Core Viewpoint - The chairman of Yaqi International, Guo Baichun, has been criminally detained for suspected embezzlement and abuse of power, but the company's operations remain normal and unaffected by this incident [1]. Group 1: Company Announcement - On July 18, Yaqi International announced that its chairman Guo Baichun was detained by the Ningxia Hui Autonomous Region People's Procuratorate for suspected embezzlement and abuse of power [1]. - The company stated that this matter is personal to the chairman and does not relate to the company itself. The company's governance structure and internal control mechanisms are intact [1]. - As of the announcement date, there has been no change in the company's control, and the board of directors is functioning normally, with daily management handled by the management team [1]. Group 2: Financial Performance - Yaqi International disclosed a half-year performance forecast, expecting a net profit between 730 million to 930 million yuan, representing a year-on-year increase of 170% to 244% [2]. Group 3: Market Information - As of July 18, Yaqi International's stock closed at 31.29 yuan per share, with a market capitalization of 28.914 billion yuan [3]. - The trading data shows an opening price of 31.63 yuan, a high of 31.95 yuan, and a low of 30.96 yuan, with a trading volume of 402 million yuan and a turnover rate of 1.58% [4]. Group 4: Company Profile - Yaqi International is listed on the Shenzhen Stock Exchange and focuses on integrated potassium mining, production, and sales. The company aims to develop the largest single potassium mine in Asia, having obtained mining rights in Laos [6].

Mergers and Acquisitions - Caesar Travel Industry's wholly-owned subsidiary plans to acquire 51% stake in China National Travel (Fujian) for 16.83 million yuan [1] Shareholding Changes - Dingsheng New Materials' shareholders plan to reduce their holdings by up to 3% of the company's shares, totaling approximately 9.31 million shares through centralized bidding and 18.62 million shares through block trading [2] - Hongbaoli's largest shareholder and actual controller plan to reduce their holdings by up to 2% of the company's shares, with specific reductions of 5.75 million shares and 1.6 million shares respectively [3] - Yaopi Glass's third-largest shareholder plans to reduce its holdings by up to 2% of the company's shares, approximately 18.70 million shares, due to strategic focus [4] Earnings Forecast - Great Wall Motors reported a net profit of 6.34 billion yuan for the first half of 2025, a year-on-year decrease of 10.22% [5] - StarNet Yuda expects a net loss of between 11 million and 21 million yuan for the first half of 2025, compared to a loss of 16.40 million yuan in the same period last year [6] - Jiabiyou anticipates a net profit of approximately 107 million yuan for the first half of 2025, representing a year-on-year increase of 57.61% [7] Investment Activities - Bohui Co. plans to invest up to 390 million yuan to purchase assets for developing intelligent computing services [8] - Weiguang Biological plans to invest 2.308 billion yuan to build an intelligent industrial base with an annual processing capacity of 1,200 tons of plasma [9] - Quicheng Co. intends to invest 900 million yuan in constructing a biomass (rice husk) silica comprehensive utilization project and a thickener project [10]

Group 1: Company Announcements - Dongwu Securities plans to raise no more than 6 billion yuan through a private placement of A-shares, with the funds primarily allocated for subsidiary capital increase, technology investment, and debt repayment [2] - Nanjing High-Tech reported a significant increase in contract sales, achieving 820 million yuan in equity contract sales, a year-on-year growth of 824.68% [4] - Changhong High-Tech intends to acquire 100% equity of Guangxi Changke New Materials, with stock trading resuming on July 21 [5] - Shunfeng Holdings recorded a revenue of 19.962 billion yuan in June for its express logistics business, reflecting a year-on-year growth of 14.24% [11] - Double Forest Co. plans to issue H-shares and list on the Hong Kong Stock Exchange [9] Group 2: Financial Performance - Nanjing High-Tech's real estate business achieved a contract sales area of 68,500 square meters, a year-on-year increase of 2437.04% [4] - YTO Express reported a revenue of 5.527 billion yuan in June, with a year-on-year growth of 11.35% [7] - Shunfeng Holdings' total revenue from express logistics, supply chain, and international business reached 26.254 billion yuan in June, up 13.43% year-on-year [11] Group 3: Other Significant Developments - The full subsidiary of Shangshi Development plans to sell part of its products from the Quanzhou project for 2.053 billion yuan, expecting a net profit of approximately 163 million yuan [3] - Yuyou Green Energy is set to invest up to 800 million yuan in a smart manufacturing base for new energy vehicle charging and discharging equipment [14] - Weifu High-Tech intends to convert its B-shares for listing on the Hong Kong Stock Exchange, without issuing new shares [12]

