证券代码：600731 证券简称：湖南海利 公告编号：2025-066 湖南海利化工股份有限公司 关于召开2025年第二次临时股东大会的通知 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： 一、 召开会议的基本情况 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 12 月 22 日 9 点 30 分 召开地点：长沙市芙蓉中路二段 251 号湖南海利第 1 办公楼 6 楼会议室 股东大会召开日期：2025年12月22日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (一)股东大会类型和届次 2025年第二次临时股东大会 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 12 月 22 日 至2025-12-22 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会 ...

证券代码：600731 证券简称：湖南海利 公告编号： 2025－062 审议通过了《关于续聘会计师事务所及确定 2025 年度会计师事务所报酬 的议案》。 表决情况：同意 3 票；弃权 0 票；反对 0 票。 具体内容详见《湖南海利化工股份有限公司关于续聘会计师事务所的公告》 （公告编号：2025-063） 本议案尚需提交公司 2025 年第二次临时股东大会审议。 特此公告。 湖南海利化工股份有限公司 第十届十九次监事会决议公告 本公司监事会及全体监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、监事会会议召开情况 湖南海利化工股份有限公司第十届十九次监事会会议于 2025 年 11 月 28 日 以书面、传真和电子邮件的方式发出会议通知，于 2025 年 12 月 5 日下午采用通 讯和现场表决方式召开，会议应到监事 3 人，实到监事 3 人，会议由监事会主席 李一辉先生主持。会议的召集、召开和表决程序符合《公司法》和《公司章程》 的规定。 二、监事会会议审议情况 与会监事经认真讨论并以记名投票方式表决，审议通过以下议案： 湖南海利化工股 ...

（一）审议通过了《关于变更公司经营范围的议案》： 一、董事会会议召开情况 湖南海利化工股份有限公司第十届二十六次董事会会议于 2025 年 11 月 28 日以书面、传真和电子邮件的方式发出会议通知，于 2025 年 12 月 5 日下午在长 沙市公司本部采用现场表决方式召开，会议应到董事 9 人，实到董事 9 人。会议 由肖志勇先生主持，会议的召集、召开和表决程序符合《公司法》和《公司章程》 的规定。 二、董事会会议审议情况 证券代码：600731 证券简称：湖南海利 公告编号：2025－061 湖南海利化工股份有限公司 第十届二十六次董事会决议公告 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。 表决情况：同意 9 票，弃权 0 票，反对 0 票。 公司根据实际经营情况和监管要求，拟对原经营范围进行调整，具体内容详 见公司于同日在上海证券交易所网站（www.sse.com.cn）披露的《湖南海利关于 不设监事会并修订《公司章程》及部分公司治理制度的公告》。 公司董事会提请股东大会授权公司总经理指定相关人员办理后续登记备案 ...

Market Overview - The agricultural chemical sector experienced a decline of 5.39% on November 21, with Chengxing Co. leading the drop [1] - The Shanghai Composite Index closed at 3834.89, down 2.45%, while the Shenzhen Component Index closed at 12538.07, down 3.41% [1] Individual Stock Performance - Chengxing Co. (600078) closed at 11.42, down 10.01% with a trading volume of 815,900 shares [1] - Lianhua Technology (002250) closed at 11.84, down 9.96% with a trading volume of 846,200 shares [1] - Bluefeng Biochemical (002513) closed at 8.05, down 9.96% with a trading volume of 438,000 shares [1] - Liuguo Chemical (600470) closed at 6.09, down 9.78% with a trading volume of 362,100 shares [1] - Chuanjinno (300505) closed at 21.57, down 8.33% with a trading volume of 246,600 shares [1] - Hebang Bio (603077) closed at 2.13, down 7.79% with a trading volume of 3,585,900 shares [1] - Chuanheng Co. (002895) closed at 34.45, down 7.64% with a trading volume of 216,400 shares [1] - Hongda Co. (600331) closed at 11.05, down 7.61% with a trading volume of 1,041,300 shares [1] - Yantu Holdings (002539) closed at 11.03, down 7.47% with a trading volume of 475,800 shares [1] - Salt Lake Co. (000792) closed at 26.04, down 7.20% with a trading volume of 2,051,800 shares [1] Capital Flow Analysis - The agricultural chemical sector saw a net outflow of 1.435 billion yuan from institutional investors, while retail investors had a net inflow of 1.383 billion yuan [1] - The table of capital flow for individual stocks indicates varying levels of net inflow and outflow among different companies [2] Individual Stock Capital Flow - Hongda Co. (600331) had a net inflow of 56.76 million yuan from institutional investors, but a net outflow from retail investors [2] - Guangxin Co. (603599) saw a net inflow of 27.20 million yuan from institutional investors, with a net outflow from retail investors [2] - Zhongqi Co. (300575) had a net inflow of 18.06 million yuan from institutional investors, with a net outflow from retail investors [2] - Andamite A (000553) experienced a net inflow of 15.01 million yuan from institutional investors, but a significant net outflow from retail investors [2] - Sichuan Meifeng (000731) had a net inflow of 13.36 million yuan from institutional investors, with a net outflow from retail investors [2]

