证券研究报告·北交所公司点评报告·其他塑料制品制 太湖远大（920118） 2025 中报点评：Q2 业绩环比高增 252%，募 投超高压线缆料逐步量产 增持（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 1,524 | 1,594 | 1,725 | 1,909 | 2,139 | | 同比 | 9.43 | 4.64 | 8.23 | 10.64 | 12.05 | | 归母净利润（百万元） | 77.46 | 70.51 | 73.71 | 83.63 | 96.75 | | 同比 | 26.79 | (8.97) | 4.53 | 13.46 | 15.69 | | EPS-最新摊薄（元/股） | 1.52 | 1.39 | 1.45 | 1.64 | 1.90 | | P/E（现价&最新摊薄） | 18.00 | 19.77 | 18.91 | 16.67 | 14.41 | [Table_Tag] [Ta ...

Group 1: Five-Year Plan Insights - The "15th Five-Year Plan" draft is expected to be released in Q4 of this year, marking the beginning of the 2026-2030 period, which is crucial for understanding long-term investment trends in China [2][3] - The "15th Five-Year Plan" is significant as it serves as a blueprint for national economic and social development, facilitating the achievement of a modern socialist country and better integration of effective markets and proactive government [3][4] - Key focus areas for the "15th Five-Year Plan" include overall goals, economic and social development targets, innovation-driven growth, and green ecological considerations [5][6] Group 2: Cable Material Industry Analysis - The company, Taihu Yuanda, specializes in environmentally friendly cable materials and has a strong brand influence and technical accumulation in the industry [18][21] - The company has seen stable overall performance, with a compound annual growth rate of 18.14% in revenue from 2020 to 2024, although Q1 2025 experienced a revenue decline of 13.14% due to market conditions [19][20] - The cable materials industry is shifting towards high-performance and specialized products, driven by demand from sectors such as power, telecommunications, and renewable energy [20][21] Group 3: Dairy Industry Outlook - The dairy industry is currently facing an oversupply situation, but demand is expected to stabilize as consumer behavior normalizes and potential consumption stimulus policies are introduced [23][26] - The upstream production capacity is likely to accelerate its reduction due to previous overexpansion and current financial pressures on dairy farms, leading to a potential turning point in raw milk prices [24][25][26] - The forecast indicates that after a period of fluctuation, the raw milk cycle may enter a longer-lasting upward trend in the coming years, driven by improved demand and reduced supply [26]