Group 1: Industry Overview - The pesticide industry remains highly competitive, with major pesticide product prices stabilizing at low levels, but global inventory levels are returning to normal, leading to a slight recovery in demand and prices [2] - The market for glyphosate is expected to grow due to increasing product registrations, market promotions, and production technology improvements [2] Group 2: Company Insights - The company is the largest producer of glyphosate in China, with increasing market share and sales year-on-year [2] - The company is actively pursuing global market registrations for glyphosate, with approvals being obtained progressively [2] Group 3: Product Development and Future Plans - The company is optimistic about the market prospects for chlorantraniliprole, with significant efforts in market layout and production process optimization [3] - Future development plans include continuous technological upgrades, cost reduction, and enhancing product competitiveness, alongside expanding market demand through new product development [3] Group 4: Shareholder Changes - The controlling shareholder, Jiuyuan Group, has announced plans to transfer part of its shares through a public solicitation process, pending approval from relevant authorities [3] - The timeline and certainty of the transfer process remain unclear, and the company will ensure compliance with information disclosure regulations [3]

Group 1 - The glyphosate concept sector declined by 0.86%, ranking among the top declines in the concept sectors, with leading decliners including Runfeng Co., Xin'an Chemical, and Lier Chemical [1] - Among the concept stocks, four stocks experienced price increases, with Zhongnong United, Hongtaiyang, and Nuobixin rising by 1.40%, 0.34%, and 0.09% respectively [1] - The main capital outflow from the glyphosate concept sector was 42 million yuan, with nine stocks experiencing net outflows, led by Xingfa Group with a net outflow of 21.78 million yuan [1] Group 2 - The top three stocks with the largest capital outflows included Xin'an Chemical with a net outflow of 18.10 million yuan, Hebang Biotechnology with 12.91 million yuan, and Lier Chemical with 11.36 million yuan [1] - Stocks with the highest capital inflows included Runfeng Co. with 8.66 million yuan, Nuobixin with 7.98 million yuan, and Jiangshan Co. with 6.62 million yuan [2] - The trading volume for the top outflowing stock, Xingfa Group, was 1.95%, while the highest inflow stock, Runfeng Co., had a turnover rate of 0.47% [2]

Core Viewpoint - The Chinese chemical pesticide raw material production is projected to grow significantly, with a production of 333,000 tons in September 2025, reflecting an 11% year-on-year increase [1] Industry Summary - The cumulative production of chemical pesticide raw materials in China from January to September 2025 reached 3,113,000 tons, marking a 7.5% increase compared to the previous year [1] - The report by Zhiyan Consulting provides a comprehensive analysis of the Chinese pesticide industry from 2025 to 2031, highlighting market trends and strategic insights [1] Company Summary - Listed companies in the pesticide sector include Yangnong Chemical (600486), Adama Agricultural Solutions A (000553), Xianda Co., Ltd. (603086), ST Hongtai (000525), Noposion (002215), Lier Chemical (002258), Runfeng Co., Ltd. (301035), and Xin'an Chemical (600596) [1]

Company Overview - Lier Chemical Co., Ltd. is located at No. 58, Huasheng Road, Chenghua District, Chengdu, Sichuan Province, established on July 26, 2000, and listed on July 8, 2008. The company primarily engages in the research, production, and sales of efficient, low-toxicity, low-residue safe pesticides, including chloropyridine, organophosphorus, sulfonylurea, and substituted urea [1][2]. Financial Performance - For the period from January to September 2025, Lier Chemical achieved operating revenue of 6.709 billion yuan, representing a year-on-year growth of 29.31%. The net profit attributable to the parent company was 381 million yuan, showing a significant increase of 189.07% year-on-year [2]. - The company has cumulatively distributed 1.496 billion yuan in dividends since its A-share listing, with 720 million yuan distributed over the past three years [3]. Stock Performance - As of November 24, Lier Chemical's stock price decreased by 2.07%, trading at 12.78 yuan per share, with a total market capitalization of 10.230 billion yuan. The stock has increased by 62.39% year-to-date, but has seen a decline of 4.77% over the last five trading days [1]. - The stock's trading volume on November 24 was 154 million yuan, with a turnover rate of 1.48%. The net outflow of main funds was 12.1278 million yuan, with large orders showing a buy of 27.7502 million yuan and a sell of 29.6346 million yuan [1]. Shareholder Structure - As of October 31, the number of shareholders for Lier Chemical was 42,000, a decrease of 2.35% from the previous period. The average circulating shares per person increased by 2.40% to 19,008 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited ranked as the fifth largest with 13.308 million shares, an increase of 5.8814 million shares from the previous period. New shareholder Penghua China 50 Mixed Fund holds 5.256 million shares, while Southern CSI 1000 ETF reduced its holdings by 60,900 shares [3].

