证券日报网讯12月5日，四川美丰（000731）在互动平台回答投资者提问时表示，公司所涉日常关联交 易(如原料天然气采购、相关产品购销等)均为公司正常生产经营所需，交易定价以市场公允价格及国家 政策法规或指导性文件为依据，不会对公司持续经营能力产生不良影响，不存在损害公司及股东利益的 情形。 ...

Core Viewpoint - Sichuan Meifeng is utilizing its idle funds to invest in structured deposits at major state-owned banks, ensuring capital preservation and low investment risk while enhancing fund efficiency [1] Group 1 - The company is currently engaging in structured deposits with banks like China Construction Bank and Industrial and Commercial Bank of China, which are principal-protected and offer floating returns [1] - The returns on these structured deposits are linked to the fluctuations of corresponding financial derivatives in the international market [1] - The investment in structured deposits will not affect the company's main business operations and is aimed at improving the efficiency of fund utilization [1]

Core Viewpoint - The report highlights the growth in China's agricultural nitrogen, phosphorus, and potassium fertilizer production, indicating a positive trend in the industry from 2020 to 2025 [1] Group 1: Industry Overview - In September 2025, China's agricultural nitrogen, phosphorus, and potassium fertilizer (calculated as pure) production reached 5.22 million tons, reflecting a year-on-year increase of 3.3% [1] - From January to September 2025, the cumulative production of agricultural nitrogen, phosphorus, and potassium fertilizers in China was 48.713 million tons, showing a cumulative growth of 9.6% [1] - The data is sourced from the National Bureau of Statistics and compiled by Zhiyan Consulting, a leading industry consulting firm in China [1] Group 2: Companies Involved - Listed companies in the fertilizer sector include Salt Lake Co. (000792), Hubei Yihua (000422), Yuntianhua (600096), Luxi Chemical (000830), Xinyangfeng (000902), Stanley (002588), Sichuan Meifeng (000731), and Yangmei Chemical (600691) [1]

Core Viewpoint - Sichuan Meifeng emphasizes compliance, steady development, and focuses on core business areas to enhance operational quality and profitability while creating long-term value for shareholders [1] Group 1 - The company will adhere to a compliance operation and steady development philosophy [1] - Sichuan Meifeng aims to focus on its main responsibilities and core business [1] - The company plans to implement practical measures in areas such as industrial optimization, market expansion, cost reduction, efficiency enhancement, and research and development innovation [1]

Core Viewpoint - Sichuan Meifeng emphasizes the importance of legal and compliant market value management, acknowledging that stock prices are influenced by various factors including macroeconomic environment, industry trends, and market expectations [1] Group 1 - The company is committed to improving the quality of the listed company and will continue to focus on its main responsibilities and business [1] - Sichuan Meifeng aims to enhance operational quality and core competitiveness [1] - The company plans to optimize shareholder returns through various legal and compliant methods, guiding value recovery [1]

Market Overview - The agricultural chemical sector experienced a decline of 5.39% on November 21, with Chengxing Co. leading the drop [1] - The Shanghai Composite Index closed at 3834.89, down 2.45%, while the Shenzhen Component Index closed at 12538.07, down 3.41% [1] Individual Stock Performance - Chengxing Co. (600078) closed at 11.42, down 10.01% with a trading volume of 815,900 shares [1] - Lianhua Technology (002250) closed at 11.84, down 9.96% with a trading volume of 846,200 shares [1] - Bluefeng Biochemical (002513) closed at 8.05, down 9.96% with a trading volume of 438,000 shares [1] - Liuguo Chemical (600470) closed at 6.09, down 9.78% with a trading volume of 362,100 shares [1] - Chuanjinno (300505) closed at 21.57, down 8.33% with a trading volume of 246,600 shares [1] - Hebang Bio (603077) closed at 2.13, down 7.79% with a trading volume of 3,585,900 shares [1] - Chuanheng Co. (002895) closed at 34.45, down 7.64% with a trading volume of 216,400 shares [1] - Hongda Co. (600331) closed at 11.05, down 7.61% with a trading volume of 1,041,300 shares [1] - Yantu Holdings (002539) closed at 11.03, down 7.47% with a trading volume of 475,800 shares [1] - Salt Lake Co. (000792) closed at 26.04, down 7.20% with a trading volume of 2,051,800 shares [1] Capital Flow Analysis - The agricultural chemical sector saw a net outflow of 1.435 billion yuan from institutional investors, while retail investors had a net inflow of 1.383 billion yuan [1] - The table of capital flow for individual stocks indicates varying levels of net inflow and outflow among different companies [2] Individual Stock Capital Flow - Hongda Co. (600331) had a net inflow of 56.76 million yuan from institutional investors, but a net outflow from retail investors [2] - Guangxin Co. (603599) saw a net inflow of 27.20 million yuan from institutional investors, with a net outflow from retail investors [2] - Zhongqi Co. (300575) had a net inflow of 18.06 million yuan from institutional investors, with a net outflow from retail investors [2] - Andamite A (000553) experienced a net inflow of 15.01 million yuan from institutional investors, but a significant net outflow from retail investors [2] - Sichuan Meifeng (000731) had a net inflow of 13.36 million yuan from institutional investors, with a net outflow from retail investors [2]

Group 1 - The enthusiasm for stock buybacks among A-share listed companies has significantly increased this year, with a total buyback amount reaching 155.88 billion yuan, marking a five-year high [1] - As of November 19, 462 A-share listed companies have announced 509 buyback plans this year, with 128 plans aimed at reducing registered capital, representing 25.14%, an increase from 17.36% in the same period last year [1] - Major companies like CATL and Midea Group have announced substantial buyback plans, indicating a trend of normalizing buybacks as a key measure for market value management [2][3] Group 2 - The proportion of cancellation buybacks is steadily increasing, which is seen as a way to enhance earnings per share and boost market confidence [4] - Recent examples include Yabao Pharmaceutical completing a buyback of 8 million shares at an average price of 6.52 yuan per share, totaling 52.15 million yuan [4] - Experts suggest that the increase in cancellation buybacks is supported by improved profitability and liquidity of listed companies [4] Group 3 - Recommendations to enhance the proportion of cancellation buybacks include regulatory guidance, tax incentives, and improving the process for canceling shares [5] - There is a call for better market awareness and understanding of the value of cancellation buybacks [5]

Core Viewpoint - Sichuan Meifeng (000731) emphasizes that "Striving for Perfection, Enriching Oneself to Benefit Others" is the core connotation of the company's corporate culture [1] Company Summary - The company actively engages with investors through interactive platforms, showcasing its commitment to transparency and communication [1]

Core Viewpoint - The company, Sichuan Meifeng, emphasizes its commitment to focusing on its core business, optimizing its industrial structure, enhancing investment value, and promoting sustainable high-quality development in the future [2] Group 1 - The company will maintain a focus on its main responsibilities and core business operations [2] - There is an intention to optimize the industrial structure to improve overall efficiency and effectiveness [2] - The company aims to enhance investment value, indicating a strategic approach to increase shareholder returns [2] - A commitment to sustainable high-quality development suggests a long-term vision for growth and stability [2]

Group 1 - The company, Sichuan Meifeng, has been actively engaging with investors through the interactive platform, addressing suggestions related to industrial layout, market value management, and corporate governance [2] - The company is committed to listening to valuable opinions and suggestions from investors and is conducting research and optimization management based on industry policies and trends [2]