Core Viewpoint - The article emphasizes the critical role of food security in China's national prosperity and the significant contributions of Jinzhengdai Group in enhancing agricultural productivity through innovative fertilizer technologies, particularly during the 14th Five-Year Plan period [1][5][23]. Group 1: Achievements and Innovations - Jinzhengdai Group has been recognized three times with national science and technology awards, highlighting its leadership in the fertilizer industry and its successful export of proprietary fertilizer technology to Europe [5][11]. - The company has developed a bio-based membrane controlled-release fertilizer technology that addresses global challenges in fertilizer resource waste and soil quality decline, achieving international leading standards [5][7]. - The new bio-based controlled-release fertilizers can increase crop yields by over 5% and reduce fertilizer usage by 15%-20% compared to traditional petrochemical-based fertilizers [7][8]. Group 2: Global Expansion and Collaboration - Jinzhengdai Group has initiated a global promotion of its controlled-release fertilizer technology, establishing a model factory in the Netherlands and expanding into Southeast Asia [13][14]. - The company has formed strategic partnerships with agricultural enterprises in Indonesia and other regions to enhance its market presence and share its innovative technologies [14][15]. - Jinzhengdai Group has been recognized by the FAO for its contributions to global food security and has actively participated in international forums to share its agricultural technology advancements [15][18]. Group 3: Research and Development - The company has established a comprehensive R&D system, including multiple research institutes and laboratories, and has accumulated numerous awards and patents in the field of fertilizer technology [8][9]. - Jinzhengdai Group collaborates with international research institutions, such as the German Schnoor Institute, to integrate advanced agricultural technologies into the Chinese market [20][25]. - The introduction of the German Schnoor efficiency technology 2.0 is expected to significantly enhance fertilizer efficiency and contribute to sustainable agricultural practices [21][22]. Group 4: Future Outlook - Jinzhengdai Group aims to continue its mission of enhancing agricultural efficiency and farmer income while ensuring national food security and promoting sustainable agricultural development [23].

Core Viewpoint - The company held its third extraordinary general meeting of shareholders in 2025, where no new proposals were submitted, and all resolutions were passed as planned [2][3]. Meeting Details - The meeting was announced on December 13, 2025, through various financial news outlets [5]. - The meeting took place on December 30, 2025, at 15:30, with both on-site and online voting options available [6]. - The meeting was convened by the company's board of directors and chaired by the chairman, Mr. Li Yuxiao [7]. Attendance - A total of 404 shareholders participated in the meeting, representing 1,111,158,224 shares, which is 33.8146% of the company's total shares [8]. - Of these, one shareholder attended the on-site meeting, representing 982,547,392 shares (29.90%) [8]. - 403 shareholders participated via online voting, representing 128,610,832 shares (3.9139%) [9]. Resolutions Passed - The first resolution regarding the expected related party transactions for 2026 was approved with 1,084,350,251 shares in favor (97.5874%) [11]. - The second resolution concerning the provision of guarantees for subsidiary financing was also approved with 1,082,159,751 shares in favor (97.3902%) [11]. Legal Opinion - The legal opinion provided by Beijing Tongshang Law Firm confirmed that the meeting's procedures, attendance, and voting processes complied with relevant laws and the company's articles of association, deeming the results valid [12].

Group 1 - The company, Jinzhengda, announced that it will hold the third extraordinary general meeting of shareholders on December 30, 2025 [2] - The agenda includes the proposal for the expected daily related party transactions for the year 2026 [2]

2025年第三次临时股东会的法律意见书 致：金正大生态工程集团股份有限公司 北京市通商律师事务所接受金正大生态工程集团股份有限公司(以下简称 "公司")的委托，指派律师(以下简称"本所律师")出席了公司2025年第三次临 时股东会(以下简称"本次股东会")，并依据《中华人民共和国公司法》、《上 市公司股东会规则》(与《中华人民共和国公司法》统称"有关法律")、《金正 大生态工程集团股份有限公司章程》(以下简称"《公司章程》")及其他相关法 律、法规的规定，就公司本次股东会的召集、召开程序、出席会议人员的资格、 召集人资格、议案审议情况、表决程序和表决结果等有关事宜的合法性进行了审 核和见证。 中国北京建国门外大街 1 号国贸写字楼 2 座 12-15 层 100004 12-15th Floor, China World Office 2, No. 1 Jianguomenwai Avenue, Beijing 100004, China 电话 Tel: +86 10 6563 7181 传真 Fax: +86 10 6569 3838 电邮 Email: beijing@tongshang.com 网址 W ...

