证券代码：002749 证券简称：国光股份 公告编号：2026-005号 四川国光农化股份有限公司 关于取得发明专利证书的公告 2026 年 3 月 26 日 近日，四川国光农化股份有限公司（以下简称"公司"）子公司四川润尔科技 有限公司（以下简称"润尔科技"）收到一项国家知识产权局颁发的《发明专利证 书》，专利权人为润尔科技，具体情况如下： | 专利权人 | 专利号 | | 专利名称 | 申请日期 | 专利 期限 | 证书号 | | 授权公告号 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 润尔科技 | ZL | 2025 1 | 一种抑制穗发芽的 农药组合物、制剂 | 2025年12月9日 | 20 年 | 第8799469号 | CN | 121286462 | B | | | 1843272.2 | | 及其应用 | | | | | | | 本发明涉及农药技术领域，具体为一种抑制穗发芽的农药组合物、制剂及其应 用。本发明通过对各组分的科学配伍，能够抑制穗发芽，且用药安全。 该专利的取得有效地保护了发明创造成果，有 ...

四川国光农化股份有限公司 投资者关系活动记录表 证券代码： 002749 证券简称：国光股份 四川国光农化股份有限公司投资者关系活动记录表 编号：2026-006 投资者关系 活动类别 ☑特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他（ ） 活动参与人员 富国基金 郑蔚宇 国光股份 董事会秘书颜铭、证券投资部副部长向阳 时间 2026 年 3 月 24 日 地点 公司龙泉办公区 形式 现场会议 交流内容及具 体问答记录 问 1：对公司作物全程解决方案推广的主要影响因素有哪些？ 答：对公司作物全程解决方案推广的影响因素主要有：农产品 收购价格、目标市场区域土地流转情况（流转程度越高、大户越多， 对公司作物全程解决方案推广越有利）、渠道质量与覆盖情况等方 面。 问 2：公司对销售人员的需求与招聘、培养情况如何？ 答：公司的技术服务模式对终端推广人员的需求大、技术要求 高：一是因为公司主要通过地推的方式实现产品销售，要覆盖更多 的空白市场和空白作物就需要增加技术营销人员；二是因为持续开 展技术观摩会、测产会、经销商培训会、种植户培训会等会议，以 宣传展示产品、全程 ...

证券代码： 002749 证券简称：国光股份 四川国光农化股份有限公司投资者关系活动记录表 编号：2026-005 投资者关系 活动类别 ☑特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他（ ） 活动参与人员 东方证券 万里扬 长城基金 张坚、陈良栋、余欢、江舒盈 国光股份 董事会秘书颜铭、证券投资部副部长向阳 时间 2026 年 3 月 20 日 地点 公司龙泉办公区 形式 电话会议 交流内容及具 体问答记录 问 1："一证一品"政策对行业的影响？ 答：2025 年 6 月 29 日，农业农村部为了规范农药标签和说明 书管理，发布 925 号公告，并宣布自 2026 年 1 月 1 日起实施。第 925 号公告规定，同一个登记证号的农药产品应当标注同样的商标， 以确保全国范围内销售产品使用商标的一致性。具体而言，在符合 《农药标签和说明书管理办法》第三十一条规定的前提下，同一登 记证号的农药产品可以根据实际需要标注一个或多个商标，但必须 保持市场销售的同一登记证号的农药产品标注商标的一致性。该公 告对农药标签作出进一步规范，有利于保障农药质量，有利于维护 公 ...

