RINGPU(SZ:300119) Xin Lang Cai Jing·2025-08-29 00:43Core Insights - The company reported a revenue of 1.708 billion yuan for the first half of 2025, representing a year-on-year growth of 20.53%, and a net profit attributable to shareholders of 257 million yuan, up 57.59% year-on-year [1] - The strong performance is attributed to the synergistic growth across various business segments, particularly in the economic animal health sector, which saw significant revenue increases [1][2] Economic Animal Health Segment - The economic animal health segment showed robust growth, with revenue from poultry biological products reaching 611 million yuan, a year-on-year increase of 24.71%, and livestock biological products revenue soaring by 110.55% to 136 million yuan, driven by the integration of foot-and-mouth disease vaccine business and market expansion [2] - The company has deepened strategic partnerships with leading breeding groups, enhancing cost efficiency through a comprehensive service model [2] - The company achieved a significant milestone by obtaining the world's first clinical approval for an mRNA vaccine for food animals, showcasing its leadership in cutting-edge technology [2] Pet Segment Development - The company is committed to building a leading domestic brand in the pet sector, focusing on a "product + supply chain + medical" strategy to drive growth [3] - Revenue from the pet supply chain and products reached 415 million yuan, reflecting a year-on-year growth of 17.94%, with a significant increase in the shipment volume of self-developed products [3] - The company plans to launch new products, including cat interferon and probiotics, to enhance its comprehensive product matrix for prevention, treatment, and nutritional health [3] Profit Forecast and Investment Recommendation - The company projects earnings per share (EPS) of 0.91, 1.08, and 1.16 yuan for 2025 to 2027, corresponding to dynamic price-to-earnings ratios of 25, 21, and 20 times, respectively, maintaining a "buy" rating [3]