国浩律师（南京）事务所 中国江苏省南京市汉中门大街 309 号 B 座 5、7-8 层 邮编：210036 5、7-8/F, Block B, 309 Hanzhongmen Street, Nanjing, China, 210036 电话/Tel: +86 25 8966 0900 传真/Fax: +86 2589660966 网址/Website: http://www.grandall.com.cn 二〇二五年四月 关 于 江苏扬农化工股份有限公司 2022 年限制性股票激励计划 第二个解除限售期解除限售条件未成就暨 回购注销部分限制性股票 的 法律意见书 国浩律师（南京）事务所 | 第一节 律师声明的事项 3 | | --- | | 第二节 正 文 5 | | 一、本次激励计划的实施及本次回购注销的批准与授权 5 | | （一）本次激励计划的实施情况 5 | | （二）本次回购注销已履行的决策程序 7 | | 二、本次回购注销的具体情况 8 | | （一）本次回购注销的原因及依据 8 | | （二）本次回购注销的数量、回购价格及调整说明 8 | | （三）本次回购注销的资金来源 9 | | 三、结论 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 3,240,624,091.42, representing a year-on-year increase of 2.04% compared to CNY 3,175,722,146.35 in Q1 2024[5] - The net profit attributable to shareholders for Q1 2025 was CNY 434,934,070.10, a 1.35% increase from CNY 429,124,709.66 in the same period last year[5] - The basic earnings per share for Q1 2025 was CNY 1.069, up 1.27% from CNY 1.056 in Q1 2024[5] - Operating profit for Q1 2025 was ¥518,164,874.08, up from ¥500,067,033.76 in Q1 2024, reflecting a growth of 3.1%[23] - The company reported a net profit margin improvement, with profit before tax at ¥513,401,768.33, compared to ¥500,065,482.56 in the previous year[23] - The net profit for Q1 2025 was CNY 435,108,496.60, a slight increase of 1.99% compared to CNY 429,255,744.17 in Q1 2024[25] - The basic and diluted earnings per share for Q1 2025 were both CNY 1.069, up from CNY 1.056 in Q1 2024, reflecting a growth of 1.23%[25] Cash Flow and Investments - The net cash flow from operating activities decreased by 9.05% to CNY 1,030,478,722.88 from CNY 1,132,964,225.39 in Q1 2024[5] - Cash flow from operating activities for Q1 2025 was CNY 1,030,478,722.88, down 9.02% from CNY 1,132,964,225.39 in Q1 2024[29] - Cash flow from investing activities showed a net outflow of CNY 216,944,412.17 in Q1 2025, compared to a smaller outflow of CNY 100,986,815.93 in Q1 2024[30] - Cash inflow from investment activities was CNY 84,306,443.08 in Q1 2025, down from CNY 305,785,176.07 in Q1 2024[30] - Cash flow from financing activities resulted in a net outflow of CNY 215,913,876.35 in Q1 2025, contrasting with a net inflow of CNY 293,088,157.96 in Q1 2024[30] Assets and Liabilities - Total assets at the end of Q1 2025 were CNY 18,075,562,084.89, reflecting a 2.33% increase from CNY 17,664,818,218.90 at the end of the previous year[5] - Current assets increased to ¥7,763,322,683.32 from ¥7,181,950,809.61, representing an increase of 8.1%[18] - Total liabilities decreased slightly to ¥7,087,167,854.79 from ¥7,122,251,673.36, a reduction of 0.49%[20] - The company's cash and cash equivalents rose to ¥1,843,456,848.35 from ¥1,618,026,888.46, marking an increase of 13.9%[18] - Total cash and cash equivalents at the end of Q1 2025 amounted to CNY 1,274,109,062.96, a decrease from CNY 1,854,504,023.19 at the end of Q1 2024[30] Shareholder Information - The company had a total of 19,246 common shareholders at the end of the reporting period[10] - The largest shareholder, Syngenta Group Co., Ltd., held 145,710,256 shares, accounting for 35.83% of the total shares[10] Research and Development - Research and development expenses for Q1 2025 were ¥78,799,984.11, compared to ¥75,288,585.24 in Q1 2024, reflecting a growth of 6.7%[23] Other Financial Metrics - Non-recurring gains and losses totaled CNY 4,631,786.68 for the period, after accounting for tax effects[8] - The equity attributable to shareholders increased by 4.23% to CNY 10,981,570,529.30 from CNY 10,535,931,053.30 at the end of the previous year[5] - The total equity attributable to shareholders increased to ¥10,981,570,529.30 from ¥10,535,931,053.30, an increase of 4.22%[20] - The weighted average return on equity decreased by 0.29 percentage points to 4.04% from 4.34% in the previous year[5] - The company reported a decrease in comprehensive income total to CNY 433,794,959.01 in Q1 2025, compared to CNY 438,419,313.59 in Q1 2024[25] - The total revenue from sales in Q1 2025 was CNY 3,069,084,108.32, a decrease of 3.55% from CNY 3,182,554,798.04 in Q1 2024[29] - The company received CNY 80,445,236.88 in tax refunds during Q1 2025, slightly down from CNY 81,066,572.36 in Q1 2024[29] - Inventory levels decreased to ¥1,022,591,627.19 from ¥1,104,865,027.32, a decline of 7.43%[18]

