Group 1: Financial Performance - In Q1 2025, the company achieved a revenue of 385 million CNY, representing a year-on-year growth of 5.23% [3] - The pesticide segment generated a revenue of 249 million CNY, with a net profit of 79 million CNY, marking a 16% increase [3] - Fertilizer revenue reached 120 million CNY, reflecting a growth of 14.28% [3] - The overall gross margin was 46.25%, an increase of 2.42% compared to the previous year [3] Group 2: Growth Drivers - The growth in Q1 2025 was driven by the expanded influence of the company's comprehensive crop solutions and increased promotion area [3] - Sales volume and revenue of high-margin core products, such as plant growth regulators and water-soluble fertilizers, also contributed to the revenue growth [3] Group 3: Product Insights - The high gross margin of plant growth regulators is attributed to a diverse product range, low product homogeneity, and high technical content [5] - The company has a rich accumulation of application technology and unique technical services, enhancing its gross margin [5] Group 4: Shareholder Returns - The company plans to implement a mid-year dividend scheme for 2025, with at least two dividend distributions expected this year [5] - The 2024 annual shareholder meeting approved the 2025 mid-term dividend plan, aligning with the three-year shareholder return strategy (2024-2026) [5] Group 5: Market Position - In 2024, the sales revenue of plant growth regulators was approximately 880 million CNY, showing an 11.33% increase compared to 2023, outpacing the overall industry growth rate [5]

Core Viewpoint - The announcement details the share reduction plan of shareholder Hu Lixia, who intends to reduce her holdings in Sichuan Guoguang Agricultural Chemical Co., Ltd. by up to 5,112,293 shares, representing 1.092% of the total share capital [1][2]. Shareholder Reduction Details - Hu Lixia held 20,449,170 shares prior to the reduction, accounting for 4.37% of the total share capital [1]. - The reduction occurred between May 27, 2025, and June 13, 2025, with a total of 4,254,747 shares sold at an average price of 15.7 yuan per share, representing a reduction of 0.912% of the total share capital [1]. - After the reduction, Hu Lixia's remaining shares total 16,194,423, which is 3.472% of the total share capital [1]. Shareholding Structure Post-Reduction - Following the reduction, Hu Lixia's shareholding structure includes 857,546 shares with no selling restrictions and 15,336,877 shares with selling restrictions [1]. - The combined shareholding of Hu Lixia and Yan Yaqi after the reduction is not specified but is noted to comply with regulations [2].

证券代码：002749 证券简称：国光股份 公告编号：2025-039号 四川国光农化股份有限公司 关于股东减持股份实施情况公告 股东胡利霞保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 四川国光农化股份有限公司（以下简称"公司"）于 2025 年 2 月 20 日在《证 券时报》《证券日报》《中国证券报》《上海证券报》及巨潮资讯网（www.cninfo.com.cn） 刊登了《关于股东减持股份预披露公告》，披露了持有本公司股份 20,449,170 股 （占本公司总股本 4.37%）的股东胡利霞女士计划以集中竞价交易、大宗交易等方 式减持本公司股份不超过 5,112,293 股（占公司总股本的比例 1.092%）。 根据《深圳证券交易所上市公司自律监管指引第 18 号—股东及董事、监事、 高级管理人员减持股份》的规定，胡利霞女士与颜亚奇先生合并计算大股东身份， 本次减持计划实施前二人合计持有公司股份 40,898,340 股（占公司总股本的比例 8.73%）。共同遵守关于大股东信息披露、减持额度、减持限制 ...

Group 1: Financial Performance - In Q1 2025, the company achieved a revenue of 385 million CNY, representing a year-on-year growth of 5.23% [2] - The pesticide revenue was 249 million CNY, with a growth of 2.05%, while fertilizer revenue reached 120 million CNY, growing by 14.28% [2] - The overall gross margin was 46.25%, an increase of 2.42% compared to the previous year [2] - The net profit attributable to shareholders was 79 million CNY, reflecting a year-on-year increase of 16% [2] Group 2: Growth Drivers - The main reasons for sustained growth include the expanded influence of comprehensive crop regulation solutions, increased promotional areas, and enhanced marketing efforts for key products [3] - Price recovery in certain pesticides and fertilizers has stimulated consumer demand [3] - Rising grain prices have encouraged farmers to invest more in agricultural inputs [3] Group 3: Competitive Advantages - The company holds 142 registration certificates for plant growth regulators, accounting for approximately 8% of the total in China, making it the largest in terms of both registration and sales [3] - The establishment of the Crop Quality Regulation Technology Research Institute in 2017 has bolstered technical support, with over 100 researchers conducting trials nationwide [3] - The company has built a strong brand and distribution network, with over 6,200 dealers and more than 20 logistics warehouses across the country [3] Group 4: Market Outlook - Fluctuations in grain prices have a limited impact on the demand for essential agricultural inputs like pesticides and fertilizers [3] - The company plans to strengthen market promotion and expand into untapped markets to further increase revenue [3]

