股票代码：002734 股票简称：利民股份 公告编号：2024-110 利民控股集团股份有限公司 关于回购部分社会公众股份的进展公告 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。 利民控股集团股份有限公司（以下简称"公司"）于 2024 年 2 月 5 日召开的 第五届董事会第二十二次会议，审议通过了《关于回购部分社会公众股份方案的议 案》，同意公司以集中竞价交易方式使用自有资金回购公司部分股份，回购股份价 格不超过人民币 11.52 元/股，回购资金金额不低于人民币 10,000 万元（含）且不 超过人民币 18,000 万元（含），回购股份的实施期限为自公司股东大会审议通过回 购方案之日起 12 个月。 本次回购部分社会公众股份方案情况详见公司在巨潮资讯网（http:// www.cninfo.com.cn）上披露的相关公告。 一、回购公司股份的进展情况 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 9 号--回购股份》（以下简称"《监管指引》"）等相关规定，公司回购期间，每个月的 前三个交易日内披露截至上月末的回购进展情况，现将公 ...

Summary of Conference Call Company Overview - The conference call involved Limin Co., Ltd., a company engaged in the agricultural chemicals industry, specifically focusing on pesticide production and sales [1][2]. Key Points and Arguments Market Conditions and Performance - Limin Co. reported a positive market feedback for its key product, Daiseng Mengxin, with a current production capacity of 45,000 tons [3][5]. - The company is actively exploring the South American market, particularly Brazil, where it anticipates significant demand for its products [6][7]. - The overall demand for fungicides in South America is high due to favorable weather conditions that promote the growth of pathogens [6][19]. Inventory and Supply Chain - The company noted that the inventory levels for various pesticide products are currently low, with a normal inventory level being around two to three months [5][6]. - There is a notable demand for Daiseng Mengxin and Baijunqing in Brazil, with expectations of substantial sales growth once the company establishes a direct presence in the market [7][9]. Pricing Dynamics - The pricing for Daiseng Mengxin has fluctuated over the past three years, with current prices around 21,000 RMB per ton, indicating a stable market position [12][24]. - The company highlighted the correlation between the prices of Daiseng Mengxin and Baijunqing, suggesting that price increases in one could lead to increases in the other due to their substitutive relationship [13][24]. Strategic Initiatives - Limin Co. is focusing on expanding its overseas marketing efforts, with plans to establish a direct presence in Brazil by 2024 [8][9]. - The company is also investing in research and development of new biopesticides and synthetic biology products to enhance its product portfolio and reduce production costs [40][41]. Competitive Landscape - The company faces competition from both domestic and international players, with a significant portion of its production capacity being exported [14][39]. - The market for Baijunqing is relatively small, with an annual demand of around 70,000 tons, primarily driven by South America [15][16]. Future Outlook - Limin Co. anticipates that the demand for its products will remain strong, particularly in light of ongoing agricultural challenges such as pest outbreaks and the need for effective pest control solutions [19][20]. - The company is optimistic about its growth prospects in the international market, especially in regions where it has not previously established a presence [8][9]. Additional Important Information - The company has a unique position in the market as it is one of the few that can produce both biopesticides and chemical pesticides, which may provide a competitive advantage [40]. - The call emphasized the importance of maintaining communication with investors and stakeholders to ensure transparency and build trust [44]. This summary encapsulates the key insights from the conference call, highlighting Limin Co.'s market position, strategic initiatives, and future outlook in the agricultural chemicals industry.

