VTR(SZ:300381)2025-09-20 06:24Production and Market Strategy - The company has halted the production of Vitamin B12 due to market reasons [2] - In 2024, the production of biological enzyme preparations reached 41,533 tons, with sales of 42,383 tons, indicating a near-saturation capacity utilization [2] - The company is focusing on expanding its global market presence, having registered products in over 30 countries and established long-term partnerships with over 2,300 clients [2] Research and Development - The company has made progress in developing new products, including plant extracts and fermentation products, while optimizing extraction processes for various plants [2] - New product certifications have been obtained for feed and feed additives, enhancing the company's product portfolio [2] Financial Performance and Shareholder Engagement - As of September 10, 2025, the number of shareholders is 20,222 [4] - The management is committed to improving company performance and achieving the goals set in the equity incentive plan over the next three years [5] - The company is actively engaging in value management through cash dividends, share buybacks, and equity incentives [6] Market Position and Challenges - The company is addressing the challenge of its stock price being close to net asset value, which is uncommon for growth stocks [5] - The management emphasizes the importance of maintaining a strong domestic market position while pursuing international expansion [5]