证券代码：002470 证券简称：金正大 公告编号：2025-049 金正大生态工程集团股份有限公司 2025年第三次临时股东会决议公告 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。 一、重要提示 1、本次会议没有增加、否决或变更提案的情况。 2、本次会议没有新提案提交表决。 3、本次股东会以现场投票、网络投票相结合的方式召开。 二、会议召开情况 （一）会议的通知：金正大生态工程集团股份有限公司（以下简称"公司"） 于2025年12月13日在《中国证券报》《上海证券报》《证券日报》《证券时报》 和巨潮资讯网刊登了会议通知。 （二）会议召开时间： 网络投票时间： 通过深圳证券交易所交易系统进行网络投票的时间为：2025年12月30日9:15 —9:25,9:30—11:30 和13:00—15:00； 通过深圳证券交易所互联网投票系统投票的时间为：2025年12月30日9:15 至15:00的任意时间。 （三）召开地点：山东省临沭县兴大西街19号公司会议室 （四）召集人：公司董事会 （五）主持人：公司董事长李玉晓先生 （六）会议召开方式：现场投票表决与网络投票 ...

Group 1 - The core stock price of Jinzhengdai fell by 2.21% on December 23, trading at 1.77 yuan per share, with a total market value of 5.816 billion yuan [1] - The company experienced a net outflow of main funds amounting to 1.5901 million yuan, with significant selling pressure observed [1] - Jinzhengdai's stock price has decreased by 9.69% year-to-date, with a slight increase of 2.31% over the last five trading days [1] Group 2 - As of September 30, Jinzhengdai reported a total revenue of 7.319 billion yuan for the first nine months of 2025, reflecting a year-on-year growth of 14.44% [2] - The company recorded a net profit attributable to shareholders of -29.4764 million yuan, a significant decrease of 116.36% compared to the previous period [2] - The number of shareholders decreased by 1.55% to 68,600, while the average circulating shares per person increased by 1.58% to 47,922 shares [2] Group 3 - Jinzhengdai has distributed a total of 1.227 billion yuan in dividends since its A-share listing, with no dividends paid in the last three years [3] - As of September 30, 2025, Hong Kong Central Clearing Limited is the fourth largest circulating shareholder, holding 21.7362 million shares, an increase of 2.3025 million shares from the previous period [3]

Core Viewpoint - The introduction of the German Schnorr Efficiency Technology 2.0 by Jinzhe Group marks a significant advancement in China's nitrogen fertilizer industry, aiming to break the long-standing price competition and promote high-quality development through technology and ecological priorities [2][9]. Group 1: Industry Challenges - The domestic nitrogen fertilizer industry faces dual challenges: structural overcapacity and low nitrogen utilization rates, with production capacity expected to reach 73.8 million tons by 2025, while effective market demand is only around 65.5 million tons, leading to a supply-demand imbalance [5][6]. - Traditional nitrogen utilization rates in China range from 30% to 42.6%, significantly lower than developed countries, resulting in over 60% of nitrogen being wasted, which exacerbates agricultural costs and environmental issues [5][6]. Group 2: Need for Transformation - The industry must transition from a focus on cost competition to value creation to unlock broader development opportunities [6]. - The shift from price competition to value enhancement is not optional but essential for survival, as highlighted by the increasing demand for high-quality, efficient, and environmentally friendly nitrogen fertilizers, which is growing at over 15% annually [7]. Group 3: Technological Advancements - The German Schnorr Efficiency Technology 2.0, introduced by Jinzhe Group, enhances nitrogen fertilizer efficiency, potentially increasing utilization rates to over 65%, while reducing fertilizer application and agricultural production costs [9][11]. - This technology aligns with the long-term goals of green, low-carbon, and efficient development in the nitrogen fertilizer industry, addressing issues of soil degradation and environmental pollution [9][16]. Group 4: Strategic Collaborations - Strategic partnerships have been formed between Jinzhe Group, Mingquan Group, and Hebei Dongguang Chemical, focusing on the large-scale application of the new technology through a shared model that includes capacity, technology, marketing, and data [13][14]. - The collaboration aims to create a "technology + capacity + market" synergy, leveraging the strengths of each partner to drive innovation and market penetration [14][24]. Group 5: Future Outlook - The implementation of the Schnorr Efficiency Technology 2.0 is expected to resolve the overcapacity issue in the nitrogen fertilizer industry and enhance agricultural production efficiency, addressing long-standing problems of low utilization and environmental pollution [16][24]. - This model not only capitalizes on China's production scale and complete industrial chain but also offers a replicable solution for nitrogen fertilizer industry upgrades in developing countries [24].

