Investment Rating - The report assigns an "Outperform" rating to the company with a target price of RMB 13.80, based on a projected 15x PE for 2025 [1][9]. Core Insights - The company achieved a net profit attributable to shareholders of RMB 585 million in 2024, representing a year-on-year increase of 148.10%. The net profit after non-recurring items grew by 167.68% to RMB 511 million [1][9]. - Revenue for 2024 is expected to reach RMB 5.29 billion, reflecting a year-on-year growth of 28.37%. In Q4 2024, revenue surged to RMB 1.39 billion, marking a quarter-on-quarter increase of 182.01% and a year-on-year increase of 31.44% [1][9]. - Fresh product sales volume increased by 99.17% year-on-year, reaching 49,206.57 tons [1][9]. Financial Summary - The company’s financial projections for 2025-2027 indicate net profits of RMB 926 million, RMB 1.31 billion, and RMB 1.60 billion, with corresponding EPS of RMB 0.92, RMB 1.30, and RMB 1.59 [3][9]. - The company plans to distribute cash dividends totaling approximately RMB 352 million for 2024, with a payout ratio of 60.18% [1][9]. - The company has a net asset return rate projected to increase from 15.3% in 2024 to 28.4% by 2027 [3][9]. Yield and Land Resources - The company’s yield per acre is expected to grow from 1.3 tons/acre in the 2023/2024 season to over 1.4 tons/acre in the 2024/2025 season, driven by tree age and improved agricultural techniques [10]. - The company has transferred approximately 56,000 acres of land, with an expected production area of 35,000-40,000 acres by the 2025/2026 season [10].

Investment Rating - The report assigns an "Outperform" rating to the company with a target price of RMB 13.80, based on a projected 15x PE for 2025 [1][9]. Core Insights - The company achieved a net profit attributable to shareholders of RMB 585 million in 2024, representing a year-on-year increase of 148.10%. The net profit after non-recurring items grew by 167.68% to RMB 511 million [1][9]. - Revenue for 2024 is expected to reach RMB 5.29 billion, reflecting a year-on-year growth of 28.37%. In Q4 2024, revenue surged to RMB 1.39 billion, marking a quarter-on-quarter increase of 182.01% and a year-on-year increase of 31.44% [1][9]. - The company reported a significant increase in fresh product sales volume, which grew by 99.17% year-on-year to 49,206.57 tons [1][9]. Financial Summary - The financial projections for the company indicate a net profit attributable to shareholders of RMB 926 million, RMB 1.31 billion, and RMB 1.60 billion for the years 2025, 2026, and 2027, respectively. Corresponding EPS is projected at RMB 0.92, RMB 1.30, and RMB 1.59 [3][9]. - The company’s revenue is forecasted to grow from RMB 5.29 billion in 2024 to RMB 8.56 billion by 2027, with a compound annual growth rate of approximately 15.7% [3][9]. - The net asset return rate is expected to increase from 15.3% in 2024 to 28.4% by 2027, indicating improved profitability [3][9]. Operational Highlights - The company has successfully increased its yield per acre, achieving approximately 1.3 tons/acre in the 2023/2024 season and over 1.4 tons/acre in the 2024/2025 season, attributed to improved agricultural techniques and tree age [10]. - The company has transferred around 56,000 acres of land, with an expected production area of 35,000-40,000 acres by the 2025/2026 season, indicating strong growth potential in land utilization [10].

Group 1 - Shareholders of Alade (301419.SZ) plan to reduce their holdings by no more than 1.50% within three months after 15 trading days through centralized bidding and/or block trading [1] - Shareholders of Dawi Technology (600589.SH) intend to reduce their holdings by no more than 3% within three months after 15 trading days through centralized bidding and block trading [1] - Employees of Dingzhi Technology (873593.BJ) have completed a reduction of 0.6431% of their holdings through centralized bidding [1] Group 2 - Shareholders of Aerospace Software (688562.SH) plan to reduce their holdings by no more than 1.00% through centralized bidding [2] - Shareholders of Hongqiang Co., Ltd. (002809.SZ) have completed their reduction plans, with reductions of 1%, 0.132%, and 0.021% respectively [2] - Shareholders of Huachangda (300278.SZ) plan to reduce their holdings by no more than 0.703% within three months after 15 trading days through centralized bidding [2] Group 3 - Shareholders of Liancheng CNC (835368.BJ) plan to reduce their holdings by no more than 2% within three months after 15 trading days through centralized bidding and block trading [3] - Shareholders of Meidixi (688202.SH) intend to reduce their holdings by no more than 2.23% within three months after 15 trading days through centralized bidding or block trading [3] - Shareholders of Meixin Technology (301577.SZ) plan to reduce their holdings by no more than 2.5% through centralized bidding and block trading [3] Group 4 - Shareholders of Wanda Film (002739.SZ) have completed their reduction plan, with a total reduction of 63,353,361 shares, accounting for 3.00% of the total share capital [4] - Shareholders of Xinghua New Materials (301077.SZ) plan to reduce their holdings by no more than 3% within three months after three trading days through centralized bidding and block trading [4] - Shareholders of Yinbao Shanneng (002786.SZ) have completed their reduction plan, with a total reduction of 9,912,100 shares, accounting for 2.00% of the total share capital [4] Group 5 - Shareholders of Intercontinental Oil and Gas (600759.SH) have completed their reduction plan, with a total reduction of 124,499,600 shares, accounting for 3% of the total share capital [5]