Summary of the Conference Call for Limin Co., Ltd. Industry Overview - The pesticide industry experienced a boom in 2021, leading to expansion among companies. However, a downturn occurred in 2022-2023 due to oversupply, impacting profits for Limin Co., Ltd. A rebound in prices and sales is expected starting in Q1 2024 [2][3]. - The net profit for Limin Co., Ltd. was approximately 300-400 million yuan before 2021, dropping to around 67 million yuan in 2022-2023, with improvements expected in the first three quarters of 2024 [2][3]. Key Points on Pesticide Market Dynamics - Downstream raw material inventory has returned to reasonable levels, with the highest destocking seen in fungicides, followed by insecticides and herbicides [4]. - Global demand for the fungicide Bacillus subtilis is about 70,000 tons, with South America, particularly Brazil, being the largest market. Currently, there are no significant new demand growth points, but inventory levels are low [5]. - A significant outbreak of soybean rust in Brazil is expected to lead to a surge in demand for Bacillus subtilis, driving prices up due to low channel inventory [6]. Competitive Landscape - The Bacillus subtilis market is concentrated in China, with Jiangsu Xinhai Company holding a significant market share and currently operating at full capacity [5][8]. - The market for the fungicide Dazomet is experiencing price increases, with good market acceptance and strong demand from South America, while supply from India is not meeting expectations [2][14]. Supply Chain and Production Insights - The current supply situation for Bacillus subtilis shows low inventory levels, with Jiangsu Xinhai Company operating at full capacity but still facing shortages [9]. - The company has a total production capacity of 45,000 tons, with production running at full capacity and some products being supplied to overseas markets [18]. Price Trends and Financial Implications - Prices for insecticides such as Abamectin and Methomyl have increased by approximately 30% since the end of last year, driven by supply-demand imbalances [22]. - The decline in grain prices is beneficial for Bacillus subtilis and Dazomet, as lower prices increase demand for traditional, effective fungicides [12]. Future Outlook - The company anticipates that if current market conditions persist, the prices of several key products will rise, positively impacting overall performance [27]. - The potential for a re-approval of Dazomet in the European market could significantly enhance demand and market dynamics [19]. Additional Considerations - The company is actively monitoring the market for potential changes in regulations and demand, particularly in Europe, which could lead to increased opportunities [19][20]. - The financial impact of depreciation from new production lines is being managed, with strategies in place to mitigate negative effects if prices remain low [25]. This summary encapsulates the key insights from the conference call, highlighting the current state and future expectations of Limin Co., Ltd. and the pesticide industry.

股票代码：002734 股票简称：利民股份 公告编号：2024-109 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。 近日，利民控股集团股份有限公司（以下简称"公司"）接到公司控股股东、 实际控制人李明先生的通知，获悉李明先生将其持有的部分公司股份办理了解除 质押手续，具体事项如下： | 股东 | 是否为 第一大 | 本次解除质 | 本次解 除质押 | 本次解 除质押 占公司 | 质押开 | 解除质押 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 股东及 一致行 | 押股数（股） | 占其所 持股份 | 总股本 | 始日期 | 日期 | | | | 动人 | | 比例 | 比例 | | | | | 李明 | 是 | 955,244 | 1.30% | 0.26% | 2024.03 .04 | 2024.11. | 华西证券股 | | | | | | | | 22 | 份有限公司 | | 李明 | 是 | 683,867 | 0.93% | 0.19% | 2024.03 | ...

Summary of the Conference Call for Limin Co., Ltd. Industry Overview - Brazil is the largest fungicide market globally, with low inventory levels expected in 2024 due to increased rainfall leading to higher demand for fungicides [2][3] - Farmers are inclined to choose cost-effective conventional protective fungicides like Mancozeb and Dimethomorph, often used in combination with new fungicides to avoid resistance [2][4] Company Performance - Limin Co., Ltd. has seen price increases for its main products, Mancozeb and Dimethomorph, with significant production capacity and strong sales for Abamectin and Methomyl, showing notable price increases [2][5] - The company has limited herbicide offerings, with Glyphosate prices at historical lows, and plans to adjust production schedules accordingly [2][6] - Prices for minor products like Cyazofamid and Fipronil have risen, but production capacity remains limited [2][7] - The company is operating at full capacity with strong order volumes and is currently engaged in inventory management [2][11] Market Dynamics - Despite a decline in agricultural product prices, farmers continue to plant due to profitability, which does not significantly impact fungicide demand; cost-effective products are preferred [2][10] - Brazilian distributors have low inventory levels, leading to strong replenishment intentions [2][11] - Seasonal demand and supply shortages are expected to keep fungicide prices high in the short term [2][9] Price Trends and Future Outlook - Recent price increases for fungicides are attributed to replenishment needs and increased disease pressure due to wet weather [2][12] - The market for fungicides is expected to maintain high prices in the short term, with potential tight supply or shortages anticipated [2][12] - The company expects to see continued high prices for its products in the upcoming quarters, influenced by seasonal demand and market conditions [2][9][31] Product-Specific Insights - Mancozeb and Dimethomorph are crucial in managing plant health and are widely used due to their low resistance risk [2][14] - The price of Dimethomorph has increased significantly, with a rise from approximately 350,000-360,000 CNY to around 460,000 CNY, marking a nearly 30% increase [2][5] - The price of Mancozeb has also seen a substantial increase, from 46,000 CNY to 65,000-66,000 CNY, with additional costs for higher purity grades [2][5] Competitive Landscape - Multinational companies in Brazil sell patented products at higher prices due to a combination of patented and off-patent products, affecting farmers' choices [2][15] - The market for patented products is declining as farmers increasingly opt for more cost-effective non-patented alternatives [2][16] Conclusion - The fungicide market, particularly in Brazil, is characterized by strong demand, rising prices, and a focus on cost-effective solutions. Limin Co., Ltd. is well-positioned to capitalize on these trends with its leading products and production capacity. Future market dynamics will depend on seasonal demand, supply conditions, and competitive strategies.

