Core Viewpoint - The company is actively engaging in various sectors including corn and rice industries, mergers and acquisitions, agricultural chemicals, and a capital increase project, showcasing growth potential and strategic development plans [1][4][5][6]. Group 1: Corn Industry - The corn industry is experiencing revenue growth with multiple varieties such as Tie 391K, Tie 391, Fengle 520, and WK1505 being key contributors [2]. - Tie 391K, one of the first approved transgenic corn varieties in China, received its certification in December 2023 and has a significant promotion area in Jilin, Liaoning, Inner Mongolia, and Hebei [2]. - Fengle 520 is promoted in the Huang-Huai-Hai region, while WK1505 has shown excellent performance in Northeast China, setting new records for the company's new variety promotion [2]. Group 2: Rice Industry - The rice industry is focusing on differentiated and specialized development, enhancing its marketing network and regional resource integration [3]. - Sales of the Le You series, represented by Le You 966, and the Xiang Liang You series, represented by Xiang Liang You 676, are continuously increasing, with positive market feedback for other varieties [3]. Group 3: Mergers and Acquisitions - Mergers and acquisitions are a primary development strategy for the company, targeting high-quality acquisition candidates in the fragmented seed industry [4]. - The company plans to pursue acquisitions in the corn seed market across Huang-Huai-Hai, Southwest, and Northwest regions, as well as in the rice seed market in the middle and lower reaches of the Yangtze River [4]. Group 4: Agricultural Chemicals - The agricultural chemicals business experienced a decline in both revenue and net profit in the first half of 2025 due to various factors, including reduced production of raw materials and increased fixed costs [5]. - The company aims to enhance profitability by optimizing product structure and exploring market potential [5]. Group 5: Capital Increase Project - The company has received approval from the State-owned Assets Supervision and Administration Commission for a specific stock issuance project, which is currently under review by the Shenzhen Stock Exchange [6]. - The company is responding to inquiries from the Shenzhen Stock Exchange and is updating its semi-annual report data [6].

Group 1 - The core strategy of the company is mergers and acquisitions, particularly in the seed industry, which is characterized by a fragmented market with few quality targets available for acquisition [1] - The company plans to focus its acquisitions in the corn seed industry in the Huang-Huai-Hai, Southwest, and Northwest markets [1] - In the rice seed industry, the company will target acquisitions in the middle and lower reaches of the Yangtze River for medium indica rice, post-wheat rice, late rice markets, and high-quality rice markets in South China [1]

证券代码：000713 证券简称：国投丰乐 公告编号：2025-043 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。 重要提示：本报告所载的财务数据为公司财务部门初步核算数据， 未经审计，敬请广大投资者注意投资风险。 一、概述 按照《深圳证券交易所上市公司自律监管指引第3号——行业信息披 露（2025年修订）》要求，现将本公司2024—2025种业经营年度经营情 况进行报告。 根据生产经营实际情况，本公司种子经营以上一年的8月1日至次年 的7月31日作为一个经营年度。本次披露数据为公司2024年8月1日到2025 年7月31日种业经营情况，总营业收入为种子业务收入，收入、销售数量 所占比例分别为占种子总营业收入、种子总销售数量的比例。 三、营业收入排名前五的业务大类经营情况 国投丰乐种业股份有限公司 2024-2025 种业经营年度经营情况报告 二、总体经营情况 单位：万元、万公斤 | 项目 | 2024 年 8 月 -2025 年 7 月 | 1 日 31 日 | 2023 年 8 -2024 年 7 | 月 1 日 月 31 日 | 同比增减 | | - ...

