证券代码：000998 证券简称：隆平高科 公告编号：2024-55 袁隆平农业高科技股份有限公司 第九届董事会第十六次（临时）会议决议公告 本公司及董事会全体成员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。 一、董事会会议召开及审议情况 袁隆平农业高科技股份有限公司（以下简称"公司"）第九届董事会第十六 次（临时）会议采用通讯方式召开和表决。根据《中华人民共和国公司法》（以 下简称《公司法》）及《袁隆平农业高科技股份有限公司章程》（以下简称《公 司章程》）的有关规定，本次会议的通知以电子邮件方式于 2024 年 11 月 27 日送 达公司全体董事、监事和高级管理人员。本次会议的召集和召开符合《公司法》 及《公司章程》的有关规定。截至 2024 年 11 月 29 日，公司董事会办公室共计收 到 9 位董事的有效表决票，现根据董事表决意见形成如下决议： 审议通过了《关于修订〈内部审计制度〉的议案》 本议案的详细内容见公司于同日刊登在巨潮资讯网（http://www.cninfo.com.cn） 上的《内部审计制度》。 本议案已经公司审计委员会审议通过，同意将本议案提交董事会审议 ...

袁隆平农业高科技股份有限公司 内部审计制度 （2024年11月） 1、总则 1.1 为加强袁隆平农业高科技股份有限公司（以下简称"公司"）内部审计工作， 提升内部审计工作质量，规范生产经营活动，防范生产经营风险，保证和促进内 部审计作用发挥，根据《中华人民共和国公司法》《中华人民共和国审计法》《中 国内部审计准则第1101号——内部审计基本准则》《审计署关于内部审计工作的 规定》《企业会计准则》《深圳证券交易所上市公司自律监管指引第1号——主板 上市公司规范运作》《公司章程》及公司相关管理制度，制定本制度。 1.2 根据国家的法律法规、政策规定、中信集团的有关要求和公司的经营方针 和战略目标、规章制度，对公司及所属单位的财务收支、经济活动、内部控制、 风险管理，以及所属单位主要负责人履行经济责任情况实施独立、客观的监督、 评价和建议，以促进公司完善治理、提高经济效益的目的。 1.3 公司及所属单位应当支持和保障内部审计机构和内部审计人员依法依规 履行职责，任何单位和个人不得拒绝和阻碍内部审计工作，不得打击报复内部审 计人员。 1.4 内部审计机构应当依照有关法律法规、行业规定和内部审计职业规范，结 合实际情况 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [3][11]. Core Views - The company's overseas business has declined, leading to increased foreign exchange losses and short-term pressure on profitability. For the first three quarters of 2024, the company achieved operating revenue of 2.881 billion yuan, a year-on-year decrease of 14.46%, primarily due to intensified competition in the domestic and international corn seed markets and persistently low grain prices. The net profit attributable to the parent company was -475 million yuan, a year-on-year improvement of 17.82%, mainly benefiting from investment income from the equity transaction of Longping Bio. The non-recurring net profit attributable to the parent company was -874 million yuan, a year-on-year increase in loss of 113.21% [1][5][7]. Summary by Sections Financial Performance - In Q3 2024, the company reported operating revenue of 299 million yuan, a quarter-on-quarter decrease of 41.33% and a year-on-year decrease of 60.27%. The net profit attributable to the parent company was -587 million yuan, a quarter-on-quarter decrease of 1805.18% and a year-on-year decrease of 40.49% [1][5]. - For the 2023/2024 operating year, total seed revenue was 8.736 billion yuan, a year-on-year increase of 9.55%, with total sales volume of 293 million kilograms, a year-on-year increase of 6.96%. Corn seed sales revenue was 5.492 billion yuan, a year-on-year increase of 8.83%, accounting for 62.87% of total sales [1][5]. Expense Analysis - The company experienced a significant increase in expenses, with sales expenses for Q1-Q3 2024 amounting to 493 million yuan, a year-on-year increase of 10.91%, resulting in a sales expense ratio of 17.10%. Management expenses were 651 million yuan, a year-on-year decrease of 15.24%, with a management expense ratio of 22.61%. R&D expenses were 440 million yuan, a year-on-year increase of 9.19%, with an R&D expense ratio of 21.25%. Financial expenses increased by 73.03% year-on-year to 609 million yuan, leading to a financial expense ratio of 21.15% [1][5][6]. Profitability Metrics - The gross profit margin decreased by 12.56 percentage points year-on-year to 28.24%, while the net profit margin decreased by 6.68 percentage points to -29.72% [1][6][7]. - The company has adjusted its net profit forecasts for 2024-2026 to 370 million, 620 million, and 730 million yuan respectively, with earnings per share projected at 0.28, 0.47, and 0.55 yuan, corresponding to a price-to-earnings ratio of 40, 23, and 20 times [1][5][8].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's performance is supported by the simultaneous increase in both the quantity and price of rice seeds, while efforts to streamline operations are aiding in high-quality development [1] - The company has reported significant growth in rice seed revenue and volume, with a 22.11% year-on-year increase in revenue to 1.938 billion yuan and a 15.87% increase in sales volume to 53.88 million kilograms [5] - Despite challenges in the corn seed market, the company maintains a positive outlook for future profitability as grain prices recover [6] Summary by Relevant Sections Financial Performance - For the 2023-2024 business year, rice seed revenue reached 1.938 billion yuan, with a sales volume of 53.88 million kilograms and an average price of 35.97 yuan per kilogram [5] - Corn seed revenue was 5.492 billion yuan, with a sales volume of 180 million kilograms, reflecting an 8.83% year-on-year increase in revenue and a 9.82% increase in sales volume [5] - The company reported a revenue of 2.881 billion yuan for the first three quarters of 2024, a decrease of 14.46% year-on-year, with a net loss of 475 million yuan [6] Profitability Forecast - The forecast for net profit for 2024-2026 is adjusted to 202 million yuan, 738 million yuan, and 944 million yuan respectively, with corresponding EPS of 0.15, 0.56, and 0.72 yuan [6] - The current stock price corresponds to a P/E ratio of 71.3 for 2024, 19.5 for 2025, and 15.3 for 2026 [6] Strategic Initiatives - The company is actively working on asset disposal to enhance operational efficiency, including the planned transfer of a 49% stake in Xinglong Seed Industry for 138 million yuan [7] - A significant inventory impairment loss of 133 million yuan was recorded in Q3 2024, primarily due to falling corn seed prices [7]