证券代码：002749 证券简称：国光股份 公告编号：2025-038 号 四川国光农化股份有限公司 关于完成市场主体变更登记的公告 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、变更登记事项的具体情况 四川国光农化股份有限公司（以下简称"公司"）于 2025 年 4 月 17 日召开 2024 年度股东大会审议通过了《关于修改<公司章程>的议案》。根据股东大会决议，公司 在四川省成都市市场监督管理局完成了相关事项的变更登记、备案，并于近日取得 了该局颁发的《营业执照》。 营业执照变更登记事项如下： 注册资本由"肆亿肆仟贰佰捌拾捌万贰仟贰佰捌拾壹元整"变更为"肆亿陆仟 陆佰叁拾伍万捌仟伍佰伍拾元整"。 其他登记事项无变更。 二、备查文件 1.公司《营业执照》 特此公告。 四川国光农化股份有限公司董事会 2025 年 6 月 11 日 ...

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 四川国光农化股份有限公司 投资者关系活动记录表 编号：2025-016 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 上海宁泉资产管理有限公司 邱炜佳 杭州恩宝资产管理有限公司 傅聪/潘宗德/周翔 国光股份 董事会秘书 颜铭 国光股份 证券事务代表 李超 时间 2025 年 6 月 6 日 地点 公司龙泉办公区 形式 现场调研 交流内容及具体问答记录 一、董事会秘书颜铭向投资机构简要介绍公司 2025 年第一季度经营情况 公司 2025 年第一季度营业收入 3.85 亿元，同比增长 5.23%。其中，农药营业收入 2.49 亿元，同比增长 2.05%；肥料营业收入 1.20 亿元，同比增长 14.28%。综合毛利率为 46.25%，同比上升 2.42%。公司实现归属于上市公司股东的净利 润 0.79 亿元，同比增长 16%。 二、沟通交流情况 问 1：公司业绩持续增长的主要原因 ...

Investment Rating - The industry investment rating is "Buy" for companies with strong fundamentals and low correlation to oil prices, suggesting a bottom-fishing strategy [10][18]. Core Viewpoints - The report indicates a recovery in macro expectations, with a notable increase in oil prices due to supply risks from geopolitical tensions and seasonal demand [10][14]. - The report emphasizes the importance of focusing on domestic demand and opportunities in new material substitutions, particularly in the agricultural chemical sector during the spring planting season [10][18]. Summary by Sections 1. Core Viewpoints - Oil prices have risen this week, with a focus on companies that have strong fundamentals and are less affected by oil price fluctuations [10][18]. - Recommendations include companies like Wanhua Chemical, Huamao Technology, Runfeng Co., Guoguang Co., and Hualu Hengsheng, highlighting their unique market positions and growth potential [10][18]. 2. Oil and Chemical Price Information 2.1 Oil - As of June 6, Brent oil prices increased by 4.02% to $66.47 per barrel, driven by supply risks and seasonal demand [14]. - U.S. crude oil commercial inventories decreased by 4.3 million barrels to 436.1 million barrels [14]. 2.2 Chemicals - Among 188 monitored chemical products, the top three price increases this week were for liquid chlorine (up 11.8%), natural gas (up 9.3%), and hydrochloric acid (up 4.6%) [15]. - The report notes significant monthly price changes, with hydrochloric acid increasing by 54.5% [10][15]. 3. Price and Spread Changes - The report highlights the top three products with the largest weekly spread increases: R410a spread (up 200.0%), acrylic acid butyl ester spread (up 58.2%), and PTA (up 45.9%) [10][20]. - Monthly spread changes show significant increases in the electric stone method PVC spread (up 216.9%) [10][20].

