袁隆平农业高科技股份有限公司 2025 年半年度报告全文 袁隆平农业高科技股份有限公司 2025 年半年度报告 2025.08 1 袁隆平农业高科技股份有限公司 2025 年半年度报告全文 公司需遵守《深圳证券交易所上市公司自律监管指引第 3 号——行业信 息披露》中的"种业、种植业务"的披露要求 公司已在本报告中详细描述可能存在的相关风险，敬请查阅本报告第三 节"管理层讨论与分析"的"十、公司面临的风险和应对措施"部分的内 容，敬请广大投资者注意投资风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人刘志勇、主管会计工作负责人及会计机构负责人（会计主管 人员）黄冀湘声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告中涉及未来计划等前瞻性陈述，不构成公司对投资者的实质承 诺，投资者及相关人士均应当对此保持足够的风险认识，并且应当理解计 划、预测 ...

Group 1 - The core viewpoint of the news is the strategic partnership between the Hunan Provincial Women's Federation and Longping High-Tech to promote the "African Mothers New Farm" project, aimed at enhancing agricultural skills and employment opportunities for African women [1][2] - The project is part of a broader initiative responding to the "Ten Major Cooperation Actions" proposed at the China-Africa Cooperation Forum, focusing on improving the livelihoods and entrepreneurial capabilities of African women in agriculture [2] - Longping High-Tech, founded by the renowned agronomist Yuan Longping, has a strong commitment to international cooperation and has trained nearly 11,000 agricultural professionals from over 100 countries, indicating its extensive experience in agricultural technology assistance [1] Group 2 - The collaboration will involve various stakeholders, including government agencies, research institutions, and social organizations, to create a comprehensive support system for the project [2] - The initiative aims to address issues of poverty reduction and gender equality in Africa by providing training and resources to enhance the agricultural productivity of women [2] - Longping High-Tech's involvement aligns with China's Belt and Road Initiative, emphasizing the company's role in fostering international agricultural cooperation [1]

Investment Rating - The industry investment rating is "Positive" (maintained) [3] Core Insights - The USDA supply and demand report indicates an increase in U.S. corn acreage and yield, with global corn production (excluding China) forecasted to rise by 24.92 million tons to 990 million tons for the 2025/26 season, a year-on-year increase of 51.69 million tons [11] - U.S. soybean planting area has been unexpectedly reduced, with production estimates down by 1.29 million tons to 40.5 million tons, while the yield is projected to reach a record 53.6 bushels per acre [19] - Favorable weather conditions have improved EU wheat yields, but global wheat stock-to-use ratio has been revised down [29][30] Summary by Sections Corn - The USDA report raised the global corn production estimate (excluding China) for 2025/26 by 24.92 million tons to 990 million tons, with U.S. corn acreage up by 1.15 million acres and yield forecasted at a record 188.8 bushels per acre, potentially reaching a total of 42.5 million tons [11] - The ending stocks for global corn (excluding China) are projected to be 10.4 million tons, with a stock-to-use ratio of 10.8%, up 1 percentage point [11] Soybeans - The global soybean production estimate (excluding China) for 2025/26 has been reduced by 1.29 million tons to 40.5 million tons, with U.S. production down by 1.16 million tons to 11.7 million tons, reflecting a 2% year-on-year decrease [19] - The ending stocks for global soybeans (excluding China) are estimated at 8.152 million tons, with a stock-to-use ratio of 27.9%, down 0.4 percentage points month-on-month [19] Wheat - The global wheat production estimate (excluding China) for 2025/26 has been increased by 350,000 tons to 667 million tons, with U.S. production slightly down by 40,000 tons to 52.45 million tons [29] - The ending stocks for global wheat (excluding China) are projected to be 13.53 million tons, with a stock-to-use ratio of 20.5%, down 0.3 percentage points [30] Investment Recommendations - In the context of extreme weather and geopolitical tensions affecting grain prices, the report emphasizes the importance of seed source control for national food security, recommending focus on leading seed companies with transgenic advantages such as Longping High-Tech, Dabeinong, and Qianyinhai [38]

截至2025年8月13日收盘，隆平高科股价报10.00元，较前一交易日上涨0.02元，涨幅0.20%。当日成交 额1.64亿元，成交量16.42万手，振幅0.60%。 风险提示：股市有风险，投资需谨慎。 隆平高科主营业务为农作物种子研发、生产和销售，涉及杂交水稻、玉米、蔬菜等种子业务。公司所属 行业为农牧饲渔，业务覆盖国内及海外市场。 公司在互动平台回应投资者提问时表示，未参与中国科学院"智能育种工厂"项目。 8月13日，隆平高科主力资金净流出277.43万元，占流通市值0.02%。近五个交易日，主力资金累计净流 出7506.56万元，占流通市值0.57%。 ...

证券日报网讯隆平高科8月13日在互动平台回答投资者提问时表示，公司未参与中国科学院"智能育种工 厂"项目。 （文章来源：证券日报） ...

证券之星消息，8月11日种植业板块较上一交易日下跌0.14%，诺 普 信领跌。当日上证指数报收于 3647.55，上涨0.34%。深证成指报收于11291.43，上涨1.46%。种植业板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002215 | 诺普信 | 12.45 | -1.66% | 64.14万 | 7.97亿 | | 600598 | 北大荒 | 15.19 | -0.91% | 38.06万 | 5.75亿 | | 000713 | 丰乐种业 | 7.23 | -0.55% | 21.21万 | 1.53亿 | | 601952 | 苏垦农发 | 9.76 | -0.41% | 12.10万 | 1.18亿 | | 000998 | 隆平高科 | 10.01 | -0.40% | 19.89万 | 1.99 Z | | 600540 | 新畫股份 | 5.14 | -0.39% | 34.59万 | 1.78亿 | | 600313 | 农发种业 | 6.4 ...