证券代码：000998 证券简称：隆平高科 袁隆平农业高科技股份有限公司投资者关系活动记录表 编号：2024-09 | --- | --- | --- | --- | --- | |----------------|--------------------------------------------------------|--------------|-------|-------| | | | | | | | 投资者关系活动 | ☑ 特定对象调研 | □分析师会议 | | | | 类别 | □ 媒体采访 | □ 业绩说明会 | | | | | □ 新闻发布会 | □路演活动 | | | | | ☑ 现场参观 | | | | | | □ 其他 （请文字说明其他活动内容） | | | | | 参与单位名称及 | 详见投资者参会清单 | | | | | 人员姓名 | | | | | | 时间 | 2024 年 10 月 31 日 | | | | | 地点 | 河北巡天农业科技有限公司（张家口宣化现代农业产业园区） | | | | | 接待人员姓名 | 董事长 刘志勇 | | | | | | 监事会主席 袁定 ...

Investment Rating - The report maintains a "Buy" rating for Longping High-Tech [1][4][6] Core Views - Longping High-Tech reported a Q3 revenue of 299 million RMB, a year-on-year decrease of 60.3%, and a net loss attributable to shareholders of 587 million RMB, indicating a worsening loss compared to the previous year [1][2] - The core business for the 2023/24 agricultural year shows growth in both volume and price, with potential long-term benefits from the commercialization of genetically modified crops [1][3] - The company has adjusted its 2024 profit forecast down to 200 million RMB from a previous estimate of 590 million RMB due to ongoing low corn prices [4][9] Summary by Sections Financial Performance - For Q3 2024, the company experienced a revenue decline of 60.3% year-on-year, primarily due to intense competition and falling prices in the domestic and international corn industry [2] - The gross margin for Q3 2024 was down by 1.9%, with significant asset impairment and credit loss provisions totaling 139 million RMB [2] - As of Q3 2024, the company's contract liabilities stood at 3.87 billion RMB, reflecting a year-on-year increase of 14.8% [2] Core Business Growth - In the 2023/24 operating year, the company achieved a total seed sales volume of 293 million kilograms, a year-on-year increase of 6.96%, and total revenue of 8.736 billion RMB, up 9.55% year-on-year [3] - The sales volume of rice seeds reached 53.88 million kilograms, a 16% increase, generating sales revenue of 1.94 billion RMB, a 22% increase [3] - Corn seed sales also grew, with a volume of 180 million kilograms, up 9.8%, and revenue of 5.49 billion RMB, up 8.8% [3] Profit Forecast and Valuation - The 2024 profit forecast has been revised down to 200 million RMB, while the profit estimates for 2025 and 2026 remain unchanged [4][9] - The target price for the stock is set at 14.85 RMB, based on a 21.84x PE ratio for 2025, reflecting the ongoing recovery in the corn seed industry [4][9]

