每经AI快讯，托普云农（SZ 301556，收盘价：100.32元）9月5日晚间发布公告称，公司第四届第十四 次董事会会议于2025年9月5日在公司会议室以现场及通讯结合的方式召开。会议审议了《关于子公司股 权变更暨募投项目实施主体股权结构发生变化的议案》。 每经头条（nbdtoutiao）——烤肉店里洗头、西湖边开面包店、进军高端酒店……海底捞"不务正业"背 后：子品牌存活率不足50% （记者 王晓波） 2024年1至12月份，托普云农的营业收入构成为：智慧农业行业占比100.0%。 截至发稿，托普云农市值为86亿元。 ...

上海市锦天城律师事务所 关于江苏农华智慧农业科技股份有限公司 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于江苏农华智慧农业科技股份有限公司 法律意见书 致：江苏农华智慧农业科技股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受江苏农华智慧农业科技 股份有限公司（以下简称"公司"）委托，就公司召开 2025 年第一次临时股东 大会（以下简称"本次股东大会"）的有关事宜，根据《中华人民共和国证券法》 （以下简称"《证券法》"）、《中华人民共和国公司法》（以下简称"《公司 法》"）和中国证券监督管理委员会《上市公司股东会规则（2025 年修订）》 （以下简称"《股东会规则》"）等法律、法规、规章和其他规范性文件以及《江 苏农华智慧农业科技股份有限公司章程》（以下简称"《公司章程》"）的有关 规定，出具本法律意见书。 为出具本法律意见书，本所及本所律师依据《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 ...

"九马画山——走喽！" 漓江上，朝板山码头筏工郑海波的吆喝声荡开涟漪。 晨光熹微，桂林漓江岸边。退休渔民黄高连看着清冽的水面和游弋的鱼虾，不禁感慨："以前江水哪有这么 清，现在珍稀鱼类都游回来了。" 朝阳初升，广西友谊关口岸。满载越南、泰国榴莲的货车川流不息，操作熟练的司机，只需要七八秒就能通 关。东盟水果从枝头到中国餐桌，不足48小时。 夜幕降临，南宁五象云谷AI智算产业园智算中心，服务器集群高速运算，为千行百业输送海量算力，创新动 能于此奔涌。 透过三个时空，发展的潜力映射在八桂大地的万千气象中。"十四五"以来，广西于山水间落针，向开放前沿 走线，在创新高地成图，以实干之姿勾勒高质量发展宏图。 守绿，"变"出新业态 筏工郑海波在操作竹筏。人民网 梁章晖摄 "现在'突突'声没了，白鹭都敢停在竹筏上。"郑海波摊开双手，常年被燃油机震麻的手掌不再颤抖。回想从 前，发动机的噪音与漂浮的油花，曾一度掩盖漓江的清澈。 2024年，1000艘漓江游览排筏全面完成"油改电"，终结了郑海波10余年燃油筏工的"油烟人生"，"连给游客唱 山歌都比以前有劲儿！" "静"下来的漓江，在"解放"耳朵之外，带来的变化清晰可见：游船每公 ...

Core Insights - The integration of AI into agriculture is accelerating, driven by mature underlying infrastructure and supportive government policies, positioning agriculture as a key area for AI application [1][2] - The recent release of the State Council's opinions emphasizes the importance of accelerating the digital transformation of agriculture as a critical direction for AI+ industry development [1] - The trend towards AI in agriculture is expected to enhance food security and propel China from an "agricultural power" to an "agricultural technology powerhouse" [1] Policy Framework - The concept of "developing new quality productivity in agriculture" was introduced in the Central Document No. 1 this year, highlighting the need for smart agriculture and the application of AI and data technologies [2] - Local governments are actively implementing supportive measures, such as the "Jiaxing City Action Plan (2025-2027)" which promotes AI in modern agriculture and encourages the development of intelligent monitoring systems [2] - The establishment of a comprehensive policy framework is expected to provide solid support for the industrialization of AI in agriculture, enhancing the attractiveness for quality enterprises and capital [2] Industry Development - The current state of AI in agriculture is still in its early stages, but the pace of adoption is accelerating due to improved mechanization and clear quantitative policy goals [3] - Companies like Zhejiang Topcloudy Agricultural Technology Co., Ltd. and Hubei Fubon Technology Co., Ltd. are actively integrating AI into their agricultural practices, developing innovative tools and digital services [3] - Yuan Longping Agricultural High-Tech Co., Ltd. has successfully applied AI in breeding systems, achieving a 64.2% improvement in breeding efficiency through deep neural networks [3] Challenges and Solutions - Despite breakthroughs in various applications, the overall penetration rate of AI in agriculture remains low compared to industrial sectors, facing challenges such as data disconnection and talent misalignment [4] - Proposed solutions include establishing demonstration bases and cooperatives to alleviate data collection issues, developing low-cost solutions to lower barriers for farmers, and focusing on high-value crops to create benchmark cases [4]

