格隆汇10月29日丨亚钾国际发布三季度财报显示，第三季度实现营业收入13.45亿元，同比增长 71.37%；归属于上市公司股东的净利润为5.08亿元，同比增长104.69%。前三季度实现营业收入38.67亿 元，同比增长55.76%；归属于上市公司股东的净利润为13.63亿元，同比增长163.01%。业绩增长主要得 益于报告期内钾肥销量增加及销售价格上升。 ...

亚钾国际公告，第三季度营收为13.45亿元，同比增长71.37%；净利润为5.08亿元，同比增长104.69%。 前三季度营收为38.67亿元，同比增长55.76%；净利润为13.63亿元，同比增长163.01%。 ...

证券代码：000893 证券简称：亚钾国际 公告编号：2025-045 亚钾国际投资（广州）股份有限公司 特此公告。 亚钾国际投资（广州）股份有限公司董事会 2025 年 10 月 29 日 1 关于公司董事无法保证 2025 年第三季度报告 真实、准确、完整的说明公告 本公司及董事会全体成员（除董事郭柏春先生，被采取强制措施）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。 亚钾国际投资（广州）股份有限公司（以下简称"公司"）于 2025 年 10 月 28 日召开第八届董事会第二十三次会议，审议通过了《关于<2025 年第三季度报 告>的议案》，公司董事长郭柏春先生目前被银川市人民检察院采取强制措施， 无法出席董事会，因此郭柏春先生未签署关于 2025 年第三季度报告的书面确认 意见，无法保证公司 2025 年第三季度报告真实、准确、完整。 敬请广大投资者理性投资，注意投资风险。 ...

Financial Performance - The company's revenue for Q3 2025 reached ¥1,344,882,058.78, representing a 71.37% increase year-over-year[6] - Net profit attributable to shareholders was ¥508,051,801.97, up 104.69% compared to the same period last year[6] - The basic earnings per share (EPS) was ¥0.5562, reflecting a 105.77% increase year-over-year[6] - Total operating revenue for the current period reached ¥3,866,785,481.67, a significant increase of 55.7% compared to ¥2,482,559,437.56 in the previous period[21] - Operating profit for the current period was ¥1,666,051,175.40, up from ¥559,270,821.39, reflecting a growth of 197.5%[22] - Net profit attributable to the parent company was ¥1,362,929,905.46, compared to ¥518,198,612.46 in the previous period, marking an increase of 162.5%[22] - Basic earnings per share increased to ¥1.4920 from ¥0.5642, showing a growth of 164.5%[22] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥19,380,123,596.43, a 6.65% increase from the end of the previous year[6] - Total assets increased to ¥19,380,123,596.43 from ¥18,171,645,091.13, representing a growth of 6.6%[21] - Total liabilities rose to ¥6,319,617,106.69, up from ¥4,690,582,693.04, indicating a 34.7% increase[21] - Long-term equity investments rose by 41.10% to ¥167,658,239.55, driven by increased earnings from joint ventures[11] Cash Flow - The company reported a significant increase in operating cash flow, with a net amount of ¥1,405,617,117.83, up 96.68% from the previous year[11] - Operating cash flow for the current period reached ¥1,405,617,117.83, a significant increase of 96.6% compared to ¥714,682,045.71 in the previous period[23] - Total cash inflow from operating activities amounted to ¥4,110,286,964.05, up from ¥2,812,317,356.54, reflecting a growth of 46%[23] - Cash outflow from investing activities was ¥1,398,375,171.65, a decrease of 16% from ¥1,662,513,789.67 in the previous period[23] - Net cash flow from financing activities was ¥44,470,664.28, a decline of 95% compared to ¥896,023,739.40 in the previous period[24] - The ending balance of cash and cash equivalents increased to ¥1,007,148,390.00, up from ¥700,123,874.55, representing a growth of 43.8%[24] Shareholder Information - Total number of common shareholders at the end of the reporting period is 22,729[13] - The largest shareholder, Huineng Holdings Group, holds 14.05% of shares, totaling 129,851,837 shares[13] - The company holds 10,544,029 shares in its repurchase account, representing 1.14% of the total share capital[14] - The company has not disclosed any significant changes in the top 10 shareholders due to margin trading activities[14] Production and Sales - The company reported a production volume of 1,498,600 tons and sales volume of 1,524,300 tons for potassium chloride in the first three quarters[15] - The increase in revenue was primarily driven by higher sales volume and prices of potassium fertilizers[11] Expenses - The company experienced a 370.31% rise in income tax expenses, totaling ¥302,575,744.58, attributed to increased profits[11] - The company reported a 208.82% increase in financial expenses, totaling ¥65,295,833.78, mainly due to higher interest expenses[11] - Research and development expenses for the current period were ¥12,892,885.82, compared to ¥10,450,803.05, reflecting a growth of 23.4%[22] Other Financial Information - Investment income surged to ¥44,802,495.28, marking a 1176.41% increase due to higher earnings from joint ventures[11] - Deferred tax assets decreased slightly from ¥219,335,936.90 to ¥207,003,854.38, a decline of 5.5%[21] - The company received tax refunds amounting to ¥103,223,831.14, a slight increase from ¥96,401,402.17 in the previous period[23] - The financial report for the third quarter was not audited[25]

