Ligao Foods (300973)

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山姆新品亮眼,25Q1利润超预期
HTSC· 2025-04-29 04:10
Investment Rating - The report maintains a "Buy" rating for the company with a target price of 48.79 RMB [7][8]. Core Insights - The company's revenue and net profit for 2024 are projected to be 384 million and 27 million RMB, respectively, reflecting year-on-year growth of 9.6% and 266.9% [1]. - In Q1 2025, the company reported revenue and net profit of 105 million and 9 million RMB, respectively, showing year-on-year growth of 14.1% and 15.1%, exceeding previous expectations [1]. - The company's effective cost control measures have successfully mitigated pressure on gross margins, contributing to improved profitability [1][3]. Revenue and Profitability - The company's revenue from frozen baked goods in Q1 2025 grew approximately 12% year-on-year, while cream products continued to show strong growth [2]. - The gross margin for 2024 increased by 0.1 percentage points to 31.5%, with a notable reduction in share-based payment expenses and improved operational efficiency [3]. - The net profit margin for 2024 increased by 4.9 percentage points to 7.0%, indicating a significant enhancement in profitability [3]. Financial Projections - The report forecasts revenues of 4.461 billion RMB and net profits of 330 million RMB for 2025, with EPS projected at 1.95 RMB [4][6]. - The company is expected to maintain a steady growth trajectory, with revenue growth rates projected at 16.3% for 2025 and 12.9% for 2026 [6]. - The report introduces an EPS forecast for 2027 at 2.60 RMB, reflecting continued growth potential [4]. Market Position and Strategy - The company has successfully launched new products that have contributed positively to revenue growth, particularly in the Sam's Club channel [1][2]. - The sales strategy and product development are aligned with production lines, ensuring more precise and effective allocation of expenses [1]. - The company is expected to continue its operational recovery, supported by strong market demand and effective management practices [4].
191只股中线走稳 站上半年线
Zheng Quan Shi Bao Wang· 2025-04-29 03:18
4月29日突破半年线个股乖离率排名 (文章来源:证券时报网) | 证券代 | 证券简 | 今日涨跌幅 | 今日换手率 | 半年线 | 最新价 | 乖离率 | | --- | --- | --- | --- | --- | --- | --- | | 码 | 称 | (%) | (%) | (元) | (元) | (%) | | 300548 | 博创科 | 20.01 | 10.69 | 38.87 | 44.50 | 14.48 | | | 技 | | | | | | | 000698 | 沈阳化 | 9.97 | 3.08 | 3.43 | 3.75 | 9.43 | | | 工 | | | | | | | 002376 | 新北洋 | 9.94 | 8.06 | 6.79 | 7.41 | 9.15 | | 002229 | 鸿博股 份 | 9.98 | 12.42 | 13.35 | 14.44 | 8.17 | | 300973 | 立高食 | 16.59 | 10.31 | 40.12 | 43.35 | 8.04 | | | 品 | | | | | | | 300573 | 兴齐眼 | 13.8 ...
立高食品(300973):2024年报及2025年一季报点评:效率进阶,再超预期
Huachuang Securities· 2025-04-29 03:05
Investment Rating - The report maintains a "Strong Buy" rating for the company, indicating an expectation to outperform the benchmark index by over 20% in the next six months [1][21]. Core Insights - The company achieved a total revenue of 3.835 billion yuan in 2024, representing a year-on-year increase of 9.6%, and a net profit attributable to shareholders of 268 million yuan, up 266.9% year-on-year [1][5]. - In Q4 2024, the company reported revenue of 1.118 billion yuan, a 22.0% increase year-on-year, and net profit of 65 million yuan, marking a return to profitability [1][5]. - For Q1 2025, revenue reached 1.046 billion yuan, up 14.1% year-on-year, with a net profit of 88 million yuan, reflecting a 15.1% increase [1][5]. Financial Performance Summary - The company's revenue growth was driven by significant increases in the cream segment, which saw a 61.8% year-on-year increase, while other segments like frozen baking and sauces experienced declines [1][5]. - The revenue distribution across channels in 2024 was 57% from circulation, 25% from supermarkets, and 18% from catering, with circulation and catering channels showing growth of approximately 15% and 20% respectively [1][5]. - The gross profit margin for 2024 was 31.5%, a slight increase from the previous year, while the net profit margin improved to 6.9%, up 4.8 percentage points year-on-year [1][5]. Future Outlook - The company is expected to maintain double-digit growth in 2025, driven by clear growth drivers such as cream products, Sam's Club, and catering [1][5]. - The report projects earnings per share (EPS) for 2025 to be 1.97 yuan, with further increases to 2.26 yuan in 2026 and 2.59 yuan in 2027, reflecting a strong growth trajectory [1][5]. - The target price for the company's stock is set at 49.5 yuan, corresponding to a price-to-earnings (PE) ratio of 25 times for 2025 [1][5].
