证券日报网讯富邦科技（300387）11月26日在互动平台回答投资者提问时表示，数字农业服务及相关生 物制剂产品作为公司战略性新兴业务，目前正处于技术积累与市场开拓期。其前期研发投入较大、项目 定制化程度较高，因此毛利率表现与传统成熟业务存在差异。具体财务数据请以公司披露的定期报告为 准。 ...

Core Viewpoint - The digital empowerment of modern agriculture is essential for achieving high-quality agricultural development and accelerating the construction of a strong agricultural nation, significantly enhancing the level of agricultural digitalization and intelligence [1] Group 1: Digital Agriculture Development - The integration of new information technologies such as IoT, AI, cloud computing, and big data with agriculture has accelerated the digitalization process in China, with agricultural technology progress contribution rate exceeding 63% and the informationization rate approaching 30% by 2024 [1] - As of January this year, the Ministry of Agriculture and Rural Affairs has supported the establishment of 34 national digital agriculture innovation centers and 116 smart agriculture innovation application projects, injecting new momentum into the transformation and upgrading of traditional agriculture [1] Group 2: Policy Framework - The central government has issued several key documents, including the "Digital Agriculture and Rural Development Plan (2019-2025)" and the "14th Five-Year Plan for Digital Agriculture Construction," emphasizing the integration of digital technology with the agricultural economy and strengthening digital production capacity [1] Group 3: Challenges in Digital Transformation - Current challenges in agricultural digital transformation include inadequate infrastructure, insufficient depth of technology and industry integration, and a lack of high-quality talent, leading to high investment costs and low conversion rates in some digital agriculture sectors [2] - There is a need for coordinated efforts among industrial policies, enterprises, and consumers to address these challenges effectively [2] Group 4: Role of Industry Policies - Industry policies should utilize financial subsidies, tax incentives, and agricultural insurance to support the construction of digital agriculture infrastructure and shorten project implementation cycles [2] - Adjustments in funding policies should focus on key areas such as digital and smart agriculture to promote a path of agricultural industrialization centered on smart agriculture [2] Group 5: Role of Enterprises - Enterprises should drive modern agricultural development through technological innovation, establishing a collaborative system among government, industry, academia, and research to enhance overall agricultural technology innovation efficiency [2] - Leading technology enterprises should focus on the digital transformation of the entire agricultural production chain, expanding the application scenarios of digital technologies [2] Group 6: Consumer Engagement - Consumers can play a role in promoting modern agriculture by creating digital agriculture platforms that strengthen the connection between consumers and agricultural production, focusing on green, healthy, and organic consumption demands [3] - Utilizing big data to analyze consumer preferences can facilitate the digital transformation and upgrading of the modern agricultural industry chain [3]

Group 1 - The core business of the company’s subsidiary, Longping Kaihong, focuses on the digital agriculture sector [1] - The company aims to enhance production efficiency, reduce operational costs, and optimize resource allocation through technology [1] - The goal is to create value for participants and promote a sustainable business loop in digital agriculture services [1]

Report Summary 1. Report Industry Investment Rating There is no information about the industry investment rating in the provided report. 2. Core Viewpoints - The company has established a comprehensive R & D innovation guarantee mechanism, focusing on the construction of strain resource libraries, development of efficient fermentation processes, and research on field application technologies in the modern agriculture field [23]. - The company's auxiliary business achieved both quality and efficiency improvement in 2024, with an operating income of 902.47 million yuan, a year - on - year increase of 9.35%. The future will be customer - demand - oriented, improving the global integrated operation system [23]. - The company will continue to rely on carriers and research platforms, focus on the "fertilizer - water - pesticide coupling + digital technology" path, and launch a new generation of modern agricultural products [25]. - In the marketing model, the company will implement the "1 + X" strategic marketing model, and actively promote the globalization layout [26]. - In the bio - agriculture field, the company will strengthen the exploration of application scenarios, focus on business ecosystem construction, and promote the "Tian Sheng Dan" project and overseas cooperation [28]. - The company plans to expand market share in Asia, Europe, Africa, and the former Soviet Union regions, and has specific overseas business plans for 2025 [28][29]. 3. Summary by Directory 3.1. Research Basic Situation - The research object is Fubang Co., Ltd., belonging to the fertilizer industry. The reception time was on June 12, 2025. The company's reception personnel included the chairman, general manager, deputy general manager, financial director, deputy general manager, board secretary, and independent director [16]. 3.2. Detailed Research Institutions - The institutions participated in the 2025 Hubei Province listed companies' online collective investor reception day through the Panorama Network live interactive platform [19]. 3.3. Research Institutions Proportion There is no relevant information provided in the report. 3.4. Main Content Data - **R & D and Transformation**: The company has a R & D innovation guarantee mechanism, and focuses on modern agriculture R & D. It aims to ensure core technology breakthroughs, build a collaborative innovation system, and optimize the transformation path [23]. - **Auxiliary Business**: In 2024, the auxiliary business had good performance. In the future, it will improve the global integrated operation system, expand domestic and overseas markets [23][24][25]. - **Digital and Biological Technology Integration**: The company will rely on carriers and platforms, focus on the "fertilizer - water - pesticide coupling + digital technology" path, and launch new products and solutions [25]. - **Marketing Model**: Implement the "1 + X" strategic marketing model, and promote globalization [26]. - **Bio - agriculture**: Strengthen application scenario exploration, research and development, team building, and project construction, and promote overseas business [28]. - **Regional Layout**: Expand market share in Asia, Europe, Africa, and the former Soviet Union regions, and has specific plans for 2025 [28][29]. - **Overseas Business**: In 2024, the overseas business performance improved significantly, outputting various products and services. The company adheres to the "biotechnology + digital technology" dual - wheel drive strategy [31]. - **Market Value Management**: The company will consider stock repurchase and dividend policies, and promote the extension development strategy through mergers and acquisitions [32][33]. - **2025 Strategy**: The company will promote product upgrade, focus on "cost - reduction and yield - increase" solutions, and deepen the "going - out" strategy [35]. - **Mergers and Acquisitions**: Explore strategic mergers and acquisitions globally, following relevant principles [35]. - **Goodwill Management**: Conduct annual goodwill impairment tests [37]. - **Dividend Policy**: In 2025, the company completed the 2024 profit distribution, with no mid - term dividend plan currently [37]. - **Exchange Rate Risk**: The company has relatively small foreign exchange transaction risks in Europe and Africa, but there may be foreign currency conversion risks [38]. - **Brand Building**: The company attaches importance to market value management, participates in industry expos, and promotes the matching of market value and product competitiveness [38]. - **Smart Agriculture**: Adopt the "digital + biological" technology as the core, and use the industry - university - research cooperation model to promote the implementation of smart agriculture [39]. - **Business Expansion**: Based on industry trends, the company will optimize the layout of its core business segments [40]. - **Policy Adaptation**: Adjust and optimize business expansion and technological innovation according to national policies [42]. - **Order and Capacity**: The company's current orders and capacity utilization are normal [42]. - **Digital Agriculture Services**: The company has advantages in digital soil testing and fertilizer formulation, intelligent water - fertilizer integration, and orchard yield estimation. It has established demonstration bases and will promote the application of intelligent equipment [42][44]. - **Digital Agriculture Business**: In 2024, the digital agriculture business achieved significant revenue growth. In the future, it will deepen innovation, upgrade services, and promote green transformation [44][45]. - **2024 Operating Conditions**: In 2024, the company's overall operating income was 1.2350748 billion yuan, a year - on - year increase of 17.79%. The overseas business accounted for 45.48% of the total revenue [45][46].