Core Insights - The company reported a revenue of 15.652 billion RMB for FY 2024, a decrease of 12% year-on-year, while the net profit attributable to shareholders was 169 million RMB, an increase of 121% year-on-year [1] - For Q1 2025, the company achieved a revenue of 3.664 billion RMB, a decrease of 4% year-on-year, with a non-recurring net profit of 53 million RMB, a significant increase of 240% year-on-year [1] - The company plans to distribute a cash dividend of 2 RMB per 10 shares to all shareholders [1] Financial Performance - FY 2024 revenue breakdown: Agricultural inputs 11.6 billion RMB, fine chemicals 1.2 billion RMB, and agricultural by-products and others 2.4 billion RMB, with year-on-year changes of -10%, +7%, and +7% respectively [1] - Gross margin for agricultural inputs, fine chemicals, and agricultural by-products was 5%, 17%, and 4%, with year-on-year changes of +0.7 percentage points, +5.7 percentage points, and -1.9 percentage points respectively [1] Business Strategy - The company is focusing on technological upgrades, capacity expansion, and cost reduction to enhance efficiency, with a recovery in the fertilizer industry [1] - The agricultural input and fine chemical sectors are expected to benefit from stable core channel resources and a solid distribution network, particularly during the spring plowing season [1] - The company is implementing a strategy of "deepening domestic and expanding overseas" in its pesticide business and enhancing its agricultural service system [2] Future Outlook - The company aims to strengthen collaboration and improve quality and efficiency, leveraging its integrated operations and brand advantages [2] - Key projects include the expansion of mint alcohol production capacity, biomass heating projects, and the expansion of sulfuric acid production lines [2] - Project construction is seen as a way to cultivate new growth points and stimulate new momentum [2] Investment Recommendation - The projected net profit attributable to shareholders for 2025-2027 is estimated at 200 million RMB, 270 million RMB, and 380 million RMB respectively, maintaining a "recommended" rating [3]

Investment Rating - The investment rating for the company is "Buy" [1] Core Insights - The company reported a significant increase in non-recurring net profit, up 240.44% year-on-year, indicating strong resilience in its core business despite a slight decline in overall revenue [2][3] - The agricultural input business demonstrated robust profitability, with a slight revenue decline but an increase in gross margin, showcasing the effectiveness of the integrated supply chain strategy [4] - The fine chemicals segment performed well, with revenue growth and improved gross margins, contributing significantly to the company's profit [5] Summary by Sections Financial Performance - In Q1 2025, the company achieved revenue of 3.664 billion yuan, a year-on-year decrease of 3.51%, and a net profit attributable to shareholders of 82 million yuan, down 25.92%. However, the non-recurring net profit reached 53 million yuan, reflecting a substantial increase of 240.44% year-on-year [2][3] Business Segments - The agricultural input segment generated revenue of 11.560 billion yuan in 2024, showing a decline but with a gross margin increase of 0.66 percentage points to 5.14%, indicating enhanced profitability [4] - The fine chemicals segment reported revenue of 1.248 billion yuan in 2024, up 6.50%, with a gross margin increase of 5.73 percentage points to 16.85%, highlighting its role as a key profit driver [5] Investment Recommendations - The company is expected to maintain strong operational resilience in its agricultural input business due to its integrated supply chain strategy and established market position [6] - The fine chemicals segment is projected to continue contributing significant profit growth, supported by cost advantages and market expansion [6] - New projects, such as the chlorantraniliprole active ingredient, are anticipated to provide additional growth potential [6] Financial Forecasts - The revenue forecast for 2025 has been adjusted to 16.966 billion yuan, with net profit expectations revised to 210 million yuan. The earnings per share (EPS) forecast for 2025 is now 0.22 yuan [7][9]