Core Viewpoint - The slow-release compound fertilizer industry is experiencing significant growth driven by government policies promoting efficient and environmentally friendly fertilizers, with a projected market size of 312.7 billion yuan in China by 2024, and a compound annual growth rate (CAGR) of over 5% expected for production by 2025 [1][10]. Group 1: Industry Overview - Slow-release compound fertilizers utilize physical, chemical, or biological technologies to precisely control nutrient release, matching crop needs and improving nutrient utilization rates by 30%-50% [1][2]. - The industry is transitioning from economic crops to field crops, with the market for slow-release fertilizers expected to expand significantly due to their comprehensive advantages [1][10]. - The Chinese fertilizer market is projected to reach 312.7 billion yuan in 2024, with compound fertilizers accounting for nearly 50% of the application volume, solidifying their role as a market core [1][10]. Group 2: Policy Environment - The Chinese government has implemented multiple policies to encourage the development of efficient and environmentally friendly fertilizers, positioning slow-release compound fertilizers as a key component in promoting agricultural green development [1][6]. - Key policy documents include the "Action Plan for Reducing Chemical Fertilizer Use by 2025" and the "Guidelines for Promoting Agricultural Modernization," which collectively support the growth of the slow-release fertilizer sector [1][6]. Group 3: Industry Chain - The industry chain consists of upstream suppliers of nitrogen, phosphorus, potassium fertilizers, and coating materials, with midstream production focused on slow-release fertilizer manufacturers utilizing various technologies [1][8]. - The downstream application primarily serves agriculture, with nearly half of the demand coming from economic crops, while non-agricultural sectors like landscaping are also emerging [1][8]. Group 4: Competitive Landscape - The industry is characterized by a competitive landscape dominated by leading companies such as Kingenta, Stanley, and Ba Tian, which leverage technology and scale to establish market barriers [1][11]. - These leading firms are innovating in areas such as biodegradable coating technology and specialized fertilizers tailored to crop growth stages, enhancing their competitive edge [1][11]. Group 5: Future Trends - The slow-release compound fertilizer industry is expected to evolve towards precision technology, market structure optimization, and global collaboration, focusing on biodegradable materials and smart technology integration [1][12]. - The dual drive of policy and market demand will continue to shape the industry, leading to increased concentration and a shift towards specialized and functional products [1][14]. - Companies are likely to expand their applications beyond traditional agriculture into areas like ecological restoration, enhancing growth opportunities [1][15].

Core Viewpoint - The collaboration between Jinzhe Group and leading domestic urea producers aims to promote the application of German Schneider's efficiency-enhancing technology in the nitrogen fertilizer sector, addressing industry challenges such as overcapacity and environmental pressures [1][2]. Industry Challenges - The nitrogen fertilizer industry, particularly urea, faces significant challenges including overcapacity and stringent environmental policies, making transformation essential for survival [2][4]. - Over the past three years, over ten strict environmental policies have been implemented, leading to the elimination of outdated production capacity, while the demand for high-quality, environmentally friendly nitrogen fertilizers has been growing at an annual rate exceeding 15% [2][4]. Technological Innovation - The German Schneider efficiency-enhancing technology 2.0 focuses on controlling nitrogen release rates to better match crop nutrient needs, potentially increasing nitrogen utilization rates to over 65% [4]. - This technology aims to achieve dual goals of "reducing input while increasing efficiency and protecting soil while increasing income" [4]. Strategic Collaboration - Jinzhe Group plans to deepen cooperation with Mingquan Group through a "five-sharing" model, which includes sharing capacity, technology, market solutions, digital communication, and demonstration data [4]. - The collaboration forms a synergistic combination of "technology + capacity + market," with Schneider providing core technology, Jinzhe leveraging market and agricultural service advantages, and Dongguang Chemical focusing on industrial production transformation [4]. Industry Transformation - The collaboration signifies a shift in the competitive focus from price and scale to technological content, product quality, and ecological value, which may alleviate current overcapacity pressures in the nitrogen fertilizer industry [7]. - This model provides a reference framework for the green upgrade of traditional industries in China and other developing countries [7].

Core Insights - The conference "Shared Win: Nitrogen Fertilizer Efficiency Technology Joint Cooperation and Application Summit" was held in Tai'an, Shandong, where Jinzhe Group signed strategic cooperation agreements with leading domestic urea producers to promote the application of German Schnorr's efficiency technology 2.0 in the nitrogen fertilizer sector, addressing industry challenges of overcapacity and environmental pressures [1][2] Industry Challenges - The nitrogen fertilizer industry, particularly urea, faces significant challenges, including internal price pressures from overcapacity and external constraints from strict environmental policies. The industry must transition to survive, as highlighted by the China Nitrogen Fertilizer Industry Association [2] - Over the past three years, more than ten stringent environmental policies have been implemented, leading to the elimination of outdated production capacity. The demand for high-quality, environmentally friendly nitrogen fertilizers is growing at an annual rate exceeding 15% [2] Technological Advancements - The German Schnorr efficiency technology 2.0 aims to enhance nitrogen utilization efficiency to over 65% by controlling the release rate of nitrogen to better match crop nutrient needs throughout their growth cycles. This technology is expected to achieve both reduced input costs and increased yields while minimizing environmental impact [5] - Jinzhe Group's president emphasized the potential for significant upgrades in basic fertilizers through advanced technology, which can help farmers lower costs and increase profits [5] Collaborative Efforts - The collaboration involves a "five-sharing" model, where partners share production capacity, technology, market solutions, digital communication, and demonstration data. Mingquan Group plans to add 5 million tons of large particle urea capacity within three years [5] - The partnership creates a synergistic combination of technology, production capacity, and market access, with each company playing a specific role: Schnorr provides core technology, Jinzhe Group offers market and agricultural services, and Dongguang Chemical focuses on industrial production [5] Strategic Implications - This collaboration represents a transformative model centered on technology, shifting the competitive focus from price and scale to technological content, product quality, and ecological value. It aims to alleviate overcapacity pressures in the nitrogen fertilizer industry and serves as a reference framework for green upgrades in traditional industries in China and other developing countries [7]