Core Viewpoint - Jiangtian Chemical announced that Nantong Jiangshan Pesticide Chemical Co., Ltd. will reduce its shareholding by 7.218 million shares, accounting for 5.00% of the total share capital, from June 6, 2025, to November 13, 2025 [1] Group 1 - Nantong Jiangshan Pesticide Chemical Co., Ltd. will decrease its shareholding from 15.00% to 10.00% after the completion of the share reduction [1] - As of the date of the report, the share reduction plan has not been fully implemented, and there are no plans for share repurchase in the next 12 months [1] - The company will continue to fulfill its information disclosure obligations as required [1]

Core Viewpoint - Jiangshan Co., Ltd. has shown a significant increase in stock price this year, with a 70.50% rise, despite a slight decline in recent trading days [1][2]. Financial Performance - For the period from January to September 2025, Jiangshan Co., Ltd. achieved a revenue of 4.516 billion yuan, representing a year-on-year growth of 5.20% [2]. - The net profit attributable to shareholders for the same period was 425 million yuan, marking a substantial increase of 147.91% year-on-year [2]. Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 9.05% to 19,100, while the average circulating shares per person increased by 9.95% to 22,509 shares [2]. - The company has distributed a total of 2.693 billion yuan in dividends since its A-share listing, with 384 million yuan distributed over the past three years [3]. Stock Market Activity - On November 14, Jiangshan Co., Ltd. saw its stock price rise by 2.11%, reaching 23.70 yuan per share, with a trading volume of approximately 93.08 million yuan [1]. - The company’s market capitalization stands at 10.206 billion yuan, with a turnover rate of 0.93% [1]. Business Overview - Jiangshan Co., Ltd. primarily engages in the research, production, and sales of agricultural chemicals, including herbicides and insecticides, as well as chemical products and new materials [1]. - The revenue composition of the company includes 61.85% from agricultural products, 14.05% from chemical products, 13.95% from new materials, and 9.40% from thermal power products [1]. Institutional Holdings - As of September 30, 2025, major shareholders include China Europe Fund and Hong Kong Central Clearing Limited, with notable changes in their holdings [3].

Core Viewpoint - Jiangshan Co., Ltd. (stock code: 600389) disclosed on November 13 that as of November 10, 2025, Fuhua Technology holds 20,906,403 shares of the company, representing a 4.85% ownership stake [1] Summary by Category - **Shareholding Information** - Fuhua Technology's shareholding in Jiangshan Co., Ltd. amounts to 20,906,403 shares [1] - The ownership percentage of Fuhua Technology in Jiangshan Co., Ltd. is 4.85% [1]

Core Viewpoint - Jiangshan Co., Ltd. (600389) is actively working to obtain pesticide registration for its innovative drug JS-T205 (Benzoylurea) to facilitate its market launch [1] Group 1 - The company is in communication with regulatory authorities to expedite the new pesticide registration process [1]

Core Viewpoint - Jiangtian Chemical announced that its major shareholder, Jiangshan Co., plans to reduce its stake in the company by 2,495,200 shares, representing 1.73% of the total share capital, between November 6 and November 11, 2025 [1] Summary by Relevant Sections - **Shareholder Actions** - Jiangshan Co. will reduce its holdings in Jiangtian Chemical through centralized bidding and block trading [1] - After the reduction, Jiangshan Co. will hold 14,694,000 shares, which is 10.18% of the total share capital [1] - **Impact of the Equity Change** - The equity change will trigger a change in ownership that touches the 1% integer multiple threshold [1]

Core Viewpoint - Jiangtian Chemical (300927.SZ) announced a significant share reduction by its major shareholder, Nantong Jiangshan Pesticide Chemical Co., Ltd. [1] Group 1: Shareholder Actions - Jiangshan Co. plans to reduce its holdings by 2,495,200 shares, representing 1.73% of the total share capital of Jiangtian Chemical [1] - After the reduction, Jiangshan Co. will hold 14,694,000 shares, which is 10.18% of the total share capital [1] - The share reduction will occur between November 6 and November 11, 2025, through centralized bidding and block trading methods [1]

Core Insights - The agricultural chemical sector experienced a decline of 0.94% on November 12, with Chengxing Co. leading the drop [1] - The Shanghai Composite Index closed at 4000.14, down 0.07%, while the Shenzhen Component Index closed at 13240.62, down 0.36% [1] Stock Performance Summary - Baiao Chemical (603360) saw a closing price of 34.59, with an increase of 4.22% and a trading volume of 182,100 shares, totaling a transaction value of 613 million yuan [1] - Chengxing Co. (600078) reported a significant decline of 10.00%, closing at 12.06 with a trading volume of 807,000 shares and a transaction value of 979 million yuan [2] - The overall agricultural chemical sector had a net outflow of 1.573 billion yuan from major funds, while retail investors contributed a net inflow of 1.245 billion yuan [2][3] Fund Flow Analysis - Major funds showed a net inflow of 34.63 million yuan into Luohua Technology (600691), while retail investors had a net outflow of 28.86 million yuan [3] - Li Min Co. (002734) experienced a net inflow of 26.16 million yuan from major funds, but a net outflow of 34.85 million yuan from retail investors [3] - Baiao Chemical (603360) had a net inflow of 11.19 million yuan from major funds, with retail investors showing a net outflow of 8.34 million yuan [3]

