股票代码：002734 股票简称：利民股份 公告编号：2025-022 利民控股集团股份有限公司 关于为子公司提供担保的进展公告 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、担保情况概述 利民控股集团股份有限公司（以下简称"公司"））分别于 2024 年 4 月 25 日、 2024 年 5 月 16 日召开第五届董事会第二十三次会议、2023 年度股东大会，审议通 过了《关于 2024 年度为子公司提供担保额度预计的议案》。同意公司为河北威远 生物化工股份有限公司（以下简称"威远生化"）在 2024 年度合计不超过人民币 63,500 万元的银行债务提供连带责任保证担保。有效期自公司 2023 年度股东大会 审议通过后至公司 2024 年度股东大会审议相关担保额度议案之日止。具体内容详 见公司于 2024 年 4 月 26 日在指定信息披露媒体《证券时报》《中国证券报》和巨 潮资讯网（http://www.cninfo.com.cn）披露的《公司关于 2024 年度为子公司提 供担保额度预计的公告》（公告编号：2024-026）。 二、担保进展情况 ...

Core Viewpoint - The A-share market is experiencing increased volatility, with a significant divergence in risk appetite among investors. High-growth companies are becoming focal points for institutional investment as they report strong earnings forecasts, while defensive assets and consumer sectors are also attracting attention due to their stability in uncertain market conditions [1][2]. Group 1: Market Trends and Institutional Strategies - The recent surge in market volatility has led to a shift in institutional strategies, focusing on high-growth stocks and defensive assets. Funds are particularly interested in sectors supported by policy and those with low valuations [2][11]. - Notable high-growth stocks such as Limin Co. and Yinglian Co. have seen significant price increases, with Limin Co. expected to report a net profit growth of 1504.79% for Q1 [2][3]. Group 2: Company Performance Highlights - Limin Co., which specializes in agricultural chemicals, anticipates a non-GAAP net profit growth of 985.99% to 1199.85% in Q1, driven by rising product prices and increased sales [3]. - Yinglian Co. projects a net profit of 7.5 million to 11 million yuan for Q1, reflecting a year-on-year growth of 459.28% to 720.28%. The company attributes this growth to successful market expansion and improved margins on its products [4][5]. Group 3: Fund Activity and Stock Holdings - Fund managers have increased their holdings in high-growth stocks like Yinglian Co., with 11 public funds acquiring a total of 158,150 shares by the end of 2024, indicating a growing interest in this stock [8]. - Limin Co. has also seen a rise in institutional interest, with 59 public funds holding a total of 6,393,759 shares by the end of 2024, compared to only two funds in the previous year [9]. Group 4: Investment Focus and Recommendations - Investment firms are recommending a focus on domestic demand and dividend-paying assets, particularly in light of ongoing tariff uncertainties. They suggest that sectors with lower exposure to U.S. trade may outperform in the current environment [11][12]. - There is a consensus among fund managers to prioritize sectors such as financials, real estate, and new consumer trends, as well as to consider opportunities in industries with strong pricing power and high margins [11][12].

基础化工/农化制品 利民股份（002734.SZ） 阿维菌素等产品价格上涨，Q1 业绩预告超预期 2025 年 04 月 09 日 投资评级：买入（维持） | 日期 | 2025/4/9 | | --- | --- | | 当前股价(元) | 11.57 | | 一年最高最低(元) | 11.97/6.09 | | 总市值(亿元) | 42.63 | | 流通市值(亿元) | 37.74 | | 总股本(亿股) | 3.68 | | 流通股本(亿股) | 3.26 | | 近 3 个月换手率(%) | 329.87 | 股价走势图 数据来源：聚源 -24% 0% 24% 48% 72% 2024-04 2024-08 2024-12 2025-04 利民股份 沪深300 相关研究报告 《农药一体化龙头，或受益于百菌清 和代森锰锌上涨—公司深度报告》 -2024.12.5 ——公司信息更新报告 | 金益腾（分析师） | 张晓锋（分析师） | 宋梓荣（联系人） | | --- | --- | --- | | jinyiteng@kysec.cn | zhangxiaofeng@kysec.cn | songzir ...

