证券日报网讯 云图控股（002539）9月12日发布公告，在公司回答调研者提问时表示，2025年上半年， 公司磷复肥产品实现营收72.22亿元，同比增长21.55%。受益于渠道精耕和市场营销发力，公司磷复肥 产品销量实现同比增长，同时磷复肥产品结构优化也是推动磷复肥业务增长的关键因素。公司依托完善 的氮、磷产业链及技术研发优势，持续推动磷复肥产品结构向新型化、功能化、高附加值方向发展，上 半年公司新型肥料、水溶性磷铵、工业级磷铵等高毛利产品占比有所提升。 ...

Core Viewpoint - The company emphasizes the advantages of new fertilizers over traditional compound fertilizers, highlighting improved nutrient release, precision in application, and functionality, which enhance fertilizer efficiency and reduce nutrient loss [1] Group 1: Product Development - The company is focusing on high-efficiency, precision, and functional fertilizers to enhance product competitiveness [1] - In the first half of the year, the market share of new fertilizers has steadily increased [1] - The company is leveraging its full industry chain advantages to continuously improve efficiency and iterate products [1] Group 2: Research and Innovation - The company is concentrating on three main directions: "special fertilizers," "efficiency-enhancing fertilizers," and "crop-specific fertilizers," launching multiple innovative products to better meet end-user demands [1] Group 3: Market Promotion - The company is enhancing its market influence and promoting terminal sales conversion through participation in authoritative industry events and creating unique IP activities [1]

Group 1 - The core viewpoint of the article emphasizes the increasing importance of compound fertilizers in ensuring food security amid global challenges [1] - The company highlights that national policies are continuously strengthening land protection, stable grain production, and fertilizer supply and price stability [1] - The demand for compound fertilizers is steadily increasing, showcasing its rigid demand characteristics [1] Group 2 - The expansion of land transfer and the acceleration of agricultural modernization in China are enhancing the role of compound fertilizers in improving soil fertility and ensuring stable grain production [1] - The company remains optimistic about the development prospects of the compound fertilizer industry [1]

证券日报网讯 云图控股（002539）9月12日发布公告，在公司回答调研者提问时表示，公司复合肥产能 布局遵循"靠近资源、靠近市场"的原则，目前生产基地已覆盖湖北应城、荆州、宜城，四川雷波、眉 山，河南宁陵，山东平原，辽宁铁岭，黑龙江肇东、佳木斯，新疆昌吉等地区，同时正在推进广西贵 港、新疆阿克苏两个新基地的建设，全国产能布局完善。此外，公司在马来西亚设有生产基地，保障东 南亚市场供应。公司现有复合肥年产能约755万吨，在建产能130万吨。依托全国布局及基地区位优势， 公司不仅能够保障原料供应和成本优势，还能快速响应市场需求。未来新增产能充分释放后，公司复合 肥的规模优势将进一步显现，为做大做强复合肥主业奠定基础。 ...

Production Capacity and Market Layout - The company has a total compound fertilizer production capacity of approximately 7.55 million tons, with an additional 1.3 million tons under construction [2][3] - Production bases are strategically located across various regions in China, including Hubei, Sichuan, Henan, Shandong, Liaoning, Heilongjiang, and Xinjiang, as well as a production base in Malaysia for Southeast Asia market supply [2][3] Sales Performance and Growth - In the first half of 2025, the company's phosphate fertilizer products generated revenue of 7.222 billion yuan, reflecting a year-on-year growth of 21.55% [3] - The growth in phosphate fertilizer sales is attributed to channel refinement, marketing efforts, and product structure optimization towards high-margin products [3][4] New Fertilizer Development - New fertilizers offer advantages over traditional fertilizers in nutrient release, application precision, and functionality, leading to improved fertilizer efficiency and reduced nutrient loss [4] - The market share of new fertilizers has steadily increased, driven by the company's focus on high-efficiency, precision, and functional products [4] Market Outlook - The company remains optimistic about the compound fertilizer market, citing strong demand driven by national policies supporting farmland protection and food security [5] - The role of compound fertilizers in enhancing soil fertility and ensuring stable food production is increasingly recognized [5] Phosphate Acid and Mining Operations - The company has developed leading technology for graded utilization of phosphoric acid, establishing an integrated industry chain from phosphate rock to various phosphate products [7] - The company owns three phosphate mines in Sichuan with a total resource reserve of approximately 549 million tons and is advancing mining capacity of 6.9 million tons per year [8] Synthetic Ammonia Project - The company is constructing a 700,000-ton synthetic ammonia project in Hubei, which will support the production of various fertilizers and is on track for completion [9] - Once operational, the project will enhance self-sufficiency in nitrogen fertilizer raw materials, reduce production costs, and improve market competitiveness [9]

