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研报掘金丨华安证券:维持百龙创园“增持”评级,阿洛酮糖准入落地
Ge Long Hui A P P·2025-07-30 05:55

Core Viewpoint - Bailong Chuangyuan's performance continues to grow both year-on-year and quarter-on-quarter in Q2 2025, with the successful market entry of allulose [1] Group 1: Performance and Growth - Bailong Chuangyuan has achieved sustained growth in Q2 2025, driven by the release of scale effects from project production and cost optimization through process improvements [1] - The company has a current domestic production capacity of 15,000 tons and holds 14 core patents, including 6 international patents, indicating significant technological barriers and advantages in large-scale production [1] Group 2: Market Position and Strategy - With the release of domestic demand, the company is expected to quickly capture incremental market share through cost control and technological leadership [1] - The optimization of the cost structure at the Thailand factory enhances competitiveness in the European, American, and Southeast Asian markets [1] - The establishment of a dual production capacity hub in Shandong and Thailand will further consolidate the company's share in the global health food raw materials market through cost optimization and a regional supply network [1]