广西田园生化股份有限公司 招股说明书(申报稿) 报告期内，公司营业收入分别为17.12亿元、17.74亿元和17.50亿元，归母净利润分别为1.62亿元、2.29 亿元和2.49亿元，公司营业收入及利润水平较好，经营业绩稳定。 | 项目 | 2024.12.31/2024年度 | 2023.12.31/2023年度 | 2022.12.31/2022年度 | | --- | --- | --- | --- | | 资产总额(万元) | 161,832.40 | 136,396.40 | 135.459.91 | | 归属于母公司所有 者权益(万元) | 96,017.95 | 78,468.03 | 69,743.57 | | 资产负债率(母公 司) | 44.59% | 51.19% | 63.18% | | 营业收入(万元) | 174,989.54 | 177,373.35 | 171,179.36 | 1-1-22 智通财经APP获悉，7月4日，广西田园生化股份有限公司(简称：田园生化)申请深交所主板上市审核状 态变更为"已问询"，国海证券为其保荐机构，拟募资6.2975亿元。该公司是农药制剂行业内唯 ...

作为保障粮食安全的关键领域，农药行业一直备受资本市场关注。 2025年6月20日，广西田园生化股份有限公司（以下简称"田园生化"）向深圳证券交易所主板递交了IPO申报稿，正式开启了资本市场的征程。 7月3日，2025年第二批首发企业现场检查抽查名单发布。被抽中的12家企业中，田园生化赫然在列。 公开数据显示，自2022年以来，被抽中现场检查的IPO企业共计57家，其中IPO终止企业共计40家，IPO终止率达70.18%。 那么，此次田园生化"带病闯关"，还能顺利突围么？ 业绩增长乏力，高度依赖经销商 公开资料显示，田园生化成立于2001年，是一家专注于农药制剂研发、生产和销售的农业科技创新企业。 2022年-2024年，公司营业收入分别为171,179.36万元、177,373.35万元和174,989.54万元，归母净利润分别为16,163.20万元、22,864.30万元和24,854.64万元， 营业收入增长几乎停滞。 | 项目 | 2024.12.31/2024年度 | 2023.12.31/2023年度 | 2022.12.31/2022年度 | | --- | --- | --- | --- | ...

Core Viewpoint - Dalian Bai'ao Chemical Co., Ltd. is successfully transforming its business towards semiconductor equipment, showcasing significant growth in its high-end lithography machine segment and a strong order backlog [1][2]. Company Overview - Bai'ao Chemical has over 20 years of experience in the industrial biocide industry, with an annual production capacity exceeding 40,000 tons, making it the largest producer of isothiazolinone-based industrial biocide raw materials in Asia [1]. - The company has established semiconductor equipment as a strategic development direction in early 2024, marking a significant shift from its traditional industrial biocide business [1]. Semiconductor Equipment Business - Bai'ao Chemical acquired 54.63% voting rights in Suzhou Xinhuilian Semiconductor Technology Co., Ltd. (Xinhuilian) through capital increase and voting rights entrustment, integrating it into the company's consolidated financial statements [1]. - Xinhuilian specializes in the R&D, production, and sales of semiconductor equipment, with six major business segments including photolithography equipment and wet cleaning equipment [2]. Financial Performance - In 2024, Xinhuilian achieved operating revenue of 543 million yuan, a year-on-year increase of 215.75%, and a net profit attributable to shareholders of 97 million yuan, up 370.82% year-on-year [2]. - The gross profit margin for Xinhuilian was 51.31%, an increase of 20.12 percentage points compared to the previous year, with the photolithography equipment segment boasting a gross margin of 71.56% [2]. Customer Contracts - As of the end of 2024, Xinhuilian's top five customers had a total contract amount of 1.369 billion yuan, with over 1 billion yuan in contracts yet to be recognized as revenue [2][3]. - One significant customer accounted for a contract amount of 492 million yuan, including two major contracts for photolithography equipment scheduled for delivery in 2025 [3]. Market Outlook - The semiconductor equipment market is expected to experience rapid growth due to the increasing demand for specialized equipment and the domestic semiconductor industry's advancements [1][3].

