Core Viewpoint - ST Hongtai announced a price adjustment for its 97% chlorantraniliprole product to 300,000 yuan per ton, a more than 40% increase compared to last year's low of 210,000 yuan per ton, primarily due to limited upstream raw material supply and rising costs [1][3]. Industry Overview - Chlorantraniliprole is the world's largest insecticide, with annual global sales exceeding $2 billion. After the expiration of its compound patent in China in August 2022, market prices continued to decline, with a cumulative drop of 34.38% in 2024. However, since 2025, prices have rebounded due to low effective capacity release influenced by intermediates and operating rates, rising to 228,000 yuan per ton on May 25, an increase of 8.57% [3]. - Currently, there are over 100,000 tons per year of chlorantraniliprole production capacity under construction or planning in China, but the progress of planned capacity construction has slowed due to the impact of intermediate K amine supply and declining raw material prices [3]. Market Reaction - Following the price adjustment announcement, the pesticide sector continued to show strength on June 9, with stocks such as Changqing Co. and Guangkang Biochemical hitting historical highs, and ST Hongtai and other stocks also rising [3]. - Analysts generally believe that chlorantraniliprole prices are likely to experience a phase of upward momentum. Future project approvals and production regulations involving hazardous chemical reactions such as nitration and chlorination are expected to become stricter, benefiting leading companies in the chemical industry that can maintain stable production of existing products [3]. Company Responses - Due to changes in market supply dynamics, investor interest in companies involved in chlorantraniliprole has increased, prompting several listed companies to respond. Lianhua Technology stated that it provides advanced intermediates through a CDMO model and does not directly produce the product, indicating limited overall impact on the company. Huailong Co. is steadily advancing its chlorantraniliprole raw material and intermediate project with an annual output of 2,000 tons. Lier Chemical is orderly constructing a 5,000 tons/year production facility. Changqing Co. confirmed that its insecticides are currently in normal production. Liming Co. noted that if chlorantraniliprole supply tightens, it would boost demand for alternatives such as abamectin and methomyl [4].

Group 1 - The company's stock (Changqing Co., stock code: 002391) experienced an abnormal trading fluctuation, with a cumulative closing price increase exceeding 20% over two consecutive trading days on June 6 and June 9, 2025 [1] - The company confirmed that there are no corrections needed for previously disclosed information and that no significant undisclosed information has been reported in the media that could impact the stock price [2] - The company's production and operational conditions remain normal, with no significant changes in the internal and external business environment [1][2] Group 2 - The board of directors confirmed that there are no undisclosed matters that should be disclosed according to the Shenzhen Stock Exchange listing rules, nor any related planning or agreements that could significantly affect the stock price [2] - The company emphasizes that all information should be verified through its designated disclosure media, which include Securities Times, Shanghai Securities Journal, and the Giant Tide Information Network [3]

股票代码：002391 股票简称：长青股份 公告编号：2025-017 江苏长青农化股份有限公司 股票交易异常波动公告 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。 一、股票交易异常波动的情况介绍 江苏长青农化股份有限公司（以下简称"公司"）股票（股票简称：长青股 份，股票代码：002391）于 2025 年 6 月 6 日、2025 年 6 月 9 日连续两个交易日 收盘价格涨幅偏离值累计超过 20%，根据深圳证券交易所相关规定，属于股票交 易异常波动的情况。 二、公司核实情况说明 针对公司股票异常波动情况，经与公司经营层、董事会、实际控制人就相关 问题进行核实，现将核实情况说明如下： 1、公司前期披露的信息不存在需要更正之处； 2、未发现近期公共传媒报道了可能或已经对本公司股票交易价格产生较大 影响的未公开重大信息； 3、近期公司生产经营情况正常，公司经营情况及内外部经营环境未发生重 大变化； 4、公司实际控制人不存在关于公司应披露而未披露的重大事项，或处于筹 划阶段的重大事项；实际控制人在公司股票交易异常波动期间未买卖本公司股票。 公司前期披露的信息不 ...

