Core Viewpoint - The company's stock experienced an abnormal fluctuation with a cumulative closing price deviation exceeding 20% over two consecutive trading days on January 23 and January 26, 2026 [1] Group 1: Stock Performance - The stock price deviation was identified as an abnormal fluctuation, prompting a review by the company [1] - The company confirmed that there were no undisclosed significant information affecting the stock price during the fluctuation period [1] Group 2: Company Operations - The company reported that its production and operational environment remains normal [1] - There were no undisclosed major matters by the company or its controlling shareholders during the abnormal fluctuation [1] Group 3: Financial Reporting - The company plans to disclose its 2025 annual report on April 29, 2026 [1]

证券代码：003042 证券简称：中农联合 公告编号：2026-003 （二）业绩预告情况：预计净利润为负值 二、与会计师事务所沟通情况 山东中农联合生物科技股份有限公司 2025年度业绩预告 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、本期业绩预计情况 （一）业绩预告期间：2025 年 1 月 1 日-2025 年 12 月 31 日 | 项 目 | 本报告期 | | | 上年同期 | | | --- | --- | --- | --- | --- | --- | | 归属于上市公司 股东的净利润 | 亏损：12,800 | 万元–16,500 | 万元 | 亏损：12,245.31 | 万元 | | | 比上年同期下降：4.53% | - | 34.75% | | | | 扣除非经常性损 益后的净利润 | 亏损：13,150 | 万元–16,850 | 万元 | 亏损：12,763.18 | 万元 | | | 比上年同期下降：3.03% | | -32.02% | | | | 基本每股收益 | 亏损：0.90 | 元/股–1.16 | 元/股 | ...

Group 1 - The agricultural chemical sector increased by 0.77% on January 26, with Chengxing Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4132.61, down 0.09%, while the Shenzhen Component Index closed at 14316.64, down 0.85% [1] - Notable gainers in the agricultural chemical sector included Chengxing Co., Ltd. and Zhongnong United, both rising by 10.01% [1] Group 2 - The agricultural chemical sector experienced a net outflow of 40.45 million yuan from institutional investors, while retail investors saw a net inflow of 172 million yuan [2] - The top individual stock performers in terms of net inflow included Yuntianhua with a net inflow of 150 million yuan [3] - The overall trading volume and turnover for the agricultural chemical sector were significant, with Chengxing Co., Ltd. achieving a turnover of 7.53 billion yuan [1][2]

Group 1 - The agricultural chemical sector increased by 1.05% on January 23, with Zhongqi Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4136.16, up 0.33%, while the Shenzhen Component Index closed at 14439.66, up 0.79% [1] - Notable stock performances included Zhongqi Co., Ltd. with a closing price of 6.98, up 10.97%, and Zhongnong United with a closing price of 60.61, up 10.03% [1] Group 2 - The agricultural chemical sector experienced a net outflow of 258 million yuan from institutional investors, while retail investors saw a net inflow of 254 million yuan [2] - The top stocks by net inflow from retail investors included Chuanfa Longmang with a net inflow of 1.32 billion yuan and Chengxing Co., Ltd. with a net inflow of 8.44 million yuan [3] - The overall trading volume for the agricultural chemical sector was significant, with stocks like Chengxing Co., Ltd. and Dongfang Iron Tower recording high transaction amounts of 12.32 billion yuan and 11.16 billion yuan respectively [1][2]

Group 1 - The Shanghai Composite Index is at 4129.68 points, above the six-month moving average, with a change of 0.39% [1] - The total trading volume of A-shares today is 11670.90 billion yuan [1] - A total of 137 A-shares have surpassed the six-month moving average, with notable stocks including Huawi Design, Hualing Co., and Weichai Heavy Industry showing significant deviation rates of 22.56%, 9.80%, and 8.86% respectively [1] Group 2 - The top three stocks with the highest deviation rates from the six-month moving average are: - Huawi Design (29.96% increase, 25.22% turnover rate, latest price 18.22 yuan) with a deviation rate of 22.56% [1] - Hualing Co. (11.97% increase, 7.48% turnover rate, latest price 26.10 yuan) with a deviation rate of 9.80% [1] - Weichai Heavy Industry (10.00% increase, 4.42% turnover rate, latest price 33.43 yuan) with a deviation rate of 8.86% [1] Group 3 - Other notable stocks that have just crossed the six-month moving average include: - Haisen Pharmaceutical, Lian Technology, and Kaipu Biological, which have smaller deviation rates [1] - The trading performance of various stocks shows a range of increases, with some stocks like Huawi Design experiencing significant gains [1]

