1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - The US corn report has lowered the yield per unit, but the production remains at a high level, causing the US corn price to decline. It may continue to be adjusted downward, and the US corn will fluctuate within a narrow range. China has imposed a 15% tariff on US corn, with a total of 26% tariff within the quota, and a 22% tariff on US sorghum. Although the import profit of foreign corn is relatively high, the domestic corn spot price is expected to decline with the upcoming large - scale listing of new - season corn [5][6]. - The inventory of corn starch has decreased this week. The current starch price depends on the corn price and downstream stocking. Due to weak demand, starch enterprises will be in a long - term loss state. The 01 starch contract is expected to fluctuate at the bottom in the short term [7]. 3. Summary by Directory 3.1 Data 3.1.1 Futures Market - Corn futures: The C2601 contract closed at 2164, up 9 (0.42%), with a trading volume of 151,038 (up 22.66%) and an open interest of 445,010 (up 0.15%); the C2605 contract closed at 2231, up 7 (0.31%), with a trading volume of 11,113 (down 20.49%) and an open interest of 86,022 (down 0.13%); the C2509 contract closed at 2255, up 1 (0.04%), with a trading volume of 232 (down 23.43%) and an open interest of 752 (up 9.94%) [3]. - Corn starch futures: The CS2601 contract closed at 2487, up 12 (0.48%), with a trading volume of 35,769 (up 39.81%) and an open interest of 67,858 (down 0.83%); the CS2605 contract closed at 2574, up 7 (0.27%), with a trading volume of 348 (down 31.32%) and an open interest of 1,383 (down 2.47%); the CS2509 contract closed at 2596, up 11 (0.42%), with a trading volume of 9 (up 800.00%) and an open interest of 8 (up 100.00%) [3]. 3.1.2 Spot and Basis - Corn spot: Today's quotes in different regions are as follows: Qinggang 2250 (up 10), Jiajishenghua 2180 (unchanged), Zhuchengxingmao 2378 (unchanged), Shouguang 2284 (unchanged), Jinzhou Port 2300 (unchanged), Nantong Port 2410 (down 10), and Guangdong Port 2440 (unchanged). The basis varies from - 75 to 185 [3]. - Corn starch spot: Quotes from different manufacturers are as follows: Longfeng 2700, Zhongliang 2700, Jiajia 2800, Yufeng 2990, Jinyumi 2850, Zhuchengxingmao 2940, and Hengren Industry and Trade 2780, all unchanged. The basis ranges from 126 to 416 [3]. 3.1.3 Spreads - Corn inter - delivery spreads: C01 - C05 is - 67 (up 2), C05 - C09 is - 24 (up 6), C09 - C01 is 91 (down 8). - Corn starch inter - delivery spreads: CS01 - CS05 is - 87 (up 5), CS05 - CS09 is - 22 (down 4), CS09 - CS01 is 109 (down 1). - Cross - variety spreads: CS09 - C09 is 341 (up 10), CS01 - C01 is 323 (up 3), CS05 - C05 is 343 (unchanged) [3]. 3.2 Market Judgment - Corn: The US corn market is affected by yield and tariff policies. In China, the northern port closing prices are stable, and the northeast and north China corn spots are relatively stable in the short term. However, due to imports, auctions, and the upcoming large - scale listing of new - season corn, the corn spot price is expected to decline. By the end of September, the north China corn price may reach 2200 yuan/ton, and the Heilongjiang price may be below 2100 yuan/ton [5][6]. - Starch: The number of vehicles arriving at Shandong deep - processing plants has increased, and the corn spot price in Shandong is stable. The starch price in Shandong is around 2750 yuan, and the northeast starch spot is weak. This week, the corn starch inventory decreased to 120 million tons, a decrease of 2.6 million tons from last week, with a monthly decrease of 8.95% and a year - on - year increase of 37.5%. The starch price depends on corn price and downstream stocking. In the long - term, due to weak demand, enterprises will be in a loss state. The 01 starch contract is expected to fluctuate at the bottom in the short term [7]. 3.3 Corn Options - Option strategy: Use a short - term strategy of accumulating puts and calls, with rolling operations [13]. 3.4 Relevant Attachments - The attachments include charts of various prices, basis, and spreads of corn and corn starch, such as the spot price of corn in different regions, the basis and spreads of corn and corn starch futures contracts [15][17][23].

