Investment Rating - The investment rating for the company is "Buy" with a first-time recommendation [11]. Core Views - The company is expected to achieve breakthrough growth by leading the current variety replacement cycle with its densely planted product, Kangnongyu 8009, which is set for large-scale promotion in the Huanghuaihai region in 2024 [4][7]. - The company has shown strong revenue growth, with a projected revenue of 3.37 billion yuan in 2024, representing a year-on-year increase of 16.8%, and a net profit of 830 million yuan, up 55.2% year-on-year, primarily driven by the market expansion of Kangnongyu 8009 [8][24]. Summary by Sections Company Overview - Kangnong Seed Industry, established in 2007, focuses on the research, production, and sales of hybrid corn seeds, driven by scientific innovation [8][18]. - The company has a concentrated ownership structure, with the chairman holding 51.56% of the shares, indicating strong management expertise [8][18]. Industry Analysis - The corn seed industry in China is currently experiencing a period of variety replacement, supported by national policies aimed at revitalizing the seed industry and reducing homogenization [9][30]. - The introduction of new seed laws and policies since 2021 aims to enhance intellectual property rights and promote innovation, which could lead to improved profit margins for quality enterprises [9][30][47]. Competitive Position - The company has established a significant market presence in the central and southwestern regions of China, with a market share of 5.97% in these areas [10][11]. - Kangnongyu 8009 has been recognized for its high yield and resilience, achieving a second-place ranking in a national corn variety competition with a yield of 1,089 kg per mu [10][11]. Future Development - The company's future growth strategy includes regional expansion and product innovation, leveraging the advantages of its densely planted varieties to increase market penetration [11][18]. - The company is also focusing on high-protein corn products to reduce reliance on imported soybean meal, with several of its corn varieties exceeding the national protein content standard of 11% [11][18].

Group 1: Investor Relations Activities - The company participated in the 2025 online collective reception day for investors in Hubei on June 12, 2025 [3][4] - The event was conducted remotely via the "Panorama Roadshow" website [4] Group 2: Key Issues Addressed - The company is expanding its business into the Huang-Huai-Hai region with multiple new varieties entering the approval stage, aiming to enhance market competitiveness [6] - In the Northeast region, the company is addressing ear rot disease with two main varieties, JN 198 and HSD 568, showing significant disease resistance [6] - Strategic partnerships have been established with research institutions to enhance R&D capabilities in the Northeast [6] Group 3: M&A Plans - The company is considering M&A plans based on industry developments and its own strategic goals, with timely disclosures to be made as required [6]

□特定对象调研 √业绩说明会 证券代码：837403 证券简称：康农种业 公告编号：2025-050 湖北康农种业股份有限公司 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 投资者关系活动类别 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 二、 投资者关系活动情况 活动时间：2025 年 5 月 21 日(星期三)15：00-16:00 活动地点：价值在线（www.ir-online.cn） 参会单位及人员：通过网络方式参加公司 2024 年年度报告说明会的投资者 上市公司接待人员：公司董事、总经理彭绪冰先生；董事、董事会秘书李丹 妮女士；财务负责人邓恢勇先生；一创投行保荐代表人刘毅先生。 三、 投资者关系活动主要内容 回答：尊敬的投资者，您好。目前我国玉米种子行业整体供大于求的局面对 于种业企业既是挑战也是机遇。从宏观层面讲，我国将粮食安全摆在极为重要的 位置，从政策层面对种业良性发展起到了良好的支撑。从行业和企业层面讲，种 业行业竞争加剧有助于 ...

Market Overview - The A-share market shows a mixed performance with the Shanghai Composite Index closing at 3342.00, down 0.30%, and the Shenzhen Component Index at 10126.83, down 0.69% [2] - The total market capitalization of the Shanghai Composite Index is 6425.68 billion, with a price-to-earnings (PE) ratio of 11.78 and a price-to-book (PB) ratio of 1.22 [3] Economic Indicators - In April, China's CPI decreased by 0.1% year-on-year, while the PPI fell by 2.7% [24][25] - China's exports in April, measured in USD, increased by 8.1% year-on-year, exceeding market expectations [28][30] Industry Dynamics - In April 2025, excavator sales in China continued to grow, with a total of 22,142 units sold, representing a year-on-year increase of 17.6% [37] - The global power battery installation reached 206.9 GWh in Q1 2025, with lithium iron phosphate batteries accounting for 51.5% of the total [39][40] Company Updates - Jinzai Food (003000.SZ) has successfully launched its new product, soft-boiled quail eggs, in select stores [44] - Meikang Bio (300439.SZ) has obtained two medical device registration certificates, enhancing its product line in the in vitro diagnostic field [47] - Qingdao Beer (600600.SH) plans to acquire 100% equity of Shandong Jimo Yellow Wine Factory for 665 million RMB, aiming to diversify its product offerings [49][51] - Kangnong Seed Industry (837403.BJ) reports rapid growth in the promotion area of its corn variety, Kangnongyu 8009, and steady progress in its transgenic business [53]

证券代码：837403 证券简称：康农种业 公告编号：2025-048 湖北康农种业股份有限公司 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 投资者关系活动类别 □新闻发布会 □分析师会议 □路演活动 √其他 投资者交流网络会议 二、 投资者关系活动情况 □特定对象调研 □业绩说明会 □媒体采访 □现场参观 活动时间：2025 年 5 月 6 日至 2025 年 5 月 8 日 总体而言，公司在转基因领域正稳步推进，期待在未来取得更多突破。 问题 3：公司在高蛋白玉米方面做了哪些储备工作，未来可能给公司带来哪 些增量？ 活动地点：进门财经网络会议 参会单位及人员：上海昭云投资、敦和资产、北京诚盛投资、上海冰河资产、 汇安基金、中国人保资产、长江证券、华泰证券、平安养老保险、北京东方睿石、 玄卜投资(上海)、工银理财、中天国富证券、上海棒杰医疗投资、中国国际金融 股份有限公司、中国石化集团资本有限公司、嘉实基金、泰康资产、浙江巴沃私 募基金、汇安基金、PinPoint As ...