BLB(SZ:002286) Xi Niu Cai Jing·2025-04-30 05:59Group 1 - The core viewpoint of the articles highlights that Baolingbao Biotech Co., Ltd. reported a revenue of 2.402 billion yuan in 2024, a year-on-year decline of 4.84%, while net profit surged by 105.97% to 111 million yuan, and non-recurring net profit increased by 254.56% to 124 million yuan [2] - The significant profit growth is attributed to the increase in sales of high-value-added products and effective cost control, with core businesses such as prebiotics, dietary fiber, and sugar-reducing sweeteners experiencing revenue growth of 16.02%, 14.52%, and 29.73% respectively [2] - Sales revenue of erythritol saw a remarkable increase of 52.58%, primarily due to the implementation of the EU anti-dumping policy, allowing Baolingbao to capture the European market with a minimum tax rate of 34.4% [2] Group 2 - Research and development innovation is another highlight for Baolingbao, with R&D expenditure rising to 4.08% of revenue and the R&D team expanding to 154 members, with a significant increase in the proportion of highly educated talent [3] - In March 2025, Baolingbao won the iSEE Global Innovation Award for its "high-purity breast milk oligosaccharide Shumuzi" technology, reinforcing its technological leadership in the functional sugar sector [3] - However, the company faces challenges such as fluctuations in raw material prices and intensified industry competition, particularly with a 31.98% year-on-year decline in revenue from the feed and by-products business, which has negatively impacted overall income [3] - Looking ahead, Baolingbao plans to intensify its expansion efforts in the European and American markets and advance its functional sugar alcohol project in the United States to enhance global competitiveness [3]