Good afternoon to everyone. Um, I thought I'd start today with uh a bit of a story and it's one that took place in 2018 when I was in New Delhi and uh I went for a coffee brewing workshop, a coffee brewing 101 and that was really early on in my career and uh the host that day went around the room and asked everyone what they thought of when they heard the word coffee. Um, one answer was a cappuccino.Another answer was the aromomas that you get when you walk past a cafe. Uh, another answer was something that ...

Financial Data and Key Metrics Changes - For the nine months ending September 30, 2025, revenues were approximately $3.5 million, a decrease from $4 million in the same period last year, primarily due to lower revenue from AgPlenus activity [9][31] - Total operating loss for the nine months of 2025 was approximately $8.8 million, significantly reduced from approximately $15.3 million in the same period of 2024, mainly due to decreased operating expenses [10][35] - The net loss for the nine months of 2025 was approximately $2.5 million, compared to approximately $18 million in the same period last year, reflecting a $15.5 million decrease primarily due to reduced operating expenses and income from discontinued operations [37][38] Business Line Data and Key Metrics Changes - Lavie Bio's financial results are presented as a single line item in Evogene's consolidated P&L statement, reflecting the sale of the majority of its activities to ICL, which generated income of approximately $7.9 million in Q3 2025 [9][29] - Research and development expenses for the nine months of 2025 were approximately $6.2 million, down from $9.8 million in the same period of 2024, attributed to reduced R&D expenses in Biomica and the cessation of Canonic's operations [31][32] - Sales and marketing expenses for the nine months of 2025 totaled approximately $1.2 million, a decrease from approximately $1.6 million in the same period last year, mainly due to personnel cost reductions [10][32] Market Data and Key Metrics Changes - The global agricultural market was valued at $79 billion in 2024, with significant opportunities for new product development in herbicides, insecticides, and fungicides [21] - The pharmaceutical market for small molecule-based drugs is valued at approximately $780 billion, representing nearly 60% of the global pharmaceutical market [24] Company Strategy and Development Direction - The company is transitioning to focus on computational chemistry, particularly in the generative design of small molecules for the pharmaceutical and agriculture industries [7][27] - The strategy includes leveraging the proprietary generative AI tech engine, Campus AI, to design novel small molecules that meet multiple parameters for commercial success [18][27] - The company aims to strengthen collaborations with leading global companies in both the agriculture and pharmaceutical sectors to drive innovation and product development [20][25] Management's Comments on Operating Environment and Future Outlook - Management highlighted the increased interest in AI-driven drug discovery following recent partnerships in the industry, indicating a positive outlook for Evogene's technology [41][42] - The company expects to announce additional collaborations with biotech companies and academic institutions in the near future, aiming to enhance its market position [46][50] - Management expressed confidence in the potential for success in the pharmaceutical sector, emphasizing the unique capabilities of their team and technology [56][57] Other Important Information - The company completed a cost reduction plan by the end of Q2 2025, which is reflected in the reduced operating expenses in Q3 2025 [8][29] - The cash balance as of September 30, 2025, was approximately $16 million, reflecting proceeds from the sale of Lavie Bio's assets [10][30] Q&A Session Summary Question: Has the levels of interest in AI champs increased post the recent NVIDIA Eli Lilly AI drug discovery partnerships? - Management noted that the announcement increased interest in AI-related companies in the pharma industry, and Evogene has seen growing interest in its technology [41][42] Question: How close are you to unlocking partners with AI champs? - Management indicated an increase in potential candidates for collaboration and expects to announce new partnerships with biotech companies early next year [45][46] Question: What is the IR strategy going forward? - Management confirmed plans to initiate roadshows and participate in conferences to enhance awareness of the company's new strategy and technology [47][49] Question: Could you highlight upcoming catalysts over the coming 6-12 months? - Management outlined expectations for new collaborations in both the pharma and ag divisions, as well as potential announcements regarding partnerships with major tech companies [50][51] Question: What type of revenue level can we expect for customer seeds in Q4 and for 2026? - Management refrained from disclosing specific revenue levels but mentioned ongoing discussions with strategic companies that could significantly impact future revenue [52][53] Question: How excited are you about AI champs compared to all your other times at Evogene? - Management expressed optimism about the focus on the pharma industry and the potential for significant financial rewards from successful collaborations [54][56]

