LMGF(SZ:002734) Ge Long Hui·2025-08-27 10:02Core Viewpoint - Limin Co., as a leading enterprise in the domestic fungicide industry, is expected to maintain growth in sales of agricultural fungicides and insecticides in the first half of 2025, driven by increased demand in Brazil due to expanded planting areas and frequent disease outbreaks [1] Group 1: Financial Performance - Agricultural fungicides achieved revenue of 1.24 billion yuan in the first half of the year, representing a year-on-year growth of 12.36%, accounting for 50.57% of total revenue [1] Group 2: Market Dynamics - Increased planting area for agricultural products in Brazil and frequent pathogen disasters are driving high demand for fungicides and insecticides [1] Group 3: Strategic Initiatives - The company has successfully obtained independent registrations for five active ingredients in the Brazilian market, including mancozeb, prothioconazole, azoxystrobin, pyraclostrobin, and nicosulfuron [1] - In the domestic market, the company is enhancing regional layout through five differentiated production bases in Jiangsu, Hebei, and Inner Mongolia, which helps reduce production costs and improve price elasticity [1] Group 4: Research and Development - The company has made substantial progress in the research and development of biopesticides, particularly in the application of microbial synthesis technology [1] - Utilizing the Deyan Zhichuang platform, the company has leveraged AI tools to build a computing power platform, data platform, target database, and target resource platform, significantly improving the efficiency of compound development and shortening the screening cycle for new compounds [1] Group 5: Valuation - The current stock price corresponds to price-to-earnings ratios of 23.0, 20.1, and 16.0 times, with a "buy" investment rating assigned [1]