财联社10月30日讯（记者 刘建 曾楚楚）玉米种子行业竞争加剧，库存过剩的问题凸显，受此影响，相 关上市种企业绩承压。从目前已经公布的A股上市种企财报来看，大部分种企Q3业绩均出现下滑态势， 其中种业龙头隆平高科（000998.SZ）亦不例外，公司Q3营收下滑，净利润呈现亏损扩大情况。 今日晚间，隆平高科发布2024年三季报，公司前三季度实现营业收入28.81亿元，同比下降14.46%，归 属于上市公司股东净亏损为4.75亿元，上年同期净亏损5.78亿元，同比减亏17.82%。其中，第三季度实 现营业收入2.99亿元，同比下降60.27%，录得净亏损5.87亿元，亏损同比扩大40.49%。 从营收来看，公司Q3单季度较去年同期接近腰斩，前三季度营收也下滑超一成。公司在财报中称，"主 要原因系受国内外玉米产业市场竞争加剧及粮食价格持续低迷的影响，公司玉米种子销量同比下降，使 得公司营业收入同比减少。" 事实上，从行业来观察也能印证这一情况，财联社记者从一位行业人士处了解到，"其实玉米种子在这 个周期里面真的挺怪的，今年受粮食价格影响，叠加种子品种也比较多，产能比较大，大家拼命的压 价，导致市场竞争也比较激烈，种 ...

证券代码：000998 证券简称：隆平高科 公告编号：2024-54 袁隆平农业高科技股份有限公司 2023-2024 业务年度经营情况报告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 重要提示：本公告所载的财务数据为公司财务部门初步核算数据，未经审计， 敬请广大投资者注意投资风险。 2 | 占总营业收入的比例 | 1.61% | 1.72% | -0.11% | | --- | --- | --- | --- | | 销售数量（公斤） | 803,432.48 | 1,031,426.00 | -22.10% | | 占种子销售数量的比例 | 0.27% | 0.38% | -0.11% | 四、期末余额占比较大的库存商品品种结构情况 一、业务年度期间：2023 年 10 月 1 日-2024 年 9 月 30 日 | 项目 | 2023 | 年 10 月 1 | 日 | 2022 年 | 10 月 | 1 | 日 | 同比增减 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 202 ...

证券代码：000998 证券简称：隆平高科 公告编号：2024-49 袁隆平农业高科技股份有限公司 第九届董事会第十五次（临时）会议决议公告 本公司及董事会全体成员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。 一、董事会会议召开及审议情况 袁隆平农业高科技股份有限公司（以下简称"公司"）第九届董事会第十五 次（临时）会议于 2024 年 10 月 30 日下午 2:00 在子公司河北巡天农业科技有限 公司（张家口宣化现代农业产业园区）以现场与视频相结合的方式召开。本次会 议的通知于 2024 年 10 月 24 日以电子邮件方式送达公司全体董事、监事和高级管 理人员。本次会议由董事长刘志勇主持，会议应到董事 9 人，实到董事 8 人。董 事罗永根因公出差，委托董事长刘志勇代其出席和表决。本次会议的召集和召开 符合《中华人民共和国公司法》及《袁隆平农业高科技股份有限公司章程》（以 下简称《公司章程》）的有关规定。经与会董事认真研究审议，形成如下决议： （一）审议通过了《袁隆平农业高科技股份有限公司 2024 年第三季度报告》 本报告的详细内容见公司同日刊登在《中国证券报》《上海证券 ...

袁隆平农业高科技股份有限公司 关于开展外汇衍生品交易可行性分析报告 一、开展外汇衍生品交易业务的背景 袁隆平农业高科技股份有限公司（以下简称"公司"）随着国际化进程积极推进， 国际业务布局不断深入，公司在海外拥有多家子公司，其中重要控股子公司主要业务位 于境外，境外经营主体经营收支均以当地货币进行结算，同时其持有美元和人民币借款， 借款到期时需以当地货币结汇后偿还。公司及重要控股子公司日常经营中使用外币结算， 预计将持续面临汇率、利率波动的风险。为更好的对冲汇率和利率波动风险，锁定交易 成本，降低经营风险，公司在遵守国家政策法规的前提下，综合考虑持有外币借款和外 币交易的规模以及未来外汇波动预测，不以投机为目的，基于严守保值原则，开展外汇 衍生品业务。 公司拟开展的外汇衍生品业务包括但不限于：远期业务、掉期业务、互换业务及其 他外汇衍生产品业务，严禁使用任何带有投机目的或性质的外汇衍生产品。公司开展外 汇衍生品交易业务的主要币种为美元及其他货币。交易对手方为经营稳健、资信良好、 具有金融衍生品交易业务经营资格的银行等金融机构。 （三）资金来源 公司及控股子公司开展外汇衍生品交易业务资金来源为使用一定比例的银行 ...