Group 1 - Shudao Equipment's subsidiary signed a construction contract worth 24.68 million yuan for a hydrogen fuel cell manufacturing base project [1] - Zhongliang Technology received a land acquisition compensation of 30 million yuan from the government [2] - Palm Holdings won a bid for a high-standard farmland construction project in Lankao County, with a contract value of 433 million yuan, accounting for 14.12% of the company's audited revenue for 2024 [3] Group 2 - Changchun Yidong's subsidiary received a government subsidy of 2.85 million yuan, which is 122.78% of the company's audited net profit for the last fiscal year [4] - Wuzhou Transportation successfully issued 200 million yuan in medium-term notes with an interest rate of 2.10% [5][6] - Tiandi Source's subsidiary plans to apply for a trust loan of up to 500 million yuan from related parties [8] Group 3 - Tiandi Source's subsidiary acquired a residential land use right in Xi'an for 2.015 billion yuan [9] - Opcon Vision received a medical device registration certificate for its ultrasonic nebulizer [11] - Jingjiawei announced the resignation of its vice president due to personal reasons [13] Group 4 - Fulinh Precision's subsidiary received a prepayment of 1.5 billion yuan from CATL for securing lithium iron phosphate material supply [15] - Yunzhu Technology's subsidiary received a government subsidy of 20.12 million yuan [16] - Kehua Bio's ferritin test kit received a medical device registration certificate [17] Group 5 - Jinghua Pharmaceutical's medical sodium alginate wound dressing received a medical device registration certificate [18] - Lingwei Technology established a wholly-owned subsidiary with a registered capital of 1 million yuan [19] - Sanwei Co. won a bid for concrete sleeper procurement projects worth 158 million yuan [20] Group 6 - Shanghai Pharmaceuticals' Nicardipine tablets passed the consistency evaluation for generic drugs [21] - Lushan New Materials increased its idle fund management limit to 750 million yuan [24] - Huayi Technology announced the retirement of a core technical staff member [25] Group 7 - Yingli Environment plans to use up to 300 million yuan of idle raised funds for cash management [30] - Yong'an Forestry plans to develop a national reserve forest project in Putian, Fujian, with an estimated investment of 154 million yuan [32] - Xinyuan Technology's shareholders plan to reduce their holdings by up to 3.18% of the company's shares [60]

Group 1 - The 2025 National Special Agricultural Products Promotion Event was successfully held in Xiamen, showcasing Fuzhou's unique agricultural products with significant results [1] - Fuzhou's jasmine tea gained attention due to its dual recognition as a "Global Important Agricultural Cultural Heritage" and "Human Intangible Cultural Heritage" [3] - A total of 18 products from Fuzhou won the "Most Popular Product Award," highlighting the diversity and high quality of Fuzhou's agricultural offerings [5] Group 2 - The Fuzhou specialty food section attracted numerous buyers, with products like jellyfish skin and instant Buddha Jumps Over the Wall receiving widespread acclaim [6] - Fuzhou enterprises actively participated in various sales matching activities, achieving impressive on-site retail sales and establishing multiple cooperation intentions [6] - The participation in this event is a significant initiative for Fuzhou to promote high-quality agricultural development and enhance the brand influence of "Fuzhou Agricultural Products" [8]

