1.预留授予日：2025年1月10日 2.预留授予的限制性股票上市日：2025年3月7日 证券代码：002749 证券简称：国光股份 公告编号：2025-014 号 四川国光农化股份有限公司 关于 2024 年限制性股票激励计划预留授予登记完成的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示： 3.预留授予登记人数：45人 4.预留授予登记数量：47.28万股 5.预留授予价格：4.89元/股 6.股票来源：公司向激励对象定向发行公司A股普通股股票 根据中国证监会《上市公司股权激励管理办法》、深圳证券交易所、中国证 券登记结算有限责任公司深圳分公司有关规则的规定，四川国光农化股份有限公 司（以下简称"公司"）完成了2024年限制性股票激励计划（以下简称"本激励 计划"）的预留授予登记工作，具体情况公告如下： 一、本激励计划已履行的相关审批程序 （一）2024 年 1 月 8 日，公司第五届董事会第十八次（临时）会议审议通 过了《关于公司<2024 年限制性股票激励计划（草案）>及其摘要的议案》《关 于公司<2024 年限制性股票激励计划实施 ...

Investment Rating - The report assigns an "Outperform" rating to multiple companies in the agrochemical sector, including Wanhu Chemical, Baofeng Energy, Yanhai Co., and others, while some companies like SRF and Junzheng Group are rated as "Neutral" [1]. Core Insights - Stimulus policies in both China and India are expected to benefit agricultural development, with China focusing on enhancing the supply of important agricultural products and India increasing its agricultural budget [4][24]. - Fertilizer prices in China have been rising, with significant increases noted for urea, monoammonium phosphate (MAP), potassium chloride (MOP), and compound fertilizers [5][10][11][12]. - India's horticultural crop output is projected to reach a record high of 362.09 million tons in the 2024-2025 crop year, surpassing food crop production [28]. Summary by Sections 1. China Agrochemical Sector - The 2025 Central No. 1 Document emphasizes enhancing grain supply security and promoting rural revitalization [4]. - Recent price increases for major fertilizers in China include urea at 1,844.65 yuan/ton, MAP at 3,250 yuan/ton, MOP at 3,308.33 yuan/ton, and compound fertilizers at 3,000 yuan/ton [5][10][11][12]. 2. India Agrochemical Sector - The Indian government has increased the agricultural budget for 2025-2026 to 1.27 trillion rupees, up from 1.22 trillion rupees, aiming to launch new initiatives for long-term agricultural benefits [24][41]. - The output of economic crops in India is expected to reach a record 362.09 million tons, with significant growth anticipated in the production of tomatoes, onions, and potatoes [28]. 3. Technological Advancements - AI is being utilized in agriculture for soil testing, precision irrigation, and crop yield estimation, enhancing agricultural productivity [6][21][23]. - The Indian government plans to digitize crop surveys by 2025-2026, improving data accuracy and farmer support [33].

| 专利号 | 专利名称 | 申请日期 | 专利 | 期限 | 证书号 | 授权公告号 | | --- | --- | --- | --- | --- | --- | --- | | ZL202211647053.3 | 一种抑制罗汉松果生 长并保护枝叶的组合 | 2022年12月21日 | 20 | 年 | 第7761111号 | CN116076523B | | | 物及应用 | | | | | | 上述专利的取得有效地保护了发明创造成果，有利于加强公司的知识产权保护， 有利于提高公司技术创新能力及产品竞争力。但专利转化尚需一定时间，不会对公 司 2025 年的经营业绩产生重大影响。 证券代码：002749 证券简称：国光股份 公告编号：2025-013号 四川国光农化股份有限公司 关于获得发明专利证书的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 近日，四川国光农化股份有限公司（以下简称"公司"）的子公司四川国光园 林科技股份有限公司（以下简称"国光园林"）收到国家知识产权局颁发的《发明 专利证书》，专利权人为国光园林，具体情况如下： 特此公告。 ...

