Core Insights - The social security fund has invested in 478 stocks by the end of Q1, with 46 stocks held for over 20 consecutive quarters [1] - The fund's long-term holdings include 257 stocks held for more than four quarters, with 169 stocks held for over two years [1] - Notable long-term holdings include China Overseas Land & Investment, Zhongnan Media, and others, with the longest-held stock being China Overseas Land & Investment since Q2 2011 [1] Holdings Overview - The top holdings by quantity include Changshu Bank (254 million shares), Hualu Hengsheng (122 million shares), and China Jushi (84.52 million shares) [2] - The highest holding percentages are Changshu Bank (8.42%), Hualu Hengsheng (5.77%), and Keri International (5.70%) [2] - Among the 46 stocks, 12 saw an increase in holdings, with significant increases for Huayu Automotive (62.65%), Hualu Hengsheng (19.18%), and Yanjinpuzi (17.90%) [2] Performance Analysis - Of the 46 stocks, 28 reported year-on-year profit growth, with notable increases from Xiantan Co. (583.83%), Zhongyuan Media (234.61%), and China Jushi (108.52%) [3] - Conversely, 17 stocks experienced profit declines, with the largest decreases from Tianrun Dairy (-1713.36%), China Overseas Land & Investment (-303.09%), and Zhongqi Co. (-245.04%) [3] - Stocks with consistent profit growth over the past three years include Aide Biology, Yutong Bus, and Blue Sky Technology [3] Industry Distribution - The 46 stocks are concentrated in industries such as basic chemicals (6 stocks), automotive (5 stocks), and pharmaceutical biology (5 stocks) [2] - The main board contains 30 stocks, while the ChiNext board has 15 stocks, and the Sci-Tech Innovation board has 1 stock [2]

Financial Performance - The company reported a basic earnings per share of -0.0700 yuan for Q1 2025, a decrease of 250% compared to -0.0200 yuan in Q1 2024, and a significant drop from 0.2000 yuan in Q1 2023 [1] - The net profit for Q1 2025 was -0.34 billion yuan, a decline of 240% from -0.1 billion yuan in Q1 2024, and a stark contrast to a profit of 0.93 billion yuan in Q1 2023 [1] - The operating revenue increased by 16.52% to 5.29 billion yuan in Q1 2025, compared to 4.54 billion yuan in Q1 2024, but decreased from 7.42 billion yuan in Q1 2023 [1] - The return on equity was -1.59% in Q1 2025, a significant decline from -0.46% in Q1 2024 and down from 4.43% in Q1 2023 [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 84.16 million shares, accounting for 24.55% of the circulating shares, with a decrease of 3.87 million shares compared to the previous period [1] - Notable shareholders include Wu Yaojun with 33.98 million shares (9.91%), Wang Jie with 16.68 million shares (4.87%), and Guotai Jiatai Pension Product with 7.89 million shares (2.30%) [2] - New entrants among the top shareholders include Guotai Fund Management and China Bank, while several funds such as Jiashi Fund Management have exited the top ten list [2][3] Dividend Policy - The company has announced that it will not distribute dividends or transfer shares this time [4]

