BLB(SZ:002286) Xin Lang Zheng Quan·2025-04-16 10:33Core Viewpoint - The company has conducted an impairment test on assets showing signs of impairment, resulting in a total impairment provision of 7.65 million yuan, which will reduce the net profit attributable to shareholders by 5.84 million yuan for the year 2024 [1][2]. Financial Performance - Despite the impairment provision, the company expects a significant increase in overall operating performance for 2024, with net profit attributable to shareholders projected between 107.94 million yuan and 124.13 million yuan, representing a growth of 100%-130% compared to 53.97 million yuan in 2023 [2]. - The net profit after excluding non-recurring gains and losses is expected to be between 122.94 million yuan and 139.13 million yuan, reflecting a year-on-year increase of 251.82%-298.16% [2]. - The basic earnings per share are anticipated to be between 0.2919 yuan and 0.3357 yuan, compared to 0.15 yuan in the previous year [2]. Cost Management - The core drivers of performance growth are attributed to cost control and high-value-added products. The company has achieved reductions in procurement and production costs through supply chain optimization and improvements in production processes [2]. - Key raw material prices, including corn and corn starch, have decreased compared to the same period in 2023, contributing to significant cost savings [2]. Product Development - The company has successfully launched differentiated high-value products such as glucose syrup, high-end probiotics, dietary fibers, and sugar-free oligosaccharides, which have seen increased market demand and sales [3]. - The market for erythritol is recovering, and the company is leveraging opportunities from EU anti-dumping policies to expand its market share in Europe, enhancing its international competitiveness [3]. Marketing and Innovation - The company has adapted its marketing strategies to cater to the health consumption needs of the aging population, introducing customized products and solutions across various sectors, including food, dairy, and health products [3]. - Efforts to improve marketing efficiency and profitability include incentivizing high-margin products and optimizing resource allocation for high-value product development [3]. Research and Development - The company continues to enhance its product processes and is investing in new technologies such as synthetic biology and precision fermentation to develop innovative products [3]. - The focus on emerging fields like sugar-free dietary fibers, human milk oligosaccharides (HMO), DHA algae oil, and lactulose is expected to accelerate the company's internationalization and lay a foundation for future growth [3].