证券代码：000553（200553） 证券简称：安道麦A(B) 公告编号：2025-38号 安道麦股份有限公司 1 1. 本次股东大会未出现否决议案的情形； 2. 本次股东大会未变更以往股东大会通过的决议。 1. 现场会议召开时间：2025 年 11 月 14 日 14:30 开始 2. 召开地点：北京市朝阳区朝阳公园南路 10 号院 7 号楼 6 层 3. 召开方式：现场表决与网络投票相结合 4. 召集人：公司董事会 5. 主持人：覃衡德 7. 会议的召集、召开符合《中华人民共和国公司法》（以下简称"《公司法》"）、《深 圳证券交易所股票上市规则》等法律、法规及《公司章程》的有关规定。 三、会议的出席情况 2025 年第二次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、重要提示 二、会议召开情况 6. 网络投票时间： 通过深圳证券交易所交易系统进行网络投票的具体时间为 2025 年 11 月 14 日上午 9:15-9:25 和 9:30-11:30，下午 13:00-15:00；通过深圳证券交易所互联网投票系统进 行网络投票的 ...

元 律师事务 的 北京市天元律师事务所 关于安道麦股份有限公司 2025 年第二次临时股东大会的法律意见 京天股字(2025)第 703 号 致:安道麦股份有限公司 安道麦股份有限公司(以下简称"公司")2025 年第二次临时股东大会(以下简 称"本次股东大会")采取现场投票与网络投票相结合的方式召开,其中现场会议于 2025 年 11 月 14 目在北京市朝阳区朝阳公园南路 10 号院 7 号楼 6 层召开。北京市 天元律师事务所(以下简称"本所")接受公司聘任,指派本所律师参加本次股东大 会现场会议,并根据《中华人民共和国公司法》《中华人民共和国证券法》(以下简 称"《证券法》")《上市公司股东会规则》(以下简称"《股东会规则》")以及《安 道麦股份有限公司章程》(以下简称"《公司章程》")等有关规定,就本次股东大会 的召集、召开程序、出席现场会议人员的资格、召集人资格、会议表决程序及表决 结果等事项出具本法律意见。 为出具本法律意见,本所律师审查了《安道麦股份有限公司第十届董事会第十 五次会议决议公告》《安道麦股份有限公司第十届监事会第七次会议决议公告》《安 道麦股份有限公司关于召开 2025 年第二次 ...

Group 1: Market Environment and Pricing Trends - The overall price turning point for pesticides has not yet been observed, with supply exceeding demand still a concern [2] - Some pesticide raw material prices, such as glyphosate, have seen slight increases, but these are not indicative of a sustained upward trend [2] - The pesticide raw material price index has started to recover, particularly for herbicides, but the majority of products remain at historically low prices [2] Group 2: Financial Performance and Management - Financial expenses increased by approximately 5% year-on-year in the first nine months of 2025, primarily due to interest payments on bonds and bank loans [3] - A one-time gain of $34 million from the revaluation of put options granted to minority shareholders in 2024 affected financial expenses [3] - The company generated positive cash flow in 2024 and 2025, which helped reduce debt and optimize financial expenses [3] Group 3: Operational Efficiency and Cost Management - The company has seen improvements in gross margin and profit data, although operating cash flow decreased by 3% [3] - Increased procurement to capture market recovery opportunities has impacted operating cash flow, despite maintaining positive cash flow [3] - The company is focused on continuous cost reduction and operational efficiency improvements as part of its "Advancement" transformation plan [4] Group 4: Strategic Responses to Market Conditions - The company supports the Chinese government's "anti-involution" policies, which aim to address oversupply issues in the agricultural protection industry [4] - The "Advancement" transformation plan is designed to enhance competitiveness and prepare for future growth opportunities in the agricultural protection market [4] - The company has implemented measures to optimize asset operations and will continue to assess asset performance against market standards [4] Group 5: Sales and Revenue Outlook - Sales volume increased by 3% year-on-year in the first nine months, but prices decreased by 3% [5] - The company is focused on rebuilding profitability and is preparing for future growth as market conditions improve [5] - Credit risk losses were recognized due to liquidity issues among local distributors in Brazil, prompting stricter approval processes for credit [5] Group 6: Inventory Management - Most regions have returned to pre-2020 inventory levels, but high inventory levels still affect sales in areas like Argentina and Paraguay [6] - The company does not anticipate a rapid replenishment cycle, as channel behavior has shifted towards just-in-time purchasing [7] - Inventory challenges from 2024 have been resolved, indicating a healthy adjustment in procurement practices among global channel customers [7]

