Group 1: Company Performance - In 2024, the company achieved a total operating revenue of 4.236 billion yuan, representing a year-on-year increase of 9.51%, and a net profit attributable to shareholders of 266 million yuan [1] - For Q1 2025, the company reported an operating revenue of 1.033 billion yuan, up 18.50% year-on-year, and a net profit of 79 million yuan, reflecting a significant growth of 50.94% [1] - The company's performance indicates that its strategic layout has begun to yield benefits, showcasing stronger development capabilities [1] Group 2: Agricultural Chemicals Market - The global pesticide market is showing signs of recovery in 2024, despite an expected contraction of 6.3% in the overall industry [2] - China, as the world's largest pesticide exporter, saw a 30.0% year-on-year increase in the export volume of herbicides, insecticides, and fungicides, totaling approximately 2.814 million tons [2] - The price of the protective fungicide, Bacillus subtilis, has rebounded by 66.67% since May 2024, significantly exceeding early 2024 levels [2] Group 3: Product and Innovation Development - The company has established itself as a "hidden champion" in the plant protection sector, with core products like Bacillus subtilis, 2,4-D, and pyraclostrobin achieving world-class production scale and quality [3] - The company is building a comprehensive product matrix covering the entire pesticide industry chain, having completed trial production of over 50 formulation products during the reporting period [3] - In 2024, pesticide products contributed 3.602 billion yuan in revenue, with insecticides and herbicides generating 1.465 billion yuan and 1.929 billion yuan, respectively, reflecting year-on-year growth of 23.39% and 2.64% [2][3] Group 4: Research and Development - The company has invested 147 million yuan in R&D, maintaining a stable investment level to promote the development of new pesticide varieties [4] - The company has synthesized over 3,000 compounds and identified multiple high-potential candidate compounds during the reporting period [4] - The company has achieved initial results in new pesticide creation, with its self-developed pesticide receiving export registration and forming a global strategic partnership for further development [4]

南通泰禾化工股份有限公司 2024 年度内部控制自我评价报告 南通泰禾化工股份有限公司（以下简称"本公司"或"公司"）为强化和规范公司内 部控制制度，防范和化解经营风险，促进公司持续发展和规范运作，根据《企业内部控制基 本规范》及其配套指引的规定和其他内部控制要求，以运营效率与效果、财务报告的可靠性 和法律法规的遵循为目标，对公司内部控制制度的健全与有效性开展了全面的自我评估，并 形成自我评价报告如下： 一、重要声明 按照公司内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性， 如实披露内部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控制进 行监督。管理层负责组织领导公司内部控制的日常运行。 公司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存在任何虚假记 载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个别及连带法律 责任。 公司内部控制的目标是保证经营管理合法合规、资产安全、财务报告及相关信息真实 完整，提高经营效率和效果，促进实现发展战略。 由于内部控制存在的固有局限性，故仅能为实现上述目标提供合理保证。此外，由于情 况的变化可能导致内部控制变得 ...

Core Viewpoint - 泰禾股份 has demonstrated significant growth in its financial performance post-IPO, with a notable increase in revenue and profitability in 2024 and the first quarter of 2025 [2][3]. Financial Performance - In 2024, 泰禾股份 achieved a total revenue of 4.236 billion yuan, representing a year-on-year growth of 9.51%, and a net profit attributable to shareholders of 266 million yuan [2]. - The company plans to distribute a cash dividend of 4 yuan per 10 shares, totaling 180 million yuan, which accounts for 67.68% of its net profit [2]. - For Q1 2025, 泰禾股份 reported a revenue of 1.033 billion yuan, up 18.50% year-on-year, and a net profit of 78.53 million yuan, reflecting a 50.93% increase [2]. Core Business Performance - The pesticide segment is the core business of 泰禾股份, generating 3.602 billion yuan in revenue in 2024, a growth of 11.40% year-on-year [2]. - The revenue from fungicides reached 1.465 billion yuan, increasing by 23.39%, while herbicides generated 1.929 billion yuan, up 2.64% [2]. Production and Market Dynamics - In 2024, the production and sales volume of pesticides grew by 6.27% and 4.37% respectively, with a production-sales rate of 99.04% and a capacity utilization rate of 94.01% [3]. - The recovery in the pesticide market, particularly in overseas markets, has contributed to the company's performance, with price increases for herbicides and fungicides in the second half of 2024 [3]. Product Development and Innovation - 泰禾股份 is focused on optimizing production processes to enhance cost efficiency and market competitiveness, with ongoing projects aimed at improving synthesis technology and resource utilization [4]. - The company has successfully completed trials for new products, including the self-developed cyhalofop-butyl, which has received export registration [4]. - The expansion of the product line and the introduction of new formulations are expected to open new market opportunities and drive revenue growth [4][5]. Strategic Vision - 泰禾股份 aims to strengthen its core pesticide business while expanding into new agricultural chemical innovations, aspiring to transition from a traditional agricultural chemical company to a global plant protection enterprise [5].

