Investment Rating - The investment rating for the company is "Buy" (maintained) [2][4] Core Views - The company is expected to achieve a net profit attributable to the parent company of 80 to 90 million yuan in 2024, representing a year-on-year growth of 50.33% to 69.12% [4] - The company's hybrid corn seed variety, Kangnongyu 8009, has shown good performance in the Huanghuaihai summer sowing area, gaining widespread recognition from downstream distributors and end farmers, which is expected to drive revenue growth [5] - The company plans to establish overseas bases and seek cooperation with local agricultural research institutes to address specific diseases [5] Financial Summary and Valuation Indicators - The company's projected revenue for 2024 is 382 million yuan, with a year-on-year growth of 32.7% [6] - The projected net profit for 2024 is 84 million yuan, with a year-on-year growth of 57.2% [6] - The projected EPS for 2024 is 1.18 yuan per share, with a corresponding PE ratio of 18.4 times [4][6] - The gross margin is expected to be 30.8% in 2024, slightly improving from 30.7% in 2023 [6] - The company’s total market capitalization is 15.42 billion yuan, with a circulating market capitalization of 9.02 billion yuan [2]
康农种业：北交所信息更新：康农玉8009品种在黄淮海开拓效果显现，2024年净利润同比高预增