Core Viewpoint - The potato processing industry in Dingxi, Gansu Province, is experiencing significant growth, driven by modern automated production lines and stable electricity supply, transforming local potatoes into various high-value products distributed nationwide [1][3][5]. Group 1: Industry Overview - Dingxi City has a stable potato planting area of 3 million mu, with a complete industrial chain including seed selection, standardized planting, and deep processing of starch and staple food products [4]. - The city has 128 main processing entities for wide noodles, with a production capacity of 230,000 tons and an annual output value of 6.5 billion yuan [4]. - The online daily sales of ready-to-eat potato fresh powder from Hengyuan Halal Starch Products Co., Ltd. can reach 3,000 orders [4]. Group 2: Electricity Supply and Support - The State Grid Gansu Electric Power Company has proactively optimized electricity supply for potato processing enterprises, ensuring stable power during the processing season [3][5]. - The company has conducted detailed assessments of electricity capacity and has implemented upgrades to supply equipment, ensuring safety and reliability [3]. - The focus on electricity supply has enabled the modernization of the potato processing industry, moving from traditional methods to fully automated production [5].

Core Insights - The company, Good Doctor Group, is leveraging the pomegranate industry to integrate industry, technology, and internationalization, contributing to the revitalization of the agricultural sector in Sichuan's "Hometown of Pomegranates" [1] Group 1: Production and Quality Management - During the 2025 pomegranate harvest season, the company reported that this year's pomegranate yield significantly exceeds last year's, with high quality making them highly sought after in the market [3] - Good Doctor Group's subsidiary, Huili Guoguo Fruit Industry, initiated pomegranate procurement on August 19, using a model of "self-established procurement points + suppliers" to cover the entire planting area [3] - To ensure superior quality, the company established a professional team to set strict quality standards, including a minimum sugar content of 14 degrees and no cracked or damaged fruits [6] - Last year, Huili Guoguo Fruit Industry procured nearly 20,000 tons of pomegranates, with expectations to exceed 30,000 tons this year, indicating substantial growth [6] Group 2: Technological Advancements - The production facility operates modern production lines supported by advanced technologies, including ultrafiltration systems and high-temperature instantaneous sterilization systems, allowing for rapid processing of freshly harvested pomegranates [8] - The introduction of new equipment has significantly increased daily processing capacity while ensuring product quality and addressing sales concerns for local farmers [8] - The company has developed a comprehensive product matrix, transforming pomegranates from raw agricultural products into health consumer goods, with products like pomegranate juice, wine, and cosmetics gaining popularity in both domestic and international markets [8] Group 3: Market Expansion and Community Impact - The rigorous quality management system has enabled the company to gain international certifications, opening doors to high-end markets in Europe and Southeast Asia [9] - As a leading enterprise in the Huili pomegranate industry, Good Doctor Group is focused on "industry benefiting the people," enhancing farmers' income and promoting diversified rural economic development [9] - The company has created numerous seasonal and long-term job opportunities, fostering growth in related industries such as logistics and packaging [9] - Over the past decade, Huili Guoguo Fruit Industry has built an ecological loop of "small pomegranates, large industry," aiming to fulfill the aspirations of local farmers for a better life [9]

Core Viewpoint - COFCO Technology announced that it has received a monetary compensation of RMB 30 million from the government of Bengbu City, which will be accounted for according to the Enterprise Accounting Standards, with the specific impact to be determined based on the annual audit results [1] Financial Impact - The monetary compensation received by the company amounts to RMB 30 million [1] - The accounting treatment will follow the Enterprise Accounting Standards, indicating a structured approach to financial reporting [1]

Market Overview - On September 18, the agricultural processing sector declined by 1.81%, with Huazi Industrial leading the drop [1] - The Shanghai Composite Index closed at 3831.66, down 1.15%, while the Shenzhen Component Index closed at 13075.66, down 1.06% [1] Stock Performance - Notable stock performances in the agricultural processing sector included: - Oufujieye (839371) closed at 11.72, up 0.86% with a trading volume of 40,500 shares [1] - Tianye Co. (832023) closed at 4.76, up 0.21% with a trading volume of 208,300 shares [1] - Sobo Protein (603231) closed at 18.57, down 0.38% with a trading volume of 57,400 shares [1] - Zhongliang Sugar Industry (600737) closed at 16.69, down 0.95% with a trading volume of 529,300 shares [1] - Jinjian Rice Industry (600127) closed at 6.86, down 1.29% with a trading volume of 166,100 shares [1] Capital Flow - The agricultural processing sector experienced a net outflow of 226 million yuan from institutional investors, while retail investors saw a net inflow of 95.64 million yuan [2] - The overall capital flow indicates a mixed sentiment among different investor types, with institutional investors pulling back while retail investors showed interest [2] Individual Stock Capital Flow - Key individual stock capital flows included: - Sobo Protein (603231) saw a net inflow of 11.46 million yuan from institutional investors but a net outflow of 16.21 million yuan from retail investors [3] - Zhongliang Technology (000930) had a net inflow of 5.95 million yuan from institutional investors and a net outflow of 24.27 million yuan from retail investors [3] - Jiayuan Holdings (000505) experienced a slight net outflow from institutional investors but a small net inflow from retail investors [3]