ADAMA Agricultural Solutions Q3 & 9M 2025 FINANCIAL SUMMARY Legal Notice This presentation is for marketing and information purposes only. By this presentation, neither ADAMA Ltd. nor ADAMA Agricultural Solutions Ltd. (together the "Company" or "ADAMA") intend to give, and the presentation does not constitute, professional or business advice or an offer or recommendation to perform any transaction in the Company's securities. The accuracy, completeness and/or adequacy of the content of this presentation, as ...

Core Viewpoint - The A-share market shows a slight decline with the Shanghai Composite Index closing at 3997.56 points, down 0.25%, while the total trading volume reached 20202.05 billion yuan, indicating a mixed performance among stocks breaking through the annual line [1] Group 1: Stock Performance - A total of 52 A-shares have surpassed the annual line today, with notable stocks including Luzhou Laojiao, Qiaoyuan Co., and Jiachuan Vision, which have deviation rates of 6.56%, 5.10%, and 4.86% respectively [1] - Stocks with smaller deviation rates that have just crossed the annual line include Lubnorth Chemical, Phoenix Optical, and Wuzhou Special Paper [1] Group 2: Individual Stock Data - Luzhou Laojiao (000912) saw a price increase of 9.93% with a turnover rate of 2.87%, closing at 4.87 yuan, resulting in a deviation rate of 6.56% [1] - Qiaoyuan Co. (301286) increased by 14.19% with a turnover rate of 9.67%, closing at 30.66 yuan, with a deviation rate of 5.10% [1] - Jiachuan Vision (300264) rose by 5.38% with a turnover rate of 10.65%, closing at 6.27 yuan, leading to a deviation rate of 4.86% [1]

Core Viewpoint - The stock of Andermatt A has shown a slight increase in price and trading activity, indicating a stable market presence despite recent fluctuations in revenue and profit margins [1][2]. Financial Performance - For the period from January to September 2025, Andermatt A achieved a revenue of 21.678 billion yuan, reflecting a year-on-year growth of 0.72% [2]. - The company reported a net profit attributable to shareholders of -423 million yuan, which represents a significant year-on-year increase of 77% [2]. Stock Market Activity - As of November 7, Andermatt A's stock price rose by 2.13% to 6.70 yuan per share, with a total market capitalization of 15.610 billion yuan [1]. - The stock has experienced a year-to-date increase of 0.30%, a 5-day increase of 4.36%, a 20-day increase of 2.29%, and a 60-day decrease of 2.76% [1]. Shareholder Information - As of September 30, the number of shareholders for Andermatt A decreased by 3.69% to 36,200 [2]. - The average number of circulating shares per shareholder increased by 4.37% to 87,654 shares [2]. Dividend Distribution - Since its listing, Andermatt A has distributed a total of 9.64 billion yuan in dividends, with 62.905 million yuan distributed over the past three years [3]. Major Shareholders - As of September 30, 2025, Hong Kong Central Clearing Limited is the fourth largest circulating shareholder, holding 14.4147 million shares, a decrease of 3.8769 million shares from the previous period [3].