Group 1 - Aktsiaselts Infortar's subsidiary OÜ Infortar Agro has acquired a 100% stake in Oisu Biogaas OÜ through a series of transactions, initially acquiring a 60% holding and subsequently a 40% shareholding [1][2] - The Estonian Competition Authority granted merger clearance for the acquisition on 19 November 2025, allowing the transaction to proceed [1] - The transaction is classified as not significant under NASDAQ Tallinn Stock Exchange rules and does not materially impact Aktsiaselts Infortar's operations [3] Group 2 - Infortar operates across seven countries, focusing on maritime transport, energy, and real estate, with a diverse portfolio including a 68.47% share in Tallink Grupp and a 100% share in Elenger Grupp [4] - The company has a real estate portfolio of approximately 141,000 square meters and encompasses 110 companies, including 101 subsidiaries and 4 affiliated companies [4] - Excluding affiliates, Infortar employs a total of 6,558 people [4]

Core Viewpoint - Maui Land & Pineapple Company, Inc. (MLP) has experienced a significant decline in share price, dropping 36.6% since the third-quarter 2025 results were reported, which is notably worse than the S&P 500 Index's 2.3% decrease, indicating investor concerns despite operational improvements [1] Financial Performance - In Q3 2025, MLP reported total operating revenue of $4.5 million, an increase from $3 million year-over-year, primarily driven by higher leasing revenue and land development activity [2] - The company achieved a net income of $0.2 million, a significant recovery from a net loss of $2.2 million in the same quarter last year, with earnings per share rising to 1 cent from a loss of 11 cents [2] - Leasing revenue increased to $3.5 million from $2.7 million, while land development and sales contributed $0.8 million compared to no revenue in the prior-year quarter [2] - Operating costs decreased to $4.9 million from $5.3 million, attributed to lower share-based compensation despite higher leasing-related costs [2] Key Business Metrics - For the nine months ended September 30, 2025, operating revenue rose 83.1% to $14.9 million from $8.2 million, driven by leasing, land development sales, and reimbursements from the State of Hawai'i's Relief Housing Project [3] - Leasing revenue grew to $9.9 million from $7.1 million, supported by tenant additions and higher occupancy [3] - Land development and sales revenue surged to $4.2 million from $0.2 million, reflecting parcel sales and progress on the Honokeana Homes project [3] Operating Loss and Adjusted EBITDA - Operating loss narrowed significantly to $2.8 million from $5.5 million in the prior-year period, while adjusted EBITDA turned positive at $1.6 million compared to a slight loss a year earlier [4] - However, the company recorded a GAAP net loss of $9.4 million, widening from a $5.5 million loss last year, primarily due to $6.9 million in pension-related expenses [4] Cash Position - Total cash and investments convertible to cash declined to $5 million from $9.5 million at year-end 2024, reflecting pension contributions, development costs, and capital expenditures [5] Management Commentary - Management highlighted strong leasing momentum with a 39% year-over-year increase in recurring leasing revenue and improved occupancy across commercial properties [6] - The company is focusing on stabilizing recurring income while unlocking value from non-strategic parcels and has terminated its qualified pension plan, fulfilling a significant legacy obligation [7] Influencing Factors - Results for the nine months ended September 30, 2025, were significantly impacted by the State of Hawai'i's Relief Housing Project, contributing $3.4 million in reimbursed development costs [8] - Increased tenant activity, higher water system revenues, and improved occupancy across various properties positively influenced leasing [8] Cost Dynamics - Leasing-related expenses rose due to increased occupancy, property management fees, and tenant improvement work [10] Future Outlook - Management expects continued growth in leasing income as occupancy stabilizes and origination costs decline, with plans to monetize remnant parcels over the next one to three years [12] Other Developments - MLP advanced its agave farming venture and initiated planting across 25 acres, while also continuing the Honokeana Homes project on a cost-recovery basis [13] - The company disclosed several legal matters, including lawsuits related to irrigation water access, though financial impacts remain undetermined [13] Overall Assessment - While MLP demonstrated operational improvements in leasing and land development, cash outflows and pension-related charges negatively impacted reported earnings, leading to a muted market reaction [14]