深圳诺普信作物科学股份有限公司公告 证券代码：002215 证券简称：诺普信 公告编号：2025-019 深圳诺普信作物科学股份有限公司 关于公司董事、高级管理人员减持计划实施完成的公告 本公司及董事会全体成员保证公告内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 深圳诺普信作物科学股份有限公司（以下简称"公司"）于2025年1月15日 披露了《关于公司董事、高级管理人员减持股份的预披露公告》（公告编号： 2025-002），公司董事、总经理高焕森先生持有本公司股份3,724,000股（占目 前公司总股本的0.37%），拟计划自该公告披露之日起15个交易日后的三个月内 以集中竞价交易方式减持本公司股份不超过404,000股（不超过目前公司总股本 的0.04%）。公司董事会秘书、董事长办公室主任莫谋钧先生持有本公司股份 1,260,000股（占目前公司总股本的0.13%），拟计划自该公告披露之日起15个交 易日后的三个月内以集中竞价交易方式减持本公司股份不超过80,000股（不超过 目前公司总股本的0.01%）。 公司近日收到董事、总经理高焕森先生和董事会秘书、董事长办公室主任莫 谋钧先生出具的《 ...

诺普信（002215）公告，公司董事、总经理高焕森和董事会秘书、董事长办公室主任莫谋钧于2025年4 月28日通过集中竞价方式分别减持40.4万股和80000股，合计减持48.4万股，占公司总股本的0.05%。减 持后，高焕森持有332万股，占总股本的0.33%；莫谋钧持有118万股，占总股本的0.12%。此次减持符 合相关法律法规，不影响公司治理结构和持续经营。 ...

[Table_Title] 证券研究报告 / 公司点评报告 蓝莓持续兑现，业绩保持高增 事件： 公司发布 2024 年年报及 2025 年一季报：2024 年实现营收 52.9 亿元，同 比+28.4%，归母净利润 5.8 亿元，同比+148.1%；2025 年一季度实现营 收 21.0 亿元，同比+15.0%，归母净利润 6.3 亿元，同比+38.0%。 [Table_Summary] 点评： 蓝莓步入扩产节奏，利润实现大幅增长。公司 2024 年蓝莓产季在上半 年成功收官，下一产季于当年 Q4 拉开序幕，带动公司蓝莓业务持续高 增，产销量快速爬坡。2024 年公司生鲜消费类产品实现销售量 4.9 万吨， 同比+99.2%，同时生鲜消费业务实现收入 21.4 亿元，同比+251.3%。随 着新产季的深入，2025 年公司蓝莓业务预计保持稳步增长，一季度生鲜 消费类业务销售收入增加 1.6 亿，增长 16.94%，带动公司 Q1 实现归母 净利润同比高增。此外，公司在营销端的改革成果斐然，通过大力开展 渠道与品牌建设，不断加强与山姆、京东、OLE 等大型 KA 客户的合作， 持续强化"爱莓庄"、"迷迭蓝"等品 ...

