主营业务销售强劲，动物营养龙头安迪苏（600299）(600299.SH)业绩持续高增。 4月28日，蓝星安迪苏股份有限公司(下称"安迪苏")公布了2025年一季度业绩报告。报告期内，公司营 收同比增长23%至43亿元，毛利同比增长14%至12.7亿元，净利润同比增长67.9%至4.65亿元。 据了解，安迪苏是一家具有80余年发展历史的全球化动物营养添加剂龙头企业。近年来，安迪苏一直实 施"双支柱"战略，即在不断巩固蛋氨酸行业领先地位的同时，加快特种业务的发展。 长江商报记者注意到，蛋氨酸是安迪苏的主要产品之一，2025年一季度，安迪苏功能性产品实现营收 33.18亿元，同比增长29%。其中，蛋氨酸业务销量同比增长24%，创单季销量纪录，这主要源于液体蛋 氨酸市场渗透率持续提升。 数据显示，2025年一季度，安迪苏两大"支柱业务"均实现增长。 公司功能性产品实现营收33.18亿元，同比增长29%，该业务毛利率为26%。其中，蛋氨酸业务销量同比 增长24%，创单季销量纪录。这主要源于密切监测产品价格并采取灵活机动的价格管理战略；所有工厂 均实现优异的生产稳定性和高产能利用率，抵消了原材料价格上涨带来的不利影响等 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [3][5][18]. Core Views - The company's revenue and net profit for the first quarter of 2025 showed significant year-on-year and quarter-on-quarter growth, with revenue reaching 4.299 billion yuan, a year-on-year increase of 22.99% and a quarter-on-quarter increase of 3.38%. The net profit attributable to shareholders was 465 million yuan, up 67.85% year-on-year and 131.19% quarter-on-quarter [1][7]. - The growth in the company's methionine business, which saw a 29% year-on-year increase in sales revenue, was driven by a 24% increase in liquid methionine sales volume and price increases implemented during the quarter [2][10]. - The company is implementing a "dual pillar" strategy, with steady growth in specialty products, which saw a 7% increase in revenue and a 5% increase in gross profit [2][17]. Summary by Sections Financial Performance - In Q1 2025, the company's gross profit increased by 14% to 1.27 billion yuan, with functional product sales revenue growing by 29% and specialty product sales revenue increasing by 7% [1][7]. - The gross margin for sales was 29.64%, a year-on-year decrease of 2.32 percentage points but a quarter-on-quarter increase of 0.43 percentage points. The net profit margin was 10.82%, up 2.90 percentage points year-on-year and 5.96 percentage points quarter-on-quarter [1][7]. Business Segments - The methionine segment's sales revenue grew by 29% year-on-year, supported by price increases and high production capacity utilization, which mitigated the impact of rising raw material costs [2][10]. - The vitamin segment performed well, with strong sales growth despite price pressures on vitamin A and robust demand for vitamin E [2][15]. - Specialty products showed stable growth, with notable increases in sales from specific product lines, including a 21% increase in selenium products and a 24% increase in palatability products [2][17]. Profit Forecasts - The company is expected to achieve net profits of 1.625 billion yuan, 1.795 billion yuan, and 2.040 billion yuan for the years 2025, 2026, and 2027, respectively, reflecting year-on-year growth rates of 35.0%, 10.4%, and 13.6% [3][18].

证券代码：600299 证券简称：安迪苏 公告编号：2025-025 蓝星安迪苏股份有限公司 2025 年一季度主要经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 蓝星安迪苏股份有限公司（以下简称"安迪苏"或"公司"）根据上海证券交 易所相关行业信息披露指引要求的要求，现将公司 2025 年一季度主要经营数据 披露如下： 一、 主要产品销售情况 营业收入分产品情况 单位:元 币种:人民币 | | | | | 主营业务分产品情况 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 分产品 | 营业收入 | 营业成本 | 毛利率 | 营业收 入比上 | 营业成 本比上 | | 毛利率比上年增减 | | | | | | | | | （%） | | | | | | 年增减 | 年增减 | | | | 功能性产品 | 3,318,731,133 | 2,452,653,060 | 26% | 29% | 32% | 减少 | 2 个百分点 | | 特种产品 ...

星标 ★ IPO日报 精彩文章第一时间推送 近期，全球动物营养添加剂龙头蓝星安迪苏股份有限公司（600299.SH，下称"安迪苏"）发布公告，公司拟向特定对象发行预计发行数量不超过8 亿股公司股票，募集资金总额不超过30亿元，用于四大核心项目及补充流动资金。 4月16日，该事项获上交所受理。 不过，作为动物必需氨基酸，蛋氨酸市场长期被赢创、住友、诺伟司等国际巨头垄断。兴业证券研报显示，全球蛋氨酸市场规模预计2028年将突破 150万吨，当前国产化率不足30%。 在此次募投项目中，公司拟使用17.43亿元，投入年产能为15万吨的固体蛋氨酸项目，占总募资额的46.3%，进一步扩产。该项目实施地点在福建 省泉州市，预计于2027年投产。 值得关注的是，安迪苏南京工厂的液体蛋氨酸产能已达全球第二，与此次固体蛋氨酸的扩产将形成协同效应。 这是继2015年通过反向收购重组上市后，公司规模最大的资本运作。 制图：佘诗婕 发挥协同效应 据悉，安迪苏主要从事动物营养添加剂的研发、生产及销售。公司在动物饲料添加剂领域中，多个核心产品的产业规模与技术水平处于行业领先地 位。 具体来看，公司产品主要分为两类，包括功能性产品和特种产品 ...