Core Insights - Corteva, Inc. has been evolving positively over the last two years despite facing macro challenges and foreign exchange issues [7] - The company recently celebrated its sixth anniversary, indicating its relatively new status in the market [8] - Corteva's strategic focus has involved portfolio pruning and exiting economically unviable countries, emphasizing a shift towards being a technology seller in the seed market [8] Company Performance - The CEO expressed satisfaction with the company's strategic direction and execution capabilities [8] - The CFO has been with the company for nine months, indicating a relatively new leadership dynamic [2] - The overall sentiment from the leadership is positive, highlighting a good year for the company [6] Future Outlook - The discussion indicates a long-term focus on improving execution and strategic alignment within the company [7] - The leadership is open to addressing areas needing improvement, suggesting a proactive approach to company growth [7]

Core Viewpoint - The Ministry of Agriculture and Rural Affairs of China has issued a set of measures aimed at strengthening the management of the entire chain of crop varieties, focusing on improving germplasm resources, promoting breeding innovation, and enhancing regulatory standards for variety trials and approvals [1][2]. Group 1: Germplasm Resource Improvement - The measures emphasize accelerating the improvement and utilization of germplasm resources, including the collection and cataloging of resources, with a focus on key crops such as soybeans, corn, rice, wheat, rapeseed, and peanuts [2]. - A high-throughput resource identification platform will be established, and by the end of 2025, precise identification of soybean and corn resources will be completed [2]. Group 2: Breeding Innovation - The measures call for the advancement of breeding innovation, focusing on major agricultural science projects and collaborative breeding efforts to enhance yield and meet industry needs [2]. - There will be a push for the development of breakthrough superior varieties and an optimized evaluation mechanism for research breeding outcomes [2]. Group 3: Regulatory and Management Enhancements - The measures highlight the need for strict qualification reviews for trial varieties and improved management mechanisms for variety trials [2]. - A robust tracking and evaluation system for varieties will be established, along with enhanced protection of intellectual property rights related to varieties [2][3]. Group 4: Implementation and Accountability - Starting in 2025, a special action will be launched to strengthen the management of the entire chain of varieties, with a focus on inter-departmental collaboration and accountability [3]. - The implementation of these measures will be integrated into provincial assessments of land protection and food security responsibilities, aiming for substantial progress in addressing variety homogenization within three years [3].

Core Insights - The company reported an increase in revenue but a decline in profit for the year 2024, indicating potential challenges in profitability despite revenue growth [1][2]. Financial Performance - The company achieved an operating revenue of 100.1 million yuan, a year-on-year increase of 5.14% [1]. - The gross profit margin decreased to 34.11% from 38.26% in the previous year [2]. - The net profit attributable to shareholders was 15.72 million yuan, down 21.21% from the previous year [1]. - The net profit after deducting non-recurring items was 12.46 million yuan, reflecting a significant decline of 37.58% [1]. - The weighted average return on equity decreased to 9.29% from 14.18% [1]. Cash Flow and Assets - The net cash flow from operating activities was 307,700 yuan [2]. - As of the end of the reporting period, total assets amounted to 21.55 million yuan, with net assets of 18.68 million yuan, resulting in a debt-to-asset ratio of 13.31% [2]. Research and Development - The company invested 856,200 yuan in research and development, which accounted for 12.45% of its operating revenue [2]. Employee Statistics - The total number of employees increased to 60, up from 48, marking a 25% increase in workforce [3]. Management and Ownership - The actual controllers and major shareholders are Peng Chao and Peng Bingsheng, who are father and son [4]. - Peng Chao serves as the chairman, while Peng Bingsheng is the current general manager [4]. Company Overview - The company specializes in the research, breeding, promotion, and service of hybrid rice seeds, with its main products including rice seeds and related services [6].

