证券代码：002999 证券简称：天禾股份 公告编号：2025-028 会议由董事长刘艺召集并主持，全体监事、部分高级管理人员列席本次会议。 本次会议召开符合有关法律、行政法规、部门规章和《广东天禾农资股份有限公 司章程》的规定。 二、董事会会议审议情况 1、审议通过《关于修订〈广东天禾农资股份有限公司章程〉并变更公司法 定代表人的议案》 为进一步优化公司的治理结构，董事会同意根据《中华人民共和国公司法》 《上市公司章程指引》等相关规定，结合公司实际情况，对《广东天禾农资股份 有限公司章程》（以下简称"《公司章程》"）进行修订。公司拟在《公司章程》 修订生效后，将公司法定代表人由董事长刘艺先生变更为总经理姚伟英先生。公 司董事会提请股东大会授权公司董事会，于股东大会审议通过本事项后由董事会 授权相关人员及时向市场监督管理部门办理相关变更登记手续。 具体内容详见公司披露于巨潮资讯网（http://www.cninfo.com.cn）的《广东 天禾农资股份有限公司章程》《关于修订〈广东天禾农资股份有限公司章程〉并 变更公司法定代表人的公告》（公告编号：2025-030）。 表决结果：9 票同意，0 票反对，0 票 ...

Core Viewpoint - The company is facing challenges due to a downturn in the agricultural product and raw material prices, leading to a decline in overall performance despite stable sales volume of fertilizers and pesticides [1] Group 1: Company Performance and Strategy - In 2024, the company plans to enhance its product operation platform and decision-making mechanisms to mitigate market risks [1] - The company aims to improve its logistics and distribution efficiency while reducing costs through a comprehensive logistics system [1] - The company is focused on increasing operational management quality and solidifying its market position in agricultural product circulation [1] Group 2: Future Growth Initiatives - The company intends to advance the construction of an agricultural social service system to enhance service effectiveness [1] - The company is promoting "community-village" cooperation pilot projects to develop an "order agriculture + full-process social service" model [1] - The company plans to establish a high-quality seed industry business segment [1] Group 3: Recent Financial Performance - In Q1 2025, the company achieved total revenue of 3.934 billion, a year-on-year increase of 21.59% [2] - The company reported a net profit attributable to shareholders of 14.2642 million, up 107.32% year-on-year [2] - The company's gross margin improved to 5.8%, an increase of 0.33 percentage points compared to the previous year, indicating enhanced profitability [2]

Core Viewpoint - The company, Tianhe Co., Ltd. (002999), held an online performance briefing for its 2024 annual report, but it selectively addressed questions, focusing on positive aspects while avoiding sensitive issues, leading to concerns about the transparency of its disclosures [2][3]. Financial Performance - In 2024, the company achieved a revenue of 14.455 billion yuan, a year-on-year decrease of 6.81% [2]. - The net profit attributable to shareholders was 22.2373 million yuan, representing a significant decline of 77.8% year-on-year [2]. - The net profit after deducting non-recurring items was 17.7328 million yuan, down 80.81% year-on-year [2]. - Basic earnings per share were 0.06 yuan [2]. Revenue Quality - The company's net profit has decreased from 106 million yuan in 2022 to 22.2373 million yuan in 2024, marking a low point in recent years [3]. - Accounts receivable increased significantly from 164 million yuan in 2022 to 465 million yuan in 2024, indicating a decline in revenue quality [3]. Inventory Management - The proportion of inventory to total assets rose from 32% in 2022 to 38% in 2024, with a year-end inventory impairment provision of 32.6583 million yuan in 2024 [4]. Cash Flow - The net cash flow from operating activities was -516 million yuan in 2024, a substantial decline of 190.81% year-on-year [5]. - Over the past three years, the net cash flow from operating activities has shown a continuous decline, with figures of 210 million yuan, -180 million yuan, and -520 million yuan [5]. Asset Impairment - In the first quarter of this year, the company recognized an asset impairment provision of 17.1044 million yuan, which included provisions for bad debts on accounts receivable and inventory [5].

