证券代码：000553（200553） 证券简称：安道麦A(B) 公告编号：2025-31号 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 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。 安道麦股份有限公司（以下简称"公司"或"本公司"）第十届董事会第十 五次会议于 2025 年 10 月 24 日通过电子邮件方式通知了所有董事，并于 2025 年 10 月 28 日以视频及现场会议方式召开。本次会议应当出席董事 6 人，实际 出席董事 6 人。 本次会议的召开符合有关法律、行政法规、部门规章、规范性法律文件和公 司章程的规定。出席会议的董事审议并通过如下议案： 1. 关于《2025 年第三季度报告》的议案 会议以 6 票同意，0 票反对，0 票弃权的表决结果审议通过了本议案。 本议案已经公司董事会审计委员会审议通过。 2. 关于修订公司章程及其附件的议案 根据 《中华人民共和国公司法 （2023 修订）》《上市公司章程指引（2025）》 《上市公司股东会规则》等相关规定， 公司拟对《安道麦股份有限公司章程》 及其附件《安道麦股份有限公司股东大会议事规 ...

Financial Performance - The company's revenue for Q3 2025 was 6,654,225 thousand RMB, representing a 0.62% increase compared to the same period last year[13]. - The net loss attributable to shareholders for Q3 2025 was (342,454) thousand RMB, a 63.69% improvement year-over-year[13]. - The EBITDA for Q3 2025 was 741,865 thousand RMB, reflecting an 87.42% increase compared to the same period last year[13]. - Q3 2025 revenue was $933 million, showing a year-over-year change of 0%, while revenue for the first nine months was $3.025 billion, reflecting a year-over-year decrease of 0%[14]. - Operating revenue for the current period reached ¥21,678,425, an increase of 0.72% compared to ¥21,523,293 in the previous period[31]. - Operating loss decreased to ¥(436,660), improving from a loss of ¥(1,492,552) in the previous period[31]. - Net loss for the current period was ¥(422,806), significantly reduced from ¥(1,838,112) in the previous period, marking an improvement of approximately 77%[31]. - The total comprehensive loss for the current period was ¥(456,414), compared to ¥(2,067,869) in the previous period, indicating a significant reduction in losses[31]. - Basic earnings per share improved to ¥(0.1815) from ¥(0.7890) in the previous period[31]. Cash Flow and Expenses - The operating cash flow for the first nine months of 2025 was 2,373,860 thousand RMB, down 17.06% compared to the previous year[6]. - Financial expenses for the first nine months of 2025 totaled RMB 1.544 billion ($215 million), up from RMB 1.22 billion ($172 million) in the same period of 2024[20]. - Total financial expenses net for the first nine months of 2025 was RMB 1.54 billion ($215 million), compared to RMB 1.456 billion ($205 million) in 2024, reflecting an increase due to a one-time gain in the previous year[21]. - Cash flow from operating activities generated a net amount of ¥2,373,860, down from ¥2,862,232 in the previous period[32]. - Cash flow from investing activities resulted in a net outflow of ¥(942,083), compared to a net outflow of ¥(866,420) in the previous period[33]. - Cash flow from financing activities showed a net outflow of ¥(1,408,310), improving from a net outflow of ¥(2,703,059) in the previous period[33]. Assets and Liabilities - The total assets at the end of Q3 2025 were 49,930,633 thousand RMB, a decrease of 0.26% from the end of the previous year[6]. - As of September 30, 2025, total current assets amount to 26,262,900 thousand RMB, compared to 25,917,390 thousand RMB at the end of 2024[30]. - Total current liabilities increased to 20,468,589 thousand RMB from 18,013,457 thousand RMB year-over-year[30]. - Non-current assets total 23,667,733 thousand RMB, down from 24,142,387 thousand RMB at the end of 2024[30]. - Total liabilities amount to 31,477,288 thousand RMB, compared to 31,068,683 thousand RMB at the end of 2024[30]. - The company's equity attributable to shareholders is 18,453,345 thousand RMB, down from 18,991,094 thousand RMB at the end of 2024[30]. - Short-term borrowings increased by 34.65% to RMB 6.394 billion ($910 million) due to debt replacement[24]. - Long-term borrowings decreased by 33.40% to RMB 1.443 billion ($204 million) as a result of partial debt repayment[24]. Shareholder Information - Total number of common shareholders at the end of the reporting period is 36,215, including 24,837 A-share shareholders and 11,378 B-share shareholders[27]. - The largest shareholder, Syngenta Group Co., Ltd., holds 78.47% of the shares, totaling 1,828,137,961 shares[27]. - The company has no significant changes in the shareholding structure of the top 10 shareholders compared to the previous period[27]. Market Environment - The company noted that geopolitical tensions have not significantly impacted its supply capabilities or financial performance[11]. - The overall market environment remains challenging, with pricing pressures due to oversupply of raw materials affecting demand[10]. - The Asia-Pacific region saw a significant decline in Q3 2025 sales, down 16% to $225 million, with China specifically dropping 17% to $91 million[15]. - In Q3 2025, North America sales increased by 4% to $164 million, while sales for the first nine months rose by 15% to $659 million[15]. Operational Efficiency - The company reported a gross profit margin improvement, with operating costs decreasing by 5.67% in Q3 2025 compared to Q3 2024[13]. - Gross profit and gross margin improved year-over-year in Q3 2025 due to enhanced operational efficiency and reduced inventory costs, despite the negative impact of price declines[18]. - Operating expenses slightly decreased in Q3 2025, primarily due to the absence of one-time litigation costs from the previous year, although restructuring and consulting expenses increased[19]. - Research and development expenses for the first nine months of 2025 were 307,417 thousand RMB, a decrease of 3.93% year-over-year[12]. Financial Instruments - The company reported a significant decrease in derivative financial assets by 30.81% year-over-year, primarily due to the disposal and revaluation of derivatives[24]. Audit Information - The company did not undergo an audit for the third quarter report[34].