Core Viewpoint - The company, Dalian Baiao Chemical Co., Ltd., reported a revenue of 1.312 billion yuan for its industrial biocide business in 2024, reflecting a year-on-year growth of 23.09%. However, the gross profit margin decreased by 8.28 percentage points to 44.30% due to increased competition and pricing pressures in the market [2][5]. Group 1: Financial Performance - The industrial biocide business generated 1.207 billion yuan in revenue, accounting for 92% of the main business income, with over 60% of this revenue coming from overseas markets [2][3]. - The company’s overseas revenue from 2021 to 2024 showed an upward trend, increasing from 471 million yuan in 2021 to 762 million yuan in 2024 [2]. - The average selling price of industrial biocide products decreased by 14.95%, while the unit cost increased by 0.70%, leading to an overall decline in gross profit margin [5][6]. Group 2: Product and Market Analysis - The company specializes in the research, production, and sales of isothiazolinone-based industrial biocides, with no direct competitors listed in the public market [5][6]. - The average sales prices of key products, such as CMIT/DCOIT and BIT series, experienced significant declines, with CMIT/DCOIT prices dropping by 25.03% [5][6]. - The company faced increased competition as domestic manufacturers expanded production capacity, leading to downward pressure on product prices [5][6]. Group 3: Customer and Supply Chain Insights - The company provided details on its top ten overseas customers, including their sales amounts and operational details, confirming that there are no related party transactions with these customers [8][9]. - The logistics and transportation costs for overseas sales have fluctuated significantly, with transportation expenses rising by 129.37% in 2024 compared to the previous year [10][11]. - The company’s overseas business transportation costs were primarily borne by the company, with major carriers being large international shipping companies [10][11]. Group 4: Semiconductor Business Overview - In 2024, the company acquired a 54.63% stake in Chipwise, which achieved a net profit of 103.29% of its performance commitment, indicating strong operational performance [13][14]. - Chipwise's revenue for 2024 reached 543.46 million yuan, with a significant increase in gross profit margin due to successful product lines [16][18]. - The company’s cash flow from operating activities for Chipwise remained negative, primarily due to high procurement costs for semiconductor equipment [17][18].

| 投资者关系活动类别 | 特定对象调研 分析师会议 | | --- | --- | | | 媒体采访 业绩说明会 | | | 新闻发布会 路演活动 | | | 现场参观  其他（反路演活动） | | 活动参与人员 | 万家基金：汪洋 | | | 国泰基金：邓时锋、丁小丹、钱晓杰 | | | 国海富兰克林：张瑞 | | | 平安养老：袁帅 | | | 长信基金：陈言午、黄振华 | | | 华宝基金：汤祺、张坤、袁银泉 | | | 沣谊投资：窦金虎 | | | 公司董事、副总经理：金逸中 | | | 公司董事会秘书、副总经理：张江山 | | | 公司证券事务代表：王英 | | 时间 | 2025 年 6 月 25 日-6 月 26 日 | | 地点 | 上海 | | 形式 | 反路演活动 一、公司的基本情况 | | | 公司成立于 1999 年，并于 2009 年上市，总部位于 浙江省台州市，是一家全球领先的含氟精细化学品制造 | | | 商，是行业内少数几家横跨无机及有机氟化工行业的企 | | 交流内容及具体问答记 | 业。以含氟技术为核心，公司已经覆盖的业务包括新型 | | 录 | 材料（新 ...

证券研究报告 | 北交所定期报告 | | --- | hyzqdatemark 2025 年 06 月 16 日 证券分析师 赵昊 SAC：S1350524110004 zhaohao@huayuanstock.com 王宇璇 SAC：S1350525050003 wangyuxuan@huayuanstock.com 国内农药价格有所分化，关注北交所农药行业领先企业颖泰生物 ——北交所消费服务产业跟踪第十八期（20250613） 投资要点： 请务必仔细阅读正文之后的评级说明和重要声明 源引金融活水润泽中华大地 内容目录 | 1. | 国内农药价格有所分化，静待价格走出周期低谷 | 4 | | --- | --- | --- | | 1.1. | 全球农药市场稳中有升，中国原药产量居世界前列 4 | | | 1.2. | 北交所企业：颖泰生物—位列国内农药销售百强榜前十 | 7 | | 2. | 总量：北交所消费服务股股价涨跌幅中值-1.81% | 11 | | 3. | 行业：泛消费产业市盈率 中值+16.93%至 TTM 78.5X | 13 | | 4. | 公告：锦波生物成为服贸基金二期的有限合伙人 ...

【SynBioCon】 获悉，近日，世界知识产权组织（WIPO）公布了 2025年全球奖30强名单 ，黄埔本 土企业 慕恩（广州）生物科技有限公司 （以下简称"慕恩生物"）凭借其在微生物资源开发与生物制造 领域的突破性成果成功入围。包括慕恩生物在内，本次共有6家中国企业入围30强，慕恩生物是唯一一 家广东企业。 据悉，WIPO全球奖自2022年设立，是目前 全球知识产权领域的最高奖项 ，旨在表彰企业在知识产权 布局、技术创新、社会价值创造上的卓越实力。今年，共有来自95个国家的780家企业参与竞争这一 知识产权领域"奥斯卡"，脱颖而出的慕恩生物成为该奖项设立以来，首家入围30强的黄埔企业。 建立全球最大商业菌种库，引领可持续农业发展 当前，新一轮科技革命和产业变革不断加剧，企业之间的竞争愈发成为知识产权的比拼。而每年评选一 次的WIPO全球奖，便主要关注 企业能否将知识产权转化为成功的商业运营、能否通过知识产权战略 实现业务增长、能否有助于实现联合国可持续发展目标 。 据WIPO中国微信公众号消息，本次入围30强的6家中国企业，分别是慕恩生物、上海邦邦机器人有限 公司、碳一新能源（杭州）有限责任公司、成都成华 ...