证券代码:002556 证券简称:辉隆股份 公告编号:2025-028 安徽辉隆农资集团股份有限公司 关于举办 2024 年度网上业绩说明会的公告 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。 安徽辉隆农资集团股份有限公司（以下简称"公司"）于 2025 年 4 月 17 日发布了公司《2024 年年度报告》及《2024 年年度报告摘要》。为 便于广大投资者更加全面深入地了解公司经营业绩、发展战略等情况，公 司定于 2025 年 4 月 30 日（星期三）15:00-17:00 在"价值在线" （www.ir-online.cn）举办公司 2024 年度网上业绩说明会。现将具体事 项公告如下： 一、会议召开时间：2025 年 4 月 30 日（星期三）15:00-17:00 二、出席人员：公司董事长、总经理程诚女士，董事、副总经理、财 务负责人胡鹏女士，董事、董事会秘书徐敏女士，独立董事张璇女士（如 遇特殊情况，参会人员可能进行调整）。 三、会议召开方式：网络远程方式。 投资者可于 2025 年 4 月 30 日（星期三）15:00-17:00 通过网址 h ...

安徽辉隆农资集团股份有限公司 关于控股公司减资暨关联交易的公告 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。 一、关联交易概述 （一）关联交易事项 安徽辉隆农资集团股份有限公司（以下简称"辉隆股份"或"公司"） 下属公司安徽韶华生物科技有限公司（以下简称"韶华生物"）基于业 务战略规划及聚焦核心业务发展的需要，拟通过定向减资的方式减少注 册资本5,500万元，其中，安徽海华科技集团有限公司减资2,800万元， 合肥海策企业管理合伙企业（有限合伙）减资800万元，蚌埠海成企业管 理合伙企业（有限合伙）减资692.50万元，蚌埠海梦企业管理合伙企业 （有限合伙）减资1,207.50万元。减资完成后，注册资本由6,000万元减 少至500万元。 证券代码:002556 证券简称:辉隆股份 公告编号:2025-026 （二）关联关系 上述韶华生物股东合肥海策企业管理合伙企业（有限合伙）由公司 时任董事、管理层及核心骨干成员共同出资设立，且其执行事务合伙人 为公司现任董事、董事会秘书徐敏女士。根据《深圳证券交易所股票上 市规则》的相关规定，本次减资属于公司对与关联方共 ...

安徽辉隆农资集团股份有限公司 关于 2024 年年度股东大会增加临时提案暨 股东大会补充通知的公告 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。 安徽辉隆农资集团股份有限公司（下称"公司"）于 2025 年 4 月 17 日披露了《公司关于召开 2024 年年度股东大会的通知》（公告编号：2024- 022），公司将于 2025 年 5 月 13 日召开 2024 年年度股东大会。 2025 年 4 月 23 日，公司召开第六届董事会第五次会议，审议通过了 《公司关于控股公司减资暨关联交易的议案》。同日，公司董事会收到控 股股东安徽辉隆投资集团有限公司（以下简称"辉隆投资"）提交的《关 于辉隆股份 2024 年年度股东大会增加临时提案的提议函》，提议将上述 议案以临时提案的方式提交至 2024 年年度股东大会审议。 证券代码:002556 证券简称:辉隆股份 公告编号:2025-027 经核查，截至本公告发布日，辉隆投资持有公司股份 357,244,325 股， 占公司股份总数的 37.74%，具备提案资格，其提出临时提案的程序、临时 提案的内容符合法律、行 ...

证券代码:002556 证券简称:辉隆股份 公告编号:2025-024 安徽辉隆农资集团股份有限公司 第六届监事会第五次会议决议 本公司及监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、会议以 3 票同意，0 票反对，0 票弃权，审议通过了《公司 2025 年第一季度报告》。 监事会认为：董事会编制和审核《公司 2025 年第一季度报告》的程 序符合法律、行政法规和中国证监会的规定，报告内容真实、准确、完整 地反映了公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗 漏。 二、审议《公司关于控股公司减资暨关联交易的议案》。 监事会认为：本次减资事项是根据企业经营现状做出的审慎决策， 依据市场价格公平、合理地确定交易金额，决策程序符合有关法律、法 规及《公司章程》的规定，不存在损害公司和全体股东利益的行为，未 对公司未来的财务状况、经营成果及独立性产生负面影响。 特此公告。 因公司全体监事参与此次关联交易，对本议案回避表决，监事会对本 议案无法形成有效决议。本议案尚需提交公司 2024 年年度股东大会审议。 三、备查文件 第六届监事会第五次会议决议。 1 安徽 ...

