Core Viewpoint - Guilin Rhein Biotech Co., Ltd. reported a sales revenue growth of over 15% in the first half of 2025, but profits were under pressure due to industry competition, increased depreciation, and tariffs [1]. Group 1: Business and Performance - The company’s sales revenue growth exceeded 15% in the first half of 2025, but profits faced challenges from competitive pressures, rising depreciation costs, and tariffs [1]. - The company’s Vice General Manager and Board Secretary, Luo Huayang, participated in an online communication with nine institutions, including Zheshang Securities and Tianfeng Securities, to discuss operational performance [1]. Group 2: Raw Material and Product Price Trends - The purchase price of monk fruit raw materials is expected to remain stable this year, while the price of stevia raw materials is anticipated to be similar to last year [2]. - Some specifications of stevia products have seen slight price declines due to industry competition, but raw material costs are expected to support price stability [2]. - The price of monk fruit extracts is projected to rise as raw material prices recover [2]. Group 3: Product Development and Market Position - Rhein Biotech holds exclusive technology for the industrialization of stevia glycoside RM2, which is noted for its good taste, compatibility, and relatively controllable costs [2]. - The domestic certification for RM2 is dependent on government approval, while it has already received GRAS certification from the FDA in the U.S. and is in discussions with clients for cooperation [2]. - The company expects its synthetic biology workshop capacity to meet market demand within the next 2-3 years [2]. Group 4: Industrial Hemp Business - Despite potential policy adjustments regarding hemp by the U.S. President, there has not been a significant market recovery [2]. - The Indiana factory has been transformed into a comprehensive extraction facility, and the company will actively follow up if demand for industrial hemp revives [2]. Group 5: Competitive Advantages and Future Outlook - Rhein Biotech enhances its competitiveness through technological innovation and expanding application scenarios, particularly in synthetic biology and emerging markets like pet nutrition [2]. - The utilization rate of the new stevia extraction factory is expected to reach 40-50% for the year, with a significant increase anticipated after new raw materials are launched in September [2]. - The Indiana factory is positioned to navigate complex trade environments, focusing on natural sweeteners and leveraging local raw material procurement for supply chain security [2]. - The company anticipates a positive shift in operational performance in the third and fourth quarters of 2025, as trade policy uncertainties diminish and new products are launched [2].

证券代码：002166 证券简称：莱茵生物 桂林莱茵生物科技股份有限公司 投资者关系活动记录表 编号：2025-003 | | □特定对象调研 □分析师会议 | | --- | --- | | □媒体采访 | □业绩说明会 | | 投资者关系活动 □新闻发布会 | □路演活动 | | 类别 □现场参观 | | | 其他 ☑ | 线上交流 | | 参与单位名称及 | 浙商证券杨骥、杜宛泽、隋牧含，天风证券戴飞、马裕洲，华鑫证券张 | | | 倩，华福证券童杰，东方证券王树娟，德福资本王晓彤、桑淼，杭州巨 | | 人员姓名 | 子私募基金张立烽，Pleiad Investment Advisors Limited Simon Sun | | 时间 年 2025 | 月 日 8 29 | | 地点 公司 | | | 上市公司接待人 | 副总经理兼董事会秘书 罗华阳 | | 员姓名 | | | | 一、董事会秘书介绍 2025 年上半年经营情况与业绩情况。 | | | 二、问答交流 | | | 问题一、请问公司核心大单品罗汉果和甜叶菊今年原材料收购价格 | | | 变化情况。以及如何看待往后产品的价格变化趋势？ | ...