国光股份实现净利润2.31亿元，拟委托实控人之子“出海”

Core Viewpoint - Sichuan Guoguang Agricultural Chemical Co., Ltd. (Guoguang Co.) focuses on the research, production, and sales of plant growth regulators and high-end water-soluble fertilizers, establishing itself as a strong brand in the domestic market for plant growth regulators [2][3]. Financial Performance - In the first half of 2025, Guoguang Co. achieved operating revenue of 1,118,836,327.91 yuan, a year-on-year increase of 7.33% [3][5]. - The net profit attributable to shareholders was 230,530,454.99 yuan, reflecting a growth of 6.05% compared to the same period in 2024 [3][5]. - The gross profit margin and net profit margin both increased compared to the same period in 2024, driven by higher sales volumes of high-margin products and lower raw material prices [3][5]. Product Development and Innovation - As of June 30, 2025, the company held 330 pesticide product registration certificates, including 150 for plant growth regulators, making it the largest seller of plant growth regulator formulations in China [5][6]. - In the first half of 2025, Guoguang Co. obtained 9 pesticide registration certificates and 11 fertilizer registration certificates, enhancing its product line [6]. Strategic Partnerships - The company has engaged in multiple national key research and development programs, collaborating with institutions like Jiangsu Academy of Agricultural Sciences and Nanjing Agricultural University to promote innovation and accelerate the transformation of research results [6]. Marketing and Sales Strategy - Guoguang Co. employs a flat marketing network primarily based on county-level distributors, which facilitates coverage of untapped markets and crops [6]. - The company is expanding its sales network through its five brands, enhancing logistics and service efficiency [6]. International Expansion - On August 7, 2025, Guoguang Co. announced a partnership with its controlling shareholder's son, Yan Yaqi, to develop overseas pesticide projects in Asia, Africa, and Latin America [7][8]. - The company aims to mitigate risks associated with overseas market entry by delegating project cultivation to Yan Yaqi, who will bear the associated costs and risks [8]. Historical Performance - In 2024, Guoguang Co. reported total revenue of 1.986 billion yuan, with foreign sales contributing 12.55 million yuan, indicating ongoing efforts to expand its international market presence [9].