Zheng Quan Zhi Xing·2025-04-30 17:40Core Viewpoint - The company, Qianyin Gaoke, reported a steady growth in revenue and net profit for 2024 and Q1 2025, driven by increased sales in its seed business, particularly in rice and corn [2][3][4]. Financial Performance - In 2024, the company achieved a revenue of 4.709 billion yuan, a year-on-year increase of 14.77%, with a net profit of 114 million yuan [2]. - For Q1 2025, the company reported a revenue of 835 million yuan, up 24.13% year-on-year, with a net profit of 2.197 million yuan [2]. - The company aims to reach a revenue target of 5 billion yuan and a net profit of 300 million yuan for 2025 [2]. Seed Business Overview - The rice seed sales revenue reached 1.858 billion yuan in 2024, a growth of 5.67%, with a total sales volume of 216 million kilograms, up nearly 7% [3]. - The corn seed segment generated a revenue of 589 million yuan in 2024, reflecting a 20.43% increase, with a gross margin of 33.15% [4]. Innovation and Patents - The company received a national patent for a method of creating broadly resistant transgenic corn, marking a significant advancement in disease-resistant crop development [5]. - In 2024, 59 new rice varieties and 13 new corn varieties were approved, enhancing the company's competitive edge in the market [3][4]. International Market Development - In 2024, the company exported 19.3735 million kilograms of seeds, a 74.80% increase year-on-year, generating an overseas revenue of 492 million yuan, up 72.39% [6][7]. - The company is actively pursuing international breeding collaborations to expand its global market presence [7]. Audit and Financial Health - The company maintains that its accounts receivable and inventory valuations are accurate, and it plans to take measures to recover outstanding receivables over the next two years [8]. - The Q1 2025 report indicated a debt ratio of 62.94%, with a gross margin of 13.48% [8].