce production costs and improve export conditions to the U.S. market [6]. - The company is committed to developing 5-6 new product specifications annually and has introduced several new products in 2023, with plans for more in 2024 [6]. Market Position - The company is recognized as a global leader in the food additive industry, particularly in dietary fibers and sugar substitutes [7]. - Forecasted net profits for 2024-2026 are projected to be 260 million, 340 million, and 440 million yuan, respectively, supporting the "Buy" rating [7].

百龙创园（ [Table_StockNameRptType] 605016） 公司点评 Q3 业绩符合预期，阿洛酮糖持续放量 | --- | --- | --- | |------------------------------------------------------------------------------------------------------------------|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

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证券代码：605016 证券简称：百龙创园 公告编号：2024-061 山东百龙创园生物科技股份有限公司 关于 2024 年三季度利润分配预案的公告 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个别及连带责任。 重要内容提示： ●每股分配比例及转增比例：A 股每 10 股派发现金红利 0.20 元（含税）。 一、利润分配预案内容 山东百龙创园生物科技股份有限公司（以下简称"公司"）2024 年三季度合 并报表归属于上市公司股东的净利润 18,259.16 万元，公司母公司累计未分配利 润为 77,087.29 万元，上述数据未经审计。考虑公司所处经营发展阶段及未来资 金需求，公司 2024 年三季度利润分配方案如下： 拟以未来实施本次利润分配方案时股权登记日的总股本为基数，向全体股东 每 10 股派发现金红利人民币 0.20 元（含税）。截至 2024 年 9 月 30 日，公司总 股本为 323,086,400 股，以此为基数测算，合计拟派发现金红利人民币 6,461,728.00 元（含税），占公司当年归属于上市公司股东的净利润的 ...

二、 董事会会议审议情况 1、审议通过《关于 2024 年三季度报告的议案》 具体内容详见公司同日在上海证券交易所官方网站及指定媒体上披露的 《2024 年三季度报告》。 证券代码：605016 证券简称：百龙创园 公告编号：2024-063 山东百龙创园生物科技股份有限公司 第三届董事会第十三次会议决议公告 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、董事会会议召开情况 山东百龙创园生物科技股份有限公司（以下简称"公司"）第三届董事会第 十三次会议于 2024 年 10 月 30 日上午 9：00 在公司办公楼一楼第二会议室召开， 本次会议的会议通知和材料已于 2024 年 10 月 20 日通过邮件等方式发出。会议 由董事长窦宝德先生主持，应到董事 9 人，实到董事 9 人，公司全体监事及董事 会秘书列席本次会议。 本次会议的召集、召开符合有关法律、行政法规、部门规章、规范性文件和 《公司章程》的规定，表决形成的决议合法、有效。 2、审议通过《关于 2024 年三季度利润分配预案的议案》 具体内容详见公司同日 ...

证券代码：605016 证券简称：百龙创园 公告编号：2024-065 山东百龙创园生物科技股份有限公司 关于召开 2024 年三季度业绩说明会的公告 本次投资者说明会以网络互动形式召开，公司将针对 2024 年三季度的经营 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。 二、 说明会召开的时间、地点 （一） 会议召开时间：2024 年 11 月 11 日 上午 09:00-10:00 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。 重要内容提示： 会议召开时间：2024 年 11 月 11 日(星期一) 上午 09:00-10:00 会 议 召 开 地 点 ： 上海证券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2024 年 11 月 04 日(星期一) 至 11 月 08 日(星期五)16:00 前 登录上证路演中心网站首页点击"提问预征集 ...

1、审议通过《关于 2024 年三季度报告的议案》 本公司监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个别及连带责任。 一、监事会会议召开情况 山东百龙创园生物科技股份有限公司（以下简称"公司"）第三届监事会第 十三次会议于 2024 年 10 月 30 日上午 10：00 在公司办公楼一楼第二会议室召 开，本次会议的会议通知和材料已于 2024 年 10 月 20 日通过邮件等方式发出。 监事会主席张德山先生担任本次会议召集人和主持人。本次会议应出席监事 5 人， 实际出席 5 人。 本次会议的召集、召开符合有关法律、行政法规、部门规章、规范性文件和 《公司章程》的规定，表决形成的决议合法、有效。 二、 监事会会议审议情况 证券代码：605016 证券简称：百龙创园 公告编号：2024-064 山东百龙创园生物科技股份有限公司 第三届监事会第十三次会议决议公告 经审议，监事会认为： 1）公司 2024 年三季度报告的编制和审议程序符合法律、法规、《公司章程》 和公司内部管理制度等各项规定； 2）公司 2024 年三季度报告的内容和格式符合 ...

