Investment Rating - The report maintains an "Outperform" rating for the agricultural chemical industry [4][8]. Core Viewpoints - The agricultural chemical industry is experiencing upward price trends in potassium and glyphosate, with an expanding price gap for phosphate exports [1][3]. - The supply-demand balance for potassium fertilizer is tight, with international prices continuing to rise, while domestic production is expected to decrease slightly in 2024 [1][23]. - The phosphate chemical sector is expected to maintain a high price level due to the scarcity of resources and increasing demand from new applications such as lithium iron phosphate [2][46]. - The pesticide sector is anticipated to see a recovery as the "rectification and reform" initiative progresses, with demand increasing due to rising agricultural planting areas in South America [3][4]. Summary by Sections Potassium Fertilizer - The global potassium fertilizer market is characterized by a supply-demand imbalance, with China being the largest consumer and an import dependency exceeding 60% [1][23]. - Domestic potassium chloride production is projected to be 5.5 million tons in 2024, a decrease of 2.7% year-on-year, while imports are expected to reach a record high of 12.633 million tons, up 9.1% [1][23]. - The average price of potassium chloride in July rose from 3,239 CNY/ton to 3,399 CNY/ton, stabilizing at 3,230 CNY/ton by the end of the month [1][40]. Phosphate Chemicals - The long-term price center for phosphate rock is expected to remain high due to declining grades and increasing extraction costs, with the market price for 30% grade phosphate rock remaining above 900 CNY/ton for over two years [2][46]. - As of July 31, 2025, the price for 30% grade phosphate rock in Hubei was 1,040 CNY/ton, while in Yunnan it was 970 CNY/ton, both stable compared to the previous month [2][46]. - The price gap between domestic and international phosphate fertilizers has widened, benefiting companies with export quotas [3][46]. Pesticides - The pesticide sector is entering a recovery phase, with demand driven by increased agricultural planting areas in South America [3][4]. - The pesticide price index has seen a significant decline over the past three years, but demand is expected to strengthen as inventory levels are replenished [3][4]. - Key companies in the pesticide sector include Yangnong Chemical and Lier Chemical, which are recommended for investment [4][8].

| 股票代码：002734 | 股票简称：利民股份 | 公告编号：2025-066 | | --- | --- | --- | | 债券代码：128144 | 债券简称：利民转债 | | 利民控股集团股份有限公司 关于利民转债预计触发赎回条件的提示性公告 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。 特别提示： （三）可转债转股期限 根据《利民控股集团股份有限公司公开发行可转换公司债券募集说明书》（以 下简称"《募集说明书》"）相关约定，本次发行的可转债转股期限自可转债发行结 自 2025 年 7 月 24 日至 2025 年 8 月 5 日，利民控股集团股份有限公司（以下 简称"公司"）股票已有 9 个交易日的收盘价不低于 "利民转债"当期转股价格（即 8.10 元/股）的 130%（即 10.53 元/股），预计后续可能触发"利民转债"有条件 赎回条款。根据《公司公开发行可转换公司债券募集说明书》（以下简称《募集说 明书》）中有条件赎回条款的相关规定，届时公司董事会有权决定是否按照债券面 值加当期应计利息的价格赎回全部或部分未转股的"利民转债"。敬请广大 ...

证券之星消息，8月5日农化制品板块较上一交易日上涨0.34%，丰山集团领涨。当日上证指数报收于 3617.6，上涨0.96%。深证成指报收于11106.96，上涨0.59%。农化制品板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603810 | 丰山集团 | 17.27 | 3.85% | 3.14万 | 5362.57万 | | 002734 | 利民股份 | 21.88 | 2.87% | 59.84万 | 12.96ZZI | | 000422 | 湖北宣化 | 13.54 | 2.19% | 27.13万 | 3.63亿 | | 000902 | 新洋丰 | 14.40 | 1.91% | 10.80万 | 1.55亿 | | 300387 | 富邦科技 | 9.54 | 1.81% | 9.53万 | 9061.10万 | | 002545 | 东方铁塔 | 9.86 | 1.75% | 11.65万 | 1.15亿 | | 002470 | 金正大 | 1.7 ...

8月4日，沪深两融数据显示，利民股份获融资买入额1.41亿元，居两市第153位，当日融资偿还额0.75亿 元，净买入6635.76万元。 融券方面，当日融券卖出0.00万股，净卖出0.00万股。 最近三个交易日，31日-4日，利民股份分别获融资买入1.18亿元、1.02亿元、1.41亿元。 ...

证券之星消息，8月4日农化制品板块较上一交易日上涨0.36%，百傲化学领涨。当日上证指数报收于 3583.31，上涨0.66%。深证成指报收于11041.56，上涨0.46%。农化制品板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 603360 | 百傲化学 | 21.09 | 5.24% | 21.79万 | 4.57亿 | | 002734 | 利民股份 | 21.27 | 4.93% | 57.82万 | 12.04亿 | | 002496 | *ST辉丰 | 1.70 | 2.41% | 12.72万 | 2133.63万 | | 002749 | 国米股份 | 15.51 | 2.38% | 2.98万 | 4582.09万 | | 002588 | 史丹利 | 9.17 | 2.34% | 12.19万 | 1.11亿 | | 301035 | 润丰股份 | 64.99 | 2.33% | 1.18万 | 7616.12万 | | 603395 | 红四方 | ...

