Group 1 - The eighth China Farmers' Harvest Festival was celebrated on September 23, focusing on "Celebrating Agricultural Harvest and Enjoying a Better Life" [1] - Various oil and chemical companies have strengthened the production and supply of agricultural materials such as fertilizers, pesticides, and agricultural films to ensure market stability and support crop yield [1] - Shandong Hualu Hengsheng Chemical Co., Ltd. adjusted its production structure to increase the output of fertilizers like urea and ammonium sulfate to meet local agricultural needs [1] Group 2 - Hubei Xiangyun (Group) Chemical Co., Ltd. launched innovative fertilizers, including astaxanthin-based fertilizers that can enhance saline-alkali land productivity by 30% [2] - Jinzhengda promotes green and efficient fertilizers, developing over 600 crop-specific solutions for various crops [2] - Xinlianxin Group focuses on developing high-efficiency products, achieving a fertilizer utilization rate of over 43.8% compared to the 35% of ordinary urea [2] Group 3 - Luxi Group increased the variety of fertilizers produced to meet the diverse needs of different crops and regions, supporting the development of high-efficiency fertilizers [3] - Hubei Yihua is committed to ensuring sufficient supply and stable prices of fertilizers while innovating products to meet diverse agricultural needs [3] - Limin Co. and Tianhe Co. launched a "Rice Flying Defense Plan" to combat common rice pests and diseases, ensuring healthy crop growth [3] Group 4 - China Coal Ordos Energy Chemical Co., Ltd. provided 2,500 tons of affordable fertilizers to support farmers during the critical agricultural production period [4] - Jinneng Holding Group adjusted its product structure to ensure stable and sufficient fertilizer supply during the harvest season [4] - Yuntianhua adheres to a management philosophy that ensures production facilities operate at full capacity during key agricultural periods [5] Group 5 - Tianye Group enhances modern agricultural technology, focusing on water-saving agriculture and improving crop yields through innovative techniques [5] - Zhushang Fertilizer (China) Group offers comprehensive services from soil testing to planting guidance, helping farmers optimize fertilizer use [5] - The company has developed various brands of fertilizers that improve soil quality and enhance crop resistance, benefiting millions of farmers [5]

Core Viewpoint - The company has decided to cancel its supervisory board and amend its articles of association due to the disqualification of six incentive targets from the 2021 restricted stock incentive plan, leading to the repurchase and cancellation of 20,000 unvested restricted shares [1]. Group 1 - The company held its eighth meeting of the fifth board of directors on April 28, 2025, where the proposal to cancel the supervisory board was approved [1]. - The total share capital of the company will decrease from 339,898,336 shares to 339,878,336 shares, and the registered capital will change from 339,898,336 yuan to 339,878,336 yuan [1]. - The company has completed the business registration change and obtained a new business license from the Qingdao Administrative Approval Service Bureau [1]. Group 2 - The company is classified as a listed other joint-stock company, with its registered address in the Chengdong Industrial Park, Chengyang District, Qingdao [1]. - The company was established on December 1, 1999, and its business scope includes the production and sale of water-soluble fertilizers and pesticides, as well as various other services related to agriculture and technology [1].

Core Viewpoint - The chemical industry is positioned as a "carbon path pioneer" in the context of the "dual carbon" goals, emphasizing the importance of carbon reduction for future survival and green transformation [1]. Group 1: Technological Innovation - The first strategy involves technological transformation, which is the most direct approach to emissions reduction. Companies should establish special funds to systematically address high energy consumption areas and focus on key sectors [1]. - New Yangfeng has implemented advanced process control digital transformation in its ammonia production line, achieving a balance rate of 99% and reducing coal consumption per ton of steam by 2.17%, resulting in an annual benefit of 9 million yuan [1]. - The sulfuric acid production line has adopted "zero manual" automatic control technology, which reduces energy waste and improves production efficiency through real-time monitoring and optimization [1]. Group 2: Resource Recycling - The second strategy focuses on resource recycling, which is essential for deep emissions reduction. This requires breaking traditional path dependencies and examining the entire industrial chain from raw materials to end products [2]. - New Yangfeng has deployed large-scale rooftop photovoltaic projects, generating 16.54 million kWh annually, and has utilized waste heat for power generation, achieving an annual output of 216 million kWh and reducing carbon emissions by approximately 110,000 tons [2]. - The company has invested over 1 billion yuan in the resource utilization of waste gypsum from the phosphorus chemical production process, now achieving an annual capacity of over 7 million tons for gypsum recycling [2]. - New Yangfeng is actively developing and promoting high-end low-carbon products that align with national advocacy and market demand, including specialized compound fertilizers and organic fertilizers to help farmers increase yields and income [2]. Group 3: Equipment Replacement - The third strategy involves the elimination of high-energy-consuming equipment, which is a hidden "carbon tiger." Companies should develop a tiered replacement plan, conduct comprehensive inspections, and establish a list of high-energy-consuming equipment [1]. - It is essential to set replacement thresholds and actively purchase equipment that meets national first-level or leading efficiency standards [1]. Conclusion - Successfully becoming a "carbon path pioneer" requires integrating the determination for technological transformation, the ambition for resource recycling, and the resolve to eliminate outdated practices, enabling the industry to navigate the wave of green transformation and achieve high-quality low-carbon development [1].

Group 1 - Shandong Agricultural University Fertilizer Technology Co., Ltd. (referred to as "Agricultural Technology") has completed the first round of inquiry letter responses, addressing 11 questions related to "business and technology," "reasonableness of performance changes," "reasonableness of large inventory," and "use of raised funds" [2] - Agricultural Technology's production capacity utilization rates for 2022 to 2024 are projected to be 65.14%, 68.72%, and 56.63%, respectively, indicating a year-on-year decline of 17.59% in 2024 [5] - The company plans to raise 552 million yuan through its IPO, which will be used for various projects, including a 300,000-ton annual production project for humic acid intelligent high tower compound fertilizer and a 150,000-ton annual production line for biological fertilizers [4] Group 2 - Agricultural Technology's main products include humic acid-enhanced fertilizers, controlled-release fertilizers, and water-soluble fertilizers, with its coated urea production and sales ranking first in the industry and humic acid compound fertilizers ranking second [4] - The inquiry letter highlights concerns regarding the reasonableness of Agricultural Technology's fundraising for capacity expansion, given its insufficient capacity utilization [2][5] - The overall fertilizer industry has experienced significant idle capacity, with average capacity utilization rates for listed companies in the sector being 47.07%, 52.78%, and 46.50% from 2022 to 2024 [5]