Company Overview - AnDuoMai A's stock price decreased by 2.00% on November 5, trading at 6.36 CNY per share with a total market capitalization of 14.818 billion CNY [1] - The company has experienced a year-to-date stock price decline of 4.79%, with a 5-day drop of 2.75%, a 20-day drop of 2.15%, and a 60-day drop of 7.96% [1] - AnDuoMai Co., Ltd. is located in Jingzhou, Hubei Province, established on March 27, 1998, and listed on December 3, 1993 [1] Business Segments - The company's main business involves the research, production, and sales of pesticide raw materials and intermediates [1] - Revenue composition includes herbicides (43.89%), insecticides (26.05%), fungicides (20.96%), and fine chemical products (non-agricultural) (9.10%) [1] - AnDuoMai A is categorized under the basic chemicals - agrochemical products - pesticides industry [1] Financial Performance - For the period from January to September 2025, AnDuoMai A reported operating revenue of 21.678 billion CNY, a year-on-year increase of 0.72% [1] - The net profit attributable to the parent company was -423 million CNY, showing a year-on-year increase of 77.00% [1] Shareholder Information - As of September 30, 2025, the number of shareholders for AnDuoMai A was 36,200, a decrease of 3.69% from the previous period [1] - The average number of circulating shares per shareholder was 87,654, an increase of 4.37% from the previous period [1] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, holding 14.4147 million shares, which is a decrease of 3.8769 million shares from the previous period [2] Dividend Information - AnDuoMai A has cumulatively distributed 9.64 billion CNY in dividends since its listing, with 62.9049 million CNY distributed over the past three years [2]

Core Viewpoint - As of October 31, 2025, the number of A-share shareholders for the company is projected to be 25,247 households [2] Company Summary - The company provided an update on its A-share shareholder count during an interaction with investors on November 4 [2]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected investment return that will outperform the market benchmark by over 15% in the next 6-12 months [6][14]. Core Views - The company reported a revenue of 21.678 billion yuan for the first three quarters of 2025, a year-on-year increase of 0.72%. The net profit attributable to shareholders was a loss of 423 million yuan, narrowing by 77% year-on-year [1]. - The agricultural chemical industry is experiencing a recovery, with the company expected to benefit from this trend due to its leading position in the global crop protection sector [3]. - The report projects a gradual improvement in profitability, with net profits expected to be -512 million yuan in 2025, followed by positive profits in 2026 and 2027 [3]. Summary by Sections Financial Performance - For Q3 2025, the company achieved a revenue of 6.654 billion yuan, a year-on-year increase of 0.62%, but a quarter-on-quarter decrease of 15.25%. The net profit attributable to shareholders was a loss of 342 million yuan, narrowing by 63.69% year-on-year but widening by 47.94% quarter-on-quarter [1]. - The gross margin improved by 4.0 percentage points to 26.2% in the first three quarters of 2025, driven by operational efficiency and reduced inventory costs [2]. Industry Outlook - The agricultural chemical industry is seeing a recovery in demand, with channel inventories returning to pre-2020 levels. The domestic pesticide raw material price index increased by 1.7% in Q3 2025 [3]. - The company is well-positioned to benefit from the recovery in agricultural chemical prices, with certain product prices stabilizing after previous declines [3]. Profitability Forecast - The report revises the profit forecast for 2025-2027, expecting net profits of -512 million yuan, 396 million yuan, and 703 million yuan respectively, reflecting a significant improvement in profitability over the forecast period [3][5].

Core Viewpoint - AnDuoMai A is a leading global non-patent pesticide company, focusing on the research, production, and sales of pesticide active ingredients and intermediates, with a rich product line and global market presence [1] Group 1: Business Performance - In Q3 2025, AnDuoMai A achieved a revenue of 21.678 billion yuan, ranking first among 32 companies in the industry, significantly surpassing the second-ranked Xin'an Chemical's 11.699 billion yuan [2] - The company's net profit for the same period was -0.423 billion yuan, placing it last in the industry, while the top performer, Yangnong Chemical, reported a net profit of 1.056 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, AnDuoMai A's debt-to-asset ratio was 63.04%, higher than the industry average of 46.06% [3] - The gross profit margin for the same period was 26.17%, exceeding the industry average of 21.70% [3] Group 3: Leadership and Shareholder Information - The chairman, Qin Hengde, has a rich background, currently serving as the CFO of Syngenta Group and has held various positions in the past [4] - As of September 30, 2025, the number of A-share shareholders decreased by 4.19% to 24,800, while the average number of circulating A-shares held per account increased by 4.37% to 87,700 [5]