研报掘金丨华鑫证券：维持邦基科技“买入”评级，饲料主业快增逐季兑现

Core Insights - The report from Huaxin Securities indicates that Bangji Technology's feed business is experiencing significant growth, and the recent acquisition marks a substantial step towards transforming the company from a single feed supplier to a comprehensive service provider in the aquaculture industry [1] Group 1: Business Performance - The feed business is showing a trend of both volume and profit increase, establishing a stable foundation and cash flow for the company [1] - The integration and development of the aquaculture business will open new growth opportunities and create synergies with the feed business [1] Group 2: Financial Projections - Based on cautious considerations, the report does not factor in the acquisition's impact on the company's performance and equity [1] - Revenue projections for the years 2025 to 2027 are estimated at 4.328 billion, 5.417 billion, and 6.613 billion yuan respectively, with EPS forecasts of 0.80, 1.42, and 2.01 yuan [1] Group 3: Investment Rating - The positive outlook on the feed business and the promising prospects of the aquaculture business integration support a "buy" rating for the company [1]