Financial Performance - The company's revenue for Q1 2025 was ¥529,298,407.37, representing a 16.54% increase compared to ¥454,174,060.88 in the same period last year[5] - The net loss attributable to shareholders was ¥34,102,227.34, a significant increase of 245.04% from a loss of ¥9,883,434.43 in the previous year[5] - The basic and diluted earnings per share were both -¥0.07, reflecting a 250.00% decline from -¥0.02 in the previous year[5] - Net profit for the period was a loss of ¥34,184,364.79, compared to a loss of ¥10,470,497.67 in the previous period, indicating a significant decline in profitability[19] - The total comprehensive income for the period was a loss of ¥34,184,364.79, compared to a loss of ¥10,470,497.67 in the previous period, reflecting worsening overall financial health[19] Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥46,537,549.48, a decrease of 142.82% compared to a positive cash flow of ¥108,675,167.33 in the same period last year[5] - Cash flow from operating activities showed a net outflow of ¥46,537,549.48, a stark contrast to a net inflow of ¥108,675,167.33 in the prior period[21] - The company’s cash and cash equivalents saw a net decrease of ¥85,271,144.70, a 937.65% increase in outflow compared to the previous year[8] - Cash and cash equivalents at the end of the period decreased to ¥284,147,118.61 from ¥364,248,185.33, a decline of approximately 22%[22] - Investment activities resulted in a net cash outflow of ¥57,836,732.77, slightly improved from a net outflow of ¥57,916,849.41 in the previous period[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,453,983,678.70, a slight increase of 0.95% from ¥4,412,257,969.81 at the end of the previous year[5] - Current assets totaled ¥1,859,442,851.92, up from ¥1,806,689,010.03 at the beginning of the period, reflecting a growth of approximately 2.8%[14] - Total liabilities amounted to ¥2,262,088,162.89, up from ¥2,188,500,688.78, representing a growth of about 3.4%[15] - Non-current assets decreased slightly to ¥2,594,540,826.78 from ¥2,605,568,959.78, a decline of approximately 0.4%[14] - The company's equity attributable to shareholders decreased by 1.50% to ¥2,090,414,909.08 from ¥2,122,194,536.87 at the end of the previous year[5] Expenses - The company reported a significant increase in sales expenses, which rose by 56.74% to ¥13,736,193.90 due to higher promotional and consulting costs[8] - Total operating costs increased to ¥555,416,189.11 from ¥461,724,648.54, representing a growth of approximately 20.2% year-over-year[18] - Research and development expenses rose to ¥19,024,755.17, up from ¥15,870,822.94, reflecting an increase of about 19.5%[18] - The company incurred financial expenses of ¥5,782,268.80, compared to a financial income of ¥4,027,041.62 in the previous period, indicating a shift in financial performance[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 16,304, with the largest shareholder holding 29.24% of the shares[9] - The net profit attributable to the parent company was not explicitly stated but can be inferred from the retained earnings of ¥1,241,271,901.80, down from ¥1,275,374,129.14, indicating a decrease of approximately 2.7%[15] - The company reported a decrease in employee compensation payable from ¥55,277,598.72 to ¥28,926,856.18, a reduction of about 47.7%[15] - The company maintained a stable capital reserve of ¥198,804,814.53, unchanged from the previous period[15]

证券代码：300575 证券简称：中旗股份 公告编号：2025-016 江苏中旗科技股份有限公司 薪酬与考核委员会关于 2025 年限制性股票激励计划首次授予激励 对象名单的核查意见及公示情况说明 公司于 2025 年 4 月 12 日在中国证监会创业板指定信息披露网站上公告了《江苏中 旗科技股份有限公司 2025 年限制性股票激励计划（草案）及摘要》《江苏中旗科技股份 有限公司 2025 年限制性股票激励计划实施考核管理办法》及《2025 年限制性股票激励计 划激励对象名单》等公告，并于 2025 年 4 月 12 日在公司公告栏公示了《2025 年限制性 股票激励计划激励对象名单》，对本次拟激励对象的姓名和职务进行了公示，公示时间 为 2025 年 4 月 12 日至 2025 年 4 月 21 日。截至本公告披露日，公司薪酬与考核委员会 未收到任何异议。 （二）关于公司薪酬与考核委员会对拟激励对象的核查方式 公司薪酬与考核委员会核查了本次拟激励对象的名单、身份证件、拟激励对象与公 司（含子公司）签订的劳动合同、拟激励对象在公司（含子公司）担任的职务。 二、薪酬与考核委员会核查意见 根据《管理办法》《公司 ...