证券代码：600486 证券简称：扬农化工 编号：临 2025-016 江苏扬农化工股份有限公司 关于担保的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示 ● 被担保人名称：江苏优士化学有限公司、辽宁优创植物保护有限公司和 南通宝叶化工有限公司 ● 本次担保金额及已实际为其提供的担保余额： 公司拟为江苏优士和辽宁优创两家公司向银行申请的综合授信业务提供单 笔不超过4亿元、两家公司年度发生总额合计不超过10.17亿元，余额合计不超过 10.17亿元的保证担保，授权总经理签署与担保相关的文件，授权期限至2026年6 月30日。江苏优嘉为南通宝叶向银行申请的综合授信业务提供余额不超过3,000 万元的担保，在该余额范围内可循环使用，授权江苏优嘉总经理签署与担保相关 的文件，授权期限至2026年6月30日。 2024年末本公司为江苏优士化学有限公司担保的余额合计为25,000万元，江 苏优嘉植物保护有限公司为南通宝叶化工有限公司担保的余额为1,134.05万元。 ● 本次担保无反担保 ● 公司对外担保无逾期 ● 特 ...

江苏扬农化工股份有限公司 2024 年度环境、社会和公司治理报告 目录 | 关于本报告 | 01 | ESG 管理 | | --- | --- | --- | | 董事长致辞 | 04 | | | ESG 管理 | 10 | | --- | --- | | 专题："智能工厂 + 智慧 HSE" | 13 | | 驱动数智化发展新引擎 | | | 附录Ⅰ：关键量化绩效表 | 69 | | --- | --- | | 附录Ⅱ：报告指标索引 | 74 | | 附录Ⅲ：读者反馈表 | 75 | 推进绿色低碳发展 构建生态文明体系 | 环境合规管理 | 17 | | --- | --- | | 高效资源使用 | 19 | | 应对气候变化 | 23 | | 生物多样性保护 | 24 | 致力核心价值创造 秉持合作共赢理念 01 02 03 04 | 创新驱动 | 27 | | --- | --- | | 信息安全 | 29 | | 质量管理 | 30 | | 客户服务 | 32 | | 供应链安全 | 33 | | 产业协同 | 35 | 汇聚人才强企力量 积极履行社会责任 | 员工雇佣和发展 | 39 | | --- ...

证券代码：600486 证券简称：扬农化工 编号：临 2025-020 二、主要产品和原材料的价格变动情况 （一）主要产品价格变动情况 | | 2025 年 1-3 | 月 | 2024 年 | 1-3 月 | | | | --- | --- | --- | --- | --- | --- | --- | | | 平均销售价格 | | 平均销售价格 | | 价格变动情况 | | | | （万元/吨） | | （万元/吨） | | | | | 原药 | | 6.30 | | 6.91 | | -8.77% | | 制剂 | | 5.66 | | 5.75 | | -1.63% | （二）主要原材料价格波动情况 | | 2025 年 1-3 月 | 2024 年 1-3 月 | | | --- | --- | --- | --- | | | 平均采购价格 | 平均采购价格 | 价格变动情况 | | | （元/吨） | （元/吨） | | | 液碱 | 2,740 | 2,250 | 21.8% | | 液钾 | 2,770 | 3,025 | -8.4% | | 碳酸钾 | 5,960 | 6,257 | -4. ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 一、通知债权人的原由 证券代码：600486 证券简称：扬农化工 编号：临 2025-018 江苏扬农化工股份有限公司 关于回购注销部分限制性股票减少注册资 本暨通知债权人的公告 1、申报时间：自本公告之日起45日内（工作日 9:00-17:00） 2、债权申报登记地点：江苏省扬州市邗江区开发西路203号扬农大厦 江苏扬农化工股份有限公司证券事务部 江苏扬农化工股份有限公司（以下简称"公司"）于2025年4月26日召开第 八届董事会第二十六次会议和第八届监事会第十八次会议，审议通过《关于公司 2022年限制性股票激励计划第二个解除限售期解除限售条件未成就暨回购注销 部分限制性股票的议案》。鉴于公司2022年限制性股票激励计划第二个解除限售 期业绩考核目标未达到解除限售条件，公司董事会同意回购注销260名激励对象 第二个解除限售期不满足解除限售条件的限制性股票1,265,145股。 本次回购注销完成后，公司总股本预计将减少1,265,145股，公司注册资本 也相应减少1,265,1 ...

