9月11日，国投丰乐种业股份有限公司在公司会议室接受了广发证券、长江证券2家机构的现场调研，公 司董事会秘书顾晓新参与接待。此次调研中，公司就玉米产业、水稻产业、并购重组、农化业务及定增 项目等方面与机构进行了交流。 玉米产业：多品种发力，营收增长 国投丰乐种业玉米产业目前主要经营铁391K、铁391、丰乐520、WK1505等品种，本经营年度营业收入 有所增长。 铁391K作为国内首批审定的37个转基因玉米品种之一，于2023年12月获农业农村部颁发的转基因玉米 品种审定证书。其受体品种铁391入选2023年农业农村部推广目录"苗头型品种"。铁391K销售区域覆盖 吉林、辽宁、内蒙古、河北四省，上市后累计推广面积位居前列。丰乐520主要在黄淮海地区推广，是 绿色优质高抗性品种，公司通过多经营主体协同策略推动其销量增长。WK1505在东北地区推广，种植 表现良好，推广速度刷新公司新品种推广记录。 水稻产业：差异化发展，市场认可度提升 公司水稻产业坚持差异化、特色化发展思路，构建高效营销网络，推动区域资源整合。以乐优966为代 表的乐优系列、以祥两优676为代表的祥两优系列品种销量持续增加，南陵早2号、中科发早 ...

Sales Performance - In the 2024-2025 operating year, the company achieved corn seed sales of over 30 million kilograms, with "Tie 391" and "Tie 391K" accounting for over 11 million kilograms [2] - The main promoted corn varieties in Northeast and Northwest regions are "Tie 391" and "Tie 391K," while "Fengle 520" leads the green high-resistance series in the Huang-Huai-Hai market [2][3] - The sales of "Fengle 520" reached over 4 million kilograms in the 2024-2025 operating year [3] Inventory and Production - As of the end of Q1 2025, inventory was 937 million RMB, a year-on-year increase of 264 million RMB from 673 million RMB in Q1 2024, primarily due to increased corn seed inventory [3] - The company expects to reduce the seed production area in 2025 based on market inventory assessments [3] Financial Strategy - The company plans to raise a total of no more than 1,088.6486 million RMB through a private placement, which will be used to supplement working capital and repay bank loans [3] - This fundraising is aimed at optimizing the asset-liability structure and enhancing financial strength for high-quality R&D and operational development [3] Agricultural and Chemical Business - In 2025, the company will increase R&D investment in the agricultural chemical sector, focusing on green and low-residue pesticides and bio-pesticides [4] - The strategy includes upgrading production lines and exploring new crop solutions to seek new economic growth points [4] Spice Business Development - The spice industry will focus on product differentiation and market strategies, aiming to solidify the market position of natural menthol and menthol oil [4] - The company plans to cultivate potential products like peppermint oil and develop 2-3 core products, while also preparing for market entry of new products [4]