Financial Performance - The company's operating revenue for Q3 2024 reached ¥289,039,012.89, representing a year-on-year increase of 19.92%[2] - The net profit attributable to shareholders for the same period was ¥63,029,321.01, reflecting a growth of 25.46% compared to the previous year[2] - The net profit after deducting non-recurring gains and losses was ¥61,597,465.11, which is an increase of 27.08% year-on-year[2] - Total operating revenue for the first three quarters of 2024 reached ¥820,387,384.32, a 25.5% increase from ¥653,792,099.94 in the same period of 2023[11] - Operating profit for the first three quarters of 2024 was ¥208,410,177.11, up 23.4% from ¥168,861,303.65 in the previous year[12] - Net profit attributable to shareholders for the first three quarters of 2024 was ¥182,591,645.07, representing a 29.2% increase compared to ¥141,339,479.77 in 2023[12] - The basic earnings per share for the first three quarters of 2024 was ¥0.57, compared to ¥0.45 in the same period of 2023[13] Cash Flow and Investments - The cash flow from operating activities for the year-to-date period was ¥166,644,630.68, showing a 15.80% increase[2] - Cash flow from operating activities totaled ¥847,472,782.81 in the first three quarters of 2024, compared to ¥658,899,880.93 in the same period of 2023, marking a 28.7% increase[14] - The net cash flow from operating activities was CNY 166,644,630.68, an increase from CNY 143,909,006.92 in the previous year, representing a growth of approximately 15.1%[15] - The total cash inflow from investment activities was CNY 685,771,844.49, compared to CNY 564,255,893.73 in the same period last year, indicating an increase of about 21.5%[15] - The cash outflow for investment activities totaled CNY 866,738,011.35, up from CNY 681,213,802.19, reflecting a rise of approximately 27.3%[15] - The net cash flow from investment activities was negative at CNY -180,966,166.86, worsening from CNY -116,957,908.46 year-over-year[15] - Cash and cash equivalents at the end of the period were CNY 105,078,895.40, down from CNY 225,148,141.47, a decrease of about 53.3%[16] - The company received CNY 90,000,000.00 in cash from borrowings, an increase from CNY 50,000,000.00 in the previous year, representing an 80% increase[15] - The cash outflow for financing activities was CNY 88,309,596.35, compared to CNY 32,714,725.56 last year, indicating a significant increase of approximately 169.5%[15] - The company paid CNY 67,750,025.75 in dividends and interest, up from CNY 31,792,526.09, which is an increase of about 112%[15] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥1,927,381,413.65, up 9.87% from the end of the previous year[3] - Current assets totaled CNY 856.61 million, up from CNY 773.74 million, indicating a growth of approximately 10.7%[8] - Accounts receivable increased significantly to CNY 257.29 million from CNY 167.20 million, representing a growth of about 54%[8] - Inventory rose to CNY 158.23 million, compared to CNY 152.05 million, marking an increase of approximately 4.2%[9] - Non-current assets totaled CNY 1.07 billion, up from CNY 980.44 million, showing an increase of about 9.2%[9] - Fixed assets surged to CNY 899.06 million from CNY 329.84 million, reflecting a substantial increase of approximately 172%[9] - Total liabilities increased to ¥306,301,533.46 in Q3 2024, compared to ¥246,352,113.80 in Q3 2023, reflecting a growth of 24.4%[10] - The company’s total liabilities increased, with accounts payable at CNY 122.56 million, down from CNY 186.95 million, indicating a decrease of approximately 34.4%[9] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 7,173[6] - The largest shareholder, Dou Baode, holds 47.34% of the shares, totaling 152,943,700 shares[6] - Total equity attributable to shareholders reached ¥1,621,079,880.19 in Q3 2024, up from ¥1,507,827,547.12 in Q3 2023, an increase of 7.5%[10] Government Support and R&D - The company received government subsidies amounting to ¥1,667,551.34 during the reporting period[4] - Research and development expenses for the first three quarters of 2024 were ¥25,439,807.94, slightly up from ¥24,621,458.89 in 2023[11] Other Financial Metrics - The weighted average return on equity for the reporting period was 4.09%, an increase of 0.54 percentage points[2] - The company reported a decrease in deferred income from ¥1,410,727.62 in Q3 2023 to ¥640,008.30 in Q3 2024, a reduction of 54.7%[10] - The impact of exchange rate changes on cash and cash equivalents was CNY 14,326.80, slightly up from CNY 13,345.30[16] - The net increase in cash and cash equivalents was CNY -12,616,805.73, a decline from CNY 44,249,718.20 in the previous year[16] - The company is focusing on expanding its market presence and developing new technologies, although specific figures were not disclosed in the report[8]

证券代码：605016 证券简称：百龙创园 公告编号：2024-062 山东百龙创园生物科技股份有限公司 关于 2024 年三季度主要经营数据的公告 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个别及连带责任。 根据《上海证券交易所上市公司自律监管指引第 3 号——行业信息披露》之 《第十四号——食品制造》相关规定，现将山东百龙创园生物科技股份有限公司 （简称"公司"）2024 年三季度主要经营数据（未经审计）公告如下： 一、报告期主要经营数据 2024 年 1-9 月，实现营业收入 82,038.74 万元，同比增长 25.48%。实现主 营业务收入为 78,320.53 万元，同比增长 21.36%。实现归属于上市公司股东净 利润 18,259.16 万元，同比增长 29.19%。主营业务收入构成情况具体如下： 1、按产品分类情况 2、按地区分类情况 | | | 月 | | | | --- | --- | --- | --- | --- | | 2024 | 年 | 1-9 | 2023 年 1-9 | 月 | 1 单位：万元 项 ...