NOPOSION(SZ:002215) Xin Lang Cai Jing·2025-10-30 10:56Core Viewpoint - Nopson, a leading player in the agricultural chemical industry, has shown strong financial performance with significant revenue and profit growth, particularly in its fresh consumption business, while also expanding its blueberry operations to meet rising global demand [2][5][6]. Group 1: Company Overview - Nopson was established on September 18, 1999, and listed on the Shenzhen Stock Exchange on February 18, 2008, with its headquarters in Shenzhen, Guangdong Province [1]. - The company specializes in agricultural protection products, technology, and services, with a product range that includes pesticide formulations, plant nutrition, and pesticide solubilizers [1]. Group 2: Financial Performance - For Q3 2025, Nopson reported revenue of 4.086 billion yuan, ranking second in the industry, with a net profit of 575 million yuan, leading the industry [2]. - The fresh consumption segment generated 1.808 billion yuan, accounting for 49.14% of total revenue, while pesticide sales contributed 687 million yuan, making up 18.67% [2]. Group 3: Profitability and Debt - As of Q3 2025, Nopson's debt-to-asset ratio was 64.95%, higher than the industry average of 61.02%, indicating a relatively high level of debt [3]. - The gross profit margin for Q3 2025 was 35.76%, surpassing the industry average of 14.56%, reflecting strong profitability [3]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 19.15% to 35,400, while the average number of shares held per shareholder increased by 23.68% to 22,200 [5]. - Notable changes among the top ten shareholders included a reduction in shares held by Hong Kong Central Clearing Limited and the entry of new shareholders such as 华夏行业景气混合 A and 华夏卓越成长混合 A [5]. Group 5: Business Growth and Future Outlook - Nopson's fresh consumption business saw a year-on-year revenue increase of 19% to 1.818 billion yuan in H1 2025, while pesticide formulation revenue grew by 9% to 1.488 billion yuan [6]. - The company is expected to achieve revenues of 5.95 billion, 6.59 billion, and 7.24 billion yuan from 2025 to 2027, with net profits projected at 830 million, 1.11 billion, and 1.37 billion yuan respectively [5].