上 市 公 司 基础化工 2025 年 04 月 09 日 利民股份 (002734) ——重点产品价格持续上行，25Q1 业绩超预期 报告原因：有业绩公布需要点评 增持（维持） | 市场数据： | 2025 年 04 月 08 日 | | --- | --- | | 收盘价（元） | 11.17 | | 一年内最高/最低（元） | 11.97/6.09 | | 市净率 | 1.7 | | 息率（分红/股价） | 3.13 | | 流通 A 股市值（百万元） | 3,644 | | 上证指数/深证成指 | 3,145.55/9,424.68 | | 注："息率"以最近一年已公布分红计算 | | | 基础数据: | 2024 年 09 月 30 日 | | --- | --- | | 每股净资产（元） | 6.77 | | 资产负债率% | 60.02 | | 总股本/流通 A 股（百万） | 368/326 | | 流通 B 股/H 股（百万） | -/- | 一年内股价与大盘对比走势： 04-08 05-08 06-08 07-08 08-08 09-08 10-08 11-08 12-08 01-08 0 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is expected to benefit from the price increases of its main products, such as Abamectin and Methyl Acetate, leading to a significant improvement in Q1 performance, with a forecasted net profit of 100-120 million yuan, a substantial turnaround year-on-year, and a quarter-on-quarter growth of 231.59%-297.90% [6][7] - The company has adjusted its net profit forecasts for 2024-2026 to 81 million (+0.01 million), 409 million (+2.07 million), and 506 million (+2.64 million) yuan respectively, with corresponding EPS of 0.22 (+0.00), 1.11 (+0.56), and 1.38 (+0.72) yuan, indicating a favorable outlook [6] Financial Summary - The company's revenue for 2022 was 5,016 million yuan, with a projected revenue of 4,524 million yuan for 2024, and 4,997 million yuan for 2025, reflecting a year-on-year growth of 10.5% [9] - The gross profit margin is expected to improve from 15.8% in 2024 to 23.6% in 2025, and the net profit margin is projected to rise from 1.8% in 2024 to 8.2% in 2025 [9][12] - The company's return on equity (ROE) is forecasted to increase from 3.0% in 2024 to 13.6% in 2025, indicating enhanced profitability [9][12] Product Price Trends - The average price of Abamectin in Q1 2025 was 478,400 yuan/ton, up 33.09% year-on-year, and Methyl Acetate was 661,700 yuan/ton, up 30.67% year-on-year, contributing to the company's strong performance [7] - The price of another key product, Bactericide, increased by 52.78% year-on-year in Q1 2025, with the company holding a 34% stake in Xinhe Chemical, which provides additional capacity [7][8] Market Outlook - The market for Bactericide is expected to remain tight, with prices continuing to rise due to strong export demand influenced by agricultural diseases [8] - The company anticipates a market demand growth of 8%-10% for Abamectin and Methyl Acetate over the next 2-3 years, with prices expected to remain stable or increase [8]

Core Insights - The report highlights a positive outlook for the rare earth industry, driven by a recovery in market conditions and increased sales profits, with a projected net profit for Guangsheng Nonferrous of 40 to 50 million yuan in Q1 2025, marking a significant turnaround from losses in the previous year [3] - The agricultural chemicals sector is also showing signs of recovery, with Limin Co. forecasting a net profit of 100 to 120 million yuan in Q1 2025, a substantial increase from a loss of 8.49 million yuan in the same period last year, attributed to rising product prices and a favorable market environment [3] - Tiande Yu expects a revenue increase of 60.52% year-on-year, with net profit reaching approximately 70.57 million yuan in Q1 2025, driven by the expansion of new products and markets, particularly in display driver chips and electronic price tag chips [4] Industry Analysis - The home appliance export sector faces significant challenges due to the recent implementation of a 10% minimum baseline tariff and additional tariffs that could raise the average tariff rate to around 80% for Chinese white goods exported to the U.S., creating a substantial impact on trade dynamics [6][7] - Companies with diversified production capacities and lower exposure to the U.S. market, such as TCL and Hisense, are better positioned to withstand tariff pressures due to localized production strategies [7] - Smaller enterprises that rely heavily on exports to the U.S. and lack overseas operations are likely to face severe cost pressures and may struggle to remain competitive, potentially leading to reduced orders and financial difficulties [8]

【隔夜行情】 中国瑞林，证券代码603257，发行价格20.52元/股，发行市盈率18.17倍；公司是一家专业工程技术企 业,主要为境内外有色金属采矿、选矿、冶炼、加工产业链客户提供包括设计咨询、工程总承包、装备 集成等在内的工程技术服务,同时业务还延伸到环保、民用建筑、市政等领域。 新股申购： •周一（2025年4月7日），A股三大指数集体重挫，截至收盘，上证指数收跌7.34%，深证成指收跌 9.66%，创业板指收跌12.5%；北证50收跌17.95%。两市成交额约15877.99亿元，较前一个交易日放量约 4501.79亿元。全市场106只股票上涨、5284只股票下跌。 宏工科技，创业板证券代码301662，发行价格26.6元/股，发行市盈率7.05倍；公司是一家专注于物料处 理自动化的国家高新技术企业,为客户提供成套工程设计与交付、核心设备与配件、自动控制软件及技 术服务；具备完善的科研、设计、生产、销售、项目交付与软件开发服务体系,广泛服务于电池匀浆、 电池材料、精细化工、食品医药、橡胶塑料等行业。 •周一（2025年4月7日），港股三大指数集体暴跌，恒指狂泄逾3000点创下最大点数跌幅，并失守两万 ...