Each fall across America's heartland, countless fields are toiled by farmers and their tractors. Mike and Betsy Roland own West Bureau Farms in central Illinois, one of at least 18 states where farmers this year are testing state-of-the-art AI tractor technology. A rural response perhaps to the self-driving cars increasingly spotted in major cities.Here, Mike and Betsy start their high-tech tractor from an iPhone. >> Oh my gosh. and save hours of work.The tech, courtesy of agriculture giant John Deere, who' ...

Core Viewpoint - The Jinan Branch of Industrial Bank is focusing on the "three rural issues" by innovating service models to provide comprehensive financial support for agricultural enterprises, thereby enhancing farmers' income, agricultural efficiency, and rural revitalization [1][2]. Group 1: Financial Services Innovation - The Jinan Branch has developed a customized financial solution called "Leading Enterprises Empowerment + Chain Coverage" to address the challenges faced by agricultural enterprises [2]. - This solution includes direct funding support through traditional credit for leading enterprises, while also providing supply chain financing services for downstream feed distributors and individual farmers, thus enhancing the overall efficiency of the agricultural supply chain [2]. Group 2: Impact on Agricultural Sector - The collaboration between the Jinan Branch and a key agricultural enterprise demonstrates a deep integration of finance and the real economy, facilitating a win-win situation for both upstream and downstream participants in the agricultural chain [2]. - The bank aims to extend its financial services to the entire agricultural value chain, from upstream planting to downstream processing, thereby promoting high-quality development in the agricultural sector [2].

Core Insights - Bioceres Crop Solutions reported total revenues of $77.5 million for the fiscal first quarter 2026, reflecting a 17% decline year-over-year due to a strategic shift away from low-margin sales [1][5][6] - The company experienced a net loss of $7.5 million, compared to a loss of $6.2 million in the same quarter last year, while Adjusted EBITDA increased by 61% to $13.6 million [1][8][6] Financial Performance - Total revenues decreased from $93.2 million in 1Q25 to $77.5 million in 1Q26, with significant declines in Crop Protection (down 16%) and Seed and Integrated Products (down 37%) [4][5] - Gross profit was $36.2 million, a 3% reduction from the previous year, but gross margin improved from 40.2% to 46.7%, indicating a more profitable product mix [4][5][7] - Operating profit for the quarter was $7.1 million, with Adjusted EBITDA showing a substantial increase of 61% year-over-year, reflecting improved margin quality and cost discipline [5][8] Management Commentary - CEO Federico Trucco emphasized the company's focus on improving revenue quality, protecting margins, and maintaining operational discipline, despite challenging conditions in Argentina [3] - The management is prioritizing actions to strengthen the capital structure and enhance financial flexibility while focusing on margin quality and working-capital efficiency [3] Market Conditions - The revenue decline was attributed to a planned reduction in low-margin sales and the timing of sales in certain Latin American markets, particularly Uruguay [6][8] - In Argentina, while there are signs of demand recovery for select products, the overall recovery remains gradual [6][8]