Group 1 - The agricultural pesticide sector continues its strong performance, with Changqing Co., Ltd. achieving a two-day consecutive limit-up [1] - Guangkang Biochemical surged over 15%, reaching a new historical high, while Lianhua Technology approached the limit-up [1] - Other companies such as Nuobixin, Yabenn Chemical, Hailier, and Huillong also experienced gains [1] Group 2 - On June 5, ST Hongtaiyang announced a price adjustment for its 97% chlorantraniliprole product, raising the price to 300,000 yuan per ton, with limited supply [1] - This price increase represents a more than 40% rise compared to the market's low point of 210,000 yuan per ton last year [1]

Investment Rating - The report maintains a "Recommended" rating for the chemical industry [1]. Core Insights - The report highlights the potential revaluation of phosphate rock value due to ongoing supply-demand tensions, with increasing demand for phosphate fertilizers and lithium iron phosphate batteries [6][4]. - The chemical industry is expected to enter a restocking cycle in 2025, driven by low inventory levels and improving profitability among leading chemical companies [5][27]. - The report emphasizes the expansion of phosphate production capacity by Batian Co., which is set to increase its phosphate rock extraction capacity to 2 million tons per year [4][6]. Summary by Sections Core Target Tracking - The report tracks key companies in the chemical sector, including Batian Co., which is expanding its phosphate production capacity significantly [4][6]. - It also notes the performance of various chemical products, with a focus on price increases for butadiene and polyester filament due to favorable market conditions [10][14]. Market Observation - The chemical sector has shown a relative performance of 6.7% over the past month, outperforming the CSI 300 index [2]. - The report indicates that the chemical industry is experiencing a recovery phase, with several companies poised for growth due to favorable market dynamics [5][27]. Data Tracking - The report provides detailed tracking of price movements for key chemical products, including butadiene, polyester filament, and various fertilizers, indicating a general upward trend in prices [10][12][17]. - It also highlights the current chemical industry sentiment index at 93.10, reflecting a positive outlook for the sector [6][33]. Investment Recommendations - The report suggests focusing on companies with low-cost expansion capabilities, such as Wanhua Chemical and various tire manufacturers, as well as those benefiting from rising product prices [5][7]. - It emphasizes the importance of high dividend yield companies in the chemical sector, particularly state-owned enterprises with stable financials [8][29].

股票代码：002391 股票简称：长青股份 公告编号：2025-016 江苏长青农化股份有限公司 2024 年年度股东大会决议公告 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、本次股东大会召开期间没有增加、否决或变更议案。 2、本次股东大会采取现场会议与网络投票相结合的表决方式。 3、本次股东大会对个别议案进行中小投资者单独计票。 一、会议召开情况 1、会议召开时间： 现场会议召开时间：2025 年 5 月 8 日（星期四）14:00 网络投票时间为：2025 年 5 月 8 日（星期四） 其中：通过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 5 月 8 日上午 9:15 至 9:25，9:30 至 11:30，下午 13:00 至 15:00；通过深圳证券交 易所互联网投票系统投票的具体时间为：2025 年 5 月 8 日 9:15 至 15:00 期间的 任意时间。 2、会议召开地点：江苏省扬州市江都区文昌东路 1002 号（长青国际酒店） 本次股东大会的召集、召开和表决程序符合有关法律、法规、规章、规范性 文件及 ...

上海市锦天城律师事务所 关于江苏长青农化股份有限公司 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 2024 年年度股东大会的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 2024 年年度股东大会的 法律意见书 致：江苏长青农化股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受江苏长青农化股份有限 公司（以下简称"公司"）委托，就公司召开 2024 年年度股东大会（以下简称 "本次股东大会"）的有关事宜，根据《中华人民共和国证券法》（以下简称"《证 券法》"）、《中华人民共和国公司法》（以下简称"《公司法》"）和中国证 券监督管理委员会《上市公司股东会规则》（以下简称"《股东会规则》"）等 法律、法规和其他有关规范性文件的要求以及《江苏长青农化股份有限公司章程》 （以下简称"《公司章程》"）的有关规定，出具本法律意见书。 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定，严格履行 了 ...