一趟专列，成为连接中国与中亚国家的"文化新纽带"。 助力企业乘风破浪 2024年2月28日，哈萨克斯坦西安码头投入运营，服务范围覆盖中亚、东南亚及跨里海沿线国家。 2025年6月10日，中国·西安哈萨克斯坦码头投入使用，成为中国向西开放通道的境外"第一站"。 6月7日，搭乘首发专列的油画家晏子从阿拉木图返回西安。她说："我把在哈萨克斯坦看到的建 筑、风景、人物捕捉下来，形成一幅幅画作。这些都是陕西与中亚友好交往的见证。" 人文旅游专列正以铁轨为纽带、文化为桥梁，推动交通运输"硬联通"、旅游服务"软联通"、人文交 流"心联通"，勾勒共同繁荣的美好蓝图。 向西开放，乘势而上。陕西进一步全面深化改革，更加深度融入共建"一带一路"大格局，全面落实 中国—中亚西安峰会涉陕成果，通过制度创新、通道建设、平台搭建、企业扶持等举措，加快打造内陆 改革开放高地，推动务实合作"双向奔赴"，为共赢发展注入新动力。 政策利好 从西安到阿拉木图，两个码头见证了"枢纽对枢纽"开放功能的强大。 从西安出发，行驶3668公里，5月31日晚，中国—中亚国际人文旅游首发专列抵达哈萨克斯坦阿拉 木图。身着传统服饰的当地民众载歌载舞，迎接远道而来的 ...

湖南启元律师事务所 关于 袁隆平农业高科技股份有限公司 法律意见书 湖南省长沙市芙蓉区建湘路 393 号世茂环球金融中心63层 410000 电话：（0731）82953-778 传真：（0731）82953-779 网站：www.qiyuan.com 关于本法律意见书，本所及本所律师谨作如下声明： （一）在本法律意见书中，本所及本所律师仅就本次会议的召集和召开程序、 召集人和出席会议人员的资格、表决程序和表决结果进行核查和见证并发表法律意 见，不对本次会议的议案内容及其所涉及的事实和数据的完整性、真实性和准确性 发表意见。 （二）本所及本所律师依据《证券法》、《律师事务所从事证券法律业务管理 办法》和《律师事务所证券法律业务执业规则（试行）》等规定以及本法律意见书 出具日以前已经发生的或者存在的事实，严格履行了法定职责，遵循了勤勉尽责和 诚实信用原则，进行了充分的核查验证，保证本法律意见书所认定的事实真实、准 确、完整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述或者重 大遗漏，并对此承担相应法律责任。 二〇二五年六月 致：袁隆平农业高科技股份有限公司 根据《中华人民共和国公司法》（以下简称"《 ...

Core Insights - The event showcased 366 new vegetable varieties, focusing on specialty fruit and aromatic functional vegetables, and highlighted the "Three Good" (tasty, attractive, easy to grow) chili peppers [1][2] - The event is part of the 32nd China Beijing Seed Industry Conference, aimed at promoting new crop varieties and enhancing the quality of the capital's vegetable industry [1][2] Group 1: Event Overview - The spring vegetable new variety demonstration event took place at the Beijing Crop Variety Testing and Display Base, featuring 11 categories including tomatoes, cucumbers, and peppers [1] - Notable new varieties included Huqing 75 cucumber, Seli 180 eggplant, and Xiaolong 815 chili pepper, with emphasis on high-quality taste varieties like Jingyan Yutian 156 sweet cucumber and Jingfan 309 tomato [1] Group 2: Evaluation and Promotion - An innovative evaluation model for chili pepper varieties was introduced, where experts selected 30 excellent varieties from 110 through field assessments, leading to the selection of the top ten "Three Good" chili varieties [1][2] - The event attracted over 150 participants from agricultural research institutes, agricultural technology promotion units, and seed industry enterprises from Beijing, Tianjin, and Hebei, facilitating the promotion of new varieties in suburban areas [2]