Group 1 - The company Jiuyuan Group plans to transfer 20% of its shares through a public solicitation of transferees, while its associated party Sichuan Huacai Technology Co., Ltd. will transfer an additional 3.5%, totaling 23.5% of shares [1] - Jiuyuan Group is currently the controlling shareholder with a 23.78% stake, and this transfer may lead to a change in the company's control and governance structure [1] - The introduction of a new controlling shareholder with advantages in the industry chain, channels, technology, or capital could enhance the company's governance and resource synergy, improving its competitiveness in the global agrochemical market [1] Group 2 - The price of glyphosate is expected to stabilize and recover due to the overcapacity in supply leading to a continuous decline in prices over recent years, with the average market price at 44,500 yuan/ton, down 11% year-on-year and 5.32% since the beginning of the year [2] - The agricultural industry's "anti-involution" actions are expected to alleviate disorderly competition, which may lead to a recovery in glyphosate prices [2] - The company is a major domestic producer of glyphosate and is expected to benefit from the anticipated increase in demand for glyphosate and refined glyphosate [2] - Projected net profits for the company from 2025 to 2027 are estimated at 506 million, 656 million, and 804 million yuan, with year-on-year growth rates of +135.17%, +29.63%, and +22.52%, corresponding to PE ratios of 21, 16, and 13 times [2]

Core Viewpoint - Lier Chemical's stock has experienced a significant increase of 68.23% year-to-date, with recent trading showing mixed capital flows and a slight decline in share price on November 21 [1][2]. Company Overview - Lier Chemical Co., Ltd. is based in Chengdu, Sichuan Province, and was established on July 26, 2000, with its stock listed on July 8, 2008. The company specializes in the research, production, and sales of safe pesticides, including chlorinated pyridine, organophosphorus, sulfonylurea, and substituted urea [1]. - The revenue composition of Lier Chemical includes: 61.17% from pesticide raw materials, 21.31% from pesticide formulations, 9.09% from pesticide intermediates, 4.29% from agrochemical product circulation, 3.45% from chemical materials, 0.56% from environmental disposal, and 0.14% from other sources [1]. Financial Performance - For the period from January to September 2025, Lier Chemical achieved a revenue of 6.709 billion yuan, representing a year-on-year growth of 29.31%. The net profit attributable to shareholders was 381 million yuan, showing a remarkable increase of 189.07% compared to the previous year [2]. - Since its A-share listing, Lier Chemical has distributed a total of 1.496 billion yuan in dividends, with 720 million yuan distributed over the past three years [3]. Shareholder Structure - As of October 31, 2025, Lier Chemical had 42,000 shareholders, a decrease of 2.35% from the previous period. The average number of circulating shares per person increased by 2.40% to 19,008 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 13.308 million shares, an increase of 5.8814 million shares from the previous period. New shareholder Penghua China 50 Mixed Fund holds 5.256 million shares [3].