Core Viewpoint - The article discusses the impact of the upcoming export tax rebate cancellation on various companies in the glyphosate industry, highlighting their strategies to mitigate cost pressures and capitalize on market opportunities. Group 1: Company Strategies and Advantages - Xingfa Group, a leading player in the phosphate chemical industry, benefits from a complete supply chain and cost control, allowing it to quickly pass on cost pressures post-export tax rebate cancellation [1][19] - Yangnong Chemical, a leader in the biorational pesticide sector, plans to shift towards high-value formulation exports, leveraging its strong overseas registration and channel networks [2][20] - Hebang Biotechnology has a high self-sufficiency rate in raw materials, which helps it mitigate cost increases and capture orders during overseas inventory replenishment cycles [3][19] - Runfeng Co., a prominent pesticide exporter, can quickly adjust its product structure to high-value formulations, benefiting from its global partnerships and supply chain flexibility [4][20] - Xin'an Chemical, known for its integrated production model, significantly reduces costs and enhances flexibility in price transmission through its dual production of organic silicon and glyphosate [5][21] Group 2: Market Position and Growth Potential - Taihe Co. focuses on raw material production and aims to expand its market share by optimizing production costs and enhancing its domestic formulation market presence [6][22] - Andermatt Biocontrol, a global leader in pesticide formulations, plans to leverage its strong R&D capabilities and global network to maintain market leadership post-tax rebate changes [7][24] - Lier Chemical, with a complete R&D and production system, aims to enhance its market position through technological upgrades and a stable raw material supply chain [8][25] - Nopson, a leading pesticide formulation company, is expected to strengthen its domestic market position by quickly adapting to changes in export pressures [9][26] - Jiangshan Co., a top glyphosate producer, is positioned to benefit from its scale and technological advantages, allowing it to consolidate market share amid industry restructuring [10][28] Group 3: Industry Trends and Challenges - The glyphosate industry is experiencing consolidation, with companies poised to capture market share from smaller players exiting the market due to increased competition and regulatory pressures [11][29] - Companies are focusing on technological advancements and product iterations to address challenges such as glyphosate resistance and to enhance their competitive edge [12][30] - The shift towards high-value formulations and domestic market focus is a common strategy among companies to mitigate the impact of the export tax rebate cancellation [13][34]

Market Overview - The Shanghai Composite Index closed at 4114.00 points, above the annual line, with a change of 0.29% [1] - The total trading volume of A-shares reached 27,322.16 million yuan [1] Stocks Breaking Annual Line - A total of 129 A-shares have surpassed the annual line today [1] - Notable stocks with significant deviation rates include: - Xinlicheng (8.92%) - Junzheng Group (8.59%) - Tiandi Online (7.60%) [1] Stock Performance Details - The following stocks showed notable performance: - Xinlicheng: Today's change of 9.83%, turnover rate of 9.53%, latest price at 2.57 yuan [1] - Junzheng Group: Today's change of 8.68%, turnover rate of 5.01%, latest price at 5.76 yuan [1] - Tiandi Online: Today's change of 9.99%, turnover rate of 7.71%, latest price at 20.26 yuan [1] - Other stocks with smaller deviation rates include: - Hemai Co., Ltd. - Wukuang Capital - Huadian Liaoning Energy [1]

Core Viewpoint - The company, Zhongnong United (003042), emphasizes its integrated production capabilities in pesticide manufacturing, highlighting its competitive position in the market for new neonicotinoid pesticide products [1] Group 1: Company Overview - Zhongnong United is an integrated pesticide production enterprise with a strong focus on the research, production, and sales of new neonicotinoid pesticide products [1] - The company has accumulated rich experience in the production and sales of key pesticide raw materials, including imidacloprid, acetamiprid, abamectin, and thiamethoxam, which rank among the top in domestic production and sales [1] Group 2: Market Dynamics - The pesticide market is influenced by various factors, including demand, supply, and competition, which affect product pricing [1] - In response to intense market competition, the company plans to focus on its core business, strengthen operational management, and actively explore market opportunities [1] Group 3: Strategic Initiatives - The company aims to flexibly adjust its sales strategies and deepen efforts in cost reduction and efficiency enhancement [1] - The goal is to improve core competitiveness and operational performance in the face of market challenges [1]

Core Viewpoint - The company, Shandong Zhongnong United Biotechnology Co., Ltd., is providing a guarantee for its wholly-owned subsidiary's financing lease business, which involves a total guarantee amount exceeding 50% of the company's latest audited net assets [1][13]. Group 1: Financing Lease and Guarantee Overview - The company’s wholly-owned subsidiary, Shandong United Pesticide Industry Co., Ltd., has signed a financing lease contract with Supply and Marketing Group (Tianjin) International Financing Leasing Co., Ltd., for an amount of RMB 10 million, with a lease term of 36 months [4]. - The company provides a joint liability guarantee for the financing lease business [4]. - The total guarantee amount approved for the subsidiary is RMB 220 million, while the subsidiary can provide a guarantee of RMB 770 million to the company, totaling RMB 990 million [5]. Group 2: Approval and Contract Details - The company held board and shareholder meetings to approve the guarantee matters, with the financing amount for the subsidiary not exceeding RMB 100 million and an annual interest rate not exceeding 3.4% [6]. - The guarantee provided by the company falls within the previously approved guarantee limits, thus no additional approval procedures are required [6]. - The financing lease contract specifies that the lessee is Shandong United Pesticide Industry Co., Ltd., and the lessor is Supply and Marketing Group (Tianjin) International Financing Leasing Co., Ltd., with a total lease cost of RMB 10 million [12]. Group 3: Financial Data and Risk Status - As of the announcement date, the total guarantee amount for the company and its subsidiaries is RMB 990 million, with a total outstanding guarantee balance of RMB 607.64 million, accounting for 44.85% of the company's latest audited net assets [13]. - The company and its subsidiaries have not experienced any overdue guarantees or legal disputes related to guarantees [3][13].

Core Viewpoint - The company emphasizes the importance of product and technology innovation, focusing on the application of patented compounds and continuous optimization of product layout [2] Group 1: Product Development - The company has successfully developed a pesticide product, fluopyram, which has independent intellectual property rights and has been launched into the market [2] - The company has submitted registration application materials for a new efficient, low-toxicity, and low-risk nematicide, trifluoromethanesulfonamide, to the Ministry of Agriculture and Rural Affairs for approval [2] - Ongoing experiments are being conducted for the registration of innovative compounds such as fluopyram [2]