股价来到“临界点”，嘉华股份后市怎么走

Core Viewpoint - Jia Hua Co., Ltd. has shown a stable stock price trend with an increase of over 50% in the past year, but is currently facing a period of consolidation and direction selection [1][10]. Group 1: Stock Performance - Since its listing in September 2022, Jia Hua's stock has experienced a slight decline in performance, with a total market capitalization of 2.725 billion yuan as of February 9 [2][11]. - After reaching a low point in February 2024, the stock has rebounded, showing a strong performance with a 56.67% increase from January 6, 2025, to the present [2][11]. - The stock has been in a consolidation phase for the last 60 trading days, indicating uncertainty in its future direction [3][12]. Group 2: Business Overview - Jia Hua primarily engages in the research, production, and sales of soybean protein and related by-products, sourcing non-GMO soybeans from farmers and distributors [4][13]. - The company's products are utilized across various sectors, including meat products, snack foods, dairy products, nutritional supplements, hot pot ingredients, baked goods, pet food, specialized medical diets, and pharmaceuticals [4][13]. Group 3: Market and Financial Performance - The company has a broad sales market covering nearly 100 countries and regions, including the EU, the USA, Australia, and Japan [5][14]. - For the first three quarters of 2025, Jia Hua reported operating revenue of 1.027 billion yuan, a year-on-year decrease of 7.19%, while net profit was 82.173 million yuan, an increase of 7.46% [5][14]. - Over the three years since its listing, the company's operating revenue has shown a decline from 1.613 billion yuan in 2022 to 1.488 billion yuan in 2024, with net profits slightly decreasing from 114 million yuan to 109 million yuan [5][14]. Group 4: Future Growth Expectations - The company is expected to see growth in 2025 as its production capacity is set to be released, with three new projects expected to be completed by the end of 2024 and gradually operational in the first half of 2025 [7][17]. - The recovery of downstream industries, such as meat and snack foods, is anticipated to enhance the company's performance [8][17]. - Jia Hua has established a strong relationship with major client Anjiyuan Food, which has recently become one of its top ten shareholders, holding 3.51% of the total shares [9][18].