Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of RMB 28.00 [1]. Core Insights - The company is expected to see a significant acceleration in performance in Q4, driven by high demand and improved capacity utilization. The projected revenue for 2025 is RMB 1.38 billion, representing a year-on-year increase of 19.75%, with net profit expected to reach RMB 370 million, up 48.9% [5][6]. - The company is well-positioned to benefit from the growing demand for functional sugars, with new production capacity expected to come online in 2026, further enhancing revenue growth [7][8]. Financial Projections - Revenue projections for the upcoming years are as follows: - 2024: RMB 1.15 billion (+32.64%) - 2025: RMB 1.38 billion (+19.74%) - 2026: RMB 1.74 billion (+25.99%) - 2027: RMB 2.23 billion (+28.52%) [4]. - Net profit forecasts are: - 2024: RMB 246 million (+27.26%) - 2025: RMB 367 million (+49.45%) - 2026: RMB 471 million (+28.27%) - 2027: RMB 620 million (+31.70%) [4]. - The company’s EPS is projected to increase from RMB 0.58 in 2024 to RMB 1.48 in 2027 [4]. Valuation Metrics - The company’s PE ratio is expected to decrease from 38.44 in 2024 to 15.23 in 2027, indicating improving valuation as earnings grow [4]. - The PB ratio is projected to decline from 5.62 in 2024 to 3.37 in 2027, reflecting a more attractive valuation over time [4]. - The EV/EBITDA ratio is expected to fall from 24.75 in 2024 to 9.79 in 2027, suggesting enhanced operational efficiency and profitability [4].

Core Viewpoint - The company is expected to achieve significant revenue and profit growth in 2025, driven by optimized product structure and increased sales of high-margin products [1][2]. Group 1: Financial Performance - The company anticipates total revenue of 1.379 billion yuan in 2025, representing a year-on-year increase of 19.8% [1] - The projected net profit attributable to shareholders is 366 million yuan, up 48.9% year-on-year [1] - The expected net profit after deducting non-recurring items is 361 million yuan, reflecting a 55.9% increase compared to the previous year [1] - For Q4 2025, the company forecasts revenue of 410 million yuan, a year-on-year growth of 23.8% [1] - The projected net profit for Q4 2025 is 101 million yuan, showing a 60.6% increase year-on-year [1] - The expected net profit after deducting non-recurring items for Q4 2025 is also 101 million yuan, with a year-on-year growth of 72.0% [1] Group 2: Product and Market Development - The company has increased the sales proportion of high-margin resistant dextrin, contributing to profit growth [2] - The company is leveraging its production capacity from projects like the 30,000-ton soluble dietary fiber and 15,000-ton crystalline sugar projects to enhance efficiency and reduce costs [2] - The first batch of D-allulose products has been launched, with domestic demand expected to grow rapidly [3] - The company has a leading production layout for D-allulose, with a current capacity of 15,000 tons of crystalline sugar and plans for a new smart factory in Thailand, expected to add 12,000 tons of crystalline D-allulose and 7,000 tons of liquid D-allulose by 2026 [3] - The domestic demand for D-allulose is projected to reach 150,000 to 200,000 tons in the next 3-5 years, indicating a strong market potential [3] Group 3: Profit Forecast and Investment Rating - The company is projected to achieve net profits of 365 million, 471 million, and 607 million yuan for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 49%, 29%, and 29% [4] - The current stock price corresponds to a price-to-earnings ratio (PE) of 26X, 20X, and 16X for 2025, 2026, and 2027 [4] - The investment rating is maintained at "strongly recommended" [4]