Core Viewpoint - The market demand for polylactic acid (PLA) fiber is steadily increasing due to rising consumer awareness of environmental protection and a global pursuit of sustainable development. The market size in China is projected to reach approximately 4.511 billion yuan in 2024, with a year-on-year growth of 3.9%, and is expected to grow to 6.979 billion yuan by 2030 [1][20]. Industry Overview - PLA fiber is produced from starch-containing agricultural products such as corn and wheat, which are fermented to generate lactic acid, then polymerized and spun into fibers. It is a biodegradable synthetic fiber that can decompose into carbon dioxide and water in the environment [4][16]. - The fiber has excellent properties such as good hand feel, UV resistance, low flammability, and excellent processing performance, making it suitable for various applications including fashion, sportswear, and hygiene products [6][7]. Market Size and Growth - The PLA fiber industry in China is expected to maintain strong growth momentum, with the market size projected to reach approximately 6.979 billion yuan by 2030 [1][20]. - The market demand for PLA fiber will continue to expand due to increasing consumer environmental awareness and ongoing government support for the environmental industry [20]. Production Process - The production of PLA fiber involves extracting starch from biomass materials, fermenting it to produce lactic acid, and then polymerizing it into PLA, which is subsequently spun into fibers [8][10]. Industry Development History - The research and development of PLA fiber have a history of over half a century, with significant advancements made by various companies in the field, including those in China [12][22]. Industry Chain - The PLA fiber industry chain includes upstream raw materials (corn, wheat, etc.), midstream production processes, and downstream applications in textiles, medical devices, and packaging [14][16]. Key Companies - Major companies in the PLA fiber industry include Anhui Fengyuan Group, Ma'anshan Tongjie Liang Biological Materials Co., Ltd., and Zhejiang Haizheng Biological Materials Co., Ltd., among others [2][22][24]. Industry Trends - The PLA fiber industry is moving towards high performance, with a focus on enhancing heat resistance, mechanical strength, and functional properties through molecular structure modification and composite processing technologies [29]. - The application of PLA fiber is diversifying beyond textiles to include biodegradable wipes, medical dressings, and packaging materials, driven by the deepening "plastic ban" policies [30][31].

Core Points - The stock price of Longping High-Tech (000998) closed at 10.05 yuan, down 0.4% as of August 8, 2025, with a turnover rate of 0.95% and a trading volume of 124,300 lots, amounting to 1.25 billion yuan in transaction value [1] - The company experienced a net outflow of main funds amounting to 14.36 million yuan, accounting for 11.5% of the transaction value, with significant outflows from large orders [1] Financial Performance - For the first quarter of 2025, Longping High-Tech reported total operating revenue of 1.409 billion yuan, a year-on-year decrease of 32.03% [1] - The net profit attributable to shareholders was 2.0947 million yuan, down 102.72% year-on-year, while the non-recurring net profit was 107.364 million yuan, a decrease of 85.19% year-on-year [1] - The company's liquidity ratios are as follows: current ratio at 0.921, quick ratio at 0.536, and debt-to-asset ratio at 64.82% [1] Company Overview - Longping High-Tech was established in 1999 and is based in Changsha, primarily engaged in agricultural activities [2] - The company has a registered capital of 13.1697 billion yuan and has made investments in 83 enterprises, participated in 211 bidding projects, and holds 137 patents and 3 trademarks [2]

截至2025年8月5日收盘，隆平高科(000998)报收于10.04元，上涨0.6%，换手率0.96%，成交量12.66万 手，成交额1.27亿元。 当日关注点 交易信息汇总 袁隆平农业高科技股份有限公司发布了关于子公司为子公司提供担保的进展公告。公司于2025年4月25 日、5月16日召开会议，审议通过了《关于控股子公司2025年度向银行申请综合授信并提供担保的议 案》，同意隆平发展申请担保额度680,000.00万元人民币。为了满足孙公司隆平香港的资金需求，隆平 发展为其申请的485,000.00万元人民币贷款/授信提供连带责任保证，其中包括400,000.00万元流动资金 银团贷款和85,000.00万元衍生交易信用额度。隆平香港成立于2017年7月24日，注册资本111,900万美 元，主要业务为控股投资、贸易。截至2024年12月31日，隆平香港资产总额1,065,101.17万元，负债总 额583,335.80万元，净资产481,765.37万元。2024年度营业收入313,181.59万元，净利润-84,289.72万元。 担保的主要内容包括连带责任保证，担保期间分别为三年。公司出具《安慰函》， ...

Core Viewpoint - The company, Longping High-Tech (000998), acknowledges that the seed industry market will face overall pressure in 2024, but emphasizes its strong operational resilience through a focus on core business, enhancing research and development, and improving efficiency [1] Group 1: Company Strategy - The company aims to strengthen its core business in the seed industry, which accounts for over 90% of its total revenue, highlighting a significant difference in revenue structure compared to some peers [1] - The company plans to solidify its innovative foundation and maintain its competitive position in the industry by focusing on capital operations and optimizing its capital structure [1] - The company is committed to accelerating its international development process and enhancing management capabilities to create long-term value for shareholders [1] Group 2: Market Position - The company differentiates itself from competitors through its sales model, primarily selling self-developed varieties, which results in a relatively higher sales expense ratio compared to some industry peers [1] - The company recognizes that its revenue structure and sales model are not directly comparable to those of some competitors, which may have lower seed revenue proportions and thus lower expense ratios [1]