立高食品(300973) - 2025年4月28日投资者关系活动记录表
2025-04-28 14:38
Group 1: 2024 Annual Report Overview - In 2024, the company achieved revenue of CNY 3.835 billion, a year-on-year increase of 9.61% [2] - Revenue from frozen baked goods accounted for approximately 56%, a decrease of about 3% due to adjustments in core supermarket products [2] - Revenue from baking ingredients increased by approximately 33%, driven by strong sales of UHT cream products, which generated over CNY 500 million in revenue, nearly a 200% year-on-year growth [2][3] Group 2: Profitability and Cost Management - The net profit attributable to shareholders was CNY 268 million, a year-on-year increase of 266.94% [4] - After excluding non-cash stock option expenses, the adjusted net profit was CNY 270 million, reflecting a growth of 45.26% [4] - The company successfully reduced operating sales, management, and R&D expense ratios, indicating effective cost control measures [4] Group 3: Q1 2025 Performance - In Q1 2025, the company reported sales revenue of CNY 1.046 billion, a year-on-year increase of 14.22% [5] - The net profit attributable to shareholders was CNY 88.32 million, up 15% year-on-year [5] - The gross profit margin for Q1 was 30.0%, a decrease of approximately 2.5% due to changes in channel and product structure, as well as rising raw material prices [6] Group 4: Channel Performance - Revenue from distribution channels accounted for about 57%, with a year-on-year growth of approximately 15% [3] - Supermarket channel revenue was close to 25%, experiencing a slight decline due to product adjustments [3] - Revenue from innovative channels like catering and new retail accounted for about 18%, with a year-on-year growth of approximately 20% [3] Group 5: Future Outlook and Strategic Initiatives - The company plans to expand its UHT cream product line and enhance its product matrix [5][6] - Management is optimistic about maintaining cost control and improving efficiency in 2025 [4][9] - The company aims to strengthen its supply chain and explore domestic sourcing for raw materials to mitigate cost pressures [15]
立高食品(300973) - 2024年度董事会工作报告
2025-04-28 08:32
一、2024 年度公司经营情况回顾 立高食品股份有限公司 2024 年度董事会工作报告 2024 年,立高食品股份有限公司(以下简称"公司""立高食品")董事 会全体成员根据《中华人民共和国公司法》(以下简称《公司法》)、《中华人 民共和国证券法》(以下简称《证券法》)等法律法规及《公司章程》《董事会 议事规则》的相关规定,本着恪尽职守、勤勉尽责的工作态度,切实履行股东大 会赋予的董事会职责,认真贯彻执行股东大会各项决议,勤勉尽责地开展各项工 作,进一步提升公司规范运作能力,切实维护公司及股东权益。现将 2024 年度 董事会工作情况报告如下: 公司坚持以市场需求为导向,将创新作为公司发展的核心驱动力,通过丰富 的产品矩阵及产品竞争力优势,对烘焙门店、线下商超便利店、餐饮渠道、茶饮 咖啡店、酒店自助餐和线上 O2O 等多元化渠道的覆盖力度提高。报告期内,公 司实现了营业收入 38.35 亿元,同比增长 9.61%。 2024 年度,公司归属于上市公司股东的净利润 2.68 亿元,同比增长 266.94%, 扣除非经常性损益后的净利润为 2.54 亿元,同比增长 108.22%,剔除不涉及现金 流出的股权激励对 ...
立高食品(300973) - 关于续聘2025年度审计机构的公告
2025-04-28 08:32
| 证券代码:300973 | 证券简称:立高食品 | 公告编号:2025-025 | | --- | --- | --- | | 债券代码:123179 | 债券简称:立高转债 | | 立高食品股份有限公司 关于续聘 2025 年度审计机构的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有虚假记载、 误导性陈述或重大遗漏。 特别提示: 本次续聘会计师事务所符合财政部、国务院国资委、证监会印发的《国有企业、上 市公司选聘会计师事务所管理办法》(财会〔2023〕4 号)的规定。 立高食品股份有限公司(以下简称"公司"或"立高食品")于 2025 年 4 月 28 日召 开第三届董事会第十四次会议、第三届监事会第十次会议,审议通过了《关于续聘 2025 年度审计机构的议案》,同意续聘中审众环会计师事务所(特殊普通合伙)(以下简称"中 审众环")为公司 2025 年度财务报表和内部控制审计机构,聘期一年,本议案已经第三 届董事会审计委员会第九次会议审议通过,尚需提交公司2024年年度股东大会审议通过, 现将相关事项公告如下: 一、拟续聘会计师事务所的情况说明 中审众环符合《中华人民共和国证券法》 ...
