CCGB(SZ:300138)2025-04-18 10:16Market Position and Growth Potential - The company's main products, including chili red, chili extract, and lutein, currently hold a leading position in the global market, with significant growth potential ahead [2][3] - The chili red business commands an 80% market share globally, although the gross margin has declined due to high raw material costs in 2023 [8][9] International Expansion and Production Capacity - The company has established overseas production capabilities, including two factories in India and two farms in Zambia, with plans for further expansion in Myanmar [3][4] - The company aims to strategically develop processing capacity based on the growth of raw material bases [3] Financial Performance and Projections - In Q1 2025, the company anticipates a net profit of between 90 million and 120 million yuan, representing a year-on-year increase of 133.21% to 210.95% [4][5] - The herbal medicine business accounted for less than 2% of total revenue in 2024, indicating it is still in the early development stage [4][5] Competitive Advantages - The company has established competitive advantages through a focus on R&D, global layout, multi-product development, and integrated operations over its 20+ years in the plant extraction industry [4][5] - The company has developed a new production process for stevia sugar, achieving a 54% year-on-year revenue growth to 231 million yuan in 2024 [4][5] Industry Trends and Future Outlook - The plant extraction industry is expected to grow at a CAGR of 12.3% from 2022 to 2027, with the market size projected to reach 61.5 billion USD by 2027 [10][11] - The industry is experiencing a trend of increasing volume but decreasing prices, with a 21.3% increase in export volume to 134,000 tons in 2024, while total export value decreased by 7.7% to 3.01 billion USD [10][11]