TIANMA TECH(SH:603668)2024-06-25 09:26Group 1: Company Overview and Strategy - Tianma Technology is focused on integrating the eel industry chain and aims to build a world-class food supply chain platform centered on the eel industry [6] - The company has established a presence in multiple provinces including Fujian, Jiangxi, Hubei, Guangdong, and Guangxi, creating a protective barrier for the eel industry [6] - The goal is to develop a national-level modern agricultural high-tech industrial park centered on eel, with a focus on sustainable development and technological innovation [6][11] Group 2: Financial Performance - For the first half of 2024, the company expects a net profit attributable to shareholders of between 50 million and 65 million yuan, representing a year-on-year increase of approximately 277.8% to 331.2% [7] - The net profit after deducting non-recurring gains and losses is projected to be between 48 million and 63 million yuan, an increase of about 260.4% to 310.5% compared to the previous year [7] - The company anticipates a total output of 15,000 tons of eel for the year, with the first half of 2024 seeing a historical high of over 7,000 tons [9] Group 3: Market Conditions and Supply Chain - Global eel fry catch is expected to be less than 35 tons this year, a decrease of over 30% compared to the previous year, affecting supply and demand dynamics [8][9] - The average price of American eel has increased by 5,000 to 9,000 yuan per ton, indicating a bullish market outlook [9][10] - The company has established a full traceability system for its food products, ensuring safety and quality for consumers [8][12] Group 4: Production and Operations - The company has completed the construction of two major eel farming bases and is in the process of ramping up production [7][9] - Eel farming costs are primarily influenced by fry and feed costs, which account for 70% to 80% of total costs [10] - The company employs a closed-loop, traceable farming process that enhances efficiency and sustainability [11][12] Group 5: Future Outlook and Development Plans - Tianma Technology aims to enhance its market competitiveness through technological innovation and operational efficiency [10][11] - The company is committed to expanding its food production capacity and has seen record sales in its grilled eel products, with sales in the first half of the year surpassing the total for the previous year [12] - The strategic focus for 2024 includes maintaining a steady growth trajectory while adapting to market demands and enhancing the overall supply chain [13]