Core Viewpoint - As of September 16, 2025, Yara International (000893) closed at 38.65 yuan, reflecting a 0.91% increase, with a turnover rate of 1.24% and a trading volume of 100,400 shares, amounting to a transaction value of 385 million yuan [1]. Group 1: Trading Information Summary - On September 16, the net inflow of main funds was 35.34 million yuan, indicating increased short-term interest from major investors [2][3]. - Retail investors experienced a net outflow of 5.75 million yuan, while speculative funds saw a net outflow of 29.59 million yuan [2]. Group 2: Company Announcement Summary - Yara International announced that Chairman Guo Baichun holds 1,080,000 shares, accounting for 0.1182% of the company, while other executives hold varying amounts [2]. - The executives plan to reduce their holdings by a total of up to 540,000 shares, representing 0.0591% of the total share capital, due to personal financial needs [2]. - Guo Baichun has authorized family members to execute the share reduction due to being subject to compulsory measures, ensuring compliance with relevant laws and regulations [2][3].

Group 1 - On September 16, 26 A-share listed companies disclosed share reduction plans, including companies like XinHua Co., MaiDi Technology, and ChengBang Co. [1] - Suzhou Bank's 12 directors and senior management completed a share buyback plan, with a total investment of nearly 5 million yuan [2] - LiXun Precision's vice chairman completed a share buyback of 200 million yuan, accumulating a total of 5 to 7 million yuan in 2022 [2] Group 2 - XinHua Co. plans to reduce holdings by no more than 75,200 shares [3] - MaiDi Technology's shareholders plan to collectively reduce 1.71% of the company's shares [3] - ChengBang Co. shareholders plan to reduce no more than 0.5% of the company's shares [3] - Other companies with planned reductions include Aters (2.04%), ZhongYou Technology (3%), and DeYe Co. (158,050 shares) [3]

Core Viewpoint - The announcement indicates that key executives of Yara International plan to reduce their shareholding in the company, which may signal potential changes in investor sentiment or company outlook [1] Shareholding Reduction - The chairman, general manager, and other executives intend to reduce their holdings by a total of up to 540,000 shares [1] - This reduction represents approximately 0.0591% of the company's total share capital, excluding repurchased shares [1] - The planned reduction will occur within three months following a 15 trading day period after the announcement [1]

Core Viewpoint - The announcement indicates that key executives of Yara International (000893.SZ) plan to reduce their shareholding in the company, which may signal a shift in confidence or strategy among the leadership [1] Group 1: Shareholding Reduction - The chairman, Mr. Guo Baichun, and other executives intend to reduce their holdings by a total of no more than 540,000 shares [1] - This reduction represents approximately 0.0591% of the company's total share capital, excluding repurchased shares [1] - The planned reduction will occur within three months following a 15 trading day period after the announcement [1]

Summary of Key Points Core Viewpoint - On September 16, several companies disclosed their shareholding changes, with notable increases in holdings by some executives and significant reductions by others, indicating varied market sentiments and potential investment opportunities. Group 1: Increased Holdings - Suzhou Bank's 12 executives completed their share buyback plan, with a total investment of nearly 5 million yuan [3] - Luxshare Precision's Vice Chairman Wang Laisheng completed a 200 million yuan share buyback, bringing the total for 2022 to 500 million yuan [3] Group 2: Decreased Holdings - Newhua Co. plans to reduce holdings by up to 75,200 shares [3] - MediTech shareholders plan to collectively reduce 1.71% of the company's shares [3] - Chengbang Co. shareholders plan to reduce up to 0.5% of the company's shares [3] - Chahua Co.'s Director and Deputy General Manager Chen Zhihai plans to reduce up to 40,000 shares [3] - Artis shareholders plan to reduce up to 2.04% of the total share capital [3] - Zhongyou Technology shareholders plan to reduce up to 3% of the company's shares [3] - Deyang Co. plans to reduce up to 1.5805 million shares [3] - Changhua Group plans to reduce up to 5.3806 million repurchased shares [3] - Tiancheng Technology shareholders plan to reduce up to 1.68% of the company's shares [3] - Anzheng Fashion plans to reduce up to 1.87004 million repurchased shares [3] - Sichuan Gold shareholders plan to reduce a total of 1.5938% of the company's shares [3] - Zhongyan Co. plans to reduce up to 30,000 shares [3] - Fuchuang Precision shareholders plan to reduce up to 3% of the company's shares [3] - Beifang Huachuang plans to reduce 2.5919 million shares through centralized bidding [3] - Xiamen Tungsten plans to reduce up to 1% of Tengyuan Mining's shares [3] - Changgao Electric plans to reduce 3.465 million shares of its associate company [3] - Xinghua New Materials' specific shareholder plans to reduce 1.17% of the company's shares [3] - Tonghe Technology shareholders plan to reduce up to 3% of the company's shares [3] - Anlian Ruishi's Director Shen Lei plans to reduce up to 100,000 shares [3] - Yidong Electronics' controlling shareholder plans to reduce up to 2.96% of the total share capital [3] - Saiwei Times shareholders plan to reduce up to 3% of the company's shares [3] - Tiandi Digital shareholders plan to reduce up to 2.96% of the total share capital [3] - Wanjie Technology's Director and Deputy General Manager Liu Huaiqi plans to reduce up to 386,000 shares [3] - Haitai New Light's actual controller's concerted action plans to reduce up to 0.2102% of the shares [3] - Tengyuan Mining's Xiamen Tungsten and Changjiang Chen Dao plan to reduce up to 2% of the total share capital [3] - Yayi International's Director and senior management plan to reduce up to 540,000 shares [3]

