Core Viewpoint - The implementation of the "One Product, One Certificate" policy starting January 1, 2026, is expected to significantly impact the pesticide industry, leading to the exit of 80% of borrowing certificate-produced pesticides from the market, which will force many large distributors to shift towards purchasing pesticide formulations from leading companies [1] Group 1 - The Ministry of Agriculture and Rural Affairs issued Announcement No. 925 on June 29, 2025, to regulate pesticide labeling and instruction management, which will take effect on January 1, 2026 [1] - The announcement aims to further standardize pesticide labeling, promoting fair competition within the pesticide market [1] - As a leading global plant protection enterprise, the company possesses a substantial reserve of registration certificates and is committed to responding positively to government requirements for the sustainable development of the pesticide industry [1]