Group 1: Stock Suspension and Resumption - Beizhi Technology plans to acquire 100% of Suzhou Suike Intelligent Technology Co., Ltd., resulting in stock suspension [1] - Taihao Technology intends to issue shares to purchase 27.46% equity of Taihao Military Industry, leading to stock resumption. This acquisition is expected to strengthen the company's industrial layout in the military equipment sector [1] Group 2: Share Buyback - Wanhua Chemical's chairman proposed a share buyback plan ranging from 300 million to 500 million yuan [2] Group 3: Investment Cooperation and Operational Status - Guotai Junan has changed its A-share stock name to Guotai Haitong starting April 11 and has been approved to publicly issue company bonds not exceeding 60 billion yuan to professional investors [3] - Lizhong Group stated that the adjustment of U.S. tariffs will not significantly impact its production and operations [3] - Haoyang Co., Ltd. plans to invest no less than 603 million yuan in the construction of an entertainment equipment industrial base project [4] - Runjian Co., Ltd. is a candidate for the procurement project of comprehensive maintenance for Guangdong Unicom's 5G services, with a total bid scale of 179 million yuan [4] - Samsung Medical's wholly-owned subsidiary, Aix Smart Technology, won a transformer procurement framework project in Hungary, with a total contract amount of 23,840,958.10 euros, approximately 190 million yuan [4] - Nandu Property plans to increase its investment in Hangzhou Yunxiang Robot by 15 million yuan [5] Group 4: Performance Changes - Xiaogoods City reported a net profit of 803 million yuan in Q1, a year-on-year increase of 12.66%, mainly due to a 97 million yuan increase in gross profit from market operations and new businesses [6] - Kidswant expects a Q1 net profit between 29.1471 million and 38.4742 million yuan, a year-on-year increase of 150%-230%, driven by store upgrades, supply chain optimization, and AI development [6] - China CNR anticipates a Q1 net profit between 2.822 billion and 3.226 billion yuan, a year-on-year increase of 180%-220%, due to increased product sales [6] - Yonghe Co., Ltd. expects a Q1 net profit between 91 million and 103 million yuan, a year-on-year increase of 144.49% to 176.74%, attributed to strong demand for refrigerants and fluoropolymer materials [6] - Yinglian Co., Ltd. forecasts a Q1 net profit between 7.5 million and 11 million yuan, a year-on-year increase of 459.28%-720.28%, due to market expansion and improved gross margins [6] - Limin Co., Ltd. expects to achieve a net profit of 100 million to 120 million yuan in Q1 2025, turning a profit due to rising prices and increased sales of its main products [7] - China Aluminum anticipates a Q1 net profit between 3.4 billion and 3.6 billion yuan, a year-on-year increase of 53% to 63%, driven by increased production of major products [8] - Shandong Steel expects a total profit of approximately 15.3 million yuan in Q1 2025, with a net profit of around -1.45 million yuan, significantly reducing losses [8] - COSCO Shipping Holdings expects a Q1 net profit of 11.689 billion yuan, an increase of approximately 73.04% year-on-year [8] - Tiande Yu expects a Q1 net profit of 70.5681 million yuan, a year-on-year increase of 116.96%, driven by new product and market development [8] - Jinaobo expects a Q1 net profit between 33 million and 40 million yuan, a year-on-year increase of 128.18% to 176.59%, due to significant revenue growth in specialized equipment [8]

Financial Performance Expectations - The company expects a net profit attributable to shareholders of 100 million to 120 million CNY for Q1 2025, compared to a loss of 8.4917 million CNY in the same period last year, representing a growth of 1277.62% to 1513.14%[2] - The net profit after deducting non-recurring gains and losses is projected to be between 87 million to 108 million CNY, compared to a loss of 9.8195 million CNY in the previous year, indicating a growth of 985.99% to 1199.85%[2] - Basic earnings per share are expected to be between 0.28 CNY to 0.34 CNY, a significant improvement from a loss of 0.02 CNY per share in the same period last year[2] Factors Influencing Profit Growth - The increase in profit is attributed to the rise in prices and sales volume of the company's main products during the reporting period[4] Earnings Forecast and Audit Status - The earnings forecast has not been audited by a registered accountant, and the specific financial data will be confirmed in the company's Q1 2025 report[3][5]

Financial Performance - Total operating revenue for 2024 reached ¥4,237,402,851.27, a slight increase of 0.32% compared to ¥4,223,936,964.12 in the previous year[4] - Operating profit surged to ¥113,609,323.63, marking a significant increase of 76.71% from ¥64,290,894.53 year-on-year[4] - Total profit rose to ¥115,188,746.23, reflecting a growth of 79.07% compared to ¥64,327,819.69 in the previous year[4] - Net profit attributable to shareholders increased by 31.11% to ¥81,357,608.85 from ¥62,051,829.92 year-on-year[4] - Basic earnings per share improved by 35.29% to ¥0.23, up from ¥0.17 in the previous year[4] - The weighted average return on net assets increased to 3.01%, up from 2.23% in the previous year[4] Assets and Equity - Total assets at the end of the reporting period were ¥6,660,284,764.42, a decrease of 2.28% from ¥6,815,334,746.25 at the beginning of the period[4] - Equity attributable to shareholders decreased by 4.71% to ¥2,642,805,549.03 from ¥2,773,342,822.67[4] Performance Consistency - The company reported no discrepancies between the current performance and the previously estimated performance for the first three quarters of 2024[7] Profit Drivers - The increase in profit was driven by rising prices and increased sales of the company's main products[6]