安徽广信农化股份有限公司 2025 年第一次临时股东大会资料 603599 二〇二五年八月 安徽广信农化股份有限公司 2025 年第一次临时股东大会会议议程 ⚫ 现场会议时间：2025 年 9 月 4 日，下午 14:00 ⚫ 网络投票时间：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会召开当日的交易时间段，即 9:15- 9:25,9:30-11:30,13:00-15:00，通过互联网投票平台的投票时间为股 东会召开当日的 9:15-15:00 ⚫ 现场会议地点：广信股份总部大楼 3 楼会议室 ⚫ 参会人员：股东及股东代表、董事、监事、高级管理人员及公司聘请的 律师 ⚫ 会议议程： 一、主持人宣布会议开始 二、介绍参加会议的股东及股东代表、董事、监事、高级管理人员及律 师 三、审议会议议题 1、 审议《关于公司为全资子公司提供担保额度的议案》 2、 审议《关于取消监事会暨修订<公司章程>的议案》 3、 审议《关于修订部分公司治理制度的议案》 四、股东代表发言、公司领导回答股东提问 五、现场投票决议 六、宣读现场表决结果 七、休会、等待网络表决结果 八、宣读本次股东大会决议 九、宣 ...

广信股份 20250820 摘要 2025 上半年广信股份业绩同比下滑 17%，主因草甘膦价格波动、国际 油价下调及关税政策不确定性，其中草甘膦价格在 5 月中旬开始上涨， 但此前公司以每吨 2.3 万元的价格销售，导致亏损和开工率降低。 广信股份二三季度营业成本下降超 1.5 亿元，主要得益于上游原材料价 格下降，特别是石油价格波动带来的整体成本降低。若石油价格维持稳 定，公司有望维持较低的营业成本。 草甘膦自 6 月以来价格强势，已达每吨 2.6 万元左右。一季度全行业亏 损，但随着涨价，公司开工率有所恢复。若供需稳定且全球经济形势稳 定，预计草甘膦市场将保持强劲，但需警惕行业竞争和国际形势不确定 性。 广信股份二季度消耗草甘膦库存约 5,000 吨，剩余两三千吨。检修预计 9 月底完成，新工艺加快投放市场。通过国内采购稳定客户关系。 敌草隆生产企业国内较少，竞争格局集中，供应相对稳定，但面临安全 事故和政策变化风险。 广信股份盈利稳定，满负荷运行，每季度平均产量约 2,500 吨，毛利率 维持在 30%以上。国内市场主要由广信股份、新安股份和江苏快达主导。 广信股份主力原药产品出口占销售总额约 1/3， ...

证券之星消息，近日广信股份披露，截至2025年6月30日公司股东户数为1.53万户，较3月31日减少 3858.0户，减幅为20.11%。户均持股数量由上期的4.74万股增加至5.94万股，户均持股市值为63.37万 元。 在农化制品行业个股中，广信股份股东户数低于行业平均水平，截至6月30日，农化制品行业平均股东 户数为4.37万户。户均持股市值方面，农化制品行业A股上市公司户均持股市值为24.32万元，广信股份 高于行业平均水平。 从股价来看，2025年3月31日至2025年6月30日，广信股份区间跌幅为6.59%，在此期间股东户数减少 3858.0户，减幅为20.11%。 | | | 统计截止日 区间股价涨跌幅 股东户数 增减 增减比例 户均持股市值（元） | | | | 户均持股数(股) | | --- | --- | --- | --- | --- | --- | --- | | 2025-06-30 | -6.59% | 15326 -3858 | | -20.11% | 63.37万 | 5.94万 | | 2025-03-31 | -2.90% | 19184 | 928 | 5.08% | ...

Investment Rating - The report maintains a "Buy" rating for the company [4] Core Views - In the first half of 2025, the company achieved revenue of 1.89 billion RMB, a year-on-year decrease of 17.36%, and a net profit attributable to shareholders of 351 million RMB, down 14.95% year-on-year [2] - Sales expenses increased by 50.41% year-on-year to 35 million RMB, primarily due to higher port fees during the reporting period [3] - The company forecasts net profits for 2025-2027 to be 816 million RMB, 967 million RMB, and 1.084 billion RMB respectively, with corresponding EPS of 0.896 RMB, 1.062 RMB, and 1.191 RMB [4] Summary by Relevant Sections Financial Performance - In the first half of 2025, the company's main pesticide raw material production was 9,500 tons, with sales of 14,000 tons at a price of 30,320.14 RMB/ton, reflecting a price increase of 4.86% year-on-year [3] - The production of main pesticide intermediates was 219,000 tons, with sales of 247,100 tons at a price of 1,722 RMB/ton, showing a significant price drop of 48.44% year-on-year [3] Profit Forecast and Valuation - The projected net profits for the company from 2025 to 2027 are 816 million RMB, 967 million RMB, and 1.084 billion RMB, with corresponding P/E ratios of 11.88X, 10.03X, and 8.95X [4] - The report indicates a gradual recovery in revenue growth, with expected growth rates of 16.39%, 11.31%, and 8.21% for the years 2025, 2026, and 2027 respectively [9]

