RINGPU(SZ:300119) Sou Hu Cai Jing·2025-07-16 14:36Core Viewpoint - Reap Bio announced a profit forecast for the first half of 2025, expecting a non-GAAP net profit of 180 million to 209 million yuan, representing a year-on-year growth of 30% to 50%, and a net profit attributable to shareholders of 240 million to 276 million yuan, indicating a growth of 50% to 70% [1][2]. Financial Performance - The net profit attributable to shareholders is projected to be between 244.16 million yuan and 276.72 million yuan, a growth of 50% to 70% compared to 162.78 million yuan in the same period last year [2]. - The non-GAAP net profit is expected to be between 181.75 million yuan and 209.72 million yuan, reflecting a growth of 30% to 50% from 139.81 million yuan in the previous year [2]. Business Growth Drivers - The company attributes its performance increase to four main factors: strategic partnerships with large breeding enterprises, focus on high-potential sectors like pet healthcare and overseas markets, operational efficiency improvements, and a robust management system [3][4]. - The pet healthcare segment is becoming a key growth driver, with significant revenue increases in new business areas [4][6]. Segment Performance - The pet supply chain business grew by 37.66% year-on-year, reaching 633 million yuan, accounting for 20.63% of total revenue [5]. - The pet biological products segment saw an impressive growth of 849.09%, achieving revenue of 37.44 million yuan, marking it as a standout performer [5]. Market Position and Strategy - Reap Bio has expanded its market presence by acquiring the Zhongrui supply chain platform, which now covers 7,000 pet hospitals and 3,400 pet stores across China [6]. - The company aims to enhance its product offerings and market penetration in the pet healthcare sector, focusing on building a comprehensive ecosystem that integrates research, validation, distribution, and service [9]. Future Outlook - The company plans to continue expanding its pet supply chain market coverage and revenue scale through capital operations and deepening product penetration in pet hospitals and stores [9]. - Despite the growth, the company acknowledges challenges such as increasing competition in the veterinary medicine market and the need for continuous innovation in product development [10].