Core Viewpoint - Yara International (SZ 000893) announced a shareholding reduction plan by several shareholders, which may impact the company's stock performance in the near term [1] Shareholding Information - As of the announcement date, Mr. Guo Baichun holds 1.08 million shares, accounting for 0.1182% of the total share capital of Yara International [1] - Ms. Liu Bingyan, Mr. Zheng Youye, and Mr. Su Xuejun each hold approximately 290,000 shares, representing 0.0315% of the total share capital [1] - Mr. Liu Yonggang holds about 220,000 shares, which is 0.0236% of the total share capital [1] - The aforementioned shareholders plan to reduce their holdings by a total of no more than 540,000 shares, equivalent to 0.0591% of the total share capital, within three months after the announcement [1] Financial Performance - For the first half of 2025, Yara International's revenue composition is entirely from potash fertilizers, with a 100.0% contribution [1] - As of the report, Yara International's market capitalization stands at 35.7 billion yuan [1]

证券代码：000893 证券简称：亚钾国际 公告编号：2025-042 亚钾国际投资（广州）股份有限公司 关于董事、高级管理人员减持公司股份的预披露公告 本公司董事长郭柏春先生，董事、总经理、董事会秘书刘冰燕女士，董事、 副总经理郑友业先生，副总经理、财务总监苏学军先生，副总经理刘永刚先生保 证向本公司提供的信息内容真实、准确、完整，没有虚假记载、误导性陈述或重 大遗漏。 特别提示： 截至本公告披露日，郭柏春先生持有亚钾国际投资（广州）股份有限公司（以 下简称"公司"）股份1,080,000股，占公司目前总股本（剔除已回购股份）比例 0.1182%；刘冰燕女士、郑友业先生、苏学军先生分别持有公司股份288,000股， 分别占公司目前总股本（剔除已回购股份）比例0.0315%；刘永刚先生持有公司 股份216,000股，占公司目前总股本（剔除已回购股份）比例0.0236%。上述股东 计划自本公告披露之日起十五个交易日后的三个月内以集中竞价或大宗交易方 式减持本公司股份合计不超过540,000股，占公司目前总股本（剔除已回购股份） 比例为0.0591%。 公司于近日收到上述董事、高级管理人员出具的《关于股份减持计划 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index within the next six months [4][19]. Core Views - The company is experiencing a significant increase in both the volume and price of potassium chloride, leading to a strong performance in its financial results. The increase in sales volume and prices is attributed to reduced production plans from major international potassium producers and a general decline in domestic potassium chloride output, resulting in tighter supply and rising prices [2][10]. - The company is well-positioned for future growth due to its ongoing capacity expansion projects in Laos, which are progressing smoothly. The company holds substantial potassium salt mining rights and is advancing multiple projects aimed at increasing its potassium chloride production capacity [9][10]. - The company is also diversifying its business by developing non-potassium sectors, which will create synergies with its core potassium business. This includes plans to expand bromine production and other chemical projects [10]. Financial Summary - For the fiscal year 2023, the company reported a revenue of 3,898 million yuan, with a year-over-year growth rate of 12.4%. The net profit attributable to the parent company was 1,235 million yuan, reflecting a decline of 39.1% compared to the previous year [1]. - Projections for 2025 estimate revenues to reach 5,640 million yuan, representing a significant growth of 59.0%, with net profits expected to increase to 1,861 million yuan, a growth of 95.8% [1][10]. - The company's return on equity (ROE) is projected to improve from 9.6% in 2023 to 15.4% by 2027, indicating enhanced profitability and efficiency [1]. Production and Sales Performance - In the first half of 2025, the company produced 1.0141 million tons of potassium chloride, a year-over-year increase of 20.0%, while sales reached 1.0454 million tons, up 21.42% from the previous year [3]. - The gross margin for potassium chloride was reported at 58.20%, an increase of 10.31 percentage points year-over-year, highlighting improved profitability [2]. Market Dynamics - The price of potassium chloride has seen a significant increase, with a reported price of 3,216 yuan per ton as of June 2025, up 27.82% since the beginning of the year. The annual import contract price for potassium fertilizer was set at 346 USD per ton, reflecting a 26.7% increase compared to the previous year [2]. - The tightening supply in the potassium fertilizer market is expected to continue, providing further support for price increases as the autumn fertilization season approaches [2].

