CCGB(SZ:300138) Quan Jing Wang·2025-08-28 00:46Core Viewpoint - The leading company in the plant extraction industry, Chenguang Biotech (300138.SZ), reported strong mid-year results for 2025, driven by innovation, a well-structured product lineup, and a broad market outlook for the plant industry [1] Financial Performance - For the first half of 2025, the company achieved operating revenue of 3.658 billion yuan, a year-on-year increase of 4.77% [1] - Net profit reached 215 million yuan, up 115.33% year-on-year, while the net profit excluding non-recurring items was 184 million yuan, a significant increase of 130.48% [1] - The net cash flow from operating activities grew by 77.11% to 1.830 billion yuan [1] Product Performance - The revenue from plant extraction products, including natural pigments, spices, and nutritional and medicinal products, increased by 9.47% to 1.733 billion yuan, with a gross profit margin improvement of 3.43% [1] - Sales of chili red pigment surged by 43% to 6,367 tons, while chili extract sales rose by 81% to 1,536 tons [1] - The sales of lutein remained stable, with over 210 million grams sold in the feed-grade category, and food-grade lutein sales increased by approximately 22% [2] Market Expansion - The spice division saw a 23% increase in sales of core products like Sichuan pepper extract, expanding market share despite challenges in the domestic catering industry [2] - The company actively promoted stevia glycosides, generating over 160 million yuan in revenue, and received approval for sodium chlorogenic acid as a new feed additive [1][2] R&D Investment - Chenguang Biotech significantly increased its R&D investment to 112 million yuan, a year-on-year growth of 134.55% [3] - Key projects included improvements in chili red pigment production, comprehensive utilization of sweet leaf and marigold, and the development of application-based products [3] Competitive Position - The company is positioned among the top tier in the global plant extraction industry, competing with international leaders like Frutarom and Kalsec [3] - Major products such as chili red, chili extract, and lutein rank among the world's top products, with other products like stevia glycosides and rosemary extract also showing rapid growth [3] Future Strategy - The company aims to leverage its technological R&D advantages and strong industrial production capabilities to develop ten world-leading products [4]