皇氏集团2024年报解读：乳业板块营收稳定增长 研发投入持续加大

Core Viewpoint - Huangshi Group has reported a revenue of 2.046 billion yuan for 2024, with a 4.74% year-on-year growth in the dairy segment and a 4.54 percentage point increase in gross margin, solidifying its position as a leader in the domestic water buffalo milk market [1][2] Group 1: Financial Performance - The company achieved an annual revenue of 2.046 billion yuan in 2024 [1] - The dairy segment's revenue grew by 4.74% year-on-year [1] - Gross margin improved by 4.54 percentage points compared to the previous year [1] Group 2: Strategic Initiatives - Huangshi Group introduced 10,000 high-yield water buffalo embryos from Pakistan, addressing a 60-year stagnation in domestic genetic resources [1] - The company has established modern farms in regions such as Guangxi and Hunan [1] - Huangshi Group is the only company globally with the qualification to export high-yield water buffalo embryos to China, creating a competitive advantage in the supply chain [1] Group 3: Research and Development - In 2024, the company increased its R&D investment by 26.8% to 7.3 million yuan [2] - The company employs a "basic research + applied innovation" dual-driven strategy to build a comprehensive innovation system covering the entire industry chain [2] - Huangshi Group is focusing on three key areas for technological breakthroughs, aiming to transform the niche market of water buffalo milk into mainstream demand [2]