Investment Rating - Industry Rating: Neutral (maintained rating) [6] Core Viewpoints - The Ministry of Industry and Information Technology (MIIT) is advancing a series of green factory expansion plans during the 14th Five-Year Plan period, aiming to establish the world's largest and most complete new energy industry chain [1][13] - The basic chemical sector has shown a week-on-week increase of 2.45%, outperforming the CSI 300 index by 1.07 percentage points, ranking 10th among all sectors [4][15] - Key sub-industries with significant week-on-week growth include spandex (+13.32%), potassium fertilizer (+7.27%), and membrane materials (+5.72%) [19][15] Summary by Sections Key News Tracking - MIIT emphasizes the promotion of green manufacturing systems and the establishment of zero-carbon factories and parks [1][13] - The basic chemical sector's performance is highlighted, with a notable increase in various chemical product prices [2][4] Product Price Tracking - Key chemical products such as viscose staple fiber and epoxy chloropropane have seen price increases of 3.1% and 6% respectively [2][3] - The top five chemical products with the highest price increases include carbon dioxide (+16%), natural gas (+14.8%), and epoxy chloropropane (+6%) [2][29] Sector Performance - The basic chemical sector's PB ratio is 2.43, while the overall A-share market's PB is 1.69 [25] - The PE ratio for the basic chemical sector stands at 28.54, compared to 17.39 for the overall A-share market [25] Key Sub-Industry Insights - Focus on sub-industries that are at the bottom of the cycle, with stable demand and global supply dominance, such as MDI and amino acids [5] - Recommendations for companies in the organic silicon and spandex sectors, indicating potential recovery opportunities [5][6]

Company Overview - Yara International's stock price decreased by 2.02% on September 15, closing at 37.84 CNY per share with a trading volume of 144 million CNY and a turnover rate of 0.47%, resulting in a total market capitalization of 34.966 billion CNY [1] - The company has seen a significant stock price increase of 87.70% year-to-date, with a 7.65% rise over the last five trading days, 22.06% over the last twenty days, and 27.24% over the last sixty days [1] - Yara International, established on October 27, 1998, and listed on December 24, 1998, is primarily engaged in grain trading, international shipping and logistics, and the mining, production, and sales of potassium salts [1] Financial Performance - For the first half of 2025, Yara International reported a revenue of 2.522 billion CNY, representing a year-on-year growth of 48.54%, and a net profit attributable to shareholders of 855 million CNY, which is a remarkable increase of 216.64% compared to the previous year [2] - The company has cumulatively distributed 85.8774 million CNY in dividends since its A-share listing, with no dividends paid in the last three years [3] Shareholder Structure - As of June 30, 2025, Yara International had 26,500 shareholders, an increase of 8.88% from the previous period, with an average of 30,593 circulating shares per shareholder, down by 8.15% [2] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the fifth largest with 13.8236 million shares, while Southern CSI 500 ETF is the ninth largest with 8.2165 million shares, having decreased its holdings by 179,300 shares [3]