Market Overview - The Shanghai Composite Index closed at 3299.76 points, above the annual line, with a change of 0.25% [1] - The total trading volume of A-shares reached 1,121.207 billion yuan [1] Stocks Breaking Annual Line - A total of 106 A-shares have broken above the annual line today [1] - Notable stocks with significant deviation rates include: - Youbuxun: 17.49% deviation, closing price at 15.18 yuan, with a daily increase of 20.00% and turnover rate of 6.57% [1] - Fujilai: 14.53% deviation, closing price at 29.09 yuan, with a daily increase of 20.01% and turnover rate of 30.40% [1] - Chongqing Construction: 8.33% deviation, closing price at 3.01 yuan, with a daily increase of 9.85% and turnover rate of 2.93% [1] Additional Stocks with Minor Deviations - Jiangxi Copper, Meirya, and Laimu Co. have just crossed the annual line with smaller deviation rates [1] - Other stocks with notable performance include: - Changjiang Investment: 7.98% deviation, closing price at 8.01 yuan, with a daily increase of 10.03% [1] - Qingtang City: 7.70% deviation, closing price at 3.78 yuan, with a daily increase of 9.88% [1] - Shenchuan A: 7.45% deviation, closing price at 6.75 yuan, with a daily increase of 9.93% [1] Summary of Stocks with Deviation Rates - A detailed table lists various stocks, their daily change percentages, turnover rates, annual line prices, latest prices, and deviation rates, highlighting the performance of stocks like: - Dongjiang Environmental: 3.70% deviation, closing price at 4.28 yuan, with a daily increase of 10.03% [1] - Feinan Resources: 3.56% deviation, closing price at 19.88 yuan, with a daily increase of 3.92% [1] - The table provides a comprehensive view of the market dynamics and stock performances on the day [2]

Group 1: Company Performance and Financials - The company achieved operating revenue of ¥2,422,198,069.32, a year-on-year increase of 1.35% [4] - The net profit attributable to shareholders was ¥11,721,037.33, a significant decline of 93.88% compared to the previous year [4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥24,498,601.05, down 89.02% year-on-year [4] Group 2: Future Growth Drivers - Future profit growth will be driven by factors such as increased demand for traditional green and environmentally friendly products, continuous process upgrades, and new project construction at production bases [1] - The company aims to expand its international market presence through "going global" strategies [1] Group 3: Industry Trends and Challenges - The pesticide industry is expected to transform towards greening, intelligence, and globalization, with a growing demand for high-efficiency, low-toxicity biopesticides [2] - The industry is experiencing structural changes due to international agricultural market fluctuations and stricter environmental policies [3] Group 4: Impact of External Factors - The company exports a low percentage of its products to the U.S., thus the impact of the U.S.-China tariff war is expected to be limited [2] - The company faces risks from raw material price fluctuations, environmental protection regulations, and safety production risks [8][9] Group 5: Product Development and Innovation - The company is focusing on the development of innovative pesticides, including FG001 and FG201, which are expected to have significant market potential [5][6] - FG001 is designed to effectively control major weeds in rice fields, while FG201 is a novel SDHI fungicide with a broad spectrum of efficacy [6] Group 6: Market Expansion and Risk Management - The company is committed to optimizing procurement management to mitigate risks associated with raw material supply and price volatility [8] - Measures are in place to manage exchange rate risks due to a significant portion of sales being denominated in U.S. dollars [9]

Summary of Conference Call Records Company and Industry Overview - The conference call discusses a company in the agricultural chemicals industry, specifically focusing on the production and sales of pesticides and herbicides. The company is navigating changes in sales models and production capacity for the year 2024 and beyond. Key Points and Arguments Financial Performance - The company reported a significant decrease in cash flow from operating activities, with amounts of 575 million and 643 million for the third and fourth quarters respectively, attributed to changes in sales models and increased domestic sales [1][1][1] - The profit contributions by quarter were as follows: Q1 showed a loss, Q2 contributed over 50 million in net profit, Q3 had a loss of over 14 million, and Q4 reported a loss of 4 million [1][1][1] - The overall sales cost and financial situation for 2024 are expected to remain stable, with no significant changes anticipated [3][3][3] Production Capacity and Utilization - The company has a production capacity utilization rate of 74.34% for raw materials and intermediates, and 84% for technical products, indicating a healthy production environment [2][2][2] - New projects are underway, including the expansion of production capacity for various products, which are expected to be completed by 2025 and 2026 [3][3][3] Research and Development - Continuous investment in R&D is emphasized, particularly in new textile drugs and innovative pharmaceuticals, with expectations of launching promising products in the future [4][4][4] - The company is focusing on developing new herbicides and has plans for multiple product launches in the coming years [6][6][6] Market Position and Pricing Strategy - The company holds a significant market share but is cautious about pricing strategies, indicating that the timing for price adjustments has not yet arrived [2][2][2] - The pricing environment is expected to stabilize, with indications that 2025 will be a more positive year compared to 2024 [8][8][8] Future Outlook - The company anticipates that 2025 will see improved performance compared to 2024, with expectations of higher production and sales volumes [5][5][5] - The introduction of new products and the stabilization of prices are expected to enhance profitability and market position [14][14][14] - The company is also exploring international markets and aims to expand its product offerings beyond domestic markets [26][26][26] Challenges and Risks - The company faces challenges related to fluctuating raw material prices and the need for regulatory approvals for new products, which may impact timelines for product launches [24][24][24] - There is a recognition of the competitive landscape in the agricultural chemicals sector, with a focus on maintaining quality and innovation to differentiate from competitors [9][9][9] Additional Important Content - The company is committed to a "second entrepreneurship" strategy aimed at achieving high growth rates and enhancing shareholder returns [17][17][17] - The management acknowledges the importance of effective communication with investors and stakeholders to build trust and transparency [27][27][27] This summary encapsulates the key insights from the conference call, highlighting the company's current performance, strategic initiatives, and future outlook within the agricultural chemicals industry.