Core Insights - Jiangshan Chemical achieved a revenue of 4.516 billion yuan in the first nine months of 2025, representing a year-on-year growth of 5.20% [1] - The net profit attributable to shareholders reached 425 million yuan, showing a significant increase of 147.91% year-on-year [1] - The company reported a net profit of 335 million yuan after deducting non-recurring gains and losses, which is a year-on-year growth of 103.62% [1] Financial Performance - For the first nine months, the production volumes of herbicides, insecticides, and caustic soda were 69,200 tons, 18,100 tons, and 700,300 tons respectively [1] - Sales revenues for these products were 2.034 billion yuan, 554 million yuan, and 421 million yuan respectively [1] - In Q3 alone, Jiangshan Chemical generated a revenue of 1.157 billion yuan, marking a year-on-year increase of 2.75% [1] - The net profit for Q3 attributable to shareholders was 86.725 million yuan, reflecting a dramatic year-on-year growth of 11,890.01% [1] Strategic Initiatives - The company is focusing on precise marketing strategies and innovative sales models to drive revenue growth [2] - Jiangshan Chemical is actively pursuing cost reduction and efficiency improvements through optimized procurement management [2] - The company emphasizes technological innovation, enhancing resource conversion efficiency through process optimization and recycling [2] - Jiangshan Chemical aims to build a green, efficient, and sustainable competitive advantage while deepening its core business layout [2]

Core Viewpoint - Jiangshan Chemical's performance in the first three quarters of 2025 shows significant growth in revenue and net profit, driven by effective marketing strategies and cost reduction efforts [1][2] Financial Performance - In the first nine months of 2025, Jiangshan Chemical reported a revenue of 4.516 billion yuan, an increase of 5.20% year-on-year [1] - The net profit attributable to shareholders reached 425 million yuan, marking a substantial increase of 147.91% [1] - The net profit after deducting non-recurring gains and losses was 335 million yuan, up by 103.62% [1] - For the third quarter alone, the company achieved a revenue of 1.157 billion yuan, a year-on-year growth of 2.75% [1] - The net profit for the third quarter was 86.73 million yuan, showing an extraordinary increase of 11,890.01% [1] Product Performance - The production volumes for key products in the first nine months included 69,200 tons of herbicides, 18,100 tons of insecticides, and 700,300 tons of chlor-alkali products [1] - Sales revenues for these products were 2.034 billion yuan for herbicides, 554 million yuan for insecticides, and 421 million yuan for chlor-alkali products [1] Strategic Initiatives - The company is focusing on precise marketing strategies and innovative sales models to drive revenue growth [2] - Jiangshan Chemical is committed to cost reduction and efficiency improvement through optimized procurement management [2] - The company emphasizes technological innovation, enhancing resource conversion efficiency through process optimization and recycling [2] - Jiangshan Chemical aims to build a green, efficient, and sustainable competitive advantage while deepening its core business layout [2]

Core Viewpoint - Jiangshan Co., Ltd. has experienced a stock price increase of 67.84% year-to-date, but recent trading shows a decline of 2.02% on November 12, with a market capitalization of 10.047 billion yuan [1] Financial Performance - For the period from January to September 2025, Jiangshan Co., Ltd. achieved a revenue of 4.516 billion yuan, representing a year-on-year growth of 5.20%, while the net profit attributable to shareholders increased by 147.91% to 425 million yuan [2] Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 9.05% to 19,100, with an average of 22,509 circulating shares per shareholder, an increase of 9.95% [2] - The company has distributed a total of 2.693 billion yuan in dividends since its A-share listing, with 384 million yuan distributed over the past three years [3] Stockholder Composition - Among the top ten circulating shareholders, China Europe Times Pioneer Stock A holds 13 million shares, remaining unchanged, while Hong Kong Central Clearing Limited reduced its holdings by 662,000 shares to 4.667 million shares [3] - New shareholder Penghua China 50 Mixed Fund holds 3.130 million shares, while Xingquan Huan Yuan Two-Year Holding Mixed Fund has exited the top ten circulating shareholders [3] Business Overview - Jiangshan Co., Ltd. primarily engages in the research, production, and sales of pesticide products (61.85% of revenue), chemical products (14.05%), new materials (13.95%), and thermal power products (9.40%) [1]