Group 1 - The company held a performance briefing on September 19, 2025, to discuss its mid-year results with investors [1] - The event was attended by the company's chairman, general manager, and financial director, allowing for in-depth communication with investors [1] Group 2 - Despite challenges in the agricultural chemical industry, the company achieved revenue and profit growth in the first half of the year due to improved market conditions and strong demand for specific products [2] - The company is focusing on enhancing cooperation with core customers and increasing production capacity, particularly for its Klobucan and Sterilization products, which are expected to drive further performance growth [2] - The company addressed concerns regarding its declining stock price and shareholder sell-offs, attributing these fluctuations to macroeconomic factors and stating that recent sell-offs were normal financial behaviors by long-term investors [2]

Group 1: Company Performance - The company achieved revenue and profit growth in the first half of the year despite challenges in the agricultural chemical industry, such as overcapacity and price pressure [2] - The company's production and sales of key products, such as Keguan Dan and Mie Jun Dan, have increased significantly, with the production capacity being fully utilized [2] - The company is actively advancing the expansion plan for Mie Jun Dan to meet the growing customer demand, which is expected to enhance its market share and competitiveness globally [2] Group 2: Market and Investor Relations - The recent decline in stock price and shareholder sell-offs are attributed to macroeconomic factors, industry cycles, and market sentiment, which are beyond the company's control [3] - The company emphasizes its commitment to maintaining market value and has disclosed a stock price stabilization plan in its prospectus, which will be executed if certain conditions are met [3] - The company reassures investors of its stable operational activities and strategic planning, expressing confidence in long-term growth and performance [3]

Core Insights - Guangkang Biochemical reported a revenue of 399 million yuan for the first half of 2025, marking a year-on-year increase of 25.55% [1] - The net profit attributable to shareholders reached 29.01 million yuan, up 32.13% year-on-year, with a significant increase of 190% in net profit after deducting non-recurring gains [1] - The company achieved a positive net cash flow from operating activities of 38.67 million yuan, reversing from a negative position in the same period last year [1] Revenue Breakdown - The revenue from the raw material business was 329 million yuan, an increase of 18.26%, accounting for 82.42% of total revenue [1] - The formulation business generated 69.05 million yuan, showing a substantial growth of 82.64% [1] - The growth in revenue is attributed to increased sales of fungicide products and expansion in the formulation business, alongside cost reduction through optimized production processes [1] R&D and Innovation - The company invested 16.70 million yuan in R&D, reflecting an 11.83% increase year-on-year [2] - Guangkang Biochemical achieved certification for the GB/T29490-2023 intellectual property compliance management system and was recognized as a provincial-level technology center [2] - The company has developed expertise in key technology areas such as chlorination and diazotization, supporting continuous product upgrades [2] Market Strategy and Product Development - The company adheres to a "differentiated and niche" competition strategy, which has proven effective [2] - Core products such as Kexingdan and Mieqingdan received a 15-year renewal approval from the EU, with usage restrictions lifted, expected to boost overseas market demand [2] - The production lines for Mieqingdan at the Yingde base are operating at full capacity, while the Kexingdan production capacity at the Shaoguan base is continuously increasing [2] Product Portfolio and International Collaboration - Guangkang Biochemical is a major supplier of succinate dehydrogenase inhibitors and trichloromethyl sulfur fungicides, with a strong product matrix including Benfluralin, Thifensulfuron, and Kexingdan [2] - The company is the sole domestic producer of Toxaphene, and its clean production processes for Kexingdan and Mieqingdan have received national invention patents [2] - The company maintains stable collaborations with multinational agrochemical firms such as UPL and ADAMA, with products distributed in major markets like the US and EU [2]

Core Viewpoint - Runfeng Co., Ltd. has postponed several fundraising projects initially planned for investment, citing complex and changing market conditions in the agricultural chemical industry as the primary reason for these delays [2][4][5]. Group 1: Project Delays - Runfeng Co., Ltd. announced the postponement of multiple fundraising projects, including the "9000 tons of Clomazone project," "38800 tons of herbicide project," "plant protection product R&D center project," and "25000 tons of glyphosate continuous technology transformation project" [1][3]. - Since mid-2022, Runfeng Co. has repeatedly adjusted the timelines for several fundraising projects, with some projects undergoing three adjustments over four years [1][2]. - The "25000 tons of glyphosate continuous technology transformation project" has been postponed from May 2024 to May 2026, while the "herbicide project" has also seen its timeline extended from July 2025 to July 2026 [3][5]. Group 2: Market Conditions - The agricultural chemical industry, where Runfeng operates, is currently at a cyclical low, characterized by oversupply, which has led to the postponement of investment projects [2][6]. - The company noted that the prices of most crop protection raw materials are at historical lows, and the market is expected to remain oversupplied due to increased production capacity in China and India [6]. - Runfeng Co. anticipates that the market will transition from "de-stocking" to "de-capacity" by 2025, leading to intensified competition and potential exits of non-competitive firms from the market [6]. Group 3: Strategic Adjustments - Runfeng Co. has indicated that the changes in fundraising project allocations are a response to evolving market demands and product pricing, reflecting a strategic adjustment to its business planning [2][5]. - Despite the delays, the company maintains that the postponed projects still align with its long-term strategic planning and remain necessary and feasible for future investment [5][6].

