HZSY(SH:600191) Xin Lang Cai Jing·2025-12-28 12:31Core Insights - Zhongyu Food Holdings is enhancing Huazi Industrial through comprehensive empowerment and upgrades, focusing on improving operational efficiency and profitability in existing businesses like gluten powder and alcohol [1][3] - The integration of both companies' assets aims to optimize product structure and reduce raw material costs, leveraging Zhongyu's procurement advantages in the wheat sector [1][2] Business Strategy - Huazi Industrial is undergoing a strategic transformation through two rounds of equity optimization, with Zhongyu Technology indirectly taking control, leading to a more efficient management structure [2] - Zhongyu's revenue and net profit for 2024 are projected to be 13.083 billion and 1.003 billion respectively, with a return on equity (ROE) of 17.60%, significantly outperforming typical agricultural companies [2] New Business Development - Zhongyu is focusing on high-value products such as xanthan gum and resistant dextrin, utilizing its channels and customer resources to penetrate high-margin downstream markets [1][3] - Huazi's subsidiary, Henglu Bio, is entering the health and functional consumer goods sectors, creating synergies with Zhongyu in health food development [1][3] Financial Projections - Revenue from xanthan gum and resistant dextrin is expected to grow significantly, with projections of 0.65 billion, 4.2 billion, and 7.2 billion for the years 2025 to 2027, indicating a total revenue growth rate of 17.1%, 62.5%, and 31.8% respectively [5]