Core Insights - The construction of the National Modern Agricultural Industrial Park in Shunyi District has made progress with the acceptance of the "Smart Management System for Agricultural Product Circulation" led by Shunxin Futong [1][3] - The system integrates various technologies such as blockchain, IoT, big data, industrial internet, and AI algorithms to enhance the digital transformation of agriculture in the region [3] Summary by Categories Project Overview - The "Smart Management System for Agricultural Product Circulation" has been gradually put into use and includes five core systems, such as the "Agricultural Product Supply Management System" and "Comprehensive Service System for Industrial Parks" [1][3] - The system aims to support the development of the two main industries in Shunyi District: pig breeding (seed industry) and facility vegetables, focusing on the entire digital development of the "production-processing-circulation" chain [3] Technological Integration - The system serves as the "central nervous system" for the digital transformation of the industry, providing precise empowerment for the pig breeding and facility vegetable sectors [3] - It aims to establish a traceable system for regional agricultural governance, creating a "smart cockpit" for agricultural management [3]

Group 1 - The company announced the resignation of independent director Huang Ming due to personal work reasons, along with his position on the audit committee [1] - Non-independent director Chen Huanyang also resigned from the board for personal reasons [1] - The company has approved the nomination of Liu Zhiyong as an independent director candidate and Wu Jiaman as a non-independent director candidate, pending shareholder approval [1] Group 2 - For the year 2024, the company's revenue composition is entirely from the smart agriculture sector, accounting for 100.0% [2]

为推进农业绿色低碳转型，助力乡村振兴，2024年9月，中国人民银行金融研究局选择在江西等五省市 开启农业转型金融标准试用工作。在中国人民银行江西省分行的精准指导下，宜春市分行将此项工作列 为重点工程，创新"四个一"行动框架（一个重点项目库、一家第三方机构、一组创新产品、一批配套政 策），推动农业转型金融标准试用工作走深走实。截至2025年7月末，已推动12个农业转型项目贷款落 地，年碳减排量达6000吨；3个项目获得第三方机构联合赤道机构专业评估核算；创新"碳减排挂钩贷 +"产品矩阵，累计投放3.73亿元转型贷款，利率最低至3.1%，相关做法被中国人民银行江西省分行发文 推广。 主要做法 构建高位推进机制，打造重点项目库。构建"双牵头+专班化"推进体系，推动市委、市政府将农业转型 金融标准试用工作纳入全市深化农村体制改革重点任务中，由中国人民银行宜春市分行与宜春市政府办 联合牵头，组建专班，明确"周调度、月创新、季评估"工作节奏，会同农业农村局建立信息共享机制， 从全市农业重点项目库中筛选符合转型标准的企业，建立"农业转型金融项目库"，实行动态管理。截至 目前，已组织银行赴奉新、丰城、高安等地开展现场调研，推 ...