Core Viewpoint - Guangkang Biochemical (300804) has reported a total order volume of 3,630 tons for its Kegun Dan and Mie Jun Dan products, amounting to approximately 92.9067 million yuan, indicating strong market demand and potential for future growth [1] Group 1 - The company is actively promoting the expansion and transformation of Kegun Dan and Mie Jun Dan production, which is expected to enhance its market influence [1] - The anticipated production expansion is likely to have a positive impact on the company's future performance [1]

广康生化：美国关税调整对公司生产经营不会产生重大不利影响 智通财经4月8日电，广康生化(300804.SZ)公告称，公司对美国客户的直接销售额占总收入的比例较 低，且主要产品可替代性弱，国际市场对中国原药的依赖性强，因此本次美国关税调整对公司生产经营 不会产生重大不利影响。同时，公司将通过协商定价机制等举措，与客户共同分担潜在成本压力，并计 划扩大内销以及开拓新兴市场，以提升抗风险能力。此外，公司核心产品克菌丹和灭菌丹已获得欧盟续 期批准，预计将有助于公司产能的释放和业绩的增长。 ...

股票简称：广康生化 股票代码：300804 广东广康生化科技股份有限公司 （Yingde Greatchem Chemicals Co., Ltd.） （英德市农用化工产业链专用基地（英德市沙口镇红丰管理区）） 首次公开发行股票并在创业板上市 之 上市公告书 保荐人（主承销商） （深圳市前海深港合作区南山街道桂湾五路128号前海深港基金小镇B7栋401） 2023 年 6 月 广东广康生化科技股份有限公司 上市公告书 特别提示 广东广康生化科技股份有限公司（以下简称"广康生化"、"本公司"、"发行 人"或"公司"）股票将于 2023 年 6 月 27 日在深圳证券交易所创业板市场上市。 创业板公司具有业绩不稳定、经营风险高、退市风险大等特点，投资者面临 较大的市场风险。投资者应充分了解创业板市场的投资风险及本公司所披露的风 险因素，审慎做出投资决定。 本公司提醒投资者应当充分关注定价市场化蕴含的风险因素，知晓股票上 市后存在跌破发行价的可能，切实提高风险意识，强化价值投资理念，避免盲 目炒作，监管机构、发行人和保荐人（主承销商）均无法保证股票上市后不会 跌破发行价格。 如无特别说明，本上市公告书中的简称或名词 ...

本次股票发行后拟在创业板市场上市，创业板公司具有创新投入大、新 旧产业融合成功与否存在不确定性、尚处于成长期、经营风险高、业绩不稳 定、退市风险高等特点，投资者面临较大的市场风险。投资者应充分了解创 业板市场的投资风险及本公司所披露的风险因素，审慎作出投资决定。 创业板风险提示 广东广康生化科技股份有限公司 （Yingde Greatchem Chemicals Co., Ltd.） 首次公开发行股票并在创业板上市 招股说明书 保荐人（主承销商） 发行概况 | 发行股票类型 | 人民币普通股（A 股） | | | | | --- | --- | --- | --- | --- | | 发行股数 | 本次公开发行股票 1,850 | | | 万股，占发行后总股本的比例为 25%。本次发行全部为新股发行，不涉及股东公开发售股份 | | | 的情形 | | | | | 每股面值 | 人民币 1.00 元 | | | | | 每股发行价格 | 人民币 42.45 元/股 | | | | | 发行日期 | 年 2023 13 | 6 | 月 | 日 | | 拟上市证券交易所和板块 | 深圳证券交易所创业板 | | | ...

广东广康生化科技股份有限公司 首次公开发行股票并在创业板上市发行公告 保荐人（主承销商）：华泰联合证券有限责任公司 特别提示 广东广康生化科技股份有限公司（以下简称"广康生化"、"发行人"或"公 司"）根据《证券发行与承销管理办法》（证监会令〔第 208 号〕）（以下简称"《管 理办法》"）《首次公开发行股票注册管理办法》（证监会令〔第 205 号〕）（以下简 称"《注册办法》"）《深圳证券交易所首次公开发行证券发行与承销业务实施细则》 （深证上〔2023〕100 号）（以下简称"《业务实施细则》"）《深圳市场首次公开发 行股票网上发行实施细则》（深证上〔2018〕279 号）（以下简称"《网上发行实施 细则》"）及《深圳市场首次公开发行股票网下发行实施细则（2023 年修订）》（深 证上〔2023〕110 号）（以下简称"《网下发行实施细则》"）《首次公开发行证券承 销业务规则》（中证协发〔2023〕18 号）（以下简称"《承销业务规则》"）《首次公 开发行证券网下投资者管理规则》（中证协发〔2023〕19 号）（以下简称"《网下 投资者管理规则》"）等相关法律法规、监管规定及自律规则等文件，以及深圳证 券 ...

广东广康生化科技股份有限公司 （Yingde Greatchem Chemicals Co., Ltd.） 首次公开发行股票并在创业板上市 本次股票发行后拟在创业板市场上市，创业板公司具有创新投入大、新 旧产业融合成功与否存在不确定性、尚处于成长期、经营风险高、业绩不稳 定、退市风险高等特点，投资者面临较大的市场风险。投资者应充分了解创 业板市场的投资风险及本公司所披露的风险因素，审慎作出投资决定。 创业板风险提示 保荐人（主承销商） 英德市农用化工产业链专用基地（英德市沙口镇红丰管理区） 招股意向书 （深圳市前海深港合作区南山街道桂湾五路128号前海深港基金小镇B7栋401） 广东广康生化科技股份有限公司 首次公开发行股票并在创业板上市招股意向书 声 明 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发 行人注册申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表 明其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保 证。任何与之相反的声明均属虚假不实陈述。 根据《证券法》规定，股票依法发行后，发行人经营与收益的变化，由发 行人自行负责；投资者自主判断发行人的投资价值 ...