JLSG(SH:600189) Chang Jiang Shang Bao·2026-01-09 00:02Core Viewpoint - The company Quanyangquan (600189.SH) is expected to report significant growth in its 2025 performance, with projected revenue of 1.273 billion yuan and a net profit attributable to shareholders of 15.2236 million yuan, marking a year-on-year increase of 6.24% and 147.89% respectively [1][2]. Group 1: Financial Performance - For 2025, Quanyangquan anticipates total revenue of 1.273 billion yuan, up from 1.198 billion yuan in the previous year, reflecting a growth of 6.24% [2]. - The net profit attributable to shareholders is projected to reach 15.2236 million yuan, a substantial increase of 147.89% compared to 6.1412 million yuan in the previous year [2]. - The company has shown a consistent upward trend, with both revenue and net profit increasing in 2024, with growth rates of 6.77% and 101.34% respectively [2]. Group 2: Business Segments - Quanyangquan's core business has shifted to bottled mineral water, which has become the main revenue driver, contributing over half of the total revenue from 2022 to 2024 [1][8]. - The mineral water segment's revenue for 2022 to 2024 was 716 million yuan, 800 million yuan, and 822 million yuan, accounting for 56.44%, 71.28%, and 68.58% of total revenue respectively [8]. - The company expects mineral water sales to increase to 150,340 tons in 2025, representing a year-on-year growth of 33.84% [1][8]. Group 3: Historical Context and Strategic Developments - Quanyangquan has undergone significant transformations since its inception, including major asset restructurings that expanded its business into mineral water and landscaping [5][6]. - The company has faced periods of financial instability, with net profits fluctuating significantly from 2010 to 2018, including a loss of 1.485 billion yuan in 2019 [3]. - Recent strategic decisions have reinforced the commitment to strengthen the mineral water business, with plans to enhance production and expand market reach [8].