Company Announcements - Chairman of Yara International, Guo Bochun, has been criminally detained for suspected embezzlement and abuse of power, but the company's operations remain normal and unaffected [1] - Notai Bio will be subject to risk warnings and its A-share abbreviation will change to "ST Notai" starting July 22 due to false reporting in its 2021 annual report, which inflated revenue by 30 million and profit by 25.95 million [2] - Changhong High-Tech plans to acquire 100% equity of Guangxi Changke, with stock resuming trading on July 21 [3][4] - China Shipbuilding has received approval from the CSRC for the absorption merger with China Shipbuilding Heavy Industry, involving the issuance of 3.053 billion new shares [4] - Bohui Co. intends to purchase assets for 390 million yuan to develop intelligent computing services [17] Shareholding Changes - Good Products has agreed to transfer 5.1% of its shares from its controlling shareholder [19] - Cross-Border Communication's major shareholder's 8 million shares have been judicially auctioned, but this will not change the company's control [19] Performance & Earnings - Sanhuan Group expects a net profit increase of 10%-30% for the first half of 2025 [25] - Longhua Automobile reported a net profit of 6.337 billion yuan for the first half of 2025, a decrease of 10.22% year-on-year [7] - Yunda Express reported a 2.77% increase in revenue for June 2025, while Shentong Express saw a 10.15% increase [24] Contracts & Project Wins - Oke Technology signed a 176 million yuan equipment sales contract, which accounts for 40.51% of its last year's revenue [31] Other Developments - ST Tianshan's controlling shareholder's 53.86 million shares will be publicly auctioned, potentially leading to a change in company control [33]

Core Viewpoint - Guo Bochun, chairman of Yaqi International and Tianyu Digital Science, has been criminally detained for suspected embezzlement and abuse of power, which has raised concerns regarding the governance of both companies [2][4][6]. Group 1: Company Announcements - Both Yaqi International and Tianyu Digital Science announced that the legal issues concerning Guo Bochun are personal matters and do not affect the companies [8]. - Following Guo's detention, Yaqi International appointed Liu Bingyan to temporarily assume the roles of chairman and legal representative [8]. Group 2: Financial Performance - Yaqi International expects its net profit for the first half of 2025 to be between 730 million and 930 million yuan, representing a year-on-year growth of 170% to 244% [8][9]. - Tianyu Digital Science anticipates a net profit of 18 million to 26 million yuan for the first half of 2025, indicating a significant year-on-year increase of 369.52% to 489.30% [8][11]. Group 3: Company Background - Yaqi International is engaged in potassium salt mining and fertilizer production, being one of the first Chinese companies to develop overseas potassium salt resources [8]. - Tianyu Digital Science has developed multiple enterprise-level AI models and established three major business platforms: AI marketing SaaS, mobile application distribution PaaS, and spatial intelligence MaaS [9].

Core Viewpoint - The chairman of Yaqi International, Guo Baichun, has been criminally detained for suspected embezzlement and abuse of power, but the company asserts that this matter is personal and unrelated to the company's operations [2][4]. Group 1: Company Developments - Yaqi International announced that Guo Baichun was detained on July 18, following an investigation by the Ningxia Hui Autonomous Region Supervisory Committee [2]. - The company confirmed that its production and operations are normal, with the management team continuing to oversee daily operations [4]. - The board of directors is functioning normally, and the company is making steady progress in production and construction [4]. Group 2: Financial Performance - Yaqi International expects a significant increase in net profit for the first half of 2025, projecting a range of 730 million to 930 million yuan, representing a year-on-year growth of 170% to 244% [4]. - The growth in performance is attributed to stable production of potash fertilizer, increased output compared to the same period last year, and a flexible sales strategy that targets both domestic and international markets [6]. - The company also noted that the rise in potash fertilizer prices, both internationally and domestically, contributed to an increase in sales prices and gross profit margins for the first half of the year [6]. Group 3: Shareholder Changes - China Agricultural Production Materials Group Co., Ltd., a shareholder with over 5% stake, plans to transfer 46.2026 million shares (5% of total shares) to Huineng Holdings Group Co., Ltd., which will become the largest shareholder of Yaqi International if the transaction is completed [6][7].