Core Viewpoint - 泰禾股份 has demonstrated strong financial performance and growth potential, with significant revenue and profit increases in 2024 and early 2025, alongside strategic advancements in innovation and international expansion [1][2][3] Financial Performance - In 2024, 泰禾股份 achieved a revenue of 4.236 billion yuan, a year-on-year increase of 9.51%, and a net profit attributable to shareholders of 266 million yuan, with a proposed cash dividend of 4 yuan per 10 shares, totaling 180 million yuan, which is 67.68% of the net profit [1] - For Q1 2025, the company reported a revenue of 1.033 billion yuan, a year-on-year growth of 18.50%, and a net profit of 78.53 million yuan, reflecting a 50.93% increase [1] Innovation and Product Development - 泰禾股份 emphasizes innovation and technology-driven strategies, achieving significant results in its "仿创并举" model, with over 3,000 synthetic compounds developed and several high-potential candidates identified [2] - The company is advancing the commercialization of环丙氟虫胺, which has received registration for export, and has formed a global strategic partnership with UPL to enhance product development and international commercialization [2] International Expansion - In 2024, 泰禾股份 established subsidiaries in Ecuador, Thailand, and Pakistan, enhancing its global marketing network and forming stable partnerships with major international agrochemical companies [3] - The company's overseas revenue reached 3.252 billion yuan, a year-on-year increase of 10.41%, accounting for 76.78% of total revenue, indicating a growing international presence [3] Future Development Strategy - 泰禾股份 aims to strengthen its core plant protection business while simultaneously developing functional chemical products, establishing a "dual-wheel drive" strategy [3] - The company plans to enhance production and supply chain resilience, deepen globalization efforts, and accelerate the launch of competitive products through increased R&D innovation [3]