地缘局势预期波动不改行业长期逻辑推进 核心观点 基础化工行业 行业研究 | 行业周报 有关分析师的申明，见本报告最后部分。其他重要信息披露见分析师申明之后部分，或请与您的投资代表联系。并请阅读本证券研究报告最后一页的免责申明。 投资建议与投资标的 ⚫ 中东局势现实趋严而预期缓解：本周行情仍主要受中东局势主导。虽然霍尔木兹海 峡通行问题还未有效缓解，油价与绝大多数化工品价格持续上涨，但股票行情却出 现较大的波动。我们认为波动的主要原因是市场对于局势可能较快缓解的预期变 化。然而从目前情势看，油气原料的现实短缺问题还在不断加剧。特别是海外化工 企业受制于整体资源体量问题，不稳定性更大。我们认为短期内可能会出现越来越 多的海外化工企业调降负荷，甚至停产。对于投资来说，首先现实与预期的进一步 分化会带来短期机会。更重要的是对于战争前就处于景气提升通道的行业来说，战 争导致的供给短期缺失，实际加速了中长期逻辑的推进。因此我们仍然看好前期重 点关注的聚氨酯，PVC 和聚酯瓶片等子行业。 ⚫ 关注甜味剂行业供需边际向好变化：市场前期对三氯蔗糖景气预期较低，主要是因 为 24 下半年至 25 上半年行业进行过一轮减产协同，但 ...

Group 1: Company Overview and Market Potential - Sichuan Guoguang Agricultural Chemical Co., Ltd. is the largest company in China in terms of registered varieties and sales of plant growth regulators [2][3] - The market capacity for plant growth regulators is approximately 60 billion RMB, indicating significant growth potential as the current market scale is far below this estimate [3] Group 2: Business Strategies for Revenue Growth - The company aims for "extreme simplicity" in growth by exploring untapped regions and crops within its existing marketing network [4] - Emphasis on developing new green fertilizer products and integrating fertilization solutions to meet market demands [4] Group 3: Production and Supply Chain - The company has achieved self-sufficiency in the production of core plant growth regulator raw materials, with a project underway to produce 15,000 tons of raw materials and intermediates annually [4] - Raw material price fluctuations are managed to maintain stable gross margins for fertilizers [4] Group 4: Financial Health and Shareholder Returns - The company has maintained a sales cash collection rate of over 90% since its listing, with a low debt-to-asset ratio, allowing for consistent cash dividends to shareholders [5] - Future shareholder returns will align with the "Three-Year Shareholder Return Plan (2024-2026)" [5] Group 5: Technological Advancements - The company recognizes the importance of digital technologies, such as AI, in enhancing agricultural service efficiency and precision [5] - A robust technical service team has accumulated extensive field data, supporting the application of AI in human resource management, product development, and knowledge management [5]

Investment Rating - The industry investment rating is maintained as "Positive" [5] Core Viewpoints - The report emphasizes that the stability of raw material supply has become the primary concern for the chemical industry due to ongoing conflicts in the Middle East [2][7] - The report highlights the recovery opportunities across various sub-sectors of the chemical industry, particularly in MDI, PVC, refining, and agricultural chemicals [3][7] Summary by Relevant Sections Investment Recommendations and Targets - The report recommends several companies: - MDI leader: Wanhua Chemical (600309, Buy) - PVC industry players: Zhongtai Chemical (002092, Not Rated), Xinjiang Tianye (600075, Not Rated), Chlor-alkali Chemical (600618, Not Rated), Tianyuan Co., Ltd. (002386, Not Rated) - Refining industry leaders: Sinopec (600028, Buy), Rongsheng Petrochemical (002493, Buy), Hengli Petrochemical (600346, Buy) - Agricultural chemical leaders: Guoguang Co., Ltd. (002749, Buy), Xinyangfeng (000902, Buy), Shidanli (002588, Not Rated), Yuntu Holdings (002539, Not Rated), and Runfeng Co., Ltd. (301035, Buy) for pesticide formulations [3] - The report also notes the potential in the phosphorous chemical sector driven by rapid growth in energy storage, with companies like Chuanheng Co., Ltd. (002895, Not Rated) and Yuntianhua (600096, Not Rated) being highlighted [3] - In the oxalic acid industry, companies to watch include Hualu Hengsheng (600426, Buy), Huayi Group (600623, Buy), and Wankai New Materials (301216, Buy) [3] Market Dynamics - The report indicates that the market's focus has shifted from oil prices to the stability of raw material supply, with many companies adjusting their operations in response to geopolitical uncertainties [7] - It is noted that the PVC sector is expected to benefit from its reliance on coal as a primary raw material, which offers stability compared to ethylene-based PVC production [7] - The agricultural chemicals sector is anticipated to see an upward trend in demand due to rising agricultural product prices and the importance of food security amid geopolitical tensions [7]