Group 1 - The agricultural chemical sector increased by 1.11% on November 17, with Chengxing Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] - Chengxing Co., Ltd. saw a closing price of 13.39, with a rise of 7.55% and a trading volume of 1,002,100 shares, amounting to a transaction value of 1.326 billion [1] Group 2 - The agricultural chemical sector experienced a net outflow of 299 million from institutional investors, while retail investors saw a net inflow of 446 million [2] - Salt Lake Co., Ltd. had a net inflow of 209 million from institutional investors, but a net outflow of 32.01 million from speculative funds [3] - Chengxing Co., Ltd. had a net inflow of 69.19 million from institutional investors, with a net outflow of 74.30 million from speculative funds and a net inflow of 5.11 million from retail investors [3]

Core Viewpoint - The 26th Central (Hunan) Agricultural Expo has introduced a new agricultural input section, showcasing Hunan's innovations in the green pesticide sector through the participation of eight key pesticide production companies [1][2] Group 1: Event Overview - The expo took place from November 14 to 17, featuring a dedicated agricultural input section for the first time [1] - The Hunan Pesticide Association organized the participation of eight major pesticide companies, including Hunan Haili and Lier Chemical, to highlight the province's advancements in green pesticides [1] Group 2: Participating Companies - The participating companies represent critical segments of the pesticide industry chain, including raw material giants like Hunan Haili, which has established the world's largest carbamate pesticide production base [1] - Other notable companies include Lier Chemical, recognized for its achievements in formulation, along with Haohua Chemical, Nongda Haite Agricultural Chemicals, Shenlong Technology, Dafang Agricultural Chemicals, Wanjiafeng Technology, and Zefeng Agricultural Chemicals, forming a comprehensive industry display matrix [1] Group 3: Innovations and Impact - The companies showcased their latest achievements in green pesticide research and development, precision application technology, integrated pest management solutions, and environmentally friendly formulation products [1] - Representatives from participating companies expressed that the expo provided significant exposure for their green products, enhancing brand influence and facilitating precise connections with upstream and downstream resources [1] Group 4: Future Directions - The Hunan Pesticide Association aims to continue serving as a bridge for the industry, promoting a focus on green technology research and driving the transformation of Hunan's pesticide industry towards efficiency, safety, and environmental sustainability [2]

Core Viewpoint - The company is undergoing a potential change in its controlling shareholder and actual controller due to a public transfer of shares by its major shareholders, which is subject to regulatory approval and carries uncertainties regarding the transfer process [2][4]. Group 1: Share Transfer Details - Sichuan Jiuyuan Investment Holding Group Co., Ltd. (Jiuyuan Group), the controlling shareholder, intends to transfer 160,087,446 shares, representing 20% of the company's total equity, through a public transfer [2][3]. - Sichuan Huacai Technology Co., Ltd. (Huacai Technology), the third-largest shareholder, plans to transfer 28,015,303 shares, accounting for 3.5% of the total equity, in the same public transfer [3]. - The transfer price will be determined based on the higher of the average weighted price over the last 30 trading days prior to the announcement date or the audited net asset value per share from the most recent fiscal year [3]. Group 2: Regulatory and Approval Aspects - The public transfer of shares requires approval from the State-owned Assets Supervision and Administration Commission and other relevant authorities, leading to uncertainties regarding the timing and feasibility of the transfer process [2][4]. - Until the transfer process is completed, there is uncertainty regarding the identity of the transferee [3][4]. Group 3: Communication and Disclosure - The company will maintain close communication with Jiuyuan Group and Huacai Technology and will fulfill its information disclosure obligations in accordance with relevant laws and regulations [4].

证券代码：002258 证券简称：利尔化学 公告编号：2025-037 协议转让公司部分股份的提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和 完整，没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1、本次公开征集转让的实施将可能导致公司控股股东和实际控 制人发生变更； 2、在完成公开征集转让程序前，本次公开征集转让的受让方存 在不确定性； 3、本次公开征集转让尚需取得国有资产监督管理部门等有权机 构的批准，因此能否进入本次公开征集转让程序及何时进入公开征集 转让程序存在不确定性。 2025年5月19日，利尔化学股份有限公司（以下简称"公司"或"利 尔化学"）在中国证券报和巨潮资讯网披露了《关于公司控股股东、 实际控制人拟将发生变更的提示性公告》（2025-019）。 2025年11月14日，公司收到控股股东四川久远投资控股集团有 限公司（以下简称"久远集团"，目前持有公司23.78%股权）《关于拟 通过公开征集转让方式转让利尔化学股份有限公司部分股份的告知 函》，根据《上市公司国有股权监督管理办法》等有关规定，久远集 团拟通过公开征集转让方式转让持有的公司160,087,446股股份， ...