Core views

On August 21, the company released its semi-annual report for 2023. The revenue side of the main business intermediates grew steadily, and the profit side slightly exceeded expectations. Management and financial expenses have been reduced a lot, operating cash flow has been optimized, and long-term loans have been drastically reduced. Intelligent transformation, land circulation, and fertilizer sales have led to increased profits. The synthetic biology layout continues to advance. The first phase of the Gongliu mass production base project is expected to be completed by the end of the year. Bisabolol has already entered the sales stage. Synthetic biology is expected to bring new performance growth points, and we are optimistic about the company's long-term development.

occurrences

The company released its 2023 semi-annual report

On August 21, the company released its 2023 semi-annual report. 23H1 achieved total operating income of 2,417 million yuan, an increase of 21.84%; net profit of 391 million yuan, an increase of 64.82% over the previous year; net profit of 393 million yuan after deducting non-return net profit of 393 million yuan, an increase of 65.49% over the previous year.

23Q2's quarterly revenue was 1,147 million yuan, up 16.28% year on year; net profit of 215 million yuan, up 57.75% year on year; net profit after deducting non-return net profit of 218 million yuan, up 58.90% year on year.

Brief review

Intermediates are growing steadily, and the profit side slightly exceeds expectations