众兴菌业：预计2025年净利同比增长134.32%-173.37%

Core Viewpoint - Zhongxing Junye (002772) expects a significant increase in net profit for 2025, projecting a growth of 134.32% to 173.37% year-on-year, driven by rising sales prices and increased production capacity [4] Financial Performance - The company forecasts a net profit attributable to shareholders of 300 million to 350 million yuan for 2025, with a non-recurring net profit expected to be between 269 million and 319 million yuan, reflecting a year-on-year growth of 192.57% to 247.06% [4] - Basic earnings per share are projected to be between 0.8 yuan and 0.93 yuan [4] - As of January 26, the company's price-to-earnings ratio (TTM) is approximately 17.67 to 20.62 times, with a price-to-book ratio (LF) of about 1.82 times and a price-to-sales ratio (TTM) of around 3.1 times [4] Business Operations - The main business of the company includes research, industrial cultivation, and sales of edible mushrooms [13] - The increase in profit is attributed to stable sales prices of Agaricus bisporus, increased production and sales from the Hubei Zhongxing base, and a recovery in sales prices of enoki mushrooms in the second half of the year [13] - Financial expenses have decreased by approximately 20 million yuan year-on-year due to changes in market interest rates, exchange rates, and interest capitalization [13] Historical Financial Data - Historical net profit and non-recurring net profit data shows a consistent upward trend, with projections indicating continued growth into 2025 [14] - The year-on-year growth rates for net profit and non-recurring net profit are expected to be significantly positive, indicating strong operational performance [14]