Core Viewpoint - 隆平高科's financial performance for the first half of 2025 shows significant declines in revenue and net profit, indicating challenges in the market and operational efficiency [1][3]. Financial Performance Summary - Total revenue for the first half of 2025 was 2.166 billion yuan, a decrease of 16.11% compared to the previous year [1]. - The net profit attributable to shareholders was -164 million yuan, down 247.26% year-on-year [1]. - In Q2 2025, total revenue reached 757 million yuan, an increase of 48.62% year-on-year, but the net profit was still negative at -162 million yuan, a decline of 570.21% [1]. - The gross margin improved to 36.29%, up 14.36% year-on-year, while the net margin was -11.02%, a decrease of 229.6% [1]. - Total expenses (selling, administrative, and financial) amounted to 673 million yuan, accounting for 31.05% of revenue, down 32.75% year-on-year [1]. Cash Flow and Debt Analysis - Cash and cash equivalents decreased by 39.73%, attributed to seasonal cash outflows from operations [3]. - Short-term borrowings increased by 17.13%, indicating a rise in short-term debt pressure [3]. - The current ratio stood at 0.85, reflecting potential liquidity concerns [1][5]. - The company’s cash flow from operating activities showed a net increase of 52.66%, driven by higher cash receipts from sales [3]. Operational Challenges - Revenue decline was primarily due to oversupply in the domestic corn market, increased inventory pressure, and intensified market competition [3]. - The company’s return on invested capital (ROIC) was low at 1.47%, with a historical median of 3.81%, indicating weak capital returns [4]. - The business model relies heavily on research and marketing, necessitating a thorough examination of these driving factors [4]. Fund Holdings - The largest fund holding in 隆平高科 is 嘉实农业产业股票A, with a scale of 1.034 billion yuan and a recent net value of 1.4475, reflecting a 20.37% increase over the past year [7].

风险提示：投资有风险，入市需谨慎。 截至2025年8月22日15时，隆平高科股价报9.99元，较前一交易日下跌0.01元，跌幅0.10%。当日成交量 为228646手，成交金额2.28亿元，振幅0.80%。 隆平高科主营业务为农作物种子研发、生产和销售，产品包括水稻种子、玉米种子、蔬菜瓜果种子等。 公司在水稻育种领域具有领先优势，同时积极布局转基因玉米种子市场。 公司8月22日晚间披露的半年报显示，上半年实现营业收入21.66亿元，同比下降16.11%；归属于上市公 司股东的净利润亏损1.64亿元，同比由盈转亏。分业务看，水稻种子收入7.79亿元，玉米种子收入近10 亿元，巴西玉米业务实现营收8.68亿元。公司在转基因玉米品种方面已有10个次通过国家审定，产业化 示范面积全国领先。 ...

证券日报网讯8月22日晚间，隆平高科（000998）发布公告称，公司董事会同意提名林彦超先生为公司 第九届董事会非独立董事候选人。 ...

格隆汇8月22日丨隆平高科(000998.SZ)公布2025年半年度报告，上半年公司实现营业收入21.66亿元，同 比下降16.11%；归属于上市公司股东的净利润-1.64亿元，同比盈转亏；归属于上市公司股东的扣除非 经常性损益的净利润-1.57亿元；基本每股收益-0.1198元。 ...

智通财经APP讯，隆平高科(000998.SZ)发布2025年半年度报告，该公司营业收入为21.66亿元，同比减 少16.11%。归属于上市公司股东的净亏损为1.64亿元。归属于上市公司股东的扣除非经常性损益的净亏 损为1.57亿元，同比收窄39.13%。基本每股亏损为0.1198元。 ...