江苏长青农化股份有限公司 证券代码：002391 证券简称：长青股份 编号：2025-002 江苏长青农化股份有限公司 | | | 尊敬的投资者您好，公司一方面要对内挖潜，生 | | --- | --- | --- | | | | 产上通过技术进步与强化管理提高生产效率，提 | | 10 | 未来如何应对成本压力？ | 升产品质量，降低生产成本，减少三废排放；另 | | | | 一方面继续加强国内外农药登记工作，大力发展 | | | | 制剂客户，努力提升市场份额。谢谢！ | | | | 尊敬的投资者您好：公司在扬州沿江厂区原有 500 | | | | 吨烯草酮产能，在此次沿江厂区的腾退搬迁中， | | 11 | 烯草酮公司年产量是多少？ | 公司将烯草酮的产品备案转移到了湖北宜昌公 | | | | 司，下一步，公司将根据市场需求与盈利分析的 | | | | 综合考量，做进一步的项目决策。感谢您对公司 | | | | 的关注。 | | | | 尊敬的投资者您好，公司沿江原厂区已于 2024 年 | | | 沿江厂区搬迁后，老厂区土地 | 关停，目前正在进行农药生产线拆除、清理和变 | | 12 | 处置进展如 ...

Core Viewpoint - The agricultural chemical industry is experiencing a recovery in the first quarter of 2024, with most companies reporting improved performance after a period of destocking in 2023 [1][5][6]. Group 1: Company Performance - As of April 28, 29 agricultural chemical companies have disclosed their Q1 reports, with 27 companies reporting profits and 16 showing year-on-year profit growth [1]. - Companies such as Lianhua Technology, Hunan Haili, and Lier Chemical reported net profit increases exceeding 100% year-on-year [2][3]. - Lianhua Technology's Q1 net profit grew over tenfold to 4971.56 million yuan, with a revenue of 15.1 billion yuan, marking a 3.02% increase [2]. - Hunan Haili achieved a revenue of 4.31 billion yuan, up 25.44%, and a net profit of 5661.02 million yuan, up 483.78% [3]. - Lier Chemical reported total revenue of 20.86 billion yuan, a 49.99% increase, and a net profit of 1.53 billion yuan, up 219.9% [3]. - Companies like Xianda Co. and Limin Co. turned losses into profits in Q1 due to increased sales and prices [4]. Group 2: Market Trends - The agricultural chemical market is entering its traditional peak season, with significant destocking observed since the beginning of the year [5][6]. - The market is showing signs of recovery, with an increase in terminal demand and replenishment in both domestic and foreign markets [6]. - The raw material price index for agricultural chemicals rose to 73.11 points, reflecting a 0.29% increase from the previous month [6]. - Industry experts express optimism for 2025, anticipating a stable recovery in the agricultural chemical sector [7].

江苏长青农化股份有限公司 关于举行 2024 年度业绩网上说明会的公告 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。 江苏长青农化股份有限公司（以下简称"公司"）《2024 年年度报告及摘要》 经公司第九届董事会第二次会议审议通过，并刊登在 2025 年 4 月 18 日的巨潮资 讯网、《中国证券报》及《证券时报》上。 公司将于 2025 年 4 月 30 日（星期三）下午 15：00-17：00 在同花顺路演平 台举办 2024 年度业绩网上说明会，本次年度业绩网上说明会将采用网络远程的 方式举行。 投资者可以通过以下两种方式参与：1）登录同花顺路演平台，进入直播间 https://board.10jqka.com.cn/rs/pc/detail?roadshowId=1010493 进行提问；2）使用同 花顺手机炒股软件扫描下方二维码进入路演直播间进行提问互动交流。 股票代码：002391 股票简称：长青股份 公告编号：2025-015 出席本次说明会的人员有：公司副董事长黄南章先生、总经理孙霞林先生、 财务总监兼董事会秘书马长庆先生、独立董事石柱先生。 ...