Investment Rating - The investment rating for the company is "Outperform" (Maintain) [3] Core Views - The company, a leader in the domestic corn seed industry, is currently facing short-term performance pressure but is expected to see a turning point as it ramps up research and development and expands its distribution channels [3] - The overall corn seed market is experiencing oversupply and intense competition, leading to declines in both sales volume and price [3] - The company has adjusted its profit forecasts for 2025-2026 and introduced a new forecast for 2027, expecting net profits of 55 million, 67 million, and 77 million yuan respectively for those years [3] Financial Summary - In 2024, the company is projected to achieve revenue of 391 million yuan, a decrease of 26.77% year-on-year, with a net profit of 50 million yuan, down 36.49% [3][6] - The gross margin is expected to be 27.86%, down 4.23 percentage points, and the net margin is projected at 12.89%, down 1.98 percentage points [3] - For Q1 2025, revenue is expected to be 19.19 million yuan, a decline of 45.25%, with a net loss of 4.48 million yuan [3] Research and Development - The company increased its R&D expenditure to 2160.87 million yuan in 2024, a year-on-year growth of 17.98% [5] - Several of the company's corn varieties have been recognized for their disease resistance and high yield, with specific varieties selected as leading agricultural varieties in various provinces [5] Market Position and Strategy - The company is actively exploring online sales channels, including establishing its own e-commerce platform and collaborating with influencers and e-commerce teams [5] - The company aims to enhance its market position in the wheat and peanut seed markets, anticipating accelerated expansion in these areas [3]

Group 1 - The article emphasizes the importance of collecting and introducing germplasm resources to enhance breeding and research capabilities [1] - It highlights the need for a regular collection of germplasm resources and accelerating the third census for cataloging and storage [1] - The introduction of high-yield, high-oil soybeans, disease-resistant corn, quality specialty wheat, sugar crops, and tropical crops is prioritized to enrich the breeding research foundation [1]

齐鲁晚报·齐鲁壹点 胡晓娟 通讯员 周晓光 种子被喻为农业的"芯片"，是保障粮食安全和农产品供给的根本，也是农业现代化发展的根基。而作为 高风险行业的蔬菜种业，其面临的自然风险威胁尤其突出。因此建立健全风险分散机制，不仅是种业企 业需要，更是保障国家粮食安全和社会稳定的迫切需求。在"中国菜篮子"潍坊，一套量身定制的种业保 险体系已破土而出，中国人民财产保险股份有限公司（以下简称"人保财险"）山东省分公司通过精准覆 盖蔬菜制种全链条风险、创新"菜单式"承保服务，同时借助科技赋能与财政补贴，为农业"芯片"上了一 把牢牢的"安全锁"。 种子从实验室到田间，每个环节都暗藏风险。人保财险山东省分公司创新构建"全链条防护网"，紧抓蔬 菜制种生产链条上的重点，精准找到痛点，将关键风险点都纳入保险保障范围。该公司创新研发了三大 核心险种，包括蔬菜制种保险、种子责任保险、种子公路运输保险。分别承担制种企业自然灾害、意外 事故、爆发性病虫害直接造成的减产损失，种子缺陷造成的种植风险和消费者利益损害依法由制种企业 承担的赔偿责任，种子运输期间因自然灾害、意外事故及盗抢造成的经济损失，有效覆盖了制种企业全 产业链条面临的各类风险。 ...

1999年出生的王庆凯是一名博士生，记者见到他时，他正和同学一起拉线，以保证秧苗的行距。"我是 泰州兴化人，家里人非常支持我成为一名'新农人'。"王庆凯说，从2022年开始，他就跟着老师下地种 植，手插秧更是这几年的必修课。"看着我们的'实验秧'成为种植户喜欢的品种，是我最开心的事情。" 南京农业大学水稻遗传育种与种质创新团队教授王益华告诉记者，种子是农业的芯片，也是保障国家粮 食安全的重要基础。以"宁香粳9号"为代表的一系列品种，去年的推广面积超过了250万亩，尽管去年夏 天高温，但"宁香粳9号"综合效益高于市场一般品种。某种植户提供的数据显示，该种植户亩产增效超 过400元。"因为去年'宁香粳9号'表现优异，今年很受种植户喜欢，可以说是一粒种子难求。" 据悉，1个优良品种的培育，至少要花上10年。这款很受欢迎的"宁香粳9号"，就是这样从试验田的万份 株系中选育出来的高产、优质、高效新品种。该品种摘得全国优质稻品种食味品质鉴评（粳稻）金奖， 被农业农村部认定为"超级稻"品种，目前是江苏、安徽、贵州等省份的主导品种。 田埂上，团队老师带着学生忙碌着，男生负责对体力要求较高的装秧、运秧、排秧、拉绳工作，女生则 ...