Core Viewpoint - Limin Co., Ltd. has received approval from the Jiangsu Provincial Department of Ecology and Environment for its subsidiary Limin Chemical's project to produce 100 tons of a new type of efficient multifunctional pesticide raw material annually [1] Group 1: Project Approval - The approval allows Limin Chemical to construct a new efficient multifunctional pesticide raw material project within its existing plant [1] - The project will have an annual production capacity of 100 tons of fluopyram raw material [1] Group 2: Environmental Compliance - The company is required to implement all environmental protection measures outlined in the approval to ensure pollutant emissions meet standards [1] - The project must adhere to the "three simultaneous" system, which mandates that environmental protection facilities are designed, constructed, and put into operation concurrently with the main project [1]

关于子公司新型高效多功能植保原药技改项目 取得环评批复的公告 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。 利民控股集团股份有限公司（以下简称"公司"）全资子公司利民化学有限责 任公司（以下简称"利民化学"）于近日收到江苏省生态环境厅下发的《关于利民 化学有限责任公司年产 100 吨新型高效多功能植保原药技改项目环境影响报告书的 批复》（苏环审【2025】90 号）。 股票代码：002734 股票简称：利民股份 公告编号：2025-093 利民控股集团股份有限公司 本次环评批复取得后，利民化学将根据公司计划安排、按照环评批复和相关法 律法规的要求进行项目建设。 敬请广大投资者谨慎决策投资，注意投资风险。 特此公告。 利民控股集团股份有限公司董事会 2025 年 11 月 20 日 - 1 - 该批复同意利民化学在现有厂区内，建设新型高效多功能植保原药技改项目， 项目建成后将形成年产 100 吨氟吡菌酰胺原药产品生产能力。并且落实批复中提出 的各项环保要求，确保污染物达标排放，严格执行配套建设的环境保护设施与主体 工程同时设计、同时施工、同时投产使用的环境保护 ...

Group 1 - The core viewpoint of the report is that Limin Co., Ltd. (002734.SZ) is rated as "Buy" due to several positive factors influencing its performance [1] - The price increase of Manganese Zinc is expected to drive the company's performance growth [1] - The company's subsidiary, Deyanjichuang, has signed a cooperation agreement with BASF, indicating potential for future growth [1] - The company's proposed new energy project has passed the review, suggesting it may benefit from the increasing demand for new energy in the future [1]

Group 1: Macro Economic Insights - Construction activity is weakening, with the construction opening rate falling to historical lows, and industrial production remains at a historically high level [5][6] - Demand in the construction sector is weak, with low apparent demand for rebar and building materials, while automobile sales are also declining [5] - Recent weeks show a mixed performance in commodity prices, with black metals and coal prices recovering, while chemical products are experiencing a decline [6] Group 2: Industry Performance - The retail sales growth rate for October 2025 shows a year-on-year increase of 2.9%, but the growth rate continues to decline, particularly in the home appliance and automotive sectors [18][19] - The white liquor industry is in a bottoming phase, with structural recovery in demand during the holiday season, while the snack food sector shows resilience due to high-frequency demand [20] - In the poultry sector, chicken prices are supported by seasonal demand, while egg prices are declining, leading to accelerated culling of laying hens [22][23] Group 3: Company Updates - Li Min Co. (002734.SZ) has seen a price increase in its manganese-based products, and a strategic partnership with BASF has been established to enhance growth potential [37][38] - Bilibili (09626.HK) reported a significant increase in Q3 revenue, driven by advertising and new game launches, maintaining a "buy" rating [41][42] - Tencent Holdings (00700.HK) continues to experience high growth in revenue and net profit, with strong performance in both new and existing games, supported by AI applications [46][48] Group 4: Investment Opportunities - The 2025 private placement market is showing signs of recovery, with a significant increase in the number of new proposals and financing scale [10][12] - The Robotaxi industry is gaining traction, with companies like Xiaoma Zhixing and Wenyan Zhixing going public, indicating growth potential in the autonomous driving sector [31] - The outdoor camping and barbecue market is expected to thrive, with companies like Guoquan focusing on expanding their product offerings in this area [34]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The increase in the price of Mancozeb and the successful collaboration with BASF open up growth opportunities for the company [1][7] - The company has adjusted its profit forecasts for 2025-2027, expecting net profits of 560 million, 712 million, and 828 million yuan respectively, with corresponding EPS of 1.26, 1.60, and 1.86 yuan [6] - The company is well-positioned to benefit from the growing demand in the lithium battery sector due to its planned investment in new energy projects [8] Financial Summary - Revenue is projected to increase from 4,224 million yuan in 2023 to 5,699 million yuan in 2025, reflecting a year-on-year growth of 34.5% [9] - The net profit is expected to rise significantly from 62 million yuan in 2023 to 560 million yuan in 2025, indicating a year-on-year growth of 587.8% [9] - The gross margin is forecasted to improve from 17.0% in 2023 to 27.4% in 2025, while the net margin is expected to increase from 1.5% to 9.8% over the same period [9][12]