证券代码:002556 证券简称:辉隆股份 公告编号:2025-023 二、会议以 5 票同意，0 票反对，0 票弃权，审议通过了《公司关于 控股公司减资暨关联交易的议案》。 此议案关联人程诚女士、汪本法先生、胡鹏女士、徐敏女士回避表决。 本议案已经公司独立董事专门会议审议通过，尚需提交公司 2024 年年度 股东大会审议。 安徽辉隆农资集团股份有限公司 第六届董事会第五次会议决议 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。 安徽辉隆农资集团股份有限公司（下称"公司"）第六届董事会第五 次会议通知于 2025 年 4 月 17 日以送达和通讯方式发出，并于 2025 年 4 月 23 日以通讯表决的方式召开。本次会议应到 9 位董事，实到 9 位董事。 会议的召开符合《公司法》和《公司章程》的有关规定，会议通过以下议 案： 一、会议以 9 票同意，0 票反对，0 票弃权，审议通过了《公司 2025 年第一季度报告》； 本议案已经董事会审计委员会审议通过。 《公司 2025 年第一季度报告》详见信息披露媒体《证券时报》《中国 证券报》《上海证券报》和巨潮资讯 ...

本资产评估报告依据中国资产评估准则编制 安徽韶华生物科技有限公司 拟进行股权结构调整涉及的 股东全部权益价值评估项目 资 产 评 估 报 告 坤元评报〔2025〕85 号 （共一册 第一册） 坤元资产评估有限公司 2025 年 2 月 26 日 | 报告编码: | 3333020001202500092 | | | --- | --- | --- | | 合同编号: | H-HZ25-000208 | | | 报告类型: | 法定评估业务资产评估报告 | | | 报告文号: | 坤元评报(2025) 85号 | | | 报告名称: | 安徽韶华生物科技有限公司拟进行股权结构调整涉及的股东全部 | | | | 权益价值评估项目资产评估报告 | | | 评估结论: | 44,755,104.50元 | | | 评估报告日 : | 2025年02月26日 | | | 评估机构名称: | 坤元资产评估有限公司 | | | 签名人员: | 章陈秋 (资产评估师) | 正式会员 编号:33100007 | | | 袁舒故 (资产评估师) | 正式会员 编号:33190043 | | | Ellight State | | ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥3,663,742,615.58, a decrease of 3.51% compared to ¥3,797,142,465.59 in the same period last year[3] - Net profit attributable to shareholders decreased by 25.92% to ¥81,859,779.30 from ¥110,495,180.16 year-on-year[3] - The net profit excluding non-recurring gains and losses increased by 240.44% to ¥52,947,204.13, compared to ¥15,552,603.02 in the previous year[3] - Net profit for the current period was ¥86,878,153.59, a decline of 24.66% compared to ¥115,208,448.02 in the previous period[22] - Earnings per share (EPS) for the current period was ¥0.09, down from ¥0.12 in the previous period[23] - The total comprehensive income for the current period was ¥87,047,831.42, down from ¥115,715,766.54 in the previous period, reflecting overall performance challenges[23] Cash Flow - The net cash flow from operating activities improved by 64.59%, reaching -¥222,562,467.53, compared to -¥628,583,355.80 in the same period last year[3] - Cash flow from operating activities showed a net outflow of ¥222,562,467.53, an improvement from a net outflow of ¥628,583,355.80 in the previous period[24] - The net cash flow from investment activities was 12,698,273.21, compared to 290,051,934.57 in the previous period, indicating a significant decrease[25] - The total cash inflow from financing activities was 819,274,044.95, down from 1,182,263,387.22 in the previous period[25] - The net cash flow from financing activities was 110,684,743.44, a decrease from 518,348,036.92 in the previous period[25] - The cash and cash equivalents at the end of the period amounted to 390,090,708.94, down from 747,751,199.75 in the previous period[25] - The company's cash flow from investment activities decreased by 95.62%, indicating a reduction in cash received from investment recoveries[12] - The company's cash flow from financing activities decreased by 78.65%, primarily due to a reduction in cash received from borrowings[12] Assets and Liabilities - Total assets increased by 6.00% to ¥11,474,735,906.45 from ¥10,824,814,049.54 at the end of the previous year[3] - Current assets totaled CNY 6.73 billion, up from CNY 6.04 billion, indicating an increase of about 11.5%[18] - Total liabilities amounted to CNY 7.56 billion, compared to CNY 6.99 billion previously, reflecting an increase of approximately 8.1%[19] - Short-term borrowings rose to CNY 1.02 billion from CNY 874.12 million, an increase of about 16.1%[19] - Non-current assets totaled CNY 4.74 billion, slightly down from CNY 4.79 billion, indicating a decrease of about 0.7%[19] Receivables and Inventories - Accounts receivable increased by 77.73% compared to the end of the previous year, attributed to new receivables not yet due[6] - Accounts receivable rose significantly to CNY 809.98 million from CNY 455.73 million, marking an increase of around 77.5%[18] - Inventory levels increased to CNY 3.21 billion from CNY 2.99 billion, representing a growth of about 7.4%[18] - Contract liabilities grew by 41.64%, reflecting an increase in advance payments received for goods[8] - The company reported a significant increase in contract liabilities, which rose to CNY 1.21 billion from CNY 851.83 million, a growth of approximately 42%[19] Other Financial Metrics - The company reported a significant decrease of 71.30% in investment income, primarily due to reduced dividends from other non-current financial assets[10] - The company reported a decrease in research and development expenses to ¥31,080,221.78, down from ¥37,336,126.22 in the previous period, reflecting a focus on cost management[21] - Other income decreased to ¥39,198,814.48 from ¥54,529,106.27 in the previous period, indicating a decline in ancillary revenue sources[21] - The company recorded a foreign exchange loss of ¥5,105,120.00, contrasting with a gain of ¥175,980.00 in the previous period, impacting overall profitability[22] Shareholder Information - The company has a share repurchase account holding 27,381,678 shares as of the reporting period[16] Accounting Changes - The new accounting standards will be implemented starting in 2025, affecting the financial statements[27] - The company did not undergo an audit for the first quarter report[26]

