星湖科技业绩会：尼龙56试产进度正有序推进中

Core Business Strategy - The company will firmly implement the "231" industrial development strategy, focusing on "animal nutrition, food seasoning, and value chain extension" as its two core businesses [1] - The company aims to strengthen its animal nutrition, food additives, and seasoning sectors while promoting breakthroughs in three innovative fields: biomedicine, human nutrition and health, and plant nutrition [1] Financial Performance - In 2024, the company achieved operating revenue of 17.334 billion yuan and a net profit attributable to shareholders of 943 million yuan, representing a year-on-year growth of 39.12% [1] - In the first quarter of 2025, the company reported operating revenue of 4.039 billion yuan and a net profit attributable to shareholders of 474 million yuan, showing a year-on-year increase of 88.55% [1] Production Capacity and Market Position - The company ranks among the top producers globally in core products such as lysine, threonine, monosodium glutamate, and nucleotides, with both production capacity and technology levels leading the industry [1] - The company is investing in a 600,000-ton corn deep processing and cogeneration project in Xinjiang, which is currently under construction and will primarily produce small-volume amino acid products [2] Project Investments - The company plans to invest no more than 3.3 billion yuan in a 450,000-ton amino acid and supporting engineering project, with funding sourced from its own capital and bank loans, each accounting for approximately 50% [2] - The construction period for the amino acid project is expected to be 22 months [2] Market Conditions - The company acknowledges that product sales prices are influenced by raw material costs, market supply and demand, and industry competition, leading to some volatility [2] - The company is focused on enhancing product competitiveness through cost reduction and efficiency improvement, leveraging its large-scale production capabilities [2]