证券代码：002749 证券简称：国光股份 公告编号：2026-004号 近日，四川国光农化股份有限公司（以下简称"公司"）二级子公司四川嘉智 生态科技有限公司（以下简称"四川嘉智"）收到一项国家知识产权局颁发的《发 明专利证书》，专利权人为四川嘉智，具体情况如下： | 专利权人 | 专利号 | | 专利名称 | | 申请日期 | | | 专利 期限 | 证书号 | 授权公告号 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 四川嘉智 | ZL | 2024 1 | 一种促进紫花苜蓿 增产和分枝的农药 | 2024 | 年9 | 月2 | 日 | 20 年 | 第8760624号 | CN 119111557 | B | | | 1224792.0 | | 制剂及方法 | | | | | | | | | 本发明涉及植物生长调节技术领域，是一种促进紫花苜蓿增产和分枝的农药制 剂及方法，在紫花苜蓿播种后生长至幼苗期时齐地刈割后施用，可以有效促进紫花 苜蓿分枝，提高紫花苜蓿产量，且不会造成紫花苜蓿品质的下 ...

四川国光农化股份有限公司 投资者关系活动记录表 四川国光农化股份有限公司 投资者关系活动记录表 三是植物生长调节剂不属于营养物质，不具备肥效，需要综合的管 理才能达到应用的最佳效果。因此，丰富的应用技术积累以及高质 量的技术服务对推广产品至关重要。据测算，植物生长调节剂的市 场容量约 600 亿元，目前其市场规模远低于前述测算的市场容量， 未来发展空间巨大。 证券代码： 002749 证券简称：国光股份 四川国光农化股份有限公司投资者关系活动记录表 编号：2026-003 | | ☑特定对象调研 □分析师会议 | | --- | --- | | 投资者关系 | □媒体采访 □业绩说明会 | | 活动类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他（ ） | | | 东吴证券 王英泽、陈岚静、胡翔 | | | 申万宏源 周超、李彦宏 | | 活动参与人员 | 国光股份 董事会秘书颜铭、证券事务代表李超、证券投资部副部 | | | 长向阳 | | 时间 | 2026 年 3 月 9 日 | | 地点 | 公司龙泉办公区 | | 形式 | 电话会议 | | 交流内容及具 | 一、向调研 ...

