晨光生物：棉籽业务坚持“对锁”经营策略

Group 1 - The core viewpoint of the article is that the company, Morning Light Bio (300138), is committed to a "lock-in" business strategy for its cottonseed operations, focusing on upstream raw material supply and downstream demand conditions [1] - The company will only procure raw materials and sign sales contracts when there is a reasonable price difference to secure a stable profit margin [1] - In the second quarter of 2025, due to changes in the international trade environment leading to significant fluctuations in commodity prices, the company was able to seize market opportunities, resulting in an increase in locked-in/realized profits compared to the first quarter [1] Group 2 - The company will continue to adhere to the "lock-in" strategy to ensure operational stability [1]