Adisseo(SH:600299) Chang Jiang Shang Bao·2025-04-30 17:21Core Viewpoint - Andy Su, a leading global animal nutrition company, reported strong performance in Q1 2025, with significant revenue and profit growth driven by its dual pillar strategy focusing on methionine and specialty products [1][3]. Financial Performance - In Q1 2025, the company achieved revenue of 4.3 billion yuan, a year-on-year increase of 23% [1]. - Gross profit rose by 14% to 1.27 billion yuan, while net profit surged by 67.9% to 465 million yuan [1][3]. - The functional products segment generated revenue of 3.32 billion yuan, reflecting a 29% year-on-year growth, with methionine sales volume increasing by 24% [1][4]. Business Strategy - The company is implementing a "dual pillar" strategy to solidify its leadership in the methionine market while accelerating the development of specialty products [1][5]. - To meet global methionine demand, Andy Su plans to raise up to 3 billion yuan through a private placement to fund four core projects and enhance working capital [5][6]. Production Capacity and R&D Investment - The company is expanding its production capacity, with a new solid methionine project in Fujian province expected to produce 150,000 tons annually, set to commence operations in 2027 [5][6]. - R&D expenditures have been steadily increasing, totaling 1.858 billion yuan over the past five years, with a focus on green production, biotechnology, and digital services [2][6].