证券代码：300575 证券简称：中旗股份 公告编号：2025-015 江苏中旗科技股份有限公司 关于 2024 年度股东大会增加临时提案暨股东大会补充通知的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 经江苏中旗科技股份有限公司（以下简称"公司"）第四届董事会第五次会议审议通 过，公司决定于 2025 年 4 月 29 日召开 2024 年度股东大会。具体内容详见公司于 2025 年 3 月 31 日在巨潮资讯网（www.cninfo.com.cn）披露的《关于召开 2024 年度股东大会 通知的公告》。 2025 年 4 月 11 日，公司第四届董事会第六次会议审议通过了《公司 2025 年限制性 股票激励计划（草案）及摘要的议案》《公司 2025 年限制性股票激励计划实施考核管理 办法的议案》以及《关于提请股东大会授权董事会办理公司 2025 年限制性股票激励计划 有关事项的议案》，此议案尚需提请公司股东大会审议。为提高决策效率，持有公司 3% 以上股份的股东吴耀军先生于 2025 年 4 月 11 日向公司董事会提交了《关于提请 2024 年 ...

证券代码：300575 证券简称：中旗股份 公告编号：2025-014 江苏中旗科技股份有限公司 第四届监事会第五次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 一、监事会会议召开情况 本议案尚需提交 2024 年度股东大会审议，并经出席股东大会的股东所持表决权的 三分之二以上通过。 2、审议通过《江苏中旗科技股份有限公司 2025 年限制性股票激励计划实施考核 管理办法的议案》 为了保证公司 2025 年限制性股票激励计划的顺利实施，进一步完善公司法人治理 结构，建立和完善公司激励约束机制，保证激励计划的顺利实施，并在最大程度上发 挥股权激励的作用，进而确保公司发展战略和经营目标的实现。依据有关法律、法规、 规章和规范性文件以及《公司章程》的规定，结合公司实际情况制定了《江苏中旗科 技股份有限公司 2025 年限制性股票激励计划实施考核管理办法》。 《江苏中旗科技股份有限公司 2025 年限制性股票激励计划实施考核管理办法》详 见公司在中国证监会指定创业板信息披露网站巨潮资讯网发布的公告。 江苏中旗科技股份有限公司（以下简称"公司"）第四届监 ...

证券代码：300575 证券简称：中旗股份 公告编号：2025-013 江苏中旗科技股份有限公司 第四届董事会第六次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 一、董事会会议召开情况 《江苏中旗科技股份有限公司 2025 年限制性股票激励计划实施考核管理办法》详 见公司在中国证监会指定创业板信息披露网站巨潮资讯网发布的公告。 江苏中旗科技股份有限公司（以下简称"公司"）第四届董事会第六次会议于 2025 年 4 月 11 日在南京市玄武区徐庄软件园苏园路 6 号 2 栋会议室召开，以现场及通讯表 决相结合的方式召开，会议应出席董事 5 人，实际出席董事 5 人。会议由董事长吴耀军 先生主持，公司监事和高级管理人员列席会议。会议通知已于 2025 年 3 月 28 日以电话 通知及电子邮件的方式向全体董事、监事及高级管理人员送达。本次董事会会议的召开 符合《中华人民共和国公司法》（以下简称"《公司法》"）和《江苏中旗科技股份有限 公司章程》（以下简称"《公司章程》"）的有关规定，会议合法、有效。 二、董事会会议审议情况 1、审议通过《江苏中旗科 ...