Summary of the Conference Call Company and Industry Overview - The conference call involved **Limin Co., Ltd.**, focusing on the **pesticide industry**, particularly the market for fungicides in Brazil, which is identified as the largest market for fungicides globally [1][4]. Key Points and Arguments 1. **Market Conditions**: The Brazilian fungicide market has experienced a significant increase in demand due to higher rainfall, which has led to more severe fungal diseases, thus increasing the need for fungicides [4][5]. 2. **Inventory Levels**: Current inventory levels in Brazil are relatively low compared to historical standards, following a period of destocking over the past two to three years [5][6]. 3. **Product Demand**: The introduction of new fungicides, particularly those with expired patents, has driven up the usage of protective fungicides, leading to increased application rates of products like **Bacillus subtilis** and **Daimon** [6][7]. 4. **Pricing Trends**: The price of key products such as **Bacillus subtilis** has seen a significant increase, with current market prices reported at around **26,000 to 27,000** per ton, reflecting a **40% increase** from previous levels [34][35]. 5. **Market Dynamics**: The overall market is expected to maintain high prices due to ongoing demand and low inventory levels, with projections indicating that this trend will continue into the first quarter of the following year [10][11]. 6. **Impact of Agricultural Prices**: The decline in prices for crops like corn and soybeans has led farmers to opt for more cost-effective fungicides, which has positively impacted the demand for Limin's products [11][12]. 7. **Production Capacity**: The company has a strong production capacity, ranking among the top in the domestic market, and has recently acquired assets to strengthen its insecticide business [7][8]. 8. **Future Outlook**: The company anticipates a robust demand in the upcoming quarters, particularly in the traditional peak season for agricultural chemicals, which is expected to drive further sales growth [14][42]. Additional Important Information - **Regulatory Compliance**: The call emphasized the importance of adhering to legal and regulatory standards, avoiding the dissemination of non-public information [1][2]. - **Market Challenges**: The introduction of new products has led to concerns about resistance, necessitating the use of protective fungicides in combination with newer products to mitigate this risk [6][17]. - **Global Market Trends**: The company is also exploring opportunities in Southeast Asia and Africa, indicating a broader strategy beyond the Brazilian market [42][43]. - **Investor Engagement**: The management expressed a commitment to maintaining open communication with investors and providing updates on market conditions and company performance [56][57]. This summary encapsulates the key insights from the conference call, highlighting the current state and future outlook of Limin Co., Ltd. within the pesticide industry.

关于控股股东、实际控制人部分股份解除质押的公告 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。 | 股东 | 是否为 第一大 股东及 | 本次解除质 | 本次解 除质押 占其所 | 本次解 除质押 占公司 | 质押开 | 解除质押 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 一致行 | 押股数（股） | 持股份 | 总股本 | 始日期 | 日期 | | | | 动人 | | 比例 | 比例 | | | | | 李明 | 是 | 972,168 | 1.32% | 0.26% | 2024.03 | 2024.11. | 华西证券股 份有限公司 | | | | | | | .04 | 13 | | | 合计 | - | 972,168 | 1.32% | 0.26% | - | - | - | 一、股东股份本次解除质押的基本情况 二、股东股份累计质押的情况 股票代码：002734 股票简称：利民股份 公告编号：2024-108 截至公告披露日，上述股东及其一致行动人所持质押股份 ...

