Core Viewpoint - The company, Morning Bio, is experiencing a significant recovery in its performance, with a projected net profit increase of 102.33% to 132.38% in the first half of 2025 compared to the same period last year, primarily driven by the recovery of its cottonseed business and growth in plant extraction products [1][4]. Group 1: Financial Performance - Morning Bio expects a net profit of 202 million to 232 million yuan in the first half of 2025, compared to 99.83 million yuan in the same period last year [1][4]. - In 2023, the company achieved a record high revenue of 6.872 billion yuan and a net profit of 480 million yuan [3]. - In 2024, the company faced challenges with a net profit drop of 80.39% to 94.05 million yuan due to significant losses in the cottonseed business [3][4]. Group 2: Business Segments - The recovery in the cottonseed business is attributed to improved market conditions, with the company planning to increase the protein content in its products to enhance profitability [4][7]. - The plant extraction business, including products like chili red, chili essence, and stevia glycosides, has shown a year-on-year increase in gross profit, contributing to overall performance improvement [1][4]. Group 3: Industry Position - Morning Bio has become the largest listed company in China's plant extraction industry and ranks among the top tier globally, competing with international leaders [5][6]. - The company has developed proprietary technologies for extracting chili red pigment, positioning China as a leading producer in this sector [5]. Group 4: Technological Advancements - The company has invested nearly 10 million yuan in process improvements for its cottonseed business and over 3 million yuan in upgrading its stevia production line, achieving a 30% reduction in production costs [7]. - The first quarter of 2025 saw the plant extraction business generate 867 million yuan in revenue, a 13.78% increase year-on-year, attributed to a successful volume-based pricing strategy [7].