莲花控股2025年扣非预增超37.74% 主业稳健加码算力打造新增长点

Core Viewpoint - Under the dual drive of "consumption + technology," Lianhua Holdings is expected to achieve record high performance in 2025, with a projected net profit of 290 million to 330 million yuan, representing a year-on-year increase of 43.15% to 62.90% [1][3] Group 1: Financial Performance - For 2025, the company's net profit is forecasted to reach between 290 million and 330 million yuan, with a growth rate of 43.15% to 62.90% year-on-year [1][3] - The non-recurring net profit is expected to be between 280 million and 320 million yuan, with a year-on-year increase of 37.74% to 57.42% [1][3] - Revenue is projected to grow from 1.691 billion yuan in 2022 to 2.646 billion yuan in 2024, with net profit increasing from 46 million yuan to 203 million yuan during the same period [3] Group 2: Core Business Growth - The seasoning business has shown steady growth, with compound seasoning products like chicken essence and matsutake performing well, achieving revenue of 343 million yuan in the first three quarters of 2025, a year-on-year increase of 38.13% [3] - Liquid seasoning products, such as soy sauce, have seen rapid growth with a staggering year-on-year increase of 911.68%, significantly contributing to revenue growth [3] - Online sales revenue reached 281 million yuan in the first three quarters of 2025, a substantial increase of 154.47% year-on-year, while offline sales revenue was 2.196 billion yuan, up 20.48% [4] Group 3: Technology Business Development - Since entering the smart computing sector in 2023, Lianhua Holdings has shown effective strategic execution, with the computing segment becoming a second growth curve, achieving revenue of 97.67 million yuan in the first three quarters of 2025, a 75.32% year-on-year increase [2][5] - The company has signed a 200 million yuan procurement contract for 4,000 accelerator cards to enhance its computing service capabilities, with the first payment of 120 million yuan already made [5] - Lianhua Holdings has established a complete system for its computing business, focusing on personalized industry needs and extending to consumer markets with products like Lianxiaobox and Lianxiaomiao [6] Group 4: Future Strategy - The company plans to deepen its "consumption + technology" dual-drive strategy, consolidating its advantages in the seasoning sector while optimizing product matrices and channel layouts [7] - The technology sector will focus on enhancing independent research and development in computing, algorithms, and intelligent systems to further improve core competitiveness [7]