Core Points - The company completed the initial grant registration of its 2025 restricted stock incentive plan on November 18, 2025, with a total of 16.3 million shares granted to 223 individuals at a price of 3.27 yuan per share [2][4][11]. Grant Details - The initial grant date was October 23, 2025, with the total number of shares granted representing 2.92% of the company's total share capital of 558.74 million shares [2][11]. - The stock was sourced from shares repurchased from the secondary market, ensuring that the total share capital of the company remains unchanged [11]. - The number of individuals receiving grants was adjusted from 224 to 223 due to personal reasons affecting two individuals, resulting in a reduction of 80,000 shares [2][3]. Vesting and Conditions - The effective period of the incentive plan lasts up to 72 months from the completion of the initial grant registration [5]. - The lock-up period for the granted shares is set at 24, 36, and 48 months, with specific conditions for lifting the restrictions based on company and individual performance [6][9]. - The lifting of restrictions is contingent upon meeting certain performance criteria and compliance with regulatory requirements [7][8]. Financial Impact - The total estimated cost of the stock incentive plan is approximately 68.297 million yuan, which will be amortized over the vesting period [15][16]. - The company anticipates that the incentive plan will enhance management motivation and operational efficiency, leading to a net positive impact on performance despite the associated costs [16]. Use of Proceeds - Funds raised from the stock grants will be used to supplement the company's working capital [12].

证券日报网讯11月20日晚间，湖南海利（600731）发布公告称，公司于2025年11月18日完成了2025年限 制性股票激励计划首次授予登记工作。 ...

证券代码：600731 证券简称：湖南海利 公告编号：2025-060 湖南海利化工股份有限公司 2025 年限制性股票激励计划首次授予结果公告 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： 湖南海利化工股份有限公司（以下简称"公司"）于 2025 年 11 月 18 日完 成了 2025 年限制性股票激励计划首次授予登记工作，根据《上市公司股权激励 管理办法》等相关规则的规定，现将具体情况公告如下： 一、限制性股票授予情况 （一）基本情况 1、首次授予日：2025 年 10 月 23 日； 2、首次授予数量：1,630.00 万股，占公司股本总额 55,874.2416 万股的 2.92%； 3、首次授予人数：223 人； 4、首次授予价格：3.27 元/股； 5、股票来源：公司从二级市场回购的公司 A 股普通股股票； ●限制性股票登记日：2025 年 11 月 18 日 ●限制性股票登记数量：1,630.00 万股 ●授予登记人数：223 人 6、实际授予数量与拟授予数量的差异说明：在资金缴纳过程中，有 ...

