农药创制药更新20260227 事项：今日扬农化工的氟螨双醚（1631）、江山股份的苯嘧草唑（205）均获得国内原药、制剂登记。 氟螨双醚：属于型三氟乙硫醚类杀螨剂，主要用于柑橘、苹果、蔬菜等作物，防治红蜘蛛、二斑叶螨、朱砂叶螨 等害螨，与海利尔的氟螨硫醚、农心科技的吲哚螨砜为竞品。 苯嘧草唑：相关文献报道除草效果全方位优于竞品巴斯夫的苯嘧磺草胺（年销售峰值3亿欧元，原药50-60万/ 吨），公司公告称苯嘧草唑含税价90万元/吨，将以原药、10%单剂，30%草甘膦·1%苯嘧草唑复配制剂3种形式销 售，一期500吨/年原药产能达产后预计年净利润2.45亿元（单吨49万），远期规划产能2000吨/年。 农药创制药更新20260227 事项：今日扬农化工的氟螨双醚（1631）、江山股份的苯嘧草唑（205）均获得国内原药、制剂登记。 氟螨双醚：属于型三氟乙硫醚类杀螨剂，主要用于柑橘、苹果、蔬菜等作物，防治红蜘蛛、二斑叶螨、朱砂叶螨 等害螨，与海利尔的氟螨硫醚、农心科技的吲哚螨砜为竞品。 苯嘧草唑：相关文献报道除草效果全方位优于竞品巴斯夫的苯嘧磺草胺（年销售峰值3亿欧元，原药50-60万/ 吨），公司公告称苯嘧草唑含税 ...

农药创制药更新20260227 事项：今日扬农化工的氟螨双醚（1631）、江山股份的苯嘧草唑（205）均获得国内原药、制剂登记。 事项：今日扬农化工的氟螨双醚（1631）、江山股份的苯嘧草唑（205）均获得国内原药、制剂登记。 氟螨双醚：属于型三氟乙硫醚类杀螨剂，主要用于柑橘、苹果、蔬菜等作物，防治红蜘蛛、二斑叶螨、朱砂叶螨 等害螨，与海利尔的氟螨硫醚、农心科技的吲哚螨砜为竞品。 苯嘧草唑：相关文献报道除草效果全方位优于竞品巴斯夫的苯嘧磺草胺（年销售峰值3亿欧元，原药50-60万/ 吨），公司公告称苯嘧草唑含税价90万元/吨，将以原药、10%单剂，30%草甘膦·1%苯嘧草唑复配制剂3种形式销 售，一期500吨/年原药产能达产后预计年净利润2.45亿元（单吨49万），远期规划产能2000吨/年。 氟螨双醚：属于型三氟乙硫醚类杀螨剂，主要用于柑橘、苹果、蔬菜等作物，防治红蜘蛛、二斑叶螨、朱砂叶螨 等害螨，与海利尔的氟螨硫醚、农心科技的吲哚螨砜为竞品。 苯嘧草唑：相关文献报道除草效果全方位优于竞品巴斯夫的苯嘧磺草胺（年销售峰值 农药创制药更新20260227 ...

Core Viewpoint - The company held a performance briefing on December 11, 2025, to discuss its operational performance and profit distribution with investors, addressing key concerns raised during the session [1]. Group 1: Company Performance and Projects - The Hengning project is expected to achieve breakeven as the second phase is put into production, with improved operational conditions anticipated [2]. - The company's total production capacity is 111,200 tons, with 32,700 tons for active ingredients and 78,500 tons for formulations [3]. - The company reported a significant increase in sales expenses in Q3, attributed to the full-chain plant protection services provided to various crops [3]. - The decline in profit reported in the Q3 financials was due to maintenance activities at the active ingredient factory, leading to increased management costs [4]. Group 2: Market Outlook and Innovations - The company anticipates stable prices in the pesticide market for Q1 of the following year [5]. - The second phase of the Hengning project has begun trial production of several products, with plans for further investment to enhance product structure and competitiveness [7]. - AI technology is being explored for drug development and production efficiency, although specific quantitative data on its impact is not yet available [8]. Group 3: Product Lines and Agricultural Support - The core product lines include organic water-soluble fertilizers, macro-element water-soluble fertilizers, and microbial fertilizers, with various application methods tailored to different crops [9][10]. - The company is actively involved in rural revitalization efforts, providing technical services and customized agricultural solutions to enhance crop yields and farmer incomes [13]. - The company has established a comprehensive supply chain service model to support farmers, addressing challenges in agricultural production and logistics [14].