Scitop Bio(SZ:300858) Xin Lang Cai Jing·2025-10-31 00:04Core Insights - The company, Keta Bio, is a leading provider of probiotic products and services in China, established in 2003 and listed on the Shenzhen Stock Exchange in 2020 [1] - The company specializes in the research, production, and sales of food additives, edible probiotic products, and micro-ecological preparations for plants and animals [1] Financial Performance - For Q3 2025, Keta Bio reported revenue of 267 million yuan, ranking 23rd in the industry, significantly lower than the top competitors, Meihua Biological and Xinhacheng, with revenues of 18.215 billion yuan and 16.642 billion yuan respectively [2] - The company's net profit for the same period was 76.23 million yuan, ranking 18th in the industry, again trailing behind the leaders [2] - The main business segments include edible probiotic products (71.03% of revenue), micro-ecological preparations (16.96%), and food additives (11.14%) [2] Financial Ratios - Keta Bio's debt-to-asset ratio was 5.90% in Q3 2025, an increase from 4.65% year-on-year, which is significantly lower than the industry average of 28.46%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 52.04%, slightly down from 54.14% year-on-year, but still above the industry average of 28.77%, reflecting robust profitability [3] Executive Compensation - The chairman, Sun Tiansong, received a salary of 1.991 million yuan in 2024, an increase of 217,000 yuan from the previous year [4] - The general manager, Liu Xiaojun, had a salary of 3.3787 million yuan in 2024, a modest increase of 15,800 yuan [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 5.63% to 17,100, while the average number of shares held per shareholder decreased by 5.33% to 11,300 [5] - The top ten circulating shareholders include funds like Fu Guo Growth Navigation Mixed Fund, which held 6.6083 million shares [5] Market Outlook - The probiotic industry is experiencing high demand, with Keta Bio's new production facility in Inner Mongolia expected to generate 30 to 40 million yuan in annual output once fully operational [5] - Projections for net profit from 2025 to 2027 are 1.03 billion yuan, 1.24 billion yuan, and 1.57 billion yuan, with corresponding growth rates of 9%, 20%, and 27% [5] - The market for probiotic raw powder is expected to reach 10.6 billion yuan by 2027, driven by increased consumer spending and domestic strain development [6]