股票代码：002734 股票简称：利民股份 公告编号：2024-107 利民控股集团股份有限公司 关于回购部分社会公众股份的进展公告 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。 利民控股集团股份有限公司（以下简称"公司"）于 2024 年 2 月 5 日召开的 第五届董事会第二十二次会议，审议通过了《关于回购部分社会公众股份方案的议 案》，同意公司以集中竞价交易方式使用自有资金回购公司部分股份，回购股份价 格不超过人民币 11.52 元/股，回购资金金额不低于人民币 10,000 万元（含）且不 超过人民币 18,000 万元（含），回购股份的实施期限为自公司股东大会审议通过回 购方案之日起 12 个月。 本次回购部分社会公众股份方案情况详见公司在巨潮资讯网（http:// www.cninfo.com.cn）上披露的相关公告。 一、回购公司股份的进展情况 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第 9 号--回购股份》（以下简称"《监管指引》"）等相关规定，公司回购期间，每个月的 前三个交易日内披露截至上月末的回购进展情况，现将公 ...

Investment Rating - The report assigns a "Buy" rating for the company, marking the first coverage of the stock [2][10]. Core Insights - The company's core pesticide products have seen price increases, contributing to a significant improvement in profitability in Q3 compared to the previous year [2][4]. - Despite a downturn in the pesticide industry, the company reported a net profit of 0.19 billion yuan in Q3, a year-on-year increase of 154.77% [3][9]. - The company has engaged in strategic partnerships to enhance its research and development capabilities in synthetic biology and biopesticides [5]. Financial Performance Summary - For the first three quarters of 2024, the company achieved a revenue of 3.344 billion yuan, a year-on-year decrease of 1.58%, while the net profit attributable to shareholders was 0.051 billion yuan, an increase of 132.76% [2][9]. - In Q3 alone, the company reported a revenue of 1.046 billion yuan, down 4.19% year-on-year and 20.03% quarter-on-quarter, but the net profit showed a remarkable increase [3][9]. - The gross margin for Q3 was 18.35%, up 3.90 percentage points year-on-year, indicating improved cost management [3][9]. Price Trends and Market Position - The company raised prices for its core products by 5-10% in September and October 2024, which has positively impacted its financial performance [4]. - As of October 30, 2024, the market prices for key products such as Bacillus subtilis and Abamectin have increased by 16.66% and 8.71% respectively compared to Q3 averages [4]. Future Earnings Forecast - The company is projected to achieve revenues of 4.2 billion yuan in 2024, with net profits expected to reach 0.85 billion yuan, reflecting a recovery in the pesticide industry [10][12]. - The expected price-to-earnings ratios for 2024, 2025, and 2026 are 34, 21, and 14 respectively, indicating a favorable valuation outlook as the market share is anticipated to grow [10][12].

股票代码：002734 股票简称：利民股份 公告编号：2024-105 利民控股集团股份有限公司关于 2024 年 前三季度计提信用减值损失及资产减值损失的公告 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、本次计提资产减值损失和信用减值损失情况概述 公司根据《深圳证券交易所股票上市规则》《企业会计准则》等相关规定，本 着谨慎性原则，对 2024 年 9 月末合并财务报表范围内的各项资产等进行了减值测 试，判断存在可能发生减值的迹象，确定了需要计提资产减值损失及信用减值损失 的资产项目。 根据评估和分析的结果判断，计提 2024 年 1-9 月各项资产减值损失 42,100,587.01 元，计提各项信用减值损失 18,014,627.87 元，具体情况如下： | 项目 | | 期初余额 | 计提 | 其他[注] | 减少（转销） | 期末余额 | | --- | --- | --- | --- | --- | --- | --- | | 原材料 | | 777,603.55 | | | 285,361.17 | 492,242.38 | | 库存商品 ...