Core Viewpoint - The company, Limin Co., stated on November 17 that as of November 10, 2025, the total number of shareholders is 60,999 [2] Summary by Relevant Sections - Shareholder Information - The total number of shareholders for Limin Co. is reported to be 60,999 as of November 10, 2025 [2]

股票代码：002734 股票简称：利民股份 公告编号：2025-091 利民控股集团股份有限公司 2025 年第二次临时股东大会决议公告 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： 1、本次股东大会以现场表决与网络表决相结合的方式召开； 2、本次股东大会无增加、变更、否决提案的情况； 3、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开情况 1、会议时间： （1）现场会议召开时间：2025 年 11 月 17 日（星期一）14:30。 二、会议出席情况 1、股东出席的总体情况： 通过现场和网络投票的股东 364 人，代表股份 119,622,756 股，占上市公司总 股份的 26.9365％。 （2）网络投票时间：2025 年 11 月 17 日（星期一）。 其中，通过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 11 月 17 日的交易时间，即 9:15—9:25，9:30－11:30 和 13:00－15:00；通过深圳证 券交易所互联网投票系统投票的具体时间为：2025 年 11 月 17 日 9:15－15 ...

上海市锦天城（深圳）律师事务所 关于利民控股集团股份有限公司 2025 年第二次临时股东大会的 法律意见书 地址：深圳市福田区福华三路卓越世纪中心 1 号楼 21、22、23 层 电话：0755-82816698 传真：0755-82816698 邮编：518048 锦天城律师事务所 法律意见书 上海市锦天城（深圳）律师事务所 关于利民控股集团股份有限公司 2025 年第二次临时股东大会的 法律意见书 致：利民控股集团股份有限公司 上海市锦天城（深圳）律师事务所（以下简称"本所"）接受利民控股集团 股份有限公司（以下简称"公司"）委托，就公司召开 2025 年第二次临时股东 大会（以下简称"本次股东大会"）的有关事宜，根据《中华人民共和国公司法》 （以下简称《公司法》）、《上市公司股东会规则》等法律、法规、规章和其他 规范性文件以及《利民控股集团股份有限公司章程》（以下简称《公司章程》） 的有关规定，出具本法律意见书。 为出具本法律意见书，本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等规定，严格履行 了法定职责，遵循了勤勉尽责和诚实信用原则，对本次股东 ...

股票代码：002734 股票简称：利民股份 公告编号：2025-092 利民控股集团股份有限公司 关于公司选举职工代表董事的公告 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。 利民控股集团股份有限公司（以下简称"公司"）根据《公司法》等法律法 规、规范性文件和《公司章程》的规定，于 2025 年 11 月 17 日召开职工代表会议， 经与会职工代表表决通过，同意选举许昭先生为公司第六届董事会职工代表董事 （简历详见附件），任期自本次职工代表会议选举通过之日起至公司第六届董事 会任期届满之日止。 许昭先生符合《公司法》《深圳证券交易所上市公司自律监管指引第 1 号— —主板上市公司规范运作》等法律法规、规范性文件及《公司章程》规定的任职 条件和任职资格。许昭先生原为公司第六届董事会非职工代表董事，本次选举完 成后，许昭先生将担任职工代表董事，不再担任非职工代表董事。公司第六届董 事会成员不变。公司董事会中兼任公司高级管理人员以及由职工代表担任的董事 人数总计未超过公司董事总数的二分之一，符合相关法律法规和规范性文件的规 定。 特此公告。 利民控股集团股份有限公 ...

Meeting Announcement - The company will hold its second extraordinary general meeting of shareholders for 2025 on November 17, 2025, at 14:30 [1][3] - The meeting will be conducted in a hybrid format, combining on-site and online voting [3][4] Voting Details - On-site voting will take place on November 17, 2025, while online voting will be available throughout the trading hours of that day [2][13] - The record date for shareholders eligible to attend the meeting is November 12, 2025 [3][6] Attendance and Registration - Shareholders registered by the record date can attend the meeting, and those unable to attend in person may authorize others to represent them [3][6] - Registration for attending the meeting will occur on November 13, 2025, with specific requirements for individual and corporate shareholders [5][6] Voting Procedures - Shareholders can vote through the Shenzhen Stock Exchange trading system or the internet voting system, with specific timeframes outlined for each method [2][14] - All proposals will be non-cumulative voting items, and shareholders must express their votes as agree, disagree, or abstain [11][12] Contact Information - The company has provided contact details for inquiries related to the meeting, including a contact person and email address [9][10]