Core Insights - Bayer AG reported adjusted earnings of 17 cents per ADS (57 cents in euros), an increase from 7 cents a year ago (24 cents euros) [1] - Sales reached $11.29 billion, surpassing the consensus estimate of $10.93 billion [1] - Group sales for Q3 2025 were 9.660 billion euros, reflecting a 0.9% increase on a currency- and portfolio-adjusted basis [1] Agricultural Business (Crop Science) - Sales in the agricultural segment increased by 1.3% to 3.858 billion euros [1] - The Corn Seed & Traits division saw significant growth, with sales up 22.4% due to higher volumes across all regions [2] Pharmaceuticals Division - Sales of prescription medicines totaled 4.335 billion euros, marking a 0.4% increase [3] - Notable growth was observed in the sales of Nubeqa (prostate cancer drug) and Kerendia (chronic kidney disease drug) [3] Consumer Health Division - Sales of self-care products rose by 2% to 1.415 billion euros, although growth was hindered by challenges in key markets [4] - Categories such as Dermatology, Digestive Health, and Pain & Cardio saw increases, while Allergy & Cold sales declined by 7.8% [4] Financial Performance - Adjusted EBITDA increased by 20.8% to 1.511 billion euros, primarily driven by growth in the Crop Science division [4] - Bayer announced additional provisions of 1.06 billion euros and higher litigation costs, leading to an expected adjusted EBITDA loss of 3.5 billion-4 billion euros for 2025 [6] Management Commentary - CEO Bill Anderson emphasized the resilience of the agricultural and Pharmaceuticals divisions while acknowledging challenges in Consumer Health [5] - The company is confident in its ability to manage litigation risks significantly by the end of 2026 [7]

You've said you have almost no equity left. >> It's getting down. It's getting down. It's getting low.>> Do you think you can make it another year. >> I don't know. I don't know.Do you just keep going rolling the dice hoping things will turn. I mean, it's not looking good. President Trump has promised a new bailout for American farmers, as much as $13 billion that he said would be paid for by the tariffs.>> We're going to take some of that tariff money that we made. We're going to give it to our farmers who ...

Core Viewpoint - The modernization of agriculture and rural areas is crucial for the overall modernization of China, as highlighted by the 20th Central Committee's emphasis on accelerating agricultural modernization and promoting rural revitalization [1] Group 1: Agricultural Modernization - The "14th Five-Year Plan" period focuses on prioritizing agricultural and rural development, leading to significant historical achievements [1] - There remains a substantial gap between urban and rural development, particularly in infrastructure, public services, and living conditions, indicating that agricultural modernization is a relatively weak link in national modernization [1] - Accelerating agricultural modernization aims to break this imbalance and ensure that farmers can also enjoy the benefits of modernization [1] Group 2: Poverty Alleviation - Consolidating and expanding the achievements of poverty alleviation is fundamental to addressing agricultural and rural shortcomings [2] - Despite achieving comprehensive victory in poverty alleviation, measures must be taken to prevent the risk of returning to poverty, necessitating the establishment of long-term mechanisms for monitoring and support [2] - Upgrading industries in poverty-stricken areas is essential to enhance internal development momentum and ensure the sustainability of poverty alleviation results [2] Group 3: Agricultural Production Capacity - Enhancing agricultural comprehensive production capacity and quality efficiency is the fundamental way to address agricultural and rural shortcomings [2] - Current challenges include tightening resource constraints, increasing environmental pollution, and growing international competition, making it urgent to improve agricultural production capacity and quality [2] - The focus should shift from quantity to quality in agricultural development, promoting technological, green, quality, and brand agriculture to optimize and upgrade agricultural structures [2] Group 4: Rural Environment and Livelihood - Promoting the construction of livable and workable beautiful villages is a key aspect of addressing agricultural and rural shortcomings [2] - Although rural living conditions have improved, there is still significant room for enhancement compared to urban areas [2] - The goal is to create a more beautiful environment, convenient living conditions, thriving industries, and prosperous culture in rural areas, enabling farmers to achieve employment and income growth locally [2] Group 5: Policy Support - Policies are vital levers for promoting agricultural and rural development, and enhancing the effectiveness of strong agricultural support policies is a powerful guarantee [3] - The focus should be on improving the policy system for agricultural support, ensuring timely and precise implementation of policies to benefit farmers [3] - Increasing farmers' understanding and utilization of policies is essential to stimulate their participation in agricultural modernization efforts [3] Group 6: Overall Modernization - Without agricultural and rural modernization, national modernization cannot be achieved [3] - Addressing the "largest shortcoming" in agriculture and rural areas requires reforms, technological advancements, and improvements in living standards [3] - The goal is to facilitate the free flow of urban and rural factors, promote positive interactions, and make agricultural strength, beautiful rural areas, and prosperous farmers a common reality [3]