Group 1 - Haiyuan Composite will implement delisting risk warning from April 29, 2025, with stock name changed to "*ST Haiyuan" and daily price fluctuation limit set at 5% [3] - Xinlaifu plans to acquire 100% of Jin Nan Magnetic Materials, with the transaction expected to constitute a major asset restructuring, and stock will resume trading on April 28, 2025 [4] - Hongbaoli's subsidiary successfully completed trial production of polyether technology transformation project, producing qualified products [5] - Xingguang Co. received a warning letter from Guangdong Securities Regulatory Bureau due to significant discrepancies in 2024 performance forecast and actual results [6] - Meirui New Materials' subsidiary successfully completed the production process for its polyurethane industrial park phase one project [7] Group 2 - Taigang Stainless Steel reported Q1 2025 net profit of 188 million yuan, a year-on-year increase of 5506.92%, with revenue of 23.31 billion yuan, down 4.71% [9] - Shen Shen Fang A reported Q1 2025 net profit of 72.42 million yuan, a year-on-year increase of 3718.51%, with revenue of 330 million yuan, up 457.38% [10] - Qingda Environmental reported Q1 2025 net profit of 68.71 million yuan, a year-on-year increase of 990.26%, with revenue of 619 million yuan, up 317.43% [11] - Jincai Hulin reported Q1 2025 net profit of 13.65 million yuan, a year-on-year increase of 466.95%, with revenue of 206 million yuan, down 33% [13] - New Sai Co. reported Q1 2025 net profit of 18.19 million yuan, a year-on-year increase of 315.74%, with revenue of 1.215 billion yuan, up 312.03% [14] - Kexing Pharmaceutical reported Q1 2025 net profit of 25.58 million yuan, a year-on-year increase of 106.21%, with revenue of 354 million yuan, down 1.97% [15] - Jiechang Drive reported Q1 2025 net profit of 113 million yuan, a year-on-year increase of 62.21%, with revenue of 961 million yuan, up 35.59% [16] - Taihe Co. reported Q1 2025 net profit of 78.53 million yuan, a year-on-year increase of 50.94%, with revenue of 1.033 billion yuan, up 18.5% [17] - Xiyu Co. reported Q1 2025 net profit of 499 million yuan, a year-on-year increase of 53.08%, with revenue of 9.729 billion yuan, up 15.82% [18] - Hualing Cable reported Q1 2025 net profit of 32.16 million yuan, a year-on-year increase of 55.54%, with revenue of 1.005 billion yuan, up 11.38% [19] - Dong'a Ejiao reported Q1 2025 net profit of 425 million yuan, a year-on-year increase of 20.25%, with revenue of 1.719 billion yuan, up 18.24% [20] - China Rare Earth reported Q1 2025 net profit of 72.62 million yuan, turning from loss to profit, with revenue of 728 million yuan, up 141.32% [21] - Gree Electric reported 2024 net profit of 32.185 billion yuan, a year-on-year increase of 10.91%, with revenue of 189.164 billion yuan, down 7.26% [22] - Luzhou Laojiao reported 2024 net profit of 13.473 billion yuan, a year-on-year increase of 1.71%, with revenue of 31.196 billion yuan, up 3.19% [24] - Yake Technology reported 2024 net profit of 872 million yuan, a year-on-year increase of 50.41%, with revenue of 6.862 billion yuan, up 44.84% [25] - Gujing Gongjiu reported 2024 net profit of 5.517 billion yuan, a year-on-year increase of 20.22%, with revenue of 23.578 billion yuan, up 16.41% [26] - Lanzhou Bank reported 2024 net profit of 1.888 billion yuan, a year-on-year increase of 1.29%, with revenue of 7.854 billion yuan, down 2.02% [27] - China Power Construction reported 2024 net profit of 12.015 billion yuan, a year-on-year decrease of 7.21%, with revenue of 633.685 billion yuan, up 4.07% [28] - China Communications Construction reported Q1 2025 net profit of 5.467 billion yuan, a year-on-year decrease of 10.98%, with revenue of 154.644 billion yuan, down 12.58% [29] Group 3 - Koweil plans to reduce its shareholding by up to 3.21% [31] - Nanya New Materials plans to reduce its repurchased shares by up to 238,480 shares, accounting for 1% of total shares [32] - Xiangsheng Medical's shareholders plan to reduce their holdings by up to 1.72% [33] Group 4 - Zhenhua Heavy Industry plans to repurchase shares worth 50 million to 100 million yuan [35] - Deep Keda plans to acquire 16.92% of the equity of its subsidiary Xianma Technology for 47.376 million yuan [37] - Jinchengxin signed a mining production contract with Western Mining, with an estimated contract value of approximately 377 million yuan [38]

光大证券股份有限公司 一、本次募集资金基本情况 关于南通泰禾化工股份有限公司使用募集资金向全资 子公司提供借款以实施募投项目的核查意见 光大证券股份有限公司（以下简称"光大证券"、"保荐机构"）作为南通泰 禾化工股份有限公司（以下简称"泰禾股份"、"公司"）首次公开发行股票并在 创业板上市持续督导阶段的保荐机构，根据《证券发行上市保荐业务管理办法》 《上市公司监管指引第2号——上市公司募集资金管理和使用的监管要求》《深 圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引 第13号——保荐业务》《深圳证券交易所上市公司自律监管指引第2号——创业 板上市公司规范运作》等有关规定，就公司拟使用募集资金向全资子公司提供 借款以实施募投项目的事项进行了核查，并出具核查意见如下： 经中国证券监督管理委员会《关于同意南通泰禾化工股份有限公司首次公 开发行股票注册的批复》（证监许可[2025]32 号）同意注册，公司首次公开发 行人民币普通股（A股）45,000,000股，每股面值人民币1.00元，每股发行价格 为10.27元，募集资金总额为462,150,000元，扣除不含增值税发行费用人民币 72,37 ...