资金流向方面，今日主力资金净流入9897.20万元，占比成交额8.22%。其中，超大单净流入7479.79万 元、占成交额6.21%，大单净流入2417.42万元、占成交额2.01%，中单净流出流出2062.47万元、占成交 额1.71%，小单净流出7834.73万元、占成交额6.51%。 金融界消息 截至2025年8月4日收盘，利民股份（002734）报收于21.27元，上涨4.93%，换手率 14.47%，成交量57.82万手，成交金额12.04亿元。 利民股份最新一期业绩显示，截至2025一季报，公司营业总收入12.11亿元、同比增长22.28%，归属净 利润1.08亿元，同比增长1373.23%，扣非净利润9550.30万元，同比增长1072.59%，流动比率0.957、速 动比率0.659、资产负债率56.14%。 天眼查商业履历信息显示，利民控股集团股份有限公司，成立于1996年，位于徐州市，是一家以从事其 他金融业为主的企业。企业注册资本37121.5844万人民币，实缴资本5635.08万人民币。公司法定代表人 为李新生。 通过天眼查大数据分析，利民控股集团股份有限公司共对外投资了21家企业， ...

Group 1 - The company, Limin Co., Ltd. (002734.SZ), stated on an interactive platform that its produced imidacloprid and other neonicotinoid insecticides have certain effectiveness in mosquito control [1]

Industry Investment Rating - The industry investment rating is "Outperform" [2] Core Views - The report emphasizes the focus on leading chemical companies such as Wanhua Chemical, Yangnong Chemical, and Hualu Hengsheng, while also highlighting the need to prevent excessive competition in sectors like silicon materials and pesticides [5][6] - The basic chemical sector has shown a decline of 1.46% this week, outperforming the CSI 300 index, which declined by 1.75% [6][19] Summary by Sections Industry Overview - The closing index for the basic chemical sector is at 3727.14, with a weekly high of 3806.19 and a low of 2687.54 [2] Weekly Market Performance - The basic chemical sector has a year-to-date performance of 7.87%, underperforming the CSI 300 index, which has a gain of 19.74% [19] - This week, the top gainers in the basic chemical sector include Siquan New Materials (up 50.75%), Shangwei New Materials (up 39.37%), and Tiancheng Technology (up 28.83%) [19][20] Price Movements - Key products that saw price increases include chicken seedlings (up 31.86%), oxalic acid (up 14.29%), and liquid chlorine (up 12.72%) [9][25] - Conversely, PVDF powder saw a significant price drop of 15.38%, along with other products like TMA and industrial-grade lithium carbonate [10][27] Investment Recommendations - The report suggests a focus on leading companies in the chemical sector, particularly in the silicon material and pesticide markets, to mitigate risks associated with excessive competition [5][6] - Specific investment ratings for key companies include: - Wanhua Chemical: Buy, closing price 60.9, market cap 190.71 billion [12] - Yangnong Chemical: Buy, closing price 68.0, market cap 27.55 billion [12] - Hualu Hengsheng: Buy, closing price 23.8, market cap 50.62 billion [12]

Core Viewpoint - The implementation of the "one product, one certificate" policy starting January 1, 2026, is expected to significantly impact the pesticide industry, leading to a more concentrated and sustainable market environment, benefiting companies like Limin Co. with technical and certification advantages [1] Industry Impact - The revised pesticide management measures will eliminate disordered competition and decentralized operations, promoting a healthier and more sustainable development path for the industry [1] - The policy is anticipated to force 80% of pesticide production based on borrowing certificates to exit the market, compelling large distributors to shift towards purchasing pesticide formulations from leading companies [1] Company Strategy - Limin Co. plans to leverage its core advantages in original pesticides to adapt to the "one product, one certificate" era by refining its product range and enhancing brand quality [1] - The company aims to establish itself as a new industry benchmark by focusing on improving quality, increasing product variety, and building its brand in a more favorable market environment [1]

证券之星消息，7月30日农化制品板块较上一交易日上涨0.22%，利民股份领涨。当日上证指数报收于 3615.72，上涨0.17%。深证成指报收于11203.03，下跌0.77%。农化制品板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 002734 | 利民股份 | 20.05 | 4.81% | 67.72万 | | 13.53亿 | | 600426 | 华鲁恒升 | 24.88 | 2.98% | 38.81万 | | 9.75亿 | | 600096 | 云天化 | 25.20 | 2.82% | 37.80万 | | 9.53亿 | | 002250 | 联化科技 | 10.64 | 1.53% | 182.46万 | | 19.68亿 | | 002258 | 利尔化学 | 12.67 | 1.44% | 29.84万 | | 3.83亿 | | 003042 | 中农联合 | 17.76 | 1.20% | 5.23万 | | 9294.41万 ...