Group 1: Corn Industry - The company’s main corn varieties include Tie 391K, Tie 391, Fengle 520, and WK1505, with revenue growth in the current fiscal year [1] - Tie 391K is one of the first 37 genetically modified corn varieties approved in China, receiving certification in December 2023, and has a wide sales area covering Jilin, Liaoning, Inner Mongolia, and Hebei [1] - Fengle 520 is primarily promoted in the Huang-Huai-Hai region, recognized for its high quality and resistance, opening new market opportunities [2] - WK1505 is rapidly gaining traction in Northeast China, setting new records for the company’s recent variety promotions [2] Group 2: Rice Industry - The rice sector focuses on differentiated and specialized development, enhancing the marketing network and resource integration [2] - The sales of the Le You series and the Xiang Liang You series, including varieties like Nanying 676 and Zhongke Fa Zao Jiang, have seen continuous growth and market recognition [2] Group 3: Mergers and Acquisitions - Mergers and acquisitions are a key strategy for the company, targeting quality firms in the corn and rice seed industries [2] - Planned acquisitions in the corn seed sector will focus on the Huang-Huai-Hai, Southwest, and Northwest markets, while rice acquisitions will target the middle and lower reaches of the Yangtze River and high-quality rice markets in South China [2] Group 4: Agricultural Chemical Business - The agricultural chemical business experienced a decline in revenue and net profit in the first half of 2025 due to multiple factors, including reduced production to enhance safety and environmental standards [3] - The decrease in prices for self-produced raw materials and formulations, along with increased fixed costs from safety investments, contributed to the decline [3] - The company plans to enhance product value, improve channel coverage, and mitigate operational risks in the second half of the year [3] Group 5: Capital Increase Project - The company’s application for a private placement of shares has been approved by the State-owned Assets Supervision and Administration Commission and is under review by the Shenzhen Stock Exchange [3] - The company is currently updating application documents and responses based on the half-year report data [3]

Investment Rating - The report maintains an "Accumulate" rating for the industry [5] Core Insights - The industry is undergoing transformation towards genetically modified (GM) and high-density, high-yield crop varieties to enhance food security in China [1][17] - The government emphasizes the importance of food security, aiming for self-sufficiency in grains and absolute safety in staple foods [10] - The introduction of GM crops is expected to significantly improve yield and reduce pesticide use, with GM corn showing a yield increase of 5.6%-11.6% [2][19] Summary by Sections 1. Food Security - Food security remains a fundamental issue for the country, with a focus on self-sufficiency and addressing structural contradictions in grain supply [10] - China has seen a continuous increase in grain imports, particularly for soybeans and corn, highlighting the need for improved crop yields [10][11] 2. National Initiatives for Yield Improvement - The government has launched initiatives to enhance grain yields through agricultural technology advancements, particularly in GM breeding [17] - The focus is on developing high-yield, pest-resistant, and herbicide-tolerant crop varieties to meet increasing demand [17][18] 3. Trends in Crop Breeding - **Trend 1: GM Breeding** - The approval of 161 GM corn varieties and 19 GM soybean varieties marks a significant step in the industry [2][18] - GM crops are expected to reduce pesticide use and improve yield efficiency [19] - **Trend 2: High-Density, High-Yield Corn Varieties** - The emphasis on breeding corn varieties that can withstand higher planting densities is seen as crucial for increasing yields [3][22] - Historical data shows that increasing planting density has significantly contributed to yield improvements in the U.S. [22][26] 4. Industry Overview for Q2 2025 - Major seed companies reported significant revenue growth in Q2 2025, with notable increases for companies like Longping High-Tech and Donghai Seed [28] - Despite revenue growth, many companies experienced profit declines due to seasonal factors and market conditions [28][29] - The report highlights the importance of R&D investment in maintaining competitive advantages in the seed industry [29][40] 5. Key Companies in the Industry - **Longping High-Tech** - A leading company in hybrid rice and corn, with a focus on R&D and innovation [37][38] - **Donghai Seed** - Known for its strong R&D capabilities and focus on high-yield corn varieties [39][41] - **Kangnong Seed** - A smaller company specializing in high-density varieties, showing consistent growth in revenue [42]

本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP, 参与本次互动交流，活动时间为 2025 年 9 月 15 日（周一）15:00-17:00。届时 公司高管将在线就公司业绩、公司治理、发展战略、经营状况等投资者关心的问 题，与投资者进行沟通与交流，欢迎广大投资者踊跃参与。 特此公告。 国投丰乐种业股份有限公司董事会 证券代码：000713 证券简称：国投丰乐 公告编号：2025-042 国投丰乐种业股份有限公司 关于参加 2025 年安徽上市公司投资者 网上集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，国投丰乐种业股份有限公司（以下简称 "公司"）将参加由安徽证监局指导，安徽上市公司协会与深圳市全景网络有限 公司联合举办的"2025 年安徽上市公司投资者网上集体接待日活动"，现将相关 事项公告如下： 2025 年 9 月 10 日 ...

