AHB(SH:688639) Xin Lang Cai Jing·2025-05-29 12:27Core Insights - The decline in valine prices in 2024 has led to a decrease in the company's profits [1] - The company is building an open R&D system and continuously upgrading its synthetic biology platform [1] Financial Performance - The company maintains a "buy" rating, adjusting the EPS for 2025-2027 to 1.12, 1.58, and 2.09 yuan respectively, down from previous estimates of 3.40 and 4.59 yuan [2] - In 2024, the company's net profit attributable to shareholders is expected to decrease by 57.80% [2] - The company's operating revenue for 2024 is projected to be 2.178 billion yuan, a year-on-year increase of 12.37% [2] - The net profit attributable to shareholders for 2024 is estimated at 190 million yuan, a decrease of 57.80% year-on-year [2] - The first quarter of 2025 is expected to show an operating revenue of 687 million yuan, a year-on-year increase of 37.20% [2] Product Development and R&D - The company is enhancing its product matrix by investing in new products such as 1,3-propanediol, succinic acid, tryptophan, and arginine [2] - The company plans to increase the implementation of the succinic acid project and adjust some capacity for L-valine and myo-inositol production [3] - The establishment of an AI digital laboratory aims to explore the application of AI technology in synthetic biology and company management [3] - The company is investing 320 million yuan to build an "AI Precision Fermentation and Protein Engineering Shared Demonstration Project" [3] - A "Biobased Polyester Textile Industry Alliance" has been established to accelerate domestic substitution of raw materials and promote innovation in the biobased polyester industry [3]