Core Viewpoint - The company, HuiLong Co., Ltd., reported a decline in revenue but a significant increase in net profit, showcasing resilience through its integrated "industry-trade-service" strategy [1] Group 1: Financial Performance - In 2024, the company achieved an operating income of 15.652 billion yuan, a year-on-year decrease of 12.23% [1] - The net profit attributable to shareholders reached 169 million yuan, marking a substantial year-on-year increase of 120.71% [1] Group 2: Business Strategy and Market Position - HuiLong Co., Ltd. is deeply integrated into the national rural revitalization strategy, focusing on serving agriculture and ensuring food security [2] - The company has expanded its distribution network, establishing 79 distribution centers and 4,235 franchise stores across 20 major agricultural provinces and regions [2] - The "distribution center + franchise store" model has been upgraded to enhance market influence and mitigate risks from market fluctuations [2] Group 3: Product Development and Innovation - The company has developed six major fertilizer and pesticide production bases and launched its own brands, achieving an annual production and sales capacity of over one million tons for compound fertilizers [3] - HuiLong Co., Ltd. has implemented a comprehensive agricultural service model, providing a full industry chain service to farmers, which has led to profitability in all 11 agricultural service centers [3] Group 4: Technological Advancement - The company has increased its R&D investment to 1.3 million yuan in 2024, a year-on-year growth of 10.38% [4] - It has developed an agricultural comprehensive service management platform that integrates various digital tools for precision agriculture, significantly improving production efficiency [4] Group 5: Strategic Expansion - The company has entered the fine chemical and flavor industry through the acquisition of Haihua Technology, breaking a long-standing foreign technology monopoly [5] - The expansion project for mint alcohol production is set to increase capacity from 3,000 tons to 5,000 tons per year, enhancing market competitiveness [5] - HuiLong Co., Ltd. aims to strengthen its core technology and optimize production processes to maintain its leading position in the industry [5]