Group 1 - The company Yangnong Chemical (600486.SH) announced its Q1 2025 report, achieving operating revenue of 3.241 billion yuan, representing a year-on-year growth of 2.04% [1] - The net profit attributable to shareholders of the listed company was 435 million yuan, reflecting a year-on-year increase of 1.35% [1]

Investment Rating - The report maintains a "Buy" rating for specific companies in the chemical industry, particularly in the compound fertilizer and pesticide sectors, while recommending "Hold" for others [17]. Core Insights - The chemical industry is experiencing an optimization in supply and demand dynamics, leading to a recovery in the compound fertilizer, metal chromium, and niche pesticide markets. The report highlights investment opportunities in undervalued high-growth companies [3][4]. - The report emphasizes the positive performance of listed companies in Q1 2025, particularly in the compound fertilizer sector, and suggests focusing on companies like Xin Yang Feng, Stanley, and Yun Tu Holdings for investment opportunities [3][4]. - The report notes that metal chromium prices have surged to 75,000 CNY/ton, a week-on-week increase of 7,500 CNY/ton, driven by rising demand from the stainless steel sector and new military spending in Europe [3][4]. - The agricultural chemical market is entering its traditional peak season, with stable trading volumes for seasonal crop pesticides. Specific products like Acetochlor and Avermectin are seeing price increases, with recommendations for companies like Xian Da and Li Min [3][4]. Summary by Sections Industry Dynamics - Current macroeconomic conditions in the chemical sector indicate a stabilization in oil prices due to geopolitical factors and OPEC+ production increases, while coal prices are expected to decline in the medium term [4][6]. - The chemical industry PPI data shows a gradual recovery from negative values, with March 2025 PPI at -2.8% year-on-year, indicating a potential bottoming out of the cycle [6][8]. Fertilizer and Pesticide Sector - The report highlights that the domestic urea price is currently at 1,800 CNY/ton, with a slight week-on-week decline of 0.6%. The compound fertilizer sector is experiencing a decrease in operating rates, leading to increased inventory levels [10]. - The pesticide market is witnessing a seasonal peak, with stable trading volumes and price adjustments in various pesticide products, including a price increase for Pyrazole [10][19]. Chemical Products Pricing and Inventory Changes - The report provides detailed pricing data for various chemical products, indicating fluctuations in prices for PTA, MEG, and PVC, with specific attention to the impact of raw material costs and market demand [10][11][12]. - The report notes that the market for fluorinated chemicals is facing supply constraints due to mining restrictions, while the demand remains weak, leading to price adjustments [12][19]. Company Recommendations - The report recommends several companies for investment based on their growth potential and market positioning, including Yangnong Chemical, Runfeng Co., and Yun Tianhua in the fertilizer and pesticide sectors [17][18]. - Companies in the tire and fluorochemical sectors are also highlighted for their potential benefits from recovering domestic demand and cost reductions [3][17].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600486 证券简称：扬农化工 公告编号：临2025-013 江苏扬农化工股份有限公司 关于召开2024年度业绩暨现金分红说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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法律责任。 重要内容提示： 会议召开时间：2025年04月30日（星期三）15:00-17:00 会议召开地点：上海证券交易所上证路演中心（网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频直播和网络互动 投资者可于2025年04月23日（星期三）至04月29日（星期二）16:00前登录上证路演中心网站首页点 击"提问预征集"栏目或通过公司邮箱stockcom@yangnongchem.com进行提问。公司将在说明会上对投资 者普遍关注的问题进行回答。 江苏扬农化工股份有限公司（以下简称"公司"）已于2025年3月25日发布公司2024年年度报告，为便于 广大投资者更全面深入地了解公司2024年度经营成果、财务状况，公司计划于2025年04月30日（ ...

| 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 供销社 | 3.93 | 中国AI 50 | -2.09 | | 跨境支付(CIPS) | 3.65 | 人形机器人 | -1.59 | | 草甘膦 | 3.57 | 英伟达概念 | -1.48 | | 中韩自贸区 | 3.16 | 同花顺果指数 | -1.38 | | 自由贸易港 | 3.05 | 算力租赁 | -1.32 | | 统一大市场 | 2.74 | 液冷服务器 | -1.28 | | 数字货币 | 2.63 | 华为手机 | -1.22 | | 转基因 | 2.62 | AI手机 | -1.21 | | 信托概念 | 2.33 | MLOps概念 | -1.21 | | 电子身份证 | 2.04 | 太赫兹 | -1.21 | 资金面上看，今日草甘膦概念板块获主力资金净流入1.47亿元，其中，11股获主力资金净流入，7股主 力资金净流入超千万元，净流入资金居首的是中农联合，今日主力资金净流入7446.07万元，净流入资 金居前的还有利尔化学、润丰股份、ST红太阳等，主力资金 ...