31 August 2025 | 3:06PM HKT Dabeinong (002385.SZ) Buy Earnings Review: 1H25A above expectation; acquisition drives positive surprise in traditional seeds; maintain Buy | 002385.SZ | | --- | | 12m Price Target: Rmb8.00 | | Price: Rmb4.23 | | Upside: 89.1% | DBN reported 1H25A net profit of Rmb235mn, or EPS of Rmb0.055/sh, versus loss of Rmb0.036/sh in 1H24A. Excluding one-off items including investment gain on equity disposal, government subsidy, fair value gain, and other extraordinary items, recurring net ...

Market Overview - The three major indices opened mixed, with the Shanghai Composite Index down 0.01%, the Shenzhen Component Index down 0.03%, and the ChiNext Index up 0.17% [1] - The Shanghai Composite Index is at 3380.21, with a decline of 0.01% and 741 gainers against 1107 losers [2] - The Shenzhen Component Index is at 10246.52, down 0.03%, with 745 gainers and 1668 losers [2] - The ChiNext Index is at 2052.00, up 0.17%, with 357 gainers and 855 losers [2] External Market - The US stock market has paused its rebound, with the S&P 500 down 0.39% to 5940.46, the Nasdaq down 0.38% to 19142.71, and the Dow Jones down 0.27% to 42677.24 [3] - The Nasdaq China Golden Dragon Index fell 0.65%, with mixed performances from major Chinese tech stocks [3] Institutional Insights - CITIC Securities highlights rapid progress in the AI industry chain, expecting continued upward trends due to ongoing iterations of AI models and technologies, benefiting software companies with data, customers, and scenarios [4] - Huatai Securities continues to recommend the pet sector, noting strong Q2 performance data and upcoming catalysts such as events and promotions [5] - Guotai Junan Securities reports high growth in feed production, with a 4.2% month-on-month increase and a 9.0% year-on-year increase in April 2025, driven by recovery in livestock and aquaculture [6] - Huatai Securities also recommends real estate stocks with a "three good" logic, focusing on companies with good credit, good cities, and good products, particularly in core cities [7]