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富邦股份分析师会议-20250826
Dong Jian Yan Bao·2025-08-26 15:17

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - The company adheres to the development mission of empowering global agriculture with biological and digital technologies, focusing on the "biotechnology + digital technology" dual - wheel drive for global agricultural modernization transformation, aiming to become a leading global agricultural technology service enterprise [25][26][28]. - In 2025 H1, the company achieved stable business development, with overall revenue of 684.5976 million yuan, a year - on - year increase of 6.50%. The modern agriculture business achieved revenue of 122.3698 million yuan, a year - on - year increase of 13.31% [28][31][34]. - The company will continue to deepen its global strategic layout, optimize resource allocation, upgrade product structure, and improve operational efficiency to enhance profitability and sustainable development capabilities [31][36]. 3. Summary by Directory 3.1. Research Basic Situation - Research object: Fubang Co., Ltd. - Industry: Fertilizer industry - Reception time: August 26, 2025 - Reception personnel: Company's chairman and general manager Wang Renzong, independent director Guo Fei, deputy general manager and financial controller Wan Gang, deputy general manager and board secretary Yi Min [16] 3.2. Detailed Research Institutions - The reception objects are investors who participated in the company's 2025 semi - annual online performance briefing through the Panorama Network live interactive platform [19]. 3.3. Research Institution Proportion No information provided. 3.4. Main Content Data - Agro - chemical Auxiliary Business: In 2025 H1, the auxiliary business won the title of "No. 1 in global fertilizer auxiliary sales" by Sullivan, achieving revenue of 496.4149 million yuan, a year - on - year increase of 5.62%. The company promotes transformation and upgrading, focusing on R & D of customized products in the domestic market and expanding overseas markets through localization operations [23]. - Core Technologies and Products: The company focuses on technological innovation, researching and applying new materials, and launching products and service models in biological and digital agriculture, aiming to build a modern agricultural ecosystem [24]. - Land Transfer: The company built a digital agriculture industrial park in Sanhe Town, Yingcheng City, introducing intelligent technologies in facility agriculture [25]. - Modern Agriculture Business Strategy: The biological agriculture segment focuses on four product areas and builds a full - chain R & D system. The digital agriculture segment provides full - process products and services, aiming to build a modern agricultural ecosystem [26]. - Digital Economy Layout: The company responds to national strategies, introduces advanced technologies, and sets up the "Tomato Commune" as a demonstration park [26][27]. - Performance of Modern Agriculture Business: In 2025 H1, it achieved revenue of 122.3698 million yuan, a year - on - year increase of 13.31%. It made progress in R & D, market expansion, and established a new marketing model [28]. - Digital Agriculture Layout: The company focuses on "biotechnology + digital technology", and has advantages in digital soil testing, intelligent water and fertilizer management, and orchard yield estimation [29]. - Sub - company Wuhan Sotu Data Technology Co., Ltd.: It developed a "soil digital map" and related digital solutions, currently in the demonstration application stage [30]. - Overseas Cooperative Organization: The company established Forbon Technology Netherlands Holdings Co. Cooperatief U.A. in the Netherlands in 2015 to promote international cooperation and business development [30]. - 2025 H1 Operating Performance: The company achieved revenue of 684.5976 million yuan, a year - on - year increase of 6.50%. Domestic revenue was 365.0579 million yuan, a year - on - year increase of 5.10%, accounting for 53.32% of total revenue; overseas revenue was 319.5397 million yuan, a year - on - year increase of 8.16%, accounting for 46.68% of total revenue [31]. - Exchange Rate Risk Management: The company uses natural hedging and diversified settlement strategies to reduce the impact of exchange rate fluctuations [32]. - Auxiliary Business R & D: The company focuses on R & D of high - efficiency and environmentally friendly auxiliary products and promotes frontier project research [33]. - Investment in Wuhan Shuanglvyuan Chuangxin Technology Co., Ltd.: It developed a leading genomic intelligent breeding system based on biological breeding gene chips [33]. - Market Promotion of Biological Agriculture Products: The company's products in biological agriculture are in the demonstration and verification stage, and the "Tianshengdan" project is being promoted [34]. - Reasons for Net Profit Decline in 2025 H1: The company increased strategic investment, promoted large - scale demonstration projects, and faced impacts from overseas market expansion [34][35][36]. - Measures to Address Financial Risks: The company will improve the capital management system, evaluate goodwill regularly, and actively communicate with the market [36].