Group 1: Company Fundraising and Investment - Company plans to use 500 million yuan of raised funds to increase capital in its wholly-owned subsidiaries for the implementation of a DRAM investment project [1] - Zhuhai Hengqin Chip Storage Co., Ltd. will receive 30 million yuan, and Hefei Chip Storage Co., Ltd. and Xi'an Chip Storage Co., Ltd. will receive 50 million yuan and 30 million yuan respectively for the DRAM project [1] Group 2: Profit Forecasts and Turnarounds - Yiling Pharmaceutical expects a net profit of 1.2 billion to 1.3 billion yuan in 2025, recovering from a loss of 725 million yuan in the previous year [2] - Liard anticipates a net profit of 300 million to 380 million yuan in 2025, compared to a loss of 889 million yuan last year, driven by a new strategic cycle focusing on AI [2] - Daming City forecasts a net profit of 140 million to 165 million yuan in 2025, recovering from a loss in the previous year, aided by reduced asset impairment losses [3] - Guanghua Technology expects a net profit of 85 million to 120 million yuan in 2025, recovering from a loss of 205 million yuan last year, due to expansion in specialized chemicals and PCB sectors [3] - Boteng Co. anticipates a net profit of 80 million to 105 million yuan in 2025, recovering from a loss of 288 million yuan, supported by operational efficiency improvements [4] - Shiyida expects a net profit of 31 million to 46 million yuan in 2025, recovering from a loss of 2.34 million yuan last year, driven by business development and cost control [4] - Guochuang High-tech forecasts a net profit of 16 million to 24 million yuan in 2025, recovering from a loss of 49 million yuan, aided by improved receivables management [5][6] Group 3: Share Buybacks - Hengyi Petrochemical plans to repurchase shares with a total fund of no less than 500 million yuan and no more than 1 billion yuan, with a maximum price of 15 yuan per share [7] - Yunyi Electric plans to repurchase shares with a total fund of no less than 100 million yuan and no more than 150 million yuan, with a maximum price of 17 yuan per share [7] - Xidian Pharmaceutical intends to repurchase shares with a total fund of no less than 25 million yuan and no more than 50 million yuan, with a maximum price of 42 yuan per share [7] Group 4: Performance Highlights - Te Yi Pharmaceutical expects a net profit of 70 million to 90 million yuan in 2025, a growth of 241.55% to 339.13% year-on-year [8] - Xingqi Eye Medicine anticipates a net profit of 662 million to 749 million yuan in 2025, a growth of 95.82% to 121.56% year-on-year [8] - Tianhe Co. forecasts a net profit of 41 million to 60 million yuan in 2025, a growth of 84.35% to 169.78% year-on-year [8] - Ruichuang Micro-Nano expects a net profit of approximately 1.1 billion yuan in 2025, a 93% increase year-on-year [9] - Zhongyuan Co. anticipates a net profit of 139 million to 158 million yuan in 2025, a growth of 80% to 105% year-on-year [9] Group 5: Important Corporate Developments - Aolaide has received acceptance for its application to issue securities on the Science and Technology Innovation Board [14] - *ST Songfa's subsidiary signed contracts for the construction of two VLCC super-large oil tankers, expected to positively impact future performance [15] - Chongda Technology's subsidiary signed an investment agreement for a 1 billion yuan IC packaging project in Jiangsu Province [15] - Yinglian Co. signed a strategic agreement with LG Chem to establish a joint laboratory for innovative materials in lithium battery applications [16]

证券日报网讯1月22日，百龙创园（605016）在互动平台回答投资者提问时表示，截至2026年1月20日， 公司股东总户数为12659户。 ...

（文章来源：证券日报） 证券日报网讯 1月22日，百龙创园发布公告称，公司2025年实现营业总收入137，905.37万元，同比增长 19.75%；归属于上市公司股东的净利润36，578.32万元，同比增长48.94%。 ...

百龙创园1月22日发布的2025年度业绩快报显示，公司报告期内实现营业总收入13.79亿元，同比增长 19.75%；归属于上市公司股东的净利润3.66亿元，同比增长48.94%；基本每股收益0.87元。 ...

主要原因系:1、公司产品结构优化调整。膳食纤维系列产品中高毛利的抗性糊精产品的销售占比进一步 提升，带动了利润的增长。2、产品成本优化。公司依托其研发技术，推进生产工艺技术改造，优化物 料成本结构，降低直接材料成本。3、产能利用率提高。"年产30,000吨可溶性膳食纤维项目"和"年产 15000吨结晶糖项目"随着公司产品订单需求的增加，产能利用率进一步提升。 格隆汇1月22日丨百龙创园(605016.SH)公布2025年年度业绩快报公告，2025年，公司生产经营正常，境 内外业务正常开展，收入稳步增长、利润快速增长。2025年，公司实现营业总收入13.79亿元，同比增 长19.75%；归属于上市公司股东的净利润3.66亿元，同比增长48.94%；归属于上市公司股东的扣除非经 常性损益的净利润3.61亿元，同比增长55.87%；基本每股收益0.87元，同比增长50.00%； ...

智通财经APP讯，百龙创园(605016.SH)发布2025年年度业绩快报，2025年，公司实现营业总收入13.79 亿元，同比增长19.75%;归属于上市公司股东的净利润3.66亿元，同比增长48.94%。 ...

证券代码：605016 证券简称：百龙创园 公告编号：2026-001 山东百龙创园生物科技股份有限公司 2025 年年度业绩快报公告 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。 本公告所载 2025 年年度主要财务数据为初步核算数据，未经会计师事务所 审计，具体数据以公司 2025 年年度报告中披露的数据为准，提请投资者注意投 资风险。 三、风险提示 一、2025 年年度主要财务数据和指标 单位：万元 | 项 目 | 本报告期 | 上年同期 | 增减变动幅度（％） | | --- | --- | --- | --- | | 营业总收入 | 137,905.37 | 115,165.23 | 19.75 | | 营业利润 | 43,221.56 | 28,512.74 | 51.59 | | 利润总额 | 43,163.13 | 28,530.83 | 51.29 | | 归属于上市公司股东的净利润 | 36,578.32 | 24,559.85 | 48.94 | | 归属于上市公司股东的扣除非 经常性损益的净利润 ...

百龙创园发布业绩快报，2025年营业总收入13.79亿元，同比增长19.75%；净利润3.66亿元，同比增长 48.94%。主要原因系公司产品结构优化调整，产品成本优化，产能利用率提高。 ...