Investment Rating - The report maintains an "Outperform" rating for the agricultural chemical industry [5][8]. Core Views - The potassium fertilizer market is experiencing a tight supply-demand balance, with contract prices rising due to increased demand and limited domestic production [1][5]. - The long-term price of phosphate rock is expected to remain high due to declining ore grades and increasing demand from new applications such as lithium iron phosphate [2][3]. - The cancellation of export tax rebates for certain pesticides, including glyphosate, is anticipated to accelerate the elimination of outdated production capacity in the industry [4][5]. Summary by Sections Potassium Fertilizer - Potassium fertilizer prices are recovering due to strong demand, with domestic production expected to decrease slightly in 2024 while imports reach a historical high [1][25]. - As of January 2026, the average market price for potassium chloride was 3,295 CNY/ton, reflecting a year-on-year increase of 27.52% [1][41]. - Key companies recommended include Yara International, with projected potassium chloride production of 280 million tons in 2025 and 400 million tons in 2026 [5][8]. Phosphate Chemicals - The phosphate rock market is characterized by tight supply, with prices for 30% grade phosphate rock remaining high at around 1,040 CNY/ton in Hubei [2][50]. - The demand for lithium iron phosphate is driving the growth of phosphate rock consumption, with significant price increases observed in related products [2][3]. - Recommended companies include Chuanheng Co., which has clear expansion plans, and Yuntianhua, a leading player in the phosphate chemical sector [5][7]. Pesticides - The cancellation of export tax rebates is expected to increase production costs for pesticide companies, leading to a potential rise in prices for glyphosate and other products [4][5]. - The market for glyphosate is projected to grow significantly, with production expected to increase from 18,300 tons in 2020 to 120,400 tons by 2025, reflecting a compound annual growth rate of 45.78% [4][5]. - Companies recommended in this sector include Lier Chemical and Liming Chemical, which are well-positioned to benefit from the changing market dynamics [5][7].

Group 1 - The core viewpoint of the article is that Limin Co., Ltd. (002734) announced a price increase for its sulfur and sulfur-containing products starting from January 30, 2026, with an adjustment range of 5% to 10% [1] - The company provided information on product pricing through various platforms, including the "Zhongnong Lihua (603970) raw material price index" and "Baichuan Yinfeng" [1] - The company's public account has recently published the price adjustment details for its products [1]

1月30日，利民股份大宗交易成交25万股，成交额532.5万元，占当日总成交额的0.35%，成交价21.3元，较市场收盘价21.3元 持平。 | 交易日期 | 证券代码 | 证券简称 | 成交价格 (元) | 成交星 (万股/万份) | 成交全额 (万元) | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | 2026-01-30 | 002734 | 利民股份 | 21.30 | 25.00 | | 532.50 国泰海通证券股份 | 机构专用 | | | | | | | | 有限公司深圳福华 | | | | | | | | | 三路证券营业部 | | ...

每经AI快讯，1月30日，利民股份发布产品调价告知函称，近期，受上游原材料市场供需变化影响，硫 磺及石硫合剂相关原料采购价格持续上涨，致使公司生产成本显著增加。经公司慎重研究决定：自即日 起，对硫磺及石硫合剂系列产品的销售价格进行上调，调整幅度为5%~10%。 （文章来源：每日经济新闻） ...

Market Overview - The agricultural chemical sector experienced a decline of 1.56% on January 29, with Nongda Technology leading the drop [1] - The Shanghai Composite Index closed at 4157.98, up 0.16%, while the Shenzhen Component Index closed at 14300.08, down 0.3% [1] Stock Performance - Notable gainers in the agricultural chemical sector included: - Guangxin Co., Ltd. (Code: 6655209) with a closing price of 15.50, up 10.01% and a trading volume of 779,400 shares, totaling 1.156 billion yuan [1] - Limin Co., Ltd. (Code: 002734) closed at 20.99, up 6.98% with a trading volume of 835,600 shares, totaling 1.696 billion yuan [1] - Major decliners included: - Nongda Technology (Code: 920159) with a closing price of 46.05, down 12.93% and a trading volume of 81,600 shares, totaling 3.81 billion yuan [2] - Zhongnong United (Code: 003042) closed at 22.87, down 10.00% with a trading volume of 455,700 shares [2] Capital Flow - The agricultural chemical sector saw a net outflow of 1.974 billion yuan from institutional investors, while retail investors contributed a net inflow of 1.463 billion yuan [2] - The capital flow for specific stocks showed: - Limin Co., Ltd. had a net inflow of 1.89 billion yuan from institutional investors, but a net outflow of 819.96 million yuan from retail investors [3] - Guangxin Co., Ltd. experienced a net inflow of 139 million yuan from institutional investors, with a net outflow of 668.65 million yuan from retail investors [3]

（文章来源：每日经济新闻） 每经AI快讯，利民股份（002734.SZ）1月28日在投资者互动平台表示，公司新能源项目目前尚处于项目 前期工作阶段，请关注公司公告。 ...