证券代码：000893 证券简称：亚钾国际 公告编号：2025-043 亚钾国际投资（广州）股份有限公司 第八届董事会第二十三次会议决议公告 经全体与会董事认真审议和表决，审议通过了下列议案： 一、关于《2025 年第三季度报告》的议案 具体内容详见公司于同日刊载在《证券时报》、《中国证券报》、《上海证 券报》、《证券日报》及巨潮资讯网（www.cninfo.com.cn）的《亚钾国际投资 （广州）股份有限公司 2025 年第三季度报告》。 表决结果：8 票同意、0 票反对、0 票弃权。 特此公告。 本公司及董事会全体成员（除董事长郭柏春先生，被采取强制措施）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。 亚钾国际投资（广州）股份有限公司（以下简称"公司"）第八届董事会第二 十三次会议的会议通知于 2025 年 10 月 23 日以邮件方式发出，会议于 2025 年 10 月 28 日上午以通讯方式召开。本次会议应出席董事 9 人，实际出席董事 8 人， 公司董事长郭柏春先生被银川市人民检察院采取强制措施，无法出席，会议由公 司代行董事长刘冰燕女士召集并主持。公司高级管理人员列席了 ...

Market Overview - The agricultural chemical sector saw a slight increase of 0.02% on October 28, with Chengxing Co. leading the gains [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Top Performers - Chengxing Co. (600078) closed at 9.63, up 10.06% with a trading volume of 515,900 shares and a transaction value of 479 million [1] - Dongfang Tieta (002545) closed at 16.87, up 7.25% with a trading volume of 599,200 shares and a transaction value of 1.012 billion [1] - Suli Co. (603585) closed at 20.14, up 5.33% with a trading volume of 103,800 shares and a transaction value of 204 million [1] Underperformers - Nongxin Technology (001231) closed at 25.66, down 10.00% with a trading volume of 170,100 shares and a transaction value of 466 million [2] - Lanfeng Biochemical (002513) closed at 8.00, down 8.05% with a trading volume of 744,400 shares and a transaction value of 607 million [2] - Lianhua Technology (002250) closed at 11.40, down 5.94% with a trading volume of 858,700 shares and a transaction value of 983 million [2] Capital Flow - The agricultural chemical sector experienced a net outflow of 222 million from institutional investors, while retail investors saw a net inflow of 181 million [2] - The top net inflows from retail investors were observed in Dongfang Tieta (002545) with 78.43 million, while Chengxing Co. (600078) saw a net outflow of 42.07 million [3]

Core Viewpoint - The chemical sector experienced a significant increase on October 28, with the chemical ETF (516020) showing a peak intraday gain of 1.2% before settling at a 0.53% increase, driven by strong performances in sub-sectors like fluorine chemicals, soda ash, and phosphate fertilizers [1][3]. Group 1: Market Performance - The chemical ETF (516020) opened with a strong upward trend, reaching a maximum intraday increase of 1.2% before slightly retracting to a 0.53% gain at the time of reporting [1]. - Key stocks in the sector included Multi-Fluor, which hit the daily limit, and others like Boyuan Chemical, which rose over 4%, with several stocks including Xingfa Group and Hangyang Co. gaining more than 3% [1][2]. Group 2: Price Movements - Prices for third-generation refrigerants R32 and R134a have increased, with R134a rising by 1,000 yuan/ton to 54,000 yuan/ton and R32 increasing by 500 yuan/ton to 63,000 yuan/ton as of October 26 [1]. - The price of refrigerant R125 remained stable at 45,500 yuan/ton compared to the previous week [1]. Group 3: Industry Insights - Pacific Securities noted that under the new quota policy, supply elasticity in the industry is limited, leading companies to prioritize fulfilling long-term customer orders, which exacerbates the tight supply situation and supports high prices [3]. - As of October 27, the chemical ETF's underlying index had a price-to-book ratio of 2.26, indicating a low valuation at the 37.96 percentile over the past decade, suggesting attractive long-term investment opportunities [3]. Group 4: Investment Strategies - The chemical ETF (516020) tracks the CSI segmented chemical industry index, covering various sub-sectors, with nearly 50% of its holdings in large-cap stocks like Wanhua Chemical and Salt Lake Co., providing a strong investment opportunity [4]. - Investors can also consider the chemical ETF linked funds (Class A 012537/Class C 012538) for exposure to the chemical sector [4]. Group 5: Future Outlook - China Galaxy Securities highlighted potential investment themes under the "14th Five-Year Plan," suggesting focus on sectors like polyester filament, organic silicon, and pesticides, while also recommending attention to the exit of outdated capacities in refining and soda ash [5].