证券代码：002749 证券简称：国光股份 公告编号：2025-037 号 四川国光农化股份有限公司 关于使用闲置自有资金购买理财产品的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 四川国光农化股份有限公司（以下简称"公司"）2024 年 10 月 30 日召开第五届 董事会第二十四次会议审议通过了《关于使用闲置自有资金购买理财产品的议案》， 同意公司及子公司使用不超过人民币 50,000 万元（含本数）的闲置自有资金购买商 业银行及其他金融机构发行的安全性高、流动性好的理财产品，自公司董事会审议通 过之日起 12 个月内有效，在上述额度和期限内，资金可循环滚动使用。具体内容详 见 2024 年 10 月 31 日公司在指定信息披露媒体《证券时报》和巨潮资讯网 （www.cninfo.com.cn）上刊登的相关公告（公告编号：2024-118 号）。 近日，公司、子公司四川国光园林科技股份有限公司（以下简称"国光园林"） 收到与兴业银行股份有限公司成都分行（以下简称"兴业银行成都分行"）签订的《兴 业银行企业金融人民币结构性存款协议书》，公司、国光 ...

Investment Rating - The report maintains a "Buy" rating for key companies in the chemical industry, specifically recommending Minsheng Chemical's "Five Tigers": Shengquan Group, Guocera Materials, Guoguang Co., Anli Co., and Polymeric Co. [1][4] Core Insights - The chemical market is active, with growth stocks presenting a favorable allocation opportunity. The demand for phosphate fertilizers remains stable, and the high price of phosphate rock is expected to continue due to supply-demand balance. [1] - The domestic production capacity of polycarbonate (PC) is projected to grow significantly from 875,000 tons in 2018 to 3,810,000 tons by 2024, with an expected improvement in supply-demand dynamics from 2025 to 2029. [2] - The organic silicon industry is experiencing a recovery in the supply-demand balance, with a compound annual growth rate of 22.4% in production capacity from 2021 to 2024, driven by demand from emerging industries such as new energy vehicles and photovoltaics. [2] Summary by Sections Chemical Market Overview - The basic chemical industry index closed at 3,406.53 points, down 1.23% from the previous week, underperforming the CSI 300 index by 1.05%. [10] - Among 462 stocks in the chemical sector, 31% rose while 67% fell during the week. [18] Key Chemical Sub-Industries - **Polyester Filament**: The market is stable with slight price increases, and the average industry operating rate is approximately 89.96%. [26][27] - **Tires**: The operating rate for all-steel tires is 60.12%, down 2.88 percentage points from the previous week. [40] - **Refrigerants**: Prices for refrigerants like R22 and R134a are stable to strong, with R22 averaging 36,000 CNY/ton and R134a at 48,000 CNY/ton. [45][47] Price Trends - The top price increases for chemical products include cotton short velvet (up 15%), trichloromethane (up 14%), and domestic naphtha (up 13%). [24] - Conversely, the largest price drops were seen in liquid chlorine (down 71%) and TMA (down 9%). [25] Company Profit Forecasts - Guoguang Co. is projected to have an EPS of 0.78 CNY in 2024, with a PE ratio of 19, while Shengquan Group is expected to have an EPS of 1.03 CNY with a PE ratio of 25. Both companies are rated as "Recommended." [4]

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 问 4：公司如何对新员工进行培养？ 答：公司计划在农业院校招聘 300 名接受过系统、专业学习的 2025 届毕业生，目前已经完成招聘计划。公司采取公司集中培训、 团队培训、师傅带徒弟的方式持续对新员工进行应用技术培训。在 各个学习阶段对新员工采用笔试、讲课等方式进行专业知识考核。 新员工增长可以拓展渠道，覆盖更多的空白区域和空白市场，提升 技术服务能力和效率，推动公司营收增长。 问 5：公司对技术营销人员如何进行激励？ 答：一方面通过绩效考核对技术营销人员进行激励，绩效考核 包括三个部分：一是日常工作考核，如拜访用户数量、召开现场会 数量等；二是所在区域的产品销量考核，包括存量考核、增量考核； 三是单一产品销量考核，如毛利率高的产品销量考核等。另一方面， 对公司核心技术营销人员以股权激励的方式进行激励。 问 6：产能利用情况如何？ 编号：2025-015 | | ☑特定对象调研 | □分析师会议 | | | --- | --- | --- | --- | | 投资者关系 ...