Group 1: Company Overview - The company has over 40 years of experience in plant growth regulators, making it a leader in the industry with the most registered products in China [2] - Revenue increased from CNY 600 million at the time of listing to CNY 1.86 billion in 2023, with a compound annual growth rate (CAGR) of 15.1% [2] - Net profit rose from CNY 110 million to CNY 290 million over the same period, with a CAGR of 10.7% [2] Group 2: Shareholder Returns - The company has distributed dividends 13 times, totaling CNY 1.455 billion, which accounts for 64.67% of the net profit attributable to shareholders [2] - The company has raised funds twice, amounting to CNY 723.8 million, resulting in a payout ratio of 200.984% [2] Group 3: Market Insights - The total market size for plant growth regulators is estimated at CNY 63 billion [3] - The growth rate of plant growth regulators is faster than other pesticides due to the relatively short application period in China and the presence of untapped markets [3] Group 4: Competitive Advantages - The company holds 22.5% of the 632 registered plant growth regulator certificates among 33 companies with more than 10 certificates [3] - Key competitive advantages include early market entry, a diverse product line, extensive distribution channels, strong technical service capabilities, and high user loyalty [3] Group 5: Workforce Development - The company plans to recruit 300 graduates from agricultural colleges in 2025 to meet the growing demand for technical service personnel [5] - Increased recruitment efforts are aimed at enhancing the professional capabilities of marketing personnel to support product sales through direct promotion [4]

Investment Rating - The report maintains a "Recommended" rating for Guoguang Co., Ltd. (002749.SZ) with a current price of 13.31 yuan [4]. Core Viewpoints - The central government's focus on food security and the introduction of "new agricultural productivity" in the 2025 Central Document highlights the importance of increasing agricultural yield [2][3]. - Guoguang Co., Ltd. is positioned as a leading enterprise in plant growth regulators, with significant growth potential in the large-scale crop market, driven by its comprehensive crop management solutions [3][4]. - The company is expected to achieve a net profit attributable to shareholders of 374 million yuan, 465 million yuan, and 578 million yuan for the years 2024, 2025, and 2026 respectively, with corresponding PE ratios of 17x, 13x, and 11x [3][4]. Summary by Relevant Sections Company Overview - Guoguang Co., Ltd. is actively expanding its presence in the large-scale crop market, leveraging its expertise in plant growth regulators and comprehensive crop management solutions [3]. Financial Forecast - The projected revenue for Guoguang Co., Ltd. is expected to grow from 2,254 million yuan in 2024 to 3,280 million yuan in 2026, reflecting a growth rate of 21.2% and 20.5% respectively [7][8]. - The net profit attributable to shareholders is forecasted to increase significantly, with a growth rate of 23.8% in 2024 and 24.3% in the following years [7][8]. Market Position - The report emphasizes the company's strong position in the plant growth regulator sector and its potential to benefit from the government's agricultural policies aimed at enhancing productivity [2][3].

Investment Rating - The report maintains a "Recommended" rating for Guoguang Co., Ltd. (002749.SZ) with a current price of 13.31 CNY [4]. Core Views - The central document emphasizes food security and introduces the concept of "new agricultural productivity," highlighting the importance of increasing agricultural yield [2][3]. - Guoguang Co., Ltd. is positioned as a leading enterprise in plant growth regulators, actively expanding its market in large-scale crop solutions, which is expected to drive significant revenue growth [3]. Summary by Sections Investment Outlook - Guoguang Co., Ltd. is expected to achieve net profits of 374 million CNY, 465 million CNY, and 578 million CNY for the years 2024, 2025, and 2026 respectively, with corresponding PE ratios of 17x, 13x, and 11x [3][7]. Financial Projections - The company’s total revenue is projected to grow from 1,860 million CNY in 2023 to 3,280 million CNY in 2026, reflecting a compound annual growth rate (CAGR) of approximately 20.5% [7][8]. - The net profit margin is expected to improve, with net profit growth rates of 165.9%, 23.8%, 24.3%, and 24.3% for the years 2023 to 2026 [7][8]. Market Position - The report highlights the company's comprehensive crop management solutions, which have been successfully implemented over approximately 700,000 acres in 2024, indicating a strong market presence and growth potential in the agricultural sector [3][6].