立高食品(300973) - 关于举行2024年度网上业绩说明会及问题征集的公告
2025-04-28 08:32
立高食品股份有限公司(以下简称"公司")2024 年年度报告全文及其摘要于 2025 年 4 月 29 日刊登于巨潮资讯网(www.cninfo.com.cn)。为了更好地与广大投资者进行交 流,让投资者进一步了解公司的生产经营情况,公司定于 2025 年 5 月 15 日(星期四) 下午 15:00 至 17:00 在全景网举行 2024 年度业绩说明会。本次网上业绩说明会将采用网 络远程的方式举行,投资者可登录全景网"投资者关系互动平台"(https://ir.p5w.net)参 与互动交流。 出席本次说明会的人员有:公司董事长、总经理彭裕辉先生,副董事长赵松涛先生, 董事、副总经理、董事会秘书、财务总监王世佳先生,独立董事陈莹女士,独立董事梁 晨先生,保荐代表人翁嘉辉先生。 为提升业绩说明会的交流效果,公司特向投资者公开征集问题,广泛听取投资者的 意见和建议,欢迎投资者在 2025 年 5 月 13 日(星期二)17:00 前将有关问题发送至公司 董事会办公室邮箱 dongmiban@ligaofoods.com,或者扫描下方二维码进入全景网问题征 集专题页面。公司将在 2024 年度业绩说明会上,对投 ...
立高食品(300973) - 对2024年度会计师事务所履职情况评估报告
2025-04-28 08:32
立高食品股份有限公司 对 2024 年度会计师事务所履职情况评估报告 一、2024 年年审会计师事务所基本情况 (一)会计师事务所基本情况 1、基本信息 (1)机构名称:中审众环会计师事务所(特殊普通合伙)(以下简称"中审 众环") (2)成立日期:中审众环始创于 1987 年,是全国首批取得国家批准具有从 事证券、期货相关业务资格及金融业务审计资格的大型会计师事务所之一。2013 年 11 月,按照国家财政部等有关要求转制为特殊普通合伙制。 (3)组织形式:特殊普通合伙企业 (4)注册地址:湖北省武汉市武昌区水果湖街道中北路 166 号长江产业大 厦 17-18 楼 (5)首席合伙人:石文先 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司治理 准则》《国有企业、上市公司选聘会计师事务所管理办法》和立高食品股份有限 公司(以下简称"公司")的《公司章程》《董事会审计委员会工作细则》等规 定和要求,现将公司对 2024 年度会计师事务所履职评估情况汇报如下: (6)截至 2024 年 12 月 31 日,中审众环合伙人 216 人、注册会计师 1,304 人、签署过证券服务业务审计报告的注册会计 ...
立高食品(300973) - 董事会审计委员会对2024年度会计师事务所履行监督职责情况的报告
2025-04-28 08:32
根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司治 理准则》《国有企业、上市公司选聘会计师事务所管理办法》和立高食品股份 有限公司(以下简称"公司")的《公司章程》《董事会审计委员会工作细则》 等规定和要求,董事会审计委员会本着勤勉尽责的原则,恪尽职守,认真履职。 现将董事会审计委员会对 2024 年度会计师事务所履行监督职责的情况汇报如下: 一、2024 年年审会计师事务所基本情况 (一)会计师事务所基本情况 立高食品股份有限公司 董事会审计委员会对 2024 年度会计师事务所履行监督职责情 况的报告 1、基本信息 (1)机构名称:中审众环会计师事务所(特殊普通合伙)(以下简称"中 审众环") (2)成立日期:中审众环始创于 1987 年,是全国首批取得国家批准具有 从事证券、期货相关业务资格及金融业务审计资格的大型会计师事务所之一。 2013 年 11 月,按照国家财政部等有关要求转制为特殊普通合伙制。 (3)组织形式:特殊普通合伙企业 (4)注册地址:湖北省武汉市武昌区水果湖街道中北路 166 号长江产业大 厦 17-18 楼 (5)首席合伙人:石文先 (6)截至 2024 年 12 月 ...
立高食品(300973) - 2024年度财务决算报告
2025-04-28 08:32
立高食品股份有限公司 2024 年度财务决算报告 一、2024 年度财务报表审计情况 立高食品股份有限公司(以下简称"公司")2024 年 12 月 31 日资产负债表,2024 年度利润表、现金流量表、股东权益变动表以及财务报表附注已经中审众环会计师事务 所(特殊普通合伙)审计,并出具标准无保留意见的审计报告,公司的财务报表在所有重 大方面公允的反映了公司 2024 年 12 月 31 日的财务状况以及 2024 年度的经营成果和现 金流量。 (二)股东权益情况 | 项目 | 年 2024 | 年 2023 | 本年比上年增减 | 年 2022 | | --- | --- | --- | --- | --- | | 营业收入(元) | 3,835,378,953.26 | 3,499,096,969.49 | 9.61% | 2,910,588,966.94 | | 归属于上市公司股东 | 267,967,762.81 | 73,027,000.54 | 266.94% | 143,770,987.20 | | 的净利润(元) | | | | | | 归属于上市公司股东 的扣除非经常性损益 | 253,71 ...