Core Viewpoint - The report highlights the growth trends in China's chemical pesticide raw material production, indicating a positive outlook for the industry from 2025 to 2031, with specific data on production volumes and growth rates [1]. Industry Summary - In August 2025, China's chemical pesticide raw material production reached 304,000 tons, marking a year-on-year increase of 3.8% [1]. - From January to August 2025, the cumulative production of chemical pesticide raw materials was 2.782 million tons, reflecting a cumulative growth of 7.2% [1]. - The report provides a comprehensive analysis of the pesticide industry, including market research and strategic insights for the period from 2025 to 2031 [1]. Company Summary - Listed companies in the pesticide sector include Yangnong Chemical (600486), Adama Agricultural Solutions A (000553), Xianda Co., Ltd. (603086), ST Hongtai (000525), Noposion (002215), Lier Chemical (002258), Runfeng Co., Ltd. (301035), and Xin'an Chemical (600596) [1].

Core Insights - The fungicide industry is experiencing rapid growth in China, driven by increasing public health awareness and environmental policies, with the market size projected to grow from 23.67 billion yuan in 2019 to 40.5 billion yuan by 2024, representing a compound annual growth rate (CAGR) of 11.34% [2][10] - The demand for environmentally friendly and biological fungicides is expected to rise significantly, particularly in the agricultural sector, which is the primary consumer market for fungicides [2][10] Industry Overview - Fungicides, also known as biocides, are chemical agents that effectively control or kill microorganisms such as bacteria, fungi, and algae [3] - The classification of fungicides can be based on application fields (industrial and agricultural), raw materials (inorganic, organic sulfur, organic phosphorus, etc.), usage methods (protective and therapeutic), and conduction characteristics (systemic and non-systemic) [3][8] Industry Policies - The Chinese fungicide industry is at a critical juncture influenced by policy changes and market transformations, with recent regulations aimed at promoting green and efficient fungicide production [5][7] - Key policies include the restriction of high-toxicity and high-residue pesticide production, as outlined in the "Industrial Structure Adjustment Guidance Catalog (2024 Edition)" [5][7] Industry Chain - The fungicide industry chain consists of upstream raw materials and production equipment, midstream research and manufacturing, and downstream applications in agriculture, forestry protection, urban greening, industrial corrosion prevention, and medical disinfection [8][10] Current Market Status - The global fungicide market is steadily expanding, with a projected market size of 19.704 billion USD in 2024, reflecting a year-on-year growth of 3.15% [10] - The growth is driven by the need for agricultural yield enhancement, public health protection, and food safety assurance, with expectations for the market to reach 22.942 billion USD by 2028 [10]