也是如实记录一下自己的观察所得，不作为推荐、建议，以及不作为任何有促进交易的意思和冲动。 首先，重点的医药和医疗方向，还在继续扩散，创新药板块上周刚刚突破160日横盘结构，成交量释放并没有出现过于暴躁的现象，RSR行业也跟随刚刚 翻红，最近两天开始的缓慢回调应该是个不错的切入时机，如下图： 通达信研究行业分类中创新药最集中的是其它生物制药细分类别，也拿出来佐证一下： 宠物饲料细分也出现了回调，尤其是中宠的阴线幅度和成交量都有点大，这块可能暂时要休息，但是值得引起注意的是猪饲料这块，带动的非常不错，买 猪猪不如买猪饲料：海大集团和邦基科技： 然后就顺带说一下农药细分，和饲料都属于农业链么。利民股份一马当先，已经进入加速区： 创新药方向的趋势锚应该是在科创板中，除了百济神州这种大块头之外，具有更强趋势特征的，我认为是：艾力斯和益方生物： 这个分类中的个股更加浓缩精华，板块指数的走势和量价舒展信号更加清晰明了，RSR翻红也更早，这种窄幅箱体+突破的阶梯式上升曾经使舞蹈演员尼 古拉斯达瓦斯成就交易传奇。 后面扩散过程中，我比较关注的个股是： 医药这块就讲这么多，应该全是精华。接下来说说日常消费，首饰分类周四出现超量反 ...

Core Viewpoint - The credit rating of Limin Holdings Group Co., Ltd. remains stable at AA, reflecting its strong market position in the pesticide industry and improved financial metrics since 2024 [4][5][9]. Company Overview - Limin Holdings is recognized as one of the key pesticide manufacturers in China, maintaining a high market share in the domestic raw material market with a diverse product structure and strong R&D capabilities [4][9]. - The company has seen a continuous increase in patent authorizations and product registrations, indicating robust innovation [4][15]. Financial Performance - Total assets for Limin Holdings were reported at 70.56 billion yuan in 2022, with total liabilities at 42.16 billion yuan, resulting in a debt-to-asset ratio of 59.75% [6][20]. - The company’s net profit improved significantly from 0.64 billion yuan in 2022 to 2.27 billion yuan in 2022, with a notable increase in operating revenue from 42.24 billion yuan to 50.16 billion yuan [6][17]. - EBITDA increased to 6.12 billion yuan, reflecting improved operational efficiency [7][17]. Market Position and Risks - The company has a strong market presence with a diverse product range, including fungicides, insecticides, herbicides, and veterinary drugs, and has expanded production capacity in recent years [10][11]. - However, the company faces challenges such as fluctuating raw material prices and the need to manage new production capacity effectively [5][9][10]. Investment and R&D - Limin Holdings has maintained a consistent investment in R&D, with expenditures amounting to 2.06 billion yuan in 2022, representing 4.12% of its operating revenue [15][16]. - The company has established multiple R&D platforms and has been collaborating with various biotech firms to develop new agricultural products [15][16]. Future Outlook - The credit outlook for Limin Holdings is stable, with potential for upgrades if capital strength and profitability significantly improve [5][9]. - The company is expected to continue benefiting from favorable market conditions and policy support in the agricultural sector, although it must remain vigilant regarding supply and demand dynamics [9][10].

龙虎榜机构热股 今天机构龙虎榜上榜25只个股，净买入14只，净卖出11只。当日机构买入最多的个股前三位是：青岛金 王（6192万）、凯美特气（4793万）、星徽股份（4517万） | 上榜热股 | | 实时涨跌幅 , 买/卖家数 , 机构净买额 , | | | --- | --- | --- | --- | | 青岛金王 002094.SZ | +10.02% | 1/2 | +6192.56万 | | 凯美特气 | | | | | 002549.SZ | +10.04% | 1/0 | +4793.37万 | | 3日 | | | | | 星徽股份 | +19.96% | 3/2 | +4517.37万 | | 300464.SZ | | | | 青岛金王 龙虎榜显示，今日1家机构净买入6192万。 公司的主营业务分为新材料蜡烛与香薰及工艺制品业务和化妆品业务等，公司众妆优选微信小程序里已 有跨境购。 一、农药 中旗股份 个股龙虎榜 公司主要产品为除草剂和杀虫剂产品 美邦股份 个股龙虎榜 公司主营农药制剂的研产销，主要产品为杀菌剂、杀虫剂等，产品品种规格丰富，拥有数百种杀虫剂农 药登记证 据央视新闻报道，5 ...