CCGB(SZ:300138) Xin Lang Cai Jing·2025-10-14 10:37Core Viewpoint - The company expects significant growth in net profit for the first three quarters of 2025, driven by improvements in its cottonseed and plant extraction businesses, with projected net profit growth of 344.05%-401.55% year-on-year [1] Group 1: Financial Performance - The company forecasts a net profit attributable to shareholders of 278-314 million yuan for January to September 2025, with a non-recurring net profit of 218-254 million yuan, indicating a year-on-year increase of 1398.00%-1645.38% [1] - For Q3 2025, the expected net profit is between 63-99 million yuan, with a non-recurring net profit of 34-70 million yuan, showing significant improvement compared to Q3 2024, where the net profit was -37 million yuan and the non-recurring net profit was -65 million yuan [1] Group 2: Business Operations - The company has implemented a strict operational model to maintain stable operations, benefiting from the overall recovery in cottonseed product prices [1] - The plant extraction business has seen a recovery in revenue and gross profit due to the upward trend in several key products, contributing to the overall improvement in profitability [1] Group 3: Market Outlook - The company is positioned to benefit from the upcoming ban on synthetic food colorants by the FDA, which is expected to boost demand for natural colorants and enhance industry prosperity [2] - The company’s strategic layout and product reserves are anticipated to yield long-term competitive advantages, with a gradual release of benefits in the coming years [2] Group 4: Profit Forecast and Investment Rating - The company is projected to achieve net profits of 376 million, 501 million, and 612 million yuan for 2025-2027, representing year-on-year growth of 299%, 33%, and 22% respectively, with corresponding PE ratios of 17X, 13X, and 10X [2] - The company maintains a "strong buy" rating, supported by its leading position in the plant extraction industry and its ability to replicate successful multi-product development models efficiently [2]