Core Viewpoint - The stock of Andermatt A has shown a slight increase of 2.02% on October 15, 2023, with a current price of 6.56 CNY per share, despite a year-to-date decline of 1.80% [1] Group 1: Stock Performance - As of October 15, 2023, Andermatt A's stock price is 6.56 CNY, with a trading volume of 10.25 million CNY and a turnover rate of 0.07%, resulting in a total market capitalization of 15.284 billion CNY [1] - Year-to-date, the stock has decreased by 1.80%, with a 5-day increase of 0.92%, a 20-day decline of 6.15%, and a 60-day decline of 5.20% [1] Group 2: Company Overview - Andermatt A, established on March 27, 1998, and listed on December 3, 1993, is located at 93 Beijing East Road, Jingzhou, Hubei Province [1] - The company's main business involves the research, production, and sales of pesticide raw materials and intermediates, with revenue composition as follows: herbicides 43.89%, insecticides 26.05%, fungicides 20.96%, and fine chemical products (non-agricultural) 9.10% [1] Group 3: Financial Performance - For the first half of 2025, Andermatt A reported operating revenue of 15.024 billion CNY, reflecting a year-on-year growth of 0.76%, while the net profit attributable to shareholders was -803.52 million CNY, showing a significant year-on-year increase of 91.02% [1] - As of June 30, 2025, the number of shareholders for Andermatt A was 37,600, a decrease of 8.89% from the previous period, with an average of 83,982 circulating shares per shareholder, an increase of 13.72% [1] Group 4: Shareholder Information - Since its listing, Andermatt A has distributed a total of 9.64 billion CNY in dividends, with 62.90 million CNY distributed over the past three years [2] - As of June 30, 2025, Hong Kong Central Clearing Limited is the fourth-largest circulating shareholder, holding 18.2916 million shares, an increase of 10.5967 million shares from the previous period [2]

Group 1 - The glyphosate concept sector rose by 1.92%, ranking fifth among concept sectors, with 15 stocks increasing in value, led by Jiangshan Co., AnDowMai A, and Hongtaiyang, which rose by 6.34%, 3.97%, and 3.92% respectively [1] - The main funds in the glyphosate concept sector experienced a net outflow of 185 million yuan, with nine stocks seeing net inflows, the highest being Xin'an Co. with a net inflow of 28.9 million yuan [2] - The net inflow ratios for leading stocks in the glyphosate concept included Xin'an Co. at 11.20%, Guoguang Co. at 10.47%, and Jiangtian Chemical at 3.97% [3] Group 2 - The top gainers in the glyphosate concept included Xin'an Co. with a 1.21% increase, Xingfa Group with a 2.18% increase, and Jiangtian Chemical with a 3.37% increase [3] - Stocks with significant net outflows included Hebang Bio, which fell by 1.75% with a net outflow of 24.54 million yuan, and Jiangshan Co., which rose by 6.34% but had a negative net flow of 145.26 million yuan [4]

Core Insights - The agricultural chemical sector saw a rise of 0.92% on October 10, with Chengxing Co. leading the gains [1] - The Shanghai Composite Index closed at 3897.03, down 0.94%, while the Shenzhen Component Index closed at 13355.42, down 2.7% [1] Agricultural Chemical Sector Performance - Chengxing Co. (600078) closed at 8.20, up 10.07% with a trading volume of 199,000 shares and a transaction value of 162 million [1] - Liming Co. (002734) closed at 19.30, up 7.04% with a trading volume of 585,100 shares and a transaction value of 1.118 billion [1] - Jiangshan Co. (600389) closed at 26.85, up 6.34% with a trading volume of 144,100 shares and a transaction value of 383 million [1] - Other notable performers include Baiao Chemical (603360) up 4.01% and Ando A (000553) up 3.97% [1] Capital Flow Analysis - The agricultural chemical sector experienced a net outflow of 704 million from institutional investors, while retail investors saw a net inflow of 545 million [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors are more active [2] Individual Stock Capital Flow - Baiao Chemical (603360) had a net inflow of 56.77 million from institutional investors, but a net outflow of 33.15 million from retail investors [3] - Chengxing Co. (600078) recorded a net inflow of 8.06 million from institutional investors, with retail investors showing a slight outflow [3] - Other companies like Xin'an Co. (600596) and Yun Tu Holdings (002539) also showed varied capital flows, indicating differing investor sentiments across the sector [3]

证券日报网讯安道麦A（000553）10月9日在互动平台回答投资者提问时表示，公司的财务业绩客观、 真实反映了公司经营的结果，公司不存在利益输送的情况。今年上半年，得益于毛利率以及毛利的改 善，公司净亏损同比明显减少，《2025年半年度报告》及其附件详细介绍了财务业绩的变动原因。 ...

证券日报网讯安道麦A（000553）10月9日在互动平台回答投资者提问时表示，截至2025年9月19日，公 司A股股东人数为24，902户。 ...

Core Viewpoint - The company, as a globally positioned agricultural chemical enterprise, determines employee compensation based on local conditions while considering the basic situation of global peers and market benchmarks [2] Group 1 - The company engages with investors through interactive platforms to address inquiries [2] - Employee compensation is aligned with local market conditions and global industry standards [2]