托球股份拟IPO：上半年增利不增收，实控人廖大章夫妻控股66.83%

Core Viewpoint - Jiangsu TuoQiu Agricultural Chemical Co., Ltd. (hereinafter referred to as "TuoQiu") has initiated IPO counseling with the intention to list on the Beijing Stock Exchange, with Pacific Securities as the counseling institution [2]. Company Overview - TuoQiu was established in April 2003 with a registered capital of approximately 190 million yuan [2][3]. - The company is primarily engaged in the production and sales of pesticide raw materials and formulations, pesticide intermediates, and pharmaceutical intermediates, with leading products including Bromopropylate, Fipronil, Multi-effect Su, and Pyrazole [2]. Shareholding Structure - The actual controller, Liao Dazhang, directly holds 33.72% of TuoQiu's shares and indirectly holds an additional 27.19% through two investment companies, totaling 60.91% [3][4]. - Liao Dazhang's family members also hold shares, with his brother Liao Daqian holding 8.71% and his spouse Zhou Wenlan holding 5.91% [5][6]. Financial Performance - For the first half of 2025, TuoQiu reported operating revenue of approximately 498.13 million yuan, a decrease of 2.81% year-on-year [7]. - The net profit attributable to shareholders increased significantly by 300.73% to approximately 33.69 million yuan [7]. - The gross profit margin improved to 15.44%, up from 9.56% in the previous year [7]. Product Performance - The revenue from insecticides increased by 48.01% year-on-year, driven by higher sales volumes of Fipronil series products, although costs also rose by 45.21% [8].