Investment Rating - The report maintains a "Recommended" rating for the chemical industry [1][28]. Core Insights - The global chemical industry is entering a significant upward cycle driven by anti-involution and AI demand, with China's leading companies benefiting from solid cost and efficiency advantages. The industry is expected to see a substantial increase in free cash flow as capacity expansion slows, transforming companies from cash-consuming entities to cash-generating ones. The upcoming peak season for chemicals is anticipated to enhance profitability, making it crucial to focus on demand, value, and supply dynamics for investment opportunities [3][28]. Summary by Sections Recent Trends - As of March 5, 2026, the Guohai Chemical Prosperity Index stands at 99.35, reflecting a 5.16 increase from February 26, 2026 [1]. Performance Metrics - The basic chemical sector has shown a performance increase of 7.4% over the past month, 23.6% over the past three months, and 50.8% over the past year [4]. Investment Opportunities 1. **Value-Driven Opportunities**: Potential for increased dividend yields in sectors such as coal chemicals (e.g., Hualu Hengsheng, Luxi Chemical), oil refining (e.g., Hengli Petrochemical, Sinopec), pesticides (e.g., Yangnong Chemical), and potassium fertilizers (e.g., Salt Lake Industry) [3]. 2. **Supply-Driven Opportunities**: Focus on domestic anti-involution policies and European capacity exits, with key players including PTA/Polyester (e.g., Xinfengming, Tongkun), glyphosate and organosilicon (e.g., Xingfa Group), and industrial silicon (e.g., Hoshine Silicon) [6]. 3. **Demand-Driven Opportunities**: Highlighting sectors benefiting from large-scale opportunities, including gas turbines (e.g., Zhenhua Group), refrigerants (e.g., Juhua), and energy storage (e.g., Chuanheng) [6]. Key Companies and Earnings Forecasts - The report tracks several key companies with their respective earnings per share (EPS) forecasts for 2024 to 2026, indicating a positive outlook for many, including Dongfang Shenghong, Hubei Yihua, and Wanhua Chemical [29]. Market Observations - The report notes that geopolitical tensions, particularly in the Middle East, are likely to drive oil prices higher, benefiting companies like China National Petroleum and CNOOC, while also increasing costs for petrochemical products [9][13]. Price Trends - Recent price increases have been observed in various chemical products, including MDI and TDI, with significant upward movements in raw material costs due to geopolitical events [14][18]. Conclusion - The chemical industry is positioned for a favorable outlook, driven by structural changes in supply and demand dynamics, with a focus on companies that can leverage these trends for growth and profitability [28].

Investment Rating - The report maintains a "Recommended" rating for the chemical industry [1] Core Insights - The report highlights the solid cost and efficiency advantages of leading Chinese chemical companies, which are entering a long-term upward performance phase. The recovery in demand is expected to sustain the improvement in the performance of supply-constrained sectors. The carbon emission control measures are likely to lead to a re-evaluation of the Chinese chemical industry, with capacity expansion slowing down significantly. This is expected to enhance free cash flow and potential dividend yields for companies, transforming them from cash-consuming entities to cash-generating ones. The report emphasizes the importance of demand, value, and supply in identifying investment opportunities [2][29] Summary by Sections Recent Trends - As of February 26, 2026, the Guohai Chemical Prosperity Index stands at 94.19, reflecting a slight increase of 0.22 from February 19, 2026 [1] Performance Analysis - The basic chemical sector has shown a performance increase of 6.0% over the past month, 26.1% over the past three months, and 52.2% over the past year, significantly outperforming the CSI 300 index [4] Investment Opportunities - **Value-Driven Opportunities**: Companies such as Hualu Hengsheng, Luxi Chemical, and Baofeng Energy are highlighted for their potential dividend rate increases [2] - **Supply-Driven Opportunities**: Companies like Xin Fengming and Tongkun Co. are noted for benefiting from domestic supply constraints and European capacity exits [6] - **Demand-Driven Opportunities**: The report identifies companies in sectors such as gas turbines, refrigerants, and energy storage as key beneficiaries of growing demand [6][7] Key Companies and Earnings Forecast - The report provides a detailed earnings forecast for various companies, indicating a positive outlook for firms like Dongfang Shenghong, Hubei Yihua, and Baofeng Energy, with expected earnings per share (EPS) growth in the coming years [30] Market Dynamics - The report discusses the impact of geopolitical tensions on oil prices, which are expected to rise, benefiting companies like China Petroleum and China National Offshore Oil Corporation. It also notes potential supply shortages in methanol and urea due to disruptions in Iranian production [10][11] Price Trends - Recent price movements include a significant increase in battery-grade lithium carbonate prices, which rose by 19.18% week-on-week, driven by supply constraints and demand recovery [14] Conclusion - The report concludes that the chemical industry is entering a favorable cycle, driven by supply-side constraints and increasing demand, making it an attractive investment area [29]