Investment Highlights - The company is rated as outperforming the industry with a target price of 130.00 yuan, based on a PE valuation method corresponding to 57 times P/E for 2026 [1] - The smart agriculture sector presents a vast market opportunity, with a projected market size of 105 billion yuan in 2024 and a CAGR of 15% from 2019 to 2024 [1] - The company holds a leading position in the smart agriculture industry, with a market share of 34% in soil moisture monitoring equipment and 46% in county-level plant protection stations [1] Core Competitiveness - The company possesses core technologies with a strong R&D team, allocating 26% of its workforce and 11% of its budget to R&D in 2024, contributing over 75% of revenue from seven core technologies [2] - It offers integrated product services, with over 50% of revenue in 2023 coming from the combination of software and hardware solutions [2] - The company has established strong industry resources, having served over 1,000 county-level agricultural authorities and completed large-scale smart agriculture projects worth 67.56 million yuan in 2023, with a five-year CAGR of 81% [2] Growth Drivers - The company raised 230 million yuan through its IPO to enhance R&D, platform upgrades, and manufacturing capabilities, focusing on agricultural AI and smart agricultural robots as new growth engines [3] - It is actively expanding into new markets outside East China and internationally, aiming for steady market share growth [3] - The company is transforming commercial and civilian technology achievements, targeting a paid subscription area of 250 million acres, with significant market expansion potential [3] Potential Catalysts - Accelerated implementation of smart agriculture policies [4] - Breakthroughs in innovative technologies [4] - Rising prices of agricultural products [4] Profit Forecast and Valuation - The company is expected to achieve EPS of 1.87 yuan and 2.3 yuan for 2025 and 2026, respectively, with a CAGR of 26% [5] - The current stock price corresponds to 61 times P/E for 2025 and 50 times P/E for 2026, with a target price of 130 yuan indicating a potential upside of 13% [5]

Group 1 - The central government has assigned Zhejiang the mission of high-quality development and building a common prosperity demonstration zone, with Hangzhou leading the way in addressing development imbalances and ensuring equitable distribution of development benefits [1] - Hangzhou is focusing on narrowing the "three major gaps" and promoting integrated development of urban and rural areas, aiming for a new picture of common prosperity [1][3] - By 2024, the per capita disposable income of rural residents in Hangzhou is projected to reach 50,805 yuan, with the income gap between urban and rural residents narrowing to 1.64:1 [3] Group 2 - The implementation of smart agriculture in villages, such as in Jing Mountain Village, is enhancing traditional industries and driving rural development through data-driven practices [2] - The "Ten Million Project" aims to achieve significant progress in integrated urban-rural development by 2025, with breakthroughs expected by 2027 and transformative results by 2030 [3][4] - Hangzhou's six major actions include enhancing urban capabilities, improving rural quality, accelerating integration, increasing industrial efficiency, boosting income for common prosperity, and enriching culture [4] Group 3 - The integration of quality public services is crucial for urban-rural integration, with initiatives such as establishing health service points and improving pension standards [7] - Cultural activities and community engagement are being promoted to enhance the emotional connection between urban and rural residents [7] - The "Xiejing'an" village project exemplifies successful collaboration between government and enterprises, leading to significant economic growth and community development [8][9] Group 4 - The establishment of a "common prosperity body" in Dading Town focuses on creating a collaborative ecosystem involving government, strong village companies, enterprises, and farmers [10] - In the first half of the year, Hangzhou's agricultural output reached 26.1 billion yuan, with a year-on-year growth of 3.2%, and rural residents' disposable income increased by 5.2% [10]

Group 1 - The importance of solving the funding issue for rural revitalization is emphasized, with various policies and incentives being implemented to direct funds into agriculture and rural areas [1] - Various funding sources are providing strong support for rural industry revitalization and infrastructure construction, benefiting new agricultural operators, small farmers, and returning agricultural entrepreneurs [1] - The optimization and effective supply of funds for rural revitalization rely on well-designed top-level policies and institutional guarantees [2] Group 2 - A new mother fund named "One Village, One Product" has been established, focusing on modern agriculture and food processing, with a target scale of 3 billion yuan and an initial fundraising goal of 500 million to 1 billion yuan [2] - Social capital is driving high-quality development in digital agriculture through technological empowerment, as evidenced by a recent AI industry development conference that facilitated over 500 strategic partnerships and contracts exceeding 1 billion yuan [3] - The inauguration of digital agriculture facilities in Harbin marks a new phase in local digital agricultural development [3]