值得一提的是，禾裕泰目前仍处于亏损阶段，核心原因是农化产品市场价格持续低位波动，叠加产能利 用率不足。不过亏损态势已呈现改善迹象，2025年上半年亏损额较上年同期有所收窄，第三季度经营情 况进一步向好。 11月18日晚，巍华新材（603310）（603310）发布公告，公司控股子公司浙江方华化学有限公司（简 称"方华化学"）拟以现金收购浙江欣禾生物股份（600201）有限公司（简称"欣禾生物"）持有的江苏禾 裕泰化学有限公司（简称"禾裕泰"）70%股权，交易对价1.54亿元，资金来源为自有资金及银行贷款。 交易完成后，禾裕泰将成为公司控股孙公司，纳入公司合并财务报表范围。 巍华新材表示，本次收购完成后，将通过大力拓展销售渠道、进一步提升产能利用率、优化产品工艺、 强化内部运营管理等措施，力争禾裕泰在2026年度开始实现扭亏为盈，并在未来持续创造稳定收益。 禾裕泰于2013年6月成立于江苏淮安，注册资本1.2亿元人民币，主营农药原药、制剂及中间体，业务布 局覆盖除草剂、杀菌剂等多品类农化产品，是具备研发、生产、销售一体化能力的农化企业。 巍华新材主要从事氯甲苯、三氟甲基苯系列精细化工产品的研发、生产和销售，公司 ...

Core Viewpoint - Wihua New Materials plans to acquire a 70% stake in He Yu Tai Chemical for 154 million yuan, aiming to enhance its competitiveness in the agricultural chemical sector and extend its product chain [2][3] Group 1: Acquisition Details - The acquisition involves Wihua's subsidiary, Zhejiang Fanghua Chemical, purchasing the stake from Zhejiang Xinhai Biological [2] - The transaction will be funded through self-owned funds and bank loans, with He Yu Tai becoming a controlled subsidiary post-acquisition [2] - He Yu Tai, established in June 2013, specializes in the research, production, and sales of agricultural chemicals, including herbicides and fungicides [2] Group 2: Strategic Rationale - The acquisition is part of Wihua's strategy to vertically extend its industrial chain, enhancing its overall competitiveness in the industry [2] - By acquiring He Yu Tai, Wihua can bypass lengthy and costly pesticide registration processes, potentially saving 2-3 years in market entry time [3] - He Yu Tai has faced losses due to low market prices and underutilization of capacity, but signs of improvement are noted, with reduced losses expected in the first half of 2025 [3] Group 3: Future Plans - Post-acquisition, Wihua aims to improve He Yu Tai's sales channels, capacity utilization, and internal operations to achieve profitability by 2026 [3] - He Yu Tai's current products rely on three main raw materials that are also produced by Wihua, ensuring stable supply and reducing procurement uncertainties [3]