Company Overview - The company is Hubei Kangnong Seed Industry Co., Ltd., with the stock code 837403.BJ, operating in the agriculture sector [7] - The IPO application date was April 28, 2023, and the listing date is January 18, 2024, on the Beijing Stock Exchange [7] Disclosure and Compliance - The company was required to clarify the accuracy and completeness of its environmental compliance disclosures and to analyze its gross profit margin for 2021 [2] - It was also asked to disclose the impact of national policies on planting varieties and the future market demand for these varieties [2] Regulatory Penalties - On June 6, 2022, the company received a verbal warning from the National Equities Exchange and Quotations for financial data misreporting [3] - On December 6, 2023, the company was again verbally warned for disclosure violations [3] Market Performance - The company's stock price increased by 60.45% on the first day of listing [6] - Over the first three months post-listing, the stock price rose by 16.61% compared to the issue price [8] Financial Metrics - The company's issuance price-to-earnings ratio is 16.95 times, significantly lower than the industry average of 40.97 times, representing 41.37% of the industry mean [9] - The expected fundraising amount was 304 million yuan, but the actual amount raised was 170 million yuan, indicating a decrease of 44.33% [10] Short-term Performance - In 2024, the company's operating revenue increased by 16.80% year-on-year, while the net profit attributable to the parent company grew by 55.21% year-on-year [11] Overall Evaluation - The total score for the IPO project is 76.5, classified as C-level, with negative factors including the need for improved disclosure quality and high issuance costs [13]

Investment Rating - The investment rating for the company is "Accumulate" (maintained) [5] Core Views - The company has seen a significant increase in contract liabilities, up 410% year-on-year, indicating strong market acceptance of its corn seed products [6] - In H1 2025, the company reported operating revenue of 45.87 million yuan, a decrease of 2.68% year-on-year, while net profit attributable to shareholders was 8.69 million yuan, an increase of 12.22% year-on-year [6] - The company is focusing on expanding its overseas market and enhancing its domestic "big product" strategy, with successful collaborations and research advancements [6] Summary by Sections Market Performance - The closing price as of August 20, 2025, was 25.28 yuan, with a one-year high of 55.97 yuan and a low of 7.96 yuan [3] Financial Performance - In H1 2025, the company achieved a gross margin of 39.46%, an increase of 13.5 percentage points year-on-year [6] - The company’s contract liabilities reached 110 million yuan, reflecting a strong pre-sale performance for the 2025-2026 sales season [6] Revenue and Profit Forecast - The forecasted net profit for 2025-2027 is 93 million, 114 million, and 139 million yuan respectively, with corresponding P/E ratios of 27.1, 22.0, and 18.1 [6][7] - Revenue is expected to grow from 431 million yuan in 2025 to 687 million yuan in 2027, with a compound annual growth rate of approximately 24.27% [7] Strategic Initiatives - The company has established a new international division to expand its market reach, particularly in Southeast Asia, Africa, and South America [6] - Collaborations with ten research institutions have led to significant advancements in seed variety development [6]

Core Viewpoint - Kangnong Agricultural achieved a revenue of 45,874,198.27 yuan, representing a year-on-year decline of 2.68%, while the net profit attributable to shareholders increased by 12.22% to 8,688,528.41 yuan [2] Financial Performance - The company's operating revenue for the reporting period was 45,874,198.27 yuan, which is a decrease of 2.68% compared to the previous year [2] - The net profit attributable to the shareholders of the listed company was 8,688,528.41 yuan, showing a year-on-year growth of 12.22% [2]

证券代码：837403 证券简称：康农种业 公告编号：2025-119 湖北康农种业股份有限公司 投资理财管理制度 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 审议及表决情况 公司第四届董事会第二次会议审议通过《湖北康农种业股份有限公司投资理 财管理制度》，同意票数 9 票，反对票数 0 票，弃权票数 0 票。该议案无需提交 股东会审议。 二、 分章节列示制度主要内容： 第一条 为规范湖北康农种业股份有限公司（以下简称"公司"）的投资理 财管理，提高资金运作效率，防范投资理财决策和执行过程中的相关风险，提升 公司经济效益，根据《中华人民共和国公司法》《中华人民共和国证券法》《北京 证券交易所股票上市规则》《企业内部控制基本规范》及配套指引等有关法律法 规及《湖北康农种业股份有限公司章程》（以下简称"《公司章程》"）的规定，结 合公司实际情况，特制定本制度。 第二条 本制度适用于公司及下属各子公司、分公司的投资理财管理。 第三条 本制度所称投资理财是指公司以提高资金使用效率和收益水平为目 湖北康 ...