Investment Rating - The investment rating for the company is "Outperform" (maintained) [1] Core Views - The company's Q2 performance met expectations, with a continued recovery in industry sentiment [1] - The agricultural pesticide industry is experiencing a recovery, with inventory depletion largely completed and downstream demand gradually improving [5] - The company is leveraging its integrated supply chain advantages to maintain stable profitability despite challenges in raw material prices and sales volume [5] Financial Data and Profit Forecast - Total revenue for 2025H1 was 1,890 million yuan, with a year-on-year decline of 17.4% [4] - The net profit attributable to the parent company for 2025H1 was 351 million yuan, down 15% year-on-year [4] - The company forecasts net profits of 740 million yuan, 902 million yuan, and 1,067 million yuan for 2025, 2026, and 2027 respectively, with corresponding P/E ratios of 15, 12, and 10 [5][6] - The gross margin for Q2 was 30.92%, showing a year-on-year increase of 0.61 percentage points [5] Market Data - As of August 19, 2025, the closing price was 12.03 yuan, with a market capitalization of 10,951 million yuan [1] - The stock has a dividend yield of 2.24% based on the most recent dividend announcement [1] - The company’s price-to-book ratio is 1.1, indicating a reasonable valuation relative to its net assets [1]

Group 1: Macroeconomic Insights - In July, the growth rate of broad fiscal expenditure slowed to 12.1% from 17.6% in June, with an estimated year-on-year growth of 7.6% after excluding special bonds, which is still higher than the nominal GDP growth of 3.9% in Q2, indicating that fiscal easing supports nominal growth [2] - The broad fiscal deficit recorded 352.5 billion yuan, an increase of approximately 213.4 billion yuan year-on-year, highlighting the continued liquidity injection into the real economy through special bonds and capital injections [2] Group 2: Market Activity and Investment Trends - A-share market activity has rebounded, with trading volumes increasing and the number of active retail investors reaching a year-to-date high, indicating sustained interest from retail investors [3] - Private equity product registrations were high, with 666 new products registered in early August, a 6% increase from July, suggesting robust private investment activity [3] - Foreign and insurance capital are expected to be significant sources of incremental investment, with insurance capital's market entry ratio increasing in Q2 2025 [3] Group 3: Industry Developments - The State Administration of Radio and Television's new measures aim to enhance the supply of quality content for television, which is expected to boost viewership and commercial levels in the film and television industry [8] - The strategic importance of rare earths is highlighted, with expectations of price increases due to supply-demand imbalances in 2025-2026, driven by geopolitical factors and domestic policies [9] - The automation of warehousing through robotics is anticipated to transform the logistics industry, with a focus on enhancing efficiency and reducing costs [10] Group 4: Company-Specific Insights - China Everbright Bank has been rated as "Accumulate" with a target price of 4.62 HKD, benefiting from group resources and a strong non-interest income base [12] - Crystal International, a leading garment manufacturer, has been rated "Buy" with a target price of 7.38 HKD, supported by its global presence and strategic acquisitions [13] - Dingdong Maicai, a fresh e-commerce leader, has been rated "Accumulate" with a target price of 2.77 USD, focusing on product strength and market expansion [13] Group 5: Financial Performance Highlights - The financial performance of various companies shows promising growth, with notable increases in revenue and net profit across sectors such as energy, pharmaceuticals, and technology [18][20][22] - For instance, Longyuan Power reported a revenue of 156.57 billion yuan in H1 2025, with a net profit of 33.75 billion yuan, exceeding expectations due to favorable wind power pricing [21] - The performance of companies like Huazhong Medicine and Meihua Biological indicates stable growth and potential for future profitability, supported by innovative product pipelines and market demand [24][33]

