【私募调研记录】合众易晟调研云图控股、利尔化学

Group 1: YunTu Holdings - YunTu Holdings introduced its integrated development strategy for nitrogen and phosphate fertilizer supply chains, aiming for stable growth in compound fertilizer sales during the peak spring farming season in Q1 2025 [1] - The company has nearly 6,000 primary distributors and is enhancing channel construction and marketing integration [1] - The production of various phosphate compound fertilizer products through graded utilization of phosphoric acid is expected to become a new profit point, with a 700,000-ton synthetic ammonia project enhancing the nitrogen fertilizer supply chain and adding 1 million tons of compound fertilizer capacity [1] Group 2: Lier Chemical - Lier Chemical anticipates a recovery in performance in Q1 2025, with some product sales and prices increasing year-on-year, and cost reduction and efficiency improvement measures showing results [2] - The pesticide industry supply-demand situation is improving, although competition remains fierce; the market demand for glyphosate is growing, but prices are low [2] - The company is optimistic about the market prospects for refined glyphosate, expecting sustained demand growth, and is currently conducting due diligence on the acquisition of Shandong Huimeng [2]