Macro Dynamics - The Chinese Ministry of Commerce expressed strong opposition to Canada's new steel import restrictions, which include additional tariffs on products containing Chinese steel components, stating that such unilateral measures violate WTO rules and disrupt international trade [1][2] - The Chinese government urged Canada to correct its actions and stop the restrictive measures, emphasizing the need to protect the legitimate rights and interests of Chinese enterprises [2] Industry Development - The National Development and Reform Commission (NDRC) emphasized the importance of preventing inefficient and redundant construction in the low-altitude industry, advocating for a healthy and orderly development of the low-altitude economy [3] - The NDRC called for a focus on local conditions to promote new industries and models, while ensuring safety and regulatory compliance in low-altitude operations [3] Economic Data - Guangdong Province reported a GDP of 68,725.40 billion yuan for the first half of the year, with a year-on-year growth of 4.2%. The primary industry grew by 4.2%, the secondary industry by 3.4%, and the tertiary industry by 4.6% [4] - Fixed asset investment in Guangdong decreased by 9.7% year-on-year during the same period [4] Market Performance - On July 18, the A-share market saw all major indices rise, with the Shanghai Composite Index up by 0.5% and the Shenzhen Component Index up by 0.37%. The total trading volume reached approximately 15,710.55 billion yuan [7] - In the Hong Kong market, the Hang Seng Index increased by 1.33%, driven by strong performances in innovative drug concepts and AI application stocks [9] Company News - Yunhai Yao, a catering company, was fined 7,000 Singapore dollars due to a food poisoning incident involving ByteDance employees, and the company has permanently shut down its corporate meal service [10] - Douyin denied plans to launch a food delivery service, stating its focus remains on in-store services [11] - Guo Baichun, chairman of Yaqi International, was detained for alleged embezzlement and abuse of power, but the company confirmed that its operations remain normal and unaffected [12][13] - Tencent's Yuanbao has integrated with QQ Music, allowing users to play music directly through the app [14]

Core Viewpoint - The chairman of Yara International, Guo Baichun, has been criminally detained for suspected embezzlement and abuse of power, but this incident is personal and does not affect the company’s operations [1] Company Operations - The company’s production and operations are normal, and the board is functioning properly [1] - Daily management is being handled by the management team [1] - There has been no change in the company's control, and all work is progressing steadily [1]

本公司及董事会全体成员（除董事长郭柏春先生，被实施留置）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1月18日披 露了《关于公司董事长被留置的公告》（公告编号：2025-004），公司董事长郭 柏春先生被宁夏回族自治区监察委员会立案调查并实施留置。 公司于今日收到董事长郭柏春先生家属提供的宁夏回族自治区人民检察院 出具的《拘留通知书》，董事长郭柏春先生因涉嫌挪用公款、滥用职权罪，被刑 事拘留。 上述事项系针对董事长郭柏春先生个人，与公司无关联。目前公司生产经营 一切正常，公司拥有完善的治理结构及内部控制机制，公司按照《公司法》《深 圳证券交易所股票上市规则》《上市公司治理准则》及《公司章程》等法律法规 和相关制度规范运作。截至本公告披露日，公司控制权未发生变化，公司董事会 运作正常，日常经营管理由管理团队负责，公司及下属子公司生产经营建设等工 作稳步推进。 证券代码：000893 证券简称：亚钾国际 公告编号：2025-035 亚钾国际投资（广州）股份有限公司 关于公司董事长被留置的进展公告 特此公告。 亚钾国际投 ...

Investment Rating - The report maintains an "Outperform" rating for the chemical industry as of July 15, 2025 [1] Core Insights - The potassium fertilizer prices are experiencing a continuous recovery, benefiting companies with abundant resources [2] - Domestic production of potassium chloride has decreased year-on-year, while inventory levels remain low, indicating a tightening supply [3] - The potassium fertilizer market is characterized by an oligopoly, with geopolitical conflicts introducing uncertainties that may affect supply and pricing [4] Summary by Sections Potassium Fertilizer Price Trends - As of July 11, 2025, domestic prices for potassium chloride have risen significantly, with prices at 3339 CNY/ton and 3000 CNY/ton, marking increases of 823 CNY/ton and 450 CNY/ton since the beginning of the year [2] - In Q2 2025, the average price for domestic potassium chloride was 2993.95 CNY/ton, reflecting a quarter-on-quarter increase of 105.50 CNY/ton and a year-on-year increase of 597.50 CNY/ton [2] Domestic Production and Inventory - In the first half of 2025, China's potassium chloride production totaled 2.53 million tons, a decrease of 17.1% year-on-year, with June's production at 416,300 tons, down 27.9% year-on-year [3] - Domestic market inventory stands at 1.768 million tons, down 820,000 tons since the beginning of the year, indicating a tight supply situation [3] Market Structure and Geopolitical Risks - The global potassium fertilizer market is dominated by a few countries, primarily Canada, Russia, and Belarus, creating an oligopolistic structure [4] - Recent geopolitical tensions, such as the U.S. imposing tariffs on potassium fertilizer imports from Canada and Mexico, and conflicts involving Israel, pose risks to supply and pricing stability [4] Investment Opportunities - The report highlights that companies with rich potassium resources are likely to benefit from the ongoing market recovery, with specific companies mentioned as potential investment targets [9]