光大证券股份有限公司 关于南通泰禾化工股份有限公司 光大证券股份有限公司（以下简称"光大证券"或"保荐机构"）作为南 通泰禾化工股份有限公司（以下简称"泰禾股份"或"公司"）首次公开发行 股票并在创业板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《 深圳证券交易所创业板股票上市规则》（以下简称"《创业板股票上市规则》" ）《深圳证券交易所上市公司自律监管指引第2号—创业板上市公司规范运作》 （以下简称"《深交所自律监管指引第2号》"）等相关法律、法规和规范性文 件的规定，对泰禾股份2025年日常关联交易预计进行了审慎核查，核查意见如 下： 一、日常关联交易基本情况 （一）日常关联交易概述 2025年度日常性关联交易预计事项的核查意见 泰禾股份为日常经营的需要，依据《深圳证券交易所创业板股票上市规则》 《深圳证券交易所上市公司自律监管指引第2号—创业板上市公司规范运作》及 《南通泰禾化工股份有限公司章程》（以下简称"《公司章程》"）、《南通泰 禾化工股份有限公司关联交易管理制度》（以下简称"《关联交易管理制度》"） 等相关规定，对公司2024年日常性关联交易确认及2025年日常性关联交易情况 进行合理预 ...

提高自有资金使用效率、合理利用闲置自有资金；在保证公司及控股子公 司日常经营资金需求的前提下，获取一定投资回报。 （二）投资品种 光大证券股份有限公司 关于南通泰禾化工股份有限公司 使用闲置自有资金进行现金管理的核查意见 光大证券股份有限公司（以下简称"光大证券"）作为南通泰禾化工股份 有限公司（以下简称"泰禾股份"、"公司"）首次公开发行股票并在创业板 上市的持续督导保荐机构，依据《证券发行上市保荐业务管理办法》《深圳证 券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第2号 —创业板上市公司规范运作》《深圳证券交易所上市公司自律监管指引第13号 —保荐业务》等有关规定，就泰禾股份使用闲置自有资金进行现金管理的事项 进行了审慎核查，具体情况如下： 一、本次拟使用闲置自有资金进行现金管理的具体情况 为提高公司的资金使用效率，合理利用闲置资金，在不影响公司正常经营 的情况下，公司拟使用闲置自有资金进行现金管理。具体情况如下： （一）投资目的 公司及控股子公司将按照相关规定严格控制风险，对理财产品进行严格评 估，选择安全性高、流动性好、风险可控、且投资期限最长不超过12个月的投 资产品，包括但不限 ...

上述募集资金已于2025年4月7日划至公司指定账户，中汇会计师事务所（特殊 普通合伙）对公司本次发行募集资金到位情况进行了审验，并于2025年4月7日出具 了《验资报告》（中汇会验（2025）3289号）。 公司依照规定对募集资金实行专户存储管理，募集资金到账后已全部存放于募 集资金专项账户内，公司及子公司与保荐机构、存放募集资金的商业银行签署了 《募集资金存储专户三方/四方监管协议》。 二、募投项目拟投入募集资金金额的调整情况 光大证券股份有限公司 关于南通泰禾化工股份有限公司 调整募集资金投资项目拟投入募集资金金额的核查意见 光大证券股份有限公司（以下简称"保荐机构"）作为南通泰禾化工股份有限 公司（以下简称"公司"）首次公开发行股票并在创业板上市的保荐机构，根据 《证券发行上市保荐业务管理办法》《深圳证券交易所创业板股票上市规则》《上 市公司监管指引第2号—上市公司募集资金管理和使用的监管要求》《深圳证券交 易所上市公司自律监管指引第2号—创业板上市公司规范运作》《深圳证券交易所 上市公司自律监管指引第13号——保荐业务》等有关规定，就公司调整募集资金投 资项目（以下简称"募投项目"）拟投入募集资金金额 ...

南通泰禾化工股份有限公司 2024 年度审计报告 中国杭州市钱江新城新业路 8 号 UDC 时代大厦 A 座 5-8 层、12 层、23 层 www.zhcpa.cn Floors5-8,12and23,Block A,UDC Times Building,No.8 Xinye Road，Qianjiang New City,Hangzhou Tel.0571-88879999 Fax.0571-88879000 目 录 | | 页 次 | | --- | --- | | 一、审计报告 | 1-5 | | 二、财务报表 | 1-12 | | (一) 合并资产负债表 | 1-2 | | (二) 合并利润表 | 3 | | (三) 合并现金流量表 | 4 | | (四) 合并所有者权益变动表 | 5-6 | | (五) 母公司资产负债表 | 7-8 | | (六) 母公司利润表 | 9 | | (七) 母公司现金流量表 | 10 | | (八) 母公司所有者权益变动表 | 11-12 | 三、财务报表附注 1-137 中国杭州市钱江新城新业路 8 号 UDC 时代大厦 A 座 5-8 层、12 层、23 层 ww ...