证券代码：002749 证券简称：国光股份 公告编号：2025-012号 四川国光农化股份有限公司 关于股东减持股份预披露公告 股东胡利霞女士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。 特别提示： 持有四川国光农化股份有限公司（以下简称"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在本公告披露次日起十五个交易日后的 三个月内以集中竞价交易、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%）。 公司于近日收到胡利霞女士《关于拟减持四川国光农化股份有限公司股份的告知 函》，现将具体情况公告如下： 一、股东的基本情况 （一）股东姓名：胡利霞 | 股东姓名 | 持有股份总数 | 占公司总 | 持有有限售条件 | 持有无限售条件 | | --- | --- | --- | --- | --- | | | （股） | 股本的比例 | 股份数量（股） | 股份数量（股） | | 胡利霞 | 20,449,170 | 4.37% ...

Group 1: Crop Management Solutions - In 2024, the company promoted its crop management solutions across approximately 700,000 acres [2] - For 2025, the company aims to significantly increase the promotion area of its crop management solutions [2] Group 2: Profit Distribution - As of the end of Q3 2024, the company's cash reserves amounted to ¥1,171,531,131.48, with retained earnings of ¥915,494,908.70, providing a solid basis for cash dividends [3] - The company has implemented mid-term dividends to stabilize investor expectations, in line with regulatory guidelines [3] Group 3: Recruitment Plans - The company plans to recruit 300 graduates from agricultural colleges in 2025 to enhance its technical service personnel [3] - The recruitment strategy is aimed at meeting the high demand for terminal promotion personnel in the company's technical service model [3] Group 4: Acquisition Strategy - The company remains committed to the plant growth regulator sector and seeks to achieve synergistic effects through potential acquisitions that align with its development strategy [3]

证券代码：002749 证券简称：国光股份 公告编号：2025-011号 四川国光农化股份有限公司 关于获得发明专利证书的公告 | ZL202310016272.X | 一种提高草坪草抗旱 | 2023年01月06日 | 20 年 | 第7723208号 | CN116267296B | | --- | --- | --- | --- | --- | --- | | 专利号 | 专利名称 性的方法 | 申请日期 | 专利 期限 | 证书号 | 授权公告号 | 上述专利的取得有效地保护了发明创造成果，有利于加强公司的知识产权保护， 有利于提高公司技术创新能力及产品竞争力。但专利转化尚需一定时间，不会对公 司 2025 年的经营业绩产生重大影响。 特此公告。 四川国光农化股份有限公司董事会 2025 年 2 月 18 日 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 近日，四川国光农化股份有限公司（以下简称"公司"）的子公司四川国光园 林科技股份有限公司（以下简称"国光园林"）收到国家知识产权局颁发的《发明 专利证书》，专利权人为国光园林，具体情况如下： ...

Group 1: Crop Management Solutions - In 2024, the company promoted its crop management solutions across approximately 700,000 acres [4] - For 2025, the company plans to enhance promotion efforts through yield meetings and technical training sessions [4] - The company aims to integrate solutions for both food and economic crops, expanding its marketing efforts in key markets [4] Group 2: Economic Crop Marketing - The company is increasing its marketing focus on economic crops due to successful outcomes in 2024 [4] - Economic crops have a strong and sticky demand for plant growth regulators, facilitating the promotion of related solutions [4] - The value per acre for economic crop solutions is high, significantly contributing to the company's revenue [4] Group 3: Non-Agricultural Product Sales - The company plans to boost sales of non-agricultural products by targeting community property management for green maintenance [4] - The demand for green maintenance in residential areas has increased due to improved living environments [4] Group 4: Regulatory Impact - The upcoming "One Certificate, One Product" policy may benefit companies with extensive resources and strong brand influence [5] - The new regulation will limit the labeling of pesticide products to a single trademark per registration holder [5] Group 5: Recruitment Plans - The company intends to recruit 300 graduates from agricultural colleges in 2025 to meet the demand for technical service personnel [5] - The recruitment plan for 2025 has been completed by the end of 2024 [5]