CCGB(SZ:300138)2023-08-15 10:21Financial Performance - In the first half of 2023, the company achieved operating revenue of 3.669 billion CNY, a year-on-year increase of 24.23% [2] - The net profit attributable to shareholders, after deducting non-recurring gains and losses, was 236 million CNY, with non-recurring gains and losses amounting to 62.87 million CNY, up 339.5% year-on-year [2] - The overall profit growth rate is consistent after excluding the impact of non-recurring gains and losses [2] Product Performance - The gross margin for natural pigments/spices/nutritional and medicinal products was 20.93%, a decrease of 2.39% year-on-year, primarily due to low prices of lutein [3] - Sales of chili red pigment reached approximately 5,900 tons, a year-on-year increase of about 16%, with chili extract prices remaining high [3] - Sales of feed-grade lutein decreased by about 70%, while food-grade lutein sales increased by over 110% [3] New Business Development - The health food business achieved sales revenue of over 70 million CNY, a year-on-year growth of over 60% [4] - The company is expanding its raw material base, with significant growth in planting areas for marigold in India and Zambia [4] - The cottonseed protein business maintained steady operations, effectively mitigating risks from market fluctuations [4] Investment and Capacity Expansion - The company is focusing on three major projects: a cottonseed processing project with a capacity of 350,000 tons, a marigold extraction production line in Zambia, and a comprehensive extraction project for turmeric and silymarin [5] - The company plans to expand its planting area in Zambia and improve production line construction based on planting conditions [4] Market and Pricing Strategy - The fluctuation in lutein prices is significantly influenced by the agricultural cycle of marigold, leading to price volatility [5] - The company is implementing pre-sale strategies to stabilize planting expectations and mitigate price fluctuations in the lutein market [5] - The demand for feed-grade lutein is growing at a low single-digit rate annually, with sales adjustments made to control market supply [5]