Market Performance - The agricultural chemical sector increased by 0.64% on September 11, with Dongfang Tieta leading the gains [1] - The Shanghai Composite Index closed at 3875.31, up 1.65%, while the Shenzhen Component Index closed at 12979.89, up 3.36% [1] Stock Performance - Dongfang Tieta (002545) closed at 12.96, up 6.23% with a trading volume of 487,700 shares and a transaction value of 623 million [1] - Bai'ao Chemical (603360) closed at 25.20, up 2.56% with a trading volume of 150,100 shares and a transaction value of 373 million [1] - Other notable stocks include Yaji International (000893) at 38.46, up 2.04%, and Beisimei (300796) at 10.53, up 2.03% [1] Capital Flow - The agricultural chemical sector experienced a net outflow of 281 million from institutional investors, while retail investors saw a net inflow of 153 million [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Individual Stock Capital Flow - Yanhai Co. (000792) had a net inflow of 99.18 million from institutional investors, while it faced a net outflow of 62.99 million from speculative funds [3] - Bai'ao Chemical (603360) saw a net inflow of 18.38 million from institutional investors but a net outflow of 24.29 million from speculative funds [3] - Guotian Co. (002170) had a net inflow of 8.12 million from institutional investors, with a significant net inflow of 46.84 million from speculative funds [3]

Group 1 - On September 9, Yuntu Holdings experienced a decline of 1.81% with a trading volume of 287 million yuan, and the net financing purchase was 3.85 million yuan [1] - As of September 9, the total margin balance for Yuntu Holdings was 344 million yuan, with a financing balance of 343 million yuan, accounting for 2.49% of the circulating market value, indicating a high level compared to the past year [1] - The company primarily engages in the production and sales of various compound fertilizers, with revenue composition being 63.35% from phosphate fertilizers, 18.85% from trade, 12.57% from chemicals, and 5.23% from other sources [1] Group 2 - As of June 30, the number of shareholders for Yuntu Holdings was 49,700, a decrease of 14.42%, while the average circulating shares per person increased by 16.60% to 17,747 shares [2] - For the first half of 2025, Yuntu Holdings reported a revenue of 11.4 billion yuan, a year-on-year increase of 3.59%, and a net profit attributable to shareholders of 511 million yuan, reflecting a growth of 12.60% [2] - Since its A-share listing, Yuntu Holdings has distributed a total of 2.352 billion yuan in dividends, with 845 million yuan distributed over the past three years [3]

每经AI快讯，有投资者在投资者互动平台提问：储能产业目前消息不断，注意到2025年3月，云图熔盐 科技年产10万吨复合熔盐生产线项目获批。公司生产的熔盐产品可用储能方面，希望公司能把握当下储 能产业发展时机，并透露下在这方面的布局或订单情况。 （文章来源：每日经济新闻） 云图控股（002539.SZ）9月9日在投资者互动平台表示，1、公司控股子公司湖北云图熔盐科技有限公司 专注于高品质熔盐材料的研发与销售，在建年产10万吨复合熔盐项目，目前项目按计划有序推进中。 2、公司在湖北应城自有2.5亿吨盐矿资源，并已建成"盐-碱-肥"完整产业链，拥有纯碱、氯化铵年产能 60万双吨，硝酸钠和亚硝酸钠年产能10万吨，为公司拓展熔盐业务奠定了良好基础。公司将根据市场需 求稳步推进熔盐业务。 ...

Group 1 - The core viewpoint of the article is that Yuntu Holdings (002539.SZ) is actively engaged in the production of iron phosphate, which is primarily used in the preparation of lithium iron phosphate for lithium battery cathodes, with applications in both power batteries and energy storage batteries [2] - The company has established stable partnerships with leading clients such as Tinci Materials Technology, Taifeng Xianxing, Honeycomb Energy, and Zhongchuang Innovation航, indicating a strong market position and demand for its products [2]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has shown steady growth in revenue and profit margins in the first half of 2025, with a revenue of 11.4 billion yuan, a year-on-year increase of 3.59%, and a net profit of 511 million yuan, a year-on-year increase of 12.60% [4][14] - The company is enhancing its integrated advantages in the nitrogen and phosphorus industry chain, with significant progress in upstream resource projects [12][14] Financial Performance - In the first half of 2025, the company's conventional compound fertilizer revenue reached 3.241 billion yuan, up 10.36% year-on-year, while new compound fertilizers and phosphorus fertilizers saw revenue of 3.981 billion yuan, up 32.50% year-on-year [5] - The company's net cash flow from operating activities in the first half of 2025 was 859 million yuan, a decrease of 1.11% year-on-year [5] - In Q2 2025, the company achieved revenue of 5.689 billion yuan, a year-on-year decrease of 5.99%, but the net profit attributable to shareholders increased by 6.94% year-on-year to 257 million yuan [6][7] Market Performance - The company's stock has outperformed the CSI 300 index over various time frames, with a 1-month performance of 2.3%, 3-month performance of 33.4%, and a 12-month performance of 56.4% [8] Future Outlook - The company is expected to see revenue growth of 24.1 billion yuan in 2025, 26.3 billion yuan in 2026, and 28.2 billion yuan in 2027, with net profits projected at 1 billion yuan, 1.5 billion yuan, and 1.9 billion yuan respectively [14][16] - The company's integrated strategy in the nitrogen and phosphorus industry chain is expected to further enhance its competitive advantages as it completes its upstream projects [12][14]