Group 1: Financial Performance - In 2024, the company achieved a significant profit increase, reaching 580 million with an operating cash flow of 1.3 billion [1] - For Q1 2025, the profit was 627 million, contributing nearly 300 million in positive operating cash flow [1] - The overall expected blueberry harvest for the season is over 40,000 tons [1] Group 2: Market and Sales Strategy - The domestic blueberry market is expected to remain stable, with prices around 90,000 per ton before the Spring Festival, indicating a supply-demand imbalance [3] - The company focuses on two main brands: "Love Berry Farm" and "Misty Blue," while expanding sales through key accounts like JD.com and Hema [2] - The KA channel now accounts for over 30% of total shipments, with distributors making up nearly 50% [8] Group 3: Production and Yield - The yield per mu is projected to increase from 1.3 tons in the 2023/2024 season to over 1.4 tons in the 2024/2025 season due to improved agricultural techniques [4] - The large fruit rate (fruit diameter over 18mm) is estimated to be close to 70% for the upcoming season [5] - The company aims for an average yield of over 1.5 tons per mu in the 2025/2026 season [11] Group 4: Cost Management and Future Outlook - The company anticipates a slight increase in costs due to enhanced quality in harvesting and processing, but aims for further cost reductions in the future [9] - The company has established 14 large processing centers to support operations, which is expected to improve efficiency [9] - The overall strategy includes enhancing product quality and deepening customer relationships to drive growth in the pesticide business [12] Group 5: Land and Expansion Plans - Currently, the company has approximately 56,000 mu of land, with plans to invest in 35,000 to 40,000 mu for the 2025/2026 season [10] - The company faces challenges in acquiring quality land, which will influence its long-term land acquisition strategy [10]

据证券之星公开数据整理，近期诺普信(002215)发布2025年一季报。截至本报告期末，公司营业总收入 21.01亿元，同比上升15.01%，归母净利润6.27亿元，同比上升37.99%。按单季度数据看，第一季度营 业总收入21.01亿元，同比上升15.01%，第一季度归母净利润6.27亿元，同比上升37.99%。本报告期诺 普信盈利能力上升，毛利率同比增幅2.92%，净利率同比增幅24.72%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率47.11%，同比增2.92%，净利率29.83%，同比增 24.72%，销售费用、管理费用、财务费用总计3.09亿元，三费占营收比14.7%，同比减10.94%，每股净 资产4.44元，同比增6.58%，每股经营性现金流0.27元，同比减38.08%，每股收益0.64元，同比增39.66% | 项目 | 2024年一季报 | 2025年一季报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 18.27亿 | 21.01亿 | 15.01% | | 归母净利润(元) | 4.54亿 | 6.27 Z | 37.99% | ...

不过，截至法律意见书出具日，本次回购注销尚需提交公司股东大会审议批准。 回购注销原因及具体内容 根据《股票激励计划》规定，激励对象因个人绩效考核不合格、主动辞职等原因离职，其已满足解锁条 件的权益不受影响，但不再享受离职日以后的股权激励，对于因上述原因被取消或失效的限制性股票， 由公司回购注销。 此次12名激励对象因个人原因离职，已不符合激励条件，所以公司将回购注销其已获授但尚未解锁的37 万股限制性股票。公司将按3.88元/股加银行同期定期存款利息之和进行回购注销。本次回购注销完成 后，公司总股本将由1,005,191,310股调整为1,004,821,310股。 已履行相关程序，尚需股东大会审议 2023年12月4日，诺普信召开2023年第三次临时股东大会，审议通过相关议案，并授权董事会办理与本 次注销有关的事项。 2025年4月23日，公司召开第七届董事会第五次会议，审议通过回购注销议案，12名激励对象于2025年4 月15日前因个人原因离职，不符合激励条件，其已获授但尚未解锁的37万股限制性股票将由公司回购注 销。 同日，公司召开第七届监事会第四次会议，审议通过该议案，监事会认为回购注销程序符合规定， ...

独立董事 2024 年述职报告(李晓东） 深圳诺普信作物科学股份有限公司 独立董事 2024 年度述职报告 本人作为深圳诺普信作物科学股份有限公司（以下简称"公司"）第六届董 事会的独立董事，2024年度严格按照《公司法》、《上市公司独立董事管理办法》、 《深圳证券交易所上市公司自律监管指引第1号——主板上市公司规范运作》、 《公司章程》、《公司独立董事制度》等相关规定履行独立董事职责，尽职尽责， 忠实履行职务，积极出席相关会议，认真审议董事会各项议案，对公司相关事项 进行关注，切实维护了公司和股东的利益。现将2024年任职期内履行独立董事职 责情况汇报如下： 一、个人基本情况 报告期内，本人对独立性情况进行了自查，本人作为公司第六届董事会独立 董事任职符合《上市公司独立董事管理办法》第六条规定的独立性要求，不存在 影响独立性的情况。 二、出席董事会及股东大会的情况 2024年度，公司共召开8次董事会会议，在本人任职期间应出席4次董事会会 议, 4次会议均由本人亲自出席，在审议议案时，充分关注，具体出席会议情况 如下： | 独立董事 | 应出席董 | 现场出 | 以通讯方式 | 委托出 | 缺席 | 是否连续 ...