Core Viewpoint - As of October 21, 2025, Yara International (000893) closed at 41.05 CNY, up 3.82%, with a trading volume of 73,500 lots and a total transaction amount of 300 million CNY [1] Group 1: Financial Performance - Yara International's main revenue for the first half of 2025 was 2.522 billion CNY, a year-on-year increase of 48.54% [5] - The net profit attributable to shareholders was 855 million CNY, up 216.64% year-on-year [5] - The second quarter of 2025 saw a single-quarter main revenue of 1.309 billion CNY, a year-on-year increase of 23.0% [5] - The gross profit margin was 57.5%, significantly higher than the industry average of 19.59% [5] Group 2: Market Activity - On October 21, 2025, the net inflow of main funds was 25.49 million CNY, accounting for 8.51% of the total transaction amount [1][2] - Retail investors had a net outflow of 22.90 million CNY, representing 7.64% of the total transaction amount [1][2] - Over the past five days, the stock experienced fluctuations in fund flows, with notable net outflows from retail investors on multiple days [2][3] Group 3: Financing and Margin Trading - On October 21, 2025, the financing balance was 704 million CNY, with a net repayment of 1.9631 million CNY [3] - The margin trading balance stood at 713 million CNY, indicating active trading activity [3] - The stock had a total of 22.65 million shares in margin trading, with a balance of 9.2978 million CNY in short selling [3] Group 4: Industry Comparison - Yara International's total market capitalization is 37.932 billion CNY, ranking 4th in the fertilizer industry [5] - The company's price-to-earnings ratio (P/E) is 22.19, significantly lower than the industry average of 42.86 [5] - The return on equity (ROE) for Yara International is 7.01%, outperforming the industry average of 4.21% [5]

Core Viewpoint - The agricultural chemical sector experienced a 1.12% increase on October 21, with Lanfeng Biochemical leading the gains. The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1]. Sector Performance - The agricultural chemical sector saw individual stock performances as follows: - Lanfeng Biochemical (002513) closed at 8.86, up 10.06% with a trading volume of 1.0553 million shares and a transaction value of 875 million yuan - Dongfang Tower (002545) closed at 14.59, up 4.66% with a trading volume of 182,400 shares and a transaction value of 262 million yuan - Yajing International (000893) closed at 41.05, up 3.82% with a trading volume of 73,500 shares and a transaction value of 300 million yuan - Other notable performances include Green Heng Technology (920866) up 3.37%, Chitianhua (600227) up 2.88%, and Jinzhen Da (002470) up 2.84% [1]. Capital Flow - The agricultural chemical sector experienced a net outflow of 121 million yuan from institutional investors, while retail investors saw a net inflow of 136 million yuan. Speculative funds had a net outflow of 14.34 million yuan [1].

Core Viewpoint - The chemical sector is experiencing an upward trend, with the chemical ETF (516020) showing a gain of 0.55% as of the latest update, driven by strong performances in specific sub-sectors such as explosives, potassium fertilizers, and lithium batteries [1][2]. Market Performance - The chemical ETF (516020) opened at a price of 0.732, fluctuating throughout the day and reaching a peak of 0.734, with a trading volume of 4522 [2]. - Key stocks contributing to the rise include Guangdong Hongda and Yaqi International, both up over 3%, and other stocks like Cangge Mining and Hangyang Co., which saw increases of over 2% and 1% respectively [1]. Industry Insights - Longjiang Securities highlighted that an important meeting from October 20 to 23 in Beijing is focused on formulating the "14th Five-Year Plan," with a potential emphasis on "anti-involution," which could catalyze supply-side reforms in the chemical industry [1]. - The report suggests that certain sub-industries, including polyester filament, organic silicon, and acetic acid, may see accelerated reversals due to strong terminal demand growth and the end of capacity expansion [1]. Valuation Perspective - As of October 17, the chemical ETF (516020) had a price-to-book ratio of 2.22, indicating a low valuation at the 35.62 percentile over the past decade, suggesting attractive long-term investment opportunities [3]. Future Outlook - Zhongtai Securities anticipates that China's chemical industry will enter a new cycle driven by increasing global market share and supportive policies on energy conservation and environmental protection [4]. - Donghai Securities noted that supply-side reforms are likely to lead to structural optimization, with a focus on resilient and advantageous product segments [4]. - The chemical ETF (516020) is positioned to provide efficient exposure to the chemical sector, with nearly 50% of its holdings in large-cap stocks like Wanhua Chemical and Salt Lake Co., while also diversifying into other segments such as phosphate and nitrogen fertilizers [5].