Core Insights - The article highlights the efforts in Zhejiang's Shangyu District to promote rural revitalization and common prosperity through community engagement and innovative agricultural practices [1][3]. Group 1: Agricultural Development - The Shangyu District focuses on developing modern agriculture, integrating cultural tourism, and fostering a creative economy to create a sustainable industrial chain [3]. - The "Yuyuan" brand initiative has led to the "Youth Partner Program," encouraging young entrepreneurs to innovate and contribute to local agriculture [3]. - The introduction of smart planting bases and eco-friendly practices has enhanced agricultural productivity and sustainability in the region [4]. Group 2: Community Engagement - The return of local talents and the involvement of various social groups have been pivotal in driving community-led initiatives and cultural promotion [3][6]. - The "Green Water + Green Agriculture" model has been implemented to connect ecological restoration with agricultural development, resulting in a significant increase in sales of local products [4][6]. - The establishment of the "Phoenix Navigation · Common Prosperity" fund has facilitated resource mobilization for local industries, creating job opportunities and supporting entrepreneurship [6]. Group 3: Economic Impact - The sales of local agricultural products, such as bamboo shoots and honey, have seen a year-on-year growth of over 20% due to enhanced marketing efforts [4]. - The collaboration between local enterprises and community resources has led to the successful establishment of e-commerce platforms and live-streaming sales initiatives [5][6]. - The integration of cultural heritage into local economic activities has enriched the region's identity and attracted more entrepreneurs [6].

Core Viewpoint - The Federal Reserve's recent actions have strengthened the US dollar, leading to a decline in the international soybean oil market, which has put pressure on the domestic soybean oil prices in China [1] Group 1: Market Conditions - As of September 18, the price of first-grade soybean oil in the Rizhao market is 8,470 yuan per ton, a decrease of 85 yuan per ton, representing a decline of 0.99% from the previous day [1] - The arrival of Brazilian soybeans is sufficient, and domestic crushing enterprises are operating at high levels [1] Group 2: Seasonal Factors - With the National Day holiday approaching, some enterprises may temporarily halt operations, while downstream demand is expected to increase before the holiday [1] - Upstream enterprises are facing limited inventory pressure, which may support the basis for soybean oil spot prices [1] Group 3: Market Outlook - The short-term outlook for soybean oil prices is expected to be weak and range-bound, with limited further downside potential [1] - Future market movements will depend on subsequent news developments [1]

Core Points - Ningxia has successfully exported fresh vegetables, specifically 56 tons of fresh onions, to Thailand and Malaysia for the first time [1][3] - The exporting company has been processing dehydrated vegetables in the Ningxia Comprehensive Bonded Zone, with an annual export trade volume of approximately 40 million yuan [3] - The company plans to export 6 containers weekly, each weighing 28 tons, aiming for a total export trade volume of 35 million yuan by the end of the year [3] Customs and Trade Facilitation - The customs authority has implemented a "green channel" model for fresh vegetable exports, reducing the total time from application to inspection to half a day [3] - Various support measures have been introduced to help companies in the Ningxia Comprehensive Bonded Zone, including reducing customs clearance time and lowering operational costs [3] - The customs has established mechanisms such as "appointment customs clearance," "green customs clearance," and "enterprise liaison officers" to enhance the efficiency of customs supervision and provide better services for export enterprises [3]