CCGB(SZ:300138) Xin Lang Cai Jing·2025-10-25 08:36Core Insights - The company reported a total revenue of 5.047 billion yuan for the first three quarters of 2025, a year-on-year decrease of 3.4%, while the net profit attributable to shareholders reached 304 million yuan, a significant increase of 385.3% [1] - The extraction business continues to show steady growth, with revenue of 2.499 billion yuan for the first three quarters, up 7.4% year-on-year [1][2] - The cottonseed business experienced a revenue decline of 10.54% year-on-year, totaling 2.353 billion yuan, attributed to sales rhythm and price adjustments [3] Revenue Breakdown - For the first three quarters of 2025, the extraction business generated 2.499 billion yuan, while the cottonseed business generated 2.353 billion yuan [1][3] - In Q3 2025, the extraction business revenue was 766 million yuan, a 2.8% increase year-on-year, while the cottonseed business revenue was 588 million yuan, down 34.6% [1][2] Profitability Analysis - The gross margin for the extraction business improved to 20.86%, an increase of 4.91 percentage points year-on-year, while the cottonseed business gross margin rose to 7.20%, up 8.05 percentage points [3] - The company achieved a net profit margin of 6.4% in Q3 2025, an increase of 8.54 percentage points year-on-year, indicating a significant recovery in profitability [3] Market Trends and Future Outlook - The company is well-positioned to benefit from the upcoming ban on synthetic food colorants by the FDA, which is expected to drive demand for natural colorants and improve industry conditions [4] - The company anticipates a gradual recovery in product prices and profitability, supported by its strong industrial production capabilities and a strategic focus on health products and herbal extracts [4] - Forecasts suggest that the company could achieve net profits of 376 million yuan, 501 million yuan, and 612 million yuan for the years 2025 to 2027, representing growth rates of 299%, 33%, and 22% respectively [4]