Investment Rating - The investment rating for the company is maintained at "Buy" with a target price of RMB 13.30 [1][4][6] Core Views - The company reported a revenue of RMB 1.89 billion for H1 2025, a year-on-year decrease of 17%, and a net profit attributable to shareholders of RMB 350 million, down 15% year-on-year. The second quarter showed a revenue of RMB 910 million, a decrease of 15% year-on-year and 7.5% quarter-on-quarter, but a net profit increase of 1.4% year-on-year and 18% quarter-on-quarter [1] - The decline in pesticide prices due to insufficient demand and global economic slowdown has impacted the company's gross margin, which decreased by 0.5 percentage points to 30.7% in H1 2025 [2] - Recent price increases for key products like glyphosate suggest potential improvement in the agricultural chemical industry, driven by overseas demand and possible domestic supply reductions [3] Summary by Sections Financial Performance - H1 2025 revenue was RMB 1.89 billion, down 17% year-on-year, with a net profit of RMB 350 million, down 15% year-on-year. The company exceeded profit expectations due to improved cost control and profit structure optimization [1] - The gross margin for H1 2025 was 30.7%, reflecting a 0.5 percentage point decline year-on-year, attributed to increased market competition and falling pesticide prices [2] Market Outlook - As of August 19, 2025, prices for key products have shown signs of recovery, with glyphosate prices increasing by 8% since the end of June. This indicates a potential improvement in the agricultural chemical market [3] - The company expects future market conditions to improve as demand increases and supply constraints may arise [3] Profit Forecast and Valuation - The forecast for net profit attributable to shareholders for 2025, 2026, and 2027 is RMB 860 million, RMB 980 million, and RMB 1.11 billion respectively, representing year-on-year growth rates of 11%, 14%, and 13% [4] - The estimated EPS for the same years is projected to be RMB 0.95, RMB 1.08, and RMB 1.22, with a valuation based on a PE ratio of 14 times for 2025, leading to a target price of RMB 13.30 [4]

证券之星消息，广信股份2025年中报显示，公司主营收入18.9亿元，同比下降17.36%；归母净利润3.51 亿元，同比下降14.95%；扣非净利润2.89亿元，同比下降22.32%；其中2025年第二季度，公司单季度主 营收入9.08亿元，同比下降15.25%；单季度归母净利润1.9亿元，同比上升1.38%；单季度扣非净利润 1.63亿元，同比上升4.07%；负债率34.74%，投资收益2542.67万元，财务费用-1.1亿元，毛利率 30.69%。 财报数据概要请见下图: 财务健康 经营效率 安全边际 估值倍数 相对成长性 未来回报率 股高率 l 股东情况 一 十大流通股东 一 2023 2024 2025 ■ 营业总收入-中报(亿) ■ 单季度营业总收入-第二季度(亿) 一 归母净利润 一 归母净利润-中报(亿) 3.51 同比 -14.94% 单季度归母净利润-第二季度(亿) 1.90 同比 +1.37% 10.22 5.01 4.12 3.5 1.89 1.87 2023 2024 2025 ■ 单季度归母净利润-第二季度(亿) ■ 归母净利润-中报(亿) 一 扣非净利润 一 扣非净利润-中报(亿) ...

安徽广信农化股份有限公司 募集资金管理制度 安徽广信农化股份有限公司 募集资金管理制度 （2025 年修订） 第一章 总则 第一条 为规范安徽广信农化股份有限公司（以下简称"公司"）募集资金管 理，提高募集资金使用效率，保护投资者的合法权益，根据《中华人民共和国公 司法》《中华人民共和国证券法》《上海证券交易所股票上市规则》《上市公司证 券发行注册管理办法》《上市公司监管指引第 2 号—上市公司募集资金管理和使 用的监管要求》《上海证券交易所上市公司自律监管指引第 1 号—规范运作》等 法律、法规、规范性文件以及《安徽广信农化股份有限公司章程》（以下简称《公 司章程》）等规定，结合公司实际，制定本制度。 第二条 本制度所称募集资金系指公司通过发行股票或者其他具有股权性质 的证券，向投资者募集并用于特定用途的资金，但不包括公司实施股权激励计划 募集的资金监管。 第三条 公司募集资金应当专款专用。公司使用募集资金应当符合国家产业 政策和相关法律法规，践行可持续发展理念，履行社会责任，原则上应当用于主 营业务，有利于增强公司竞争能力和创新能力。除金融类企业外，募集资金不得 用于持有财务性投资，不得直接或者间接投资于 ...

安徽广信农化股份有限公司 董事会议事规则 安徽广信农化股份有限公司 董事会议事规则 专门委员会成员全部由董事组成。 （2025 年修订） 专门委员会的组成、职责和权限、工作机制、决策程序等，由董事会另行制 定专门委员会议事规则予以明确规定。 第一章 总则 公司实行独立董事制度，独立董事的相关制度由董事会另行制定规则予以明 确。 第一条 为进一步明确安徽广信农化股份有限公司（以下简称"公司"）董 事会的职责权限，规范董事会的议事方式和决策程序，确保公司董事会及董事忠 实、高效地履行职责，提高董事会的科学决策水平，维护公司及股东的合法权益， 公司根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共 和国证券法》、《上市公司治理准则》、《上市公司章程指引》、《上海证券交易所股 票上市规则》（以下简称"《上交所上市规则》"）、《上海证券交易所上市公司自律 监管指引第 1 号——规范运作》等有关法律、法规、规范性文件以及《安徽广信 农化股份有限公司章程》（以下简称"公司章程"）的规定，并结合公司的实际 情况制定本议事规则。 第五条 董事会下设董事会办公室，处理董事会日常事务。 第二条 公司设董事会，对股 ...