证券代码：837403 证券简称：康农种业 公告编号：2025-114 湖北康农种业股份有限公司 湖北康农种业股份有限公司（以下简称"公司"）向不特定合格投资者公开 发行股票并在北京证券交易所上市的申请于 2023 年 12 月 18 日经中国证券监督 管理委员会批复同意注册（证监许可〔2023〕2839 号）。经北京证券交易所于 2024 年 1 月 15 日出具的《关于同意湖北康农种业股份有限公司股票在北京证券交易 所上市的函》（北证函〔2024〕44 号）批准，公司股票于 2024 年 1 月 18 日在北 京证券交易所上市。 公司本次公开发行股票 13,160,000 股（超额配售选择权行使前），每股发行 价格人民币 11.20 元/股，募集资金总额人民币 147,392,000.00 元，扣除发行费用 人民币 23,281,551.37 元（超额配售选择权行使前，含增值税）后，本次募集资 金净额人民币 124,110,448.63 元。截至 2024 年 1 月 10 日，上述募集资金已到账， 并由永拓会计师事务所（特殊普通合伙）进行审验，出具了永证验字（2024）第 210002 号《验资报告》。 ...

证券代码：837403 证券简称：康农种业 公告编号：2025-118 湖北康农种业股份有限公司 董事、高级管理人员离职管理制度 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 审议及表决情况 第二章 离职情形与生效条件 公司第四届董事会第二次会议审议通过《湖北康农种业股份有限公司董事、 高级管理人员离职管理制度》，同意票数 9 票，反对票数 0 票，弃权票数 0 票。 该议案无需提交股东会审议。 二、 分章节列示制度主要内容： 湖北康农种业股份有限公司 董事、高级管理人员离职管理制度 第一章 总则 第一条 为规范湖北康农种业股份有限公司（以下简称"公司"）董事、高级 管理人员离职程序，确保公司治理结构的稳定性和连续性，维护公司及股东的合 法权益，根据《中华人民共和国公司法》《北京证券交易所股票上市规则》及《湖 北康农种业股份有限公司章程》（以下简称《公司章程》）的有关规定，制定本制 度。 第二条 本制度适用于公司全体董事、高级管理人员的辞任、任期届满、解 任等离职情形。 第三条 董事、高级管理人 ...

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Core Insights - The agriculture sector saw a rise of 0.73% on August 18, with Kangnong Seed leading the gains [1] - The Shanghai Composite Index closed at 3728.03, up 0.85%, while the Shenzhen Component Index closed at 11835.57, up 1.73% [1] Sector Performance - Kangnong Seed (837403) closed at 24.61, up 3.45% with a trading volume of 25,800 and a turnover of 62.49 million [1] - Other notable performers included: - Shennong Seed (681000E) at 4.97, up 2.47%, with a trading volume of 1.34 million and a turnover of 665 million [1] - Hainan Rubber (601118) at 5.09, up 2.21%, with a trading volume of 653,200 and a turnover of 330 million [1] - Honghui Fruits and Vegetables (603336) at 8.34, up 1.96%, with a trading volume of 121,000 and a turnover of 174 million [1] Capital Flow - The agriculture sector experienced a net outflow of 129 million from institutional investors, while retail investors saw a net inflow of 35.83 million [2] - Notable capital flows included: - Yasheng Group (600108) with a net inflow of 12.66 million from institutional investors [3] - Donghai Seed (002041) with a net inflow of 6.58 million from institutional investors [3] - Huagreen Bio (300970) with a net outflow of 0.84 million from institutional investors [3]

证券日报网讯 8月13日晚间，康农种业发布公告称，公司于2025年3月25日经第三届董事会第二十三次 会议及第三届监事会第二十一次会议审议通过《关于出售参股公司股权的议案》，拟将持有的未米生物 科技（青岛）有限公司（简称"未米生物"）2.43%股权转让给青岛青创汇金投资合伙企业（有限合伙） （简称"青创汇金"）。截至本报告披露日，受让方青创汇金、青创才赋、上海得时已将本次股权转让的 股款汇入公司账户，未米生物已完成股权转让的工商变更登记，并取得了青岛市李沧区市场监督管理局 颁发的《营业执照》。 （文章来源：证券日报） ...

本次股权转让完成后，公司将不再持有未米生物的股权。 二、交易进展情况 证券代码：837403 证券简称：康农种业 公告编号：2025-113 湖北康农种业股份有限公司 关于出售参股公司股权进展的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、交易概况 湖北康农种业股份有限公司（以下简称"公司"）于 2025 年 3 月 25 日经第 三届董事会第二十三次会议及第三届监事会第二十一次会议审议通过《关于出售 参股公司股权的议案》，拟将持有的未米生物科技（青岛）有限公司（以下简称 "未米生物"）2.43%股权转让给青岛青创汇金投资合伙企业（有限合伙）（以 下简称"青创汇金"）。具体内容详见公司于 2025 年 3 月 26 日在北京证券交易 所官网（www.bse.cn）披露的《湖北康农种业股份有限公司关于出售参股公司股 权的公告》（公告编号：2025-014）。 根据未米生物 2025 年 5 月 26 日的股东会决议，交易方案调整为将原单一受 让方青创汇金调整为青创汇金、青岛青创才赋股权投资合伙 ...