Group 1 - The company, Guotou Fengle (000713), stated on September 5 that there are currently no anti-involution activities in its industry [1]

Market Overview - The planting industry sector declined by 0.69% on September 2, with Nopson leading the decline [1] - The Shanghai Composite Index closed at 3858.13, down 0.45%, while the Shenzhen Component Index closed at 12553.84, down 2.14% [1] Individual Stock Performance - Kangnong Agricultural (837403) saw a significant increase of 6.59%, closing at 29.60 with a trading volume of 86,500 shares and a turnover of 251 million yuan [1] - Nopson (002215) experienced a decline of 2.93%, closing at 11.93 with a trading volume of 394,200 shares and a turnover of 471 million yuan [2] - Other notable performers include Shennong Agricultural (681000E) with a 1.20% increase, and Huagu Biological (300970) remaining flat at 9.33 [1][2] Capital Flow Analysis - The planting industry sector experienced a net outflow of 108 million yuan from institutional investors, while retail investors saw a net inflow of 112 million yuan [2] - The capital flow for individual stocks indicates that Shennong Agricultural had a significant net outflow of 68.06 million yuan from institutional investors [3] - In contrast, Huagu Biological had a net inflow of 22.29 million yuan from retail investors, indicating a mixed sentiment among different investor types [3]

Investment Rating - The report indicates a positive outlook for the agriculture, forestry, animal husbandry, and fishery sectors, with a focus on improving profitability driven by declining feed costs and increased production scale [1][11]. Core Insights - The overall agricultural sector has seen a revenue increase of 6.12% year-on-year in H1 2025, reaching 614.8 billion yuan, with a significant profit increase of 198% to 27 billion yuan, primarily due to the recovery of the pig farming sector [1][11]. - The pig farming sector is experiencing a seasonal price decline, yet remains profitable due to reduced feed costs and increased production efficiency [2][28]. - The poultry farming sector has shown mixed performance, with revenue slightly declining by 0.29% in H1 2025, but net profit improved by 6.43% due to lower costs [3][21]. - The seed sector reported a revenue increase of 5.05% in H1 2025, although net profit turned negative, indicating challenges in seed sales due to falling grain prices [4][21]. Summary by Sections Industry Overview - Feed prices have been on a downward trend, improving overall farming costs. Pig prices have remained stable year-on-year, while poultry prices have been low but profitable across the supply chain. The agricultural product supply-demand balance is easing, with major product prices at low levels [1][11]. - In H1 2025, the sector achieved revenues of 614.8 billion yuan and net profits of 27 billion yuan, with significant contributions from the pig farming sector [1][11]. Pig Farming - In 2024, pig supply is expected to decrease, with prices showing seasonal trends. Despite a decline in prices post-October, the sector remains profitable. In Q1 2025, the average price was 15.01 yuan/kg, up 3.90% year-on-year, while Q2 saw a price drop to 14.56 yuan/kg, down 10.94% year-on-year [2][28]. - The pig farming sector generated revenues of 248.6 billion yuan in H1 2025, a 15.67% increase, with net profits soaring by 1551% to 17.1 billion yuan [2][28]. Poultry Farming - The poultry sector's revenue in H1 2025 was 33.7 billion yuan, a slight decline of 0.29%, but net profit increased by 6.43% to 1 billion yuan due to lower costs [3][21]. - The white feather chicken segment remains stable despite low prices, while the yellow feather chicken segment is recovering from previous losses [3][21]. Seed Sector - The seed sector reported revenues of 8.87 billion yuan in H1 2025, a 5.05% increase, but net profit turned negative, indicating challenges in the market [4][21].

Group 1 - The company reported a revenue of 1.15 billion yuan for the first half of 2025, representing a year-on-year decrease of 13.42% [1] - The net profit attributable to shareholders of the listed company was -28.03 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -31.27 million yuan [1] - The basic earnings per share were -0.0456 yuan [1]