Core Insights - The company reported a revenue of 1.479 billion yuan for the first three quarters of 2025, a year-on-year decline of 13.36% [1] - Net profit attributable to shareholders was 198 million yuan, a slight decrease of 1.24% year-on-year, while the net profit after deducting non-recurring items was 151 million yuan, down 18.4% year-on-year [1] Group 1: Financial Performance - In Q3 alone, the company achieved a revenue of 513 million yuan, a year-on-year decline of 22.99%, with net profit down 45.02% and net profit after deducting non-recurring items down 39.76% [2] - The average price of the company's pesticide products was approximately 95,000 yuan per ton, showing a slight increase of 0.11% year-on-year [2] Group 2: Strategic Developments - The company successfully advanced its first-ever equity incentive plan, having repurchased approximately 16.76 million shares, accounting for 3% of the total share capital, with the buyback completed at prices between 6.87 yuan and 7.53 yuan per share [2] - The company needs to achieve a net profit after deducting non-recurring items of at least 263 million yuan in 2025 to meet the equity incentive assessment criteria, currently falling short by over 110 million yuan [2] Group 3: Market Opportunities - The demand for pest control due to vector-borne diseases has significantly increased, with expectations for higher demand for the company's key products, such as甲嘧 and 残杀威, driven by rising temperatures and related disease outbreaks [3] - The company is accelerating the registration of pesticide products domestically and internationally, with successful expansions in product registration for甲嘧 in the first half of the year [3] - The lithium battery cathode business is expected to benefit from technological advancements and market recovery, with existing capacity of 5,000 tons and plans for expansion to 16,000 tons [3] Group 4: Investment Outlook - Revenue projections for 2025-2027 are estimated at 2.7 billion, 3.6 billion, and 4.3 billion yuan respectively, with net profits of 300 million, 390 million, and 500 million yuan, reflecting year-on-year growth rates of 11.9%, 32.2%, and 27.4% [4] - The company is assigned a target price of 10.5 yuan per share based on a 15x PE ratio for 2026, maintaining a "strong buy" rating due to favorable growth prospects in its pesticide and new materials businesses [4]

Investment Rating - The report maintains a "Strong Buy" rating for Hunan Haili, with a target price of 10.5 CNY per share [2][8]. Core Views - The company's performance in the first three quarters of 2025 was slightly weaker than expected, with total revenue of 1.479 billion CNY, a year-on-year decrease of 13.36%. The net profit attributable to shareholders was 198 million CNY, a slight decline of 1.24% year-on-year [2][8]. - The company successfully advanced its first stock incentive plan, completing the repurchase of approximately 16.76 million shares, accounting for 3% of the total share capital, at a price range of 6.87 CNY to 7.53 CNY per share [8]. - The demand for pest control due to vector-borne diseases is increasing, with optimistic prospects for key products like "Killing Agent" and "Qiazi" [8]. - The lithium battery cathode business is expected to benefit from technological advancements and market recovery, with a current capacity of 5,000 tons and plans to expand to 16,000 tons [8]. - The report forecasts revenue for 2025-2027 to be 2.7 billion CNY, 3.6 billion CNY, and 4.3 billion CNY respectively, with net profits of 300 million CNY, 390 million CNY, and 500 million CNY, reflecting year-on-year growth rates of 11.9%, 32.2%, and 27.4% respectively [8]. Financial Summary - Total revenue for 2024A is projected at 2.471 billion CNY, with a year-on-year growth rate of 4.1%. For 2025E, revenue is expected to reach 2.67 billion CNY, with an 8.1% growth rate [4][9]. - The net profit attributable to the parent company is forecasted to be 265 million CNY in 2024A, increasing to 297 million CNY in 2025E, reflecting a growth rate of -3.1% and 11.9% respectively [4][9]. - Earnings per share (EPS) are projected to be 0.47 CNY for 2024A, increasing to 0.53 CNY for 2025E [4][9].

Core Viewpoint - The 26th Central (Hunan) Agricultural Expo has introduced a new agricultural input section, showcasing Hunan's innovations in the green pesticide sector through the participation of eight key pesticide production companies [1][2] Group 1: Event Overview - The expo took place from November 14 to 17, featuring a dedicated agricultural input section for the first time [1] - The Hunan Pesticide Association organized the participation of eight major pesticide companies, including Hunan Haili and Lier Chemical, to highlight the province's advancements in green pesticides [1] Group 2: Participating Companies - The participating companies represent critical segments of the pesticide industry chain, including raw material giants like Hunan Haili, which has established the world's largest carbamate pesticide production base [1] - Other notable companies include Lier Chemical, recognized for its achievements in formulation, along with Haohua Chemical, Nongda Haite Agricultural Chemicals, Shenlong Technology, Dafang Agricultural Chemicals, Wanjiafeng Technology, and Zefeng Agricultural Chemicals, forming a comprehensive industry display matrix [1] Group 3: Innovations and Impact - The companies showcased their latest achievements in green pesticide research and development, precision application technology, integrated pest management solutions, and environmentally friendly formulation products [1] - Representatives from participating companies expressed that the expo provided significant exposure for their green products, enhancing brand influence and facilitating precise connections with upstream and downstream resources [1] Group 4: Future Directions - The Hunan Pesticide Association aims to continue serving as a bridge for the industry, promoting a focus on green technology research and driving the transformation of Hunan's pesticide industry towards efficiency, safety, and environmental sustainability [2]