Group 1 - The core business of the company’s subsidiary, Longping Kaihong, focuses on the digital agriculture sector [1] - The company aims to enhance production efficiency, reduce operational costs, and optimize resource allocation through technology [1] - The goal is to create value for participants and promote a sustainable business loop in digital agriculture services [1]

Core Viewpoint - Longping High-Tech (隆平高科) reported a revenue of 2.166 billion yuan for the first half of 2025, with a non-net profit loss of 157 million yuan, marking a year-on-year reduction in losses by 39.13% [1] Group 1: Business Performance - The company achieved stable revenue of 779 million yuan from rice seeds, with a net profit increase of 4% year-on-year [2] - The corn business generated nearly 1 billion yuan in revenue, with the Brazilian corn segment significantly reducing losses by 59.13% [3] - The Brazilian corn business reported revenue of 868 million yuan, a year-on-year increase of 2.11% (14% when adjusted for last year's exchange rate) [3] Group 2: Research and Development - Longping High-Tech invested 280 million yuan in R&D, achieving breakthroughs in breeding technologies for rice, corn, and wheat [4] - The company made significant progress in rice parent creation, with 47.8% of trial combinations being dual-resistant recovery lines [4] - The company registered 11 new corn varieties and 5 sorghum varieties in Brazil, expanding planting areas due to their disease resistance and high yield characteristics [4] Group 3: Management and Financial Health - The company completed a private placement raising 1.2 billion yuan from its major shareholder, significantly reducing interest-bearing liabilities by 726 million yuan [7] - Operating cash flow increased by 52.66% year-on-year, and the asset-liability ratio decreased by 6.46% since the beginning of the year [7] - Financial expenses decreased by approximately 17.33% due to reduced interest-bearing liabilities and favorable loan rates [7] Group 4: Future Outlook - The company plans to capitalize on opportunities in low-cadmium rice varieties and rapid growth of key new varieties to strengthen its leading position in the rice industry [8] - The domestic corn business is expected to enhance its competitive advantage due to the opportunities in the bio-breeding industry [8] - The Brazilian corn segment is anticipated to benefit from the growth of the ethanol industry and diversified demand for Chinese agricultural products, leading to increased seed and grain sales and prices [8]

袁隆平农业高科技股份有限公司 关于中信财务有限公司 2025年半年度风险持续评估报告 袁隆平农业高科技股份有限公司（以下简称"公司"）依据有关法律政策的 规定和深圳证券交易所的要求，通过查验中信财务有限公司（以下简称"中信财 务"）提供的《金融许可证》《营业执照》等证件资料，并审阅中信财务 2025 年半年度财务报表，对中信财务的经营资质、业务和风险状况进行了评估，具体 情况报告如下： 一、中信财务基本情况 1．公司注册地、组织形式和总部地址 中信财务成立于 2012 年 11 月 19 日，统一社会信用代码为 91110000717834 635Q。中信财务于 2021 年 08 月 18 日取得国家金融监督管理总局北京监管局换 发的《中华人民共和国金融许可证》（机构编码为 L0163H211000001）。 注册地：北京市朝阳区新源南路 6 号京城大厦低层栋 B 座 2 层；法定代表 人：张云亭。 1 股东名称 出资额（万元） 出资比例（%） 中国中信有限公司 283,870.29 42.94 中信泰富有限公司 173,387.79 26.23 中信建设有限责任公司 83,491.26 12.63 中信戴 ...

袁隆平农业高科技股份有限公司 2025 年半年度财务报告 袁隆平农业高科技股份有限公司 2025 年半年度财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：袁隆平农业高科技股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 1,663,852,249.59 | 2,760,862,592.60 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 348,405,123.35 | 367,266,170.43 | | 衍生金融资产 | 741,679.81 | 57,582,604.44 | | 应收票据 | 5,000,000.00 | | | 应收账款 | 1,953,050,364.40 | 1,828,405,486.08 | | 应收款项融资 | | | | 预付款项 | 420,504,981.06 | 420,532,828.9 ...

袁隆平农业高科技股份有限公司 2025年半年度非经营性资金占用及其他关联资金往来情况汇总表 2025年1-6月 | 编制单位：袁隆平农业高科技股份有限公司 | | | | | | | | | | 单位：人民币元 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公司的关联关系 | 上市公司核算的 会计科目 | 2025年期初 占用资金余额 | 2025年1-6月占用累计发 生金额 （不含利息） | 2025年1-6月占 用资金的利息 （如有） | 2025年1-6月偿还累计发 生金额 | 2025年6月期末 占用资金余额 | 占用形成原因 | 占用性质 | | 控股股东、实际控制人及其附属企业 | | | | | | | | | | 非经营性占用 | | 小 计 | - | - | - | - | - | - | - | - | | - | | 前控股股东、实际控制人及其附属企业 | | | | | | | | | | 非经营性占用 | | 小 计 | - | - ...