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Longping Hi-Tech (000998) Company Information Update Report: Corn and rice seeds performed well, leading seed industry leaders reversed their plight
Benefiting from consolidation and rising profitability, revenue and profit increased sharply in 2023, maintaining the “buy” rating, the company's revenue/net profit to mother in 2023 was 92.23/200 million yuan, +22.45% /+124 compared to the same period last year
Longping Hi-Tech (000998): Stable leading position in the seed industry, leading genetically-modified corn seed layout is expected to bring new growth
The leading position in the seed industry is stable, and the genetically-modified corn seed layout is expected to bring new growth events: 1) The company disclosed the 2023 annual report, and the company achieved operating income of 9.22 billion yuan for the full year of 2023, an increase of 23%; net profit to mother2
Longping Hi-Tech (000998): Domestic owners' profits exceed expectations and await the recovery of the Brazilian market
The company's domestic rice and corn seed industry has a solid foundation, and profit performance has exceeded expectations. Net profit was briefly pressured by low food prices in Brazil; it is not ruled out that the company may achieve its revenue target of 10 billion dollars in 2024. The volume and profit of the rice growing industry increased, and the profit performance of the corn seed industry
Longping Hi-Tech (000998): Three-dimensional inflection point in business, management, and capital, performance can be expected to be released
The 2023 results are in line with the performance forecast range, and the 1Q24 results are in line with our expectations. The company announced the results for 23 and 1Q24, achieving revenue of 92.27 billion yuan. After adjusting the development of Longping and showing the impact, the year-on-year ratio is +22
Longping Hi-Tech (000998) Comment: The corn and rice seed industry has grown rapidly in 23 years, and the results have drastically reversed losses
The company released the 2023 Annual Report and the 2024 First Quarter Report. Longping Hi-Tech achieved revenue of 9.22 billion yuan in 2023, +22.5% year-on-year after adjustment (its domestic business revenue was 5.33 billion yuan, year-on-year +
Longping Hi-Tech (000998): It also showed that Longping's development increased revenue scale and steady improvement in operating performance
Core conclusion event: On April 28, the company released its annual report for the year 23 and the quarterly report for the year 24. For the full year of '23, the company achieved revenue/net profit of RMB 92.23/200 million yuan, +22.45% /+12 year-on-year respectively
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