Group 1: Product Strategy and Development - The company aims to enhance its product structure based on market demand, focusing on "green agricultural inputs" and optimizing the production structure of agricultural products [2][3] - The company is increasing R&D efforts for new types of fertilizers, including organic, water-soluble, and slow-release fertilizers, to ensure product diversification [3] - The company is committed to improving the quality of its self-produced pesticides and has established a new seed industry company to develop various crop seeds [3] Group 2: Cost Reduction and Efficiency - Future plans include improving the product operation platform and decision-making mechanisms to reduce market risks [3][4] - The company aims to enhance its logistics and warehousing efficiency to lower logistics costs [3][4] - A comprehensive budget management system will be implemented to improve operational efficiency and achieve cost reduction [3][4] Group 3: Revenue Growth and Market Position - The company plans to enhance its operational management quality and strengthen its market position in agricultural input distribution [3][4] - Initiatives include advancing the "socialized agricultural service system" and developing a high-quality seed industry business segment [3][4] - The company is exploring new profit growth points through strategic planning and partnerships [3][4] Group 4: Financial Performance and Challenges - In 2024, the company experienced a decline in revenue, with profits and net profits dropping significantly by 77.8%-80% due to low demand and pressure on profit margins [5] - Despite a 21.6% increase in revenue in Q1 2025, profits rose by 107% due to improved product gross margins [5] - The company has made provisions for asset impairment on inventory and accounts receivable in accordance with accounting standards [5] Group 5: Strategic Partnerships and Market Expansion - The company maintains stable partnerships with key potassium fertilizer suppliers while exploring domestic potassium fertilizer sources [4][5] - The company is the national general distributor for "Xian Nong Bi Bei" in collaboration with the U.S. [5] - The company is actively advancing the construction of a digital agricultural service platform [5]

广东连越律师事务所 关于广东天禾农资股份有限公司 关于广东天禾农资股份有限公司 法律意见书 致：广东天禾农资股份有限公司 广东天禾农资股份有限公司（以下简称"公司"）于 2025 年 5 月 广东连越律师事务所（以下简称"连越"）受公司的委托，指派谢凤 仪律师、刘璐律师（以下简称"连越律师"）出席公司本次股东大会 并对本次股东大会的相关事项进行见证。 连越律师依据《中华人民共和国证券法》《律师事务所从事证券 法律业务管理办法》等规定及本法律意见书出具日以前已经发生或者 存在的事实，严格履行了法定职责，遵循勤勉尽责和诚实信用原则， 进行了充分的核查验证，保证本法律意见书所认定的事实真实、准确、 完整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈 述或者重大遗漏，并承担相应法律责任。 本法律意见书仅供公司本次股东大会之目的而使用，不得被任何 人用于其他任何目的。 为出具本法律意见书，连越律师审阅了公司提供的以下文件，包 括但不限于： 法律意见书 广东连越律师事务所 二〇二五年五月十三日 广东连越律师事务所 的通知》（以下简称"会议通知"）； 禾农资股份有限公司 2024 年年度报告摘要》； 案的公告》； ...

证券代码：002999 证券简称：天禾股份 公告编号：2025-027 广东天禾农资股份有限公司 2024 年年度股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示 1、本次股东大会不存在否决议案的情形。 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、 会议召开和出席情况 通过深圳证券交易所互联网投票系统（http://wltp.cninfo.com.cn）投票的具体 时间：开始投票的时间为 2025 年 5 月 13 日 9:15，结束时间为 2025 年 5 月 13 日 15:00。 （二）现场会议召开地点：广东省广州市越秀区东风东路 709 号十二楼 （三）召开方式：本次会议采用现场投票和网络投票相结合的方式召开 （四）召集人：公司董事会 （五）主持人：董事长刘艺先生 （六）本次会议的召集、召开符合《中华人民共和国公司法》《上市公司股东 会规则》《深圳证券交易所股票上市规则》等有关法律、行政法规、部门规章、 规范性文件和《公司章程》的有关规定。 （七）会议出席情况 （一）召开时间： 1、现场会议召开时间为：2025 ...

广东连越律师事务所 关于广东天禾农资股份有限公司 2024 年年度股东大会的 法律意见书 广东连越律师事务所 二〇二五年五月十三日 广东连越律师事务所 关于广东天禾农资股份有限公司 2024 年年度股东大会的 法律意见书 致：广东天禾农资股份有限公司 广东天禾农资股份有限公司（以下简称"公司"）于 2025 年 5 月 13 日召开了 2024 年年度股东大会（以下简称"本次股东大会"）。 广东连越律师事务所（以下简称"连越"）受公司的委托，指派谢凤 仪律师、刘璐律师（以下简称"连越律师"）出席公司本次股东大会 并对本次股东大会的相关事项进行见证。 连越律师依据《中华人民共和国证券法》《律师事务所从事证券 法律业务管理办法》等规定及本法律意见书出具日以前已经发生或者 存在的事实，严格履行了法定职责，遵循勤勉尽责和诚实信用原则， 进行了充分的核查验证，保证本法律意见书所认定的事实真实、准确、 完整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈 述或者重大遗漏，并承担相应法律责任。 本法律意见书仅供公司本次股东大会之目的而使用，不得被任何 人用于其他任何目的。 为出具本法律意见书，连越律师审阅了公司提供 ...

