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]

Core Viewpoint - The company reported a slight increase in revenue for the first three quarters of 2025, but also faced significant net losses [1] Financial Performance - The company achieved an operating revenue of 21.678 billion yuan, representing a year-on-year increase of 0.72% [1] - The net loss attributable to shareholders was 423 million yuan [1] - The net loss attributable to shareholders, excluding non-recurring gains and losses, was 522 million yuan [1] - The basic loss per share was 0.1815 yuan [1]

Core Viewpoint - On October 29, the company announced that it and its controlling subsidiaries have no overdue guarantees and have not provided guarantees to entities outside of the consolidated financial statements [1] Group 1 - The company confirmed that there are no overdue guarantees [1] - The company and its controlling subsidiaries have not provided guarantees to any entities outside of the consolidated financial statements [1]

安道麦股份有限公司 董事会议事规则 二 O 二五年十月修订 | | | 安道麦股份有限公司董事会议事规则 第一章 总 则 第一条 为规范安道麦股份有限公司(以下简称公司)董事会及其成员的行为，明确公司 董事会的职责权限，充分发挥董事会的经营决策作用，并保证董事会决策行为的合法化、规 范化、科学化、民主化，适应建立现代企业制度的需要，特制定本规则。 第二条 本规则根据《中华人民共和国公司法》（下称《公司法》）、中国证监会发布的《上 市公司治理准则》（下称《治理准则》）、《深圳证券交易所上市公司自律监管指引第 1 号—主 板上市公司规范运作》、《深圳证券交易所股票上市规则》和《安道麦股份有限公司章程》（下 称《公司章程》）制定。 第三条 公司董事会及其成员应当遵守《公司法》及其他法律、行政法规、部门规章、 《公司章程》和本规则的规定，对公司负有忠实义务和勤勉义务。 第二章 董事会的组成和职权 第四条 董事会行使下列职权： （一）召集股东会，并向股东会报告工作； （二）执行股东会的决议； （三）决定公司的经营计划和投资方案； （四）制订公司的利润分配方案和弥补亏损方案； （五）制订公司增加或者减少注册资本、发行债券 ...

安道麦股份有限公司 董事会薪酬与考核委员会实施细则 第一章 总则 第一条 为进一步建立健全安道麦股份有限公司（以下简称"公司"）董事及高 级管理人员的考核和薪酬管理制度，完善公司治理结构，根据《中华人民共和国公 司法》、《上市公司治理准则》、《安道麦股份有限公司章程》（以下简称《公司章程》） 及其他有关规定，公司设立董事会薪酬与考核委员会(以下简称"薪酬委")，并制 定本细则。 第二条 薪酬委是董事会设立的专门工作机构，主要负责制定公司董事及高级管 理人员的考核标准并进行考核；负责制定、审查公司董事及高管人员的薪酬政策与 方案，对董事会负责。 第三条 未在公司领取薪酬的董事不在本细则的考核范围内。 第四条 本细则所称高级管理人员是指董事会聘任的总裁兼首席执行官、首席财 务官和董事会秘书。 第二章 人员组成 第五条 薪酬委成员由四名董事组成，其中包括三名独立董事。 第六条 薪酬委委员由董事长、二分之一以上独立董事或者全体董事的三分之一 提名，并由董事会选举产生。 第七条 薪酬委设主任委员(召集人)一名，由独立董事委员担任，负责主持委员 会工作；主任委员由董事会选举产生。 第八条 薪酬委任期与同届董事会任期一致， ...

安道麦股份有限公司 董事会审计委员会实施细则 第二章 人员组成 第三条 审计委员会成员由四名不在公司担任高级管理人员的董事组成，其中 独立董事三名,并且至少有一名独立董事为会计专业人士。 第四条 审计委员会委员由董事长、二分之一以上独立董事或者全体董事的三 分之一以上提名，并由董事会选举产生。 第五条 审计委员会设主任委员(召集人)一名，由独立董事委员中的会计专业 人士担任，负责主持委员会工作；主任委员由董事会选举产生。 第六条 审计委员会委员的任期与董事会成员的任期一致。委员任届期满，连 选可以连任。期间如有委员不再担任公司董事职务，自动失去委员资格，并由委 员会根据上述第三至第五条规定补足委员人数。 第七条 公司财务部、内部审计部为审计委员会提供专业支持，证券法务部协 助审计委员会开展日常工作，负责日常工作联络和会议组织等工作。 第三章 职责权限 第八条 审委员会的主要职责权限： 第一章 总则 第一条 根据《中华人民共和国公司法》（以下简称《公司法》）、《上市公司治 理准则》、《安道麦股份有限公司章程》（以下简称《公司章程》）及其他有关规定， 安道麦股份有限公司（以下简称"公司"）设立董事会审计委员会，并 ...

安道麦股份有限公司 股东会议事规则 二 O 二五年十月 （修订） | 1 | | | --- | --- | | | > - A | | 第一节 | 一般规定 12 | | | --- | --- | --- | | 第二节 | 会议主持人 12 | | | 第三节 | 会议提案的审议 12 | | | 第四节 | 会议表决 13 | | | 第五节 | 会议决议 17 | | | 第六节 | 股东发言 18 | | | 第七节 | 休会 18 | | | 第八节 | 股东会会议记录及签署 19 | | | 第十一章 | 附则 | 20 | 安道麦股份有限公司股东会议事规则 第一章 总 则 第一条 为规范安道麦股份有限公司（以下简称"公司"）的行为，保证公 司股东会(以下简称"股东会"或"会议")依法行使职权，依据《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》（以下简称《证 券法》）、《深圳证券交易所股票上市规则》（以下简称《上市规则》）、《上 市公司治理准则》、《上市公司股东会规则》、《深圳证券交易所上市公司自律 监管指引第 1 号——主板上市公司规范运作》、其他法律、行政法规和 ...