1月26日晚，先达股份发布2025年度业绩预告，预计全年实现净利润1.35亿元至1.55亿元，上年同期该指 标为亏损2587.55万元，实现同比扭亏为盈。 近期农化行业多家公司业绩大幅预喜。记者梳理发现，目前已有20家农化上市公司披露业绩预告，其中 10家业绩预增、2家扭亏。 多家农化上市公司业绩预增 对于业绩预增的原因，先达股份表示，核心系公司主要产品烯草酮销售价格较上年同期显著上涨，推动 公司产品毛利率整体提升；本年度创制产品吡唑喹草酯系列成功上市并实现销售，进一步带动国内制剂 产品毛利率增长。 与此同时，公司持续推进运营改革，实施毛利分配方案，强化成本费用管控，整体运行效率不断提高。 不止先达股份，农药化工板块多家企业均2025年业绩高增。草铵膦头部企业利尔化学于1月23日发布 2025年度业绩快报。报告期内，公司实现营业收入约90.08亿元，同比增加23.21%；归母净利润约4.79 亿元，同比增加122.33%。 对于这一成绩，利尔化学称，2025年行业虽然依旧面临激烈市场竞争，但公司凭借部分产品需求增长， 综合毛利率同比有所上涨以及降本增效取得成效，最终带动业绩同比上涨。 1月22日，利民股份发布 ...

Core Viewpoint - The agricultural chemical industry is experiencing significant growth, with multiple companies reporting substantial increases in earnings for the year 2025, driven by rising product prices and improved operational efficiencies [1][2][3]. Group 1: Company Performance - Xinda Co. expects a net profit of 135 million to 155 million yuan for 2025, a turnaround from a loss of 25.87 million yuan in the previous year [1]. - Lier Chemical reported an estimated revenue of approximately 9.008 billion yuan for 2025, a year-on-year increase of 23.21%, with a net profit of about 479 million yuan, up 122.33% [2]. - Limin Co. anticipates a net profit of 465 million to 500 million yuan for 2025, representing a year-on-year growth of 471.55% to 514.57% [2]. - Dongfang Tieta expects a net profit of 1.08 billion to 1.27 billion yuan for 2025, reflecting a growth of 91.40% to 125.07% compared to the previous year [3]. Group 2: Industry Trends - The agricultural chemical sector is seeing a positive trend, with 20 listed companies having disclosed earnings forecasts, of which 10 are expected to see profit increases and 2 are expected to turn losses into profits [1]. - The recent policy changes regarding export tax rebates for agricultural chemicals are anticipated to boost industry sentiment, as companies may increase prices to maintain profitability amid rising export costs [4][5]. - The cancellation of export tax rebates is expected to lead to higher costs for exporters, prompting them to raise prices, which could support both volume and price increases in the agricultural chemical market [5].

证券日报网讯1月26日，利民股份（002734）在互动平台回答投资者提问时表示，截至2025年12月31 日，公司股东总户数为56060户。 ...

Group 1 - The agricultural chemical sector increased by 0.77% on January 26, with Chengxing Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4132.61, down 0.09%, while the Shenzhen Component Index closed at 14316.64, down 0.85% [1] - Notable gainers in the agricultural chemical sector included Chengxing Co., Ltd. and Zhongnong United, both rising by 10.01% [1] Group 2 - The agricultural chemical sector experienced a net outflow of 40.45 million yuan from institutional investors, while retail investors saw a net inflow of 172 million yuan [2] - The top individual stock performers in terms of net inflow included Yuntianhua with a net inflow of 150 million yuan [3] - The overall trading volume and turnover for the agricultural chemical sector were significant, with Chengxing Co., Ltd. achieving a turnover of 7.53 billion yuan [1][2]