证券代码：002999 证券简称：天禾股份 公告编号：2025-026 广东天禾农资股份有限公司 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。 广东天禾农资股份有限公司（以下简称"公司"）已于 2025 年 4 月 22 日在 巨潮资讯网上披露了《2024 年年度报告》及《2024 年年度报告摘要》。为便于 广大投资者更加全面深入地了解公司经营业绩、发展战略等情况，公司定于 2025 年 5 月 14 日（星期三）15:00-16:00 在"价值在线"（www.ir-online.cn）采用网 络远程的方式举办公司 2024 年年度报告业绩说明会，与投资者进行沟通和交流， 广泛听取投资者的意见和建议。 出席本次业绩说明会的人员有：董事长刘艺先生，董事、财务总监邹金汉先 生，独立董事郭剑花女士，董事会秘书刘勇峰先生（如遇特殊情况，参会人员可 能进行调整）。 投资者可于 2025 年 5 月 14 日（星期三）15:00-16:00 通过 访问网址 https://eseb.cn/1o4IsgHieru 或使用微信扫描下方小程序码参与互动交流。为提升 交流的针对 ...

证券代码：002999 证券简称：天禾股份 公告编号：2025-026 广东天禾农资股份有限公司 关于举办2024年年度报告业绩说明会的公告 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。 广东天禾农资股份有限公司（以下简称"公司"）已于 2025 年 4 月 22 日在 巨潮资讯网上披露了《2024 年年度报告》及《2024 年年度报告摘要》。为便于 广大投资者更加全面深入地了解公司经营业绩、发展战略等情况，公司定于 2025 年 5 月 14 日（星期三）15:00-16:00 在"价值在线"（www.ir-online.cn）采用网 络远程的方式举办公司 2024 年年度报告业绩说明会，与投资者进行沟通和交流， 广泛听取投资者的意见和建议。 出席本次业绩说明会的人员有：董事长刘艺先生，董事、财务总监邹金汉先 生，独立董事郭剑花女士，董事会秘书刘勇峰先生（如遇特殊情况，参会人员可 能进行调整）。 投资者可于 2025 年 5 月 14 日（星期三）15:00-16:00 通过访问网址 https://eseb.cn/1o4IsgHieru 或使用微信扫描下 ...

Core Viewpoint - Tianhe Co., Ltd. reported significant growth in revenue and net profit for Q1 2025, indicating strong operational performance despite some financial health concerns [1][2]. Operating Performance - The company achieved total revenue of 3.934 billion yuan, a year-on-year increase of 21.59% [2]. - The net profit attributable to shareholders reached 14.2642 million yuan, reflecting a substantial year-on-year growth of 107.32% [2]. - The net profit excluding non-recurring items was 12.7176 million yuan, up 129.76% year-on-year, showcasing improved profitability [2]. Profitability - The gross profit margin stood at 5.8%, an increase of 6.05 percentage points compared to the previous year [3]. - The net profit margin was 0.33%, with a year-on-year growth rate of 54.91%, indicating effective cost control and efficiency improvements [3]. Financial Health - Cash and cash equivalents increased by 39.82% year-on-year to 1.224 billion yuan, but the ratio of cash to current liabilities was only 23.19%, suggesting liquidity risks [4]. - Interest-bearing debt decreased by 8.17% to 2.456 billion yuan, yet the interest-bearing asset-liability ratio remained high at 20.31% [4]. - The company has reported negative operating cash flow for the past three years, with a three-year average cash flow to current liabilities ratio of -3.03%, indicating potential ongoing cash flow pressures [4]. Accounts Receivable Situation - Accounts receivable slightly increased to 657 million yuan, but the ratio to profit was extremely high at 2954.68%, suggesting significant bad debt risks and pressure on cash recovery [5].