Core Viewpoint - The article discusses the rapid development and increasing importance of biopesticides and biostimulants in modern agriculture, driven by policy support and market demand for sustainable agricultural practices [3][4][7]. Group 1: Biopesticides and Biostimulants - The biopesticides and biostimulants industry is a crucial part of modern agricultural inputs, focusing on environmentally friendly products that enhance crop yield and quality through biological means [4][6]. - The transition from traditional chemical inputs to biological inputs is evident, with increasing application rates of biopesticides and biostimulants in pest control and soil remediation [4][6]. - The industry is evolving technologically, moving from natural strain selection to advanced techniques like genetic engineering and synthetic biology, significantly improving product performance [4][6]. Group 2: Policy Influence - International policies, such as the EU's organic agriculture subsidy, have positively impacted the biopesticides market, encouraging the adoption of organic farming practices [7][8]. - The EU's "Farm to Fork" strategy aims to reduce chemical pesticide use by 50% and fertilizer use by 20% by 2030, creating a larger market for biopesticides [8]. - In the U.S., the EPA's regulatory adjustments for biopesticides have simplified the registration process, enhancing market access for new products [8][9]. Group 3: Global Development Status - The global biopesticides market is rapidly expanding, with developed countries leading in research and product development [10]. - Brazil is highlighted as a leader in biopesticide application, with over 30 million hectares treated with biopesticides in 2023, reflecting a significant increase in usage [10]. - In China, the market for biopesticides and biostimulants is also growing, with a focus on addressing soil degradation and enhancing agricultural productivity [11][12]. Group 4: Capital Dynamics - The biopesticides sector has attracted significant attention in the capital markets, with several companies pursuing IPOs and mergers to enhance their market position [13][14]. - Notable companies like Fengbei Biotechnology and Guangxi Tianyuan are actively seeking funding to expand their biopesticide and fertilizer projects [13][14]. - The overall investment landscape in the biopesticides sector remains robust, driven by policy support and market demand [13][14].

Investment Rating - The report indicates a positive investment outlook for the biopesticide industry, highlighting its rapid growth and increasing market acceptance driven by policy support and technological advancements [4][8][12]. Core Insights - The biopesticide industry is becoming a crucial component of modern agricultural inputs, focusing on sustainable practices to enhance crop yield and quality through biotechnological products [4][6]. - Global trends show a shift from traditional chemical inputs to biobased alternatives, with increasing application rates of biopesticides and biofertilizers in pest control and soil remediation [4][6][11]. - Policy initiatives in both Europe and the United States are significantly boosting the biopesticide market, with the EU's "Farm to Fork" strategy aiming to reduce chemical pesticide use by 50% by 2030 [6][8]. Summary by Sections Industry Overview - The biopesticide sector encompasses biotechnologically based pesticides, fertilizers, biostimulants, and soil conditioners, focusing on environmentally friendly solutions [4]. - The industry is transitioning towards modern biotechnologies, including genetic engineering and synthetic biology, enhancing product performance and adaptability [4][9]. Policy Impact - EU organic agriculture subsidies and stringent pesticide regulations are fostering the growth of biopesticides, with organic farming area in Europe exceeding 18.5 million hectares by 2024 [5][6]. - In China, the Ministry of Agriculture has introduced rapid review channels for pesticide registration, aiming to increase the proportion of biopesticides to 30% by 2025 [8][11]. Market Dynamics - The global biopesticide market is experiencing rapid development, with significant advancements in research and product development in countries like the USA and Brazil [9][10]. - In Brazil, the area treated with biopesticides has surged, with usage rates for biopesticides and biofertilizers rising from 34% to 73% in two years [10]. Capital Market Activity - The biopesticide sector is attracting considerable attention in the capital markets, with multiple companies pursuing IPOs and mergers to enhance their market positions [12][13]. - Notable IPO activities include Fengbei Biological and Guangxi Tianyuan, indicating strong investor interest in biopesticide innovations [12].

Group 1 - The company held a half-year performance briefing on September 10, 2025, to communicate with investors about their concerns [2][3] - Key executives, including the chairman and general manager, participated in the briefing to address investor questions [2][3] Group 2 - The company is focusing on agricultural socialized services as a leading industry, with plans to establish a comprehensive agricultural service platform [3][4] - In 2025, the company aims to enhance cost control and overall gross margin through optimized agricultural practices and lean production management [3][4] - The performance of the forage industry in the first half of 2025 remained stable compared to the previous year, with plans to improve profitability through market monitoring and innovation [3][4] Group 3 - The company highlighted its achievements in cost reduction, quality improvement, and new industry cultivation during the first half of the year [3][4] - Future strategies include focusing on market-oriented development, optimizing industrial layout, and enhancing the entire agricultural value chain [4] Group 4 - The decline in performance during the first half of the year was attributed to lower prices for certain agricultural products and increased R&D and marketing expenses [3][4] - The company is actively working on water-saving irrigation projects and high-standard farmland construction through its subsidiary [3][4]

Group 1 - The event "Improving Quality and Efficiency to Strengthen Confidence, Seeking Progress in Stability to Promote Development" was successfully held on June 12, focusing on the 2025 investor reception day and the 2024 annual performance briefing for listed companies in Hubei [1] Group 2 - Fubon Technology (300387) discussed its integration of digital technology and biotechnology during the investor interaction, emphasizing its reliance on platforms like Kangxin Bio and Fubon Xiangyu, as well as research centers such as the National Bio-Pesticide Engineering Technology Research Center and China Agricultural University [3] - The company is focusing on a differentiated approach of "water-fertilizer-pesticide coupling + digital technology," actively launching new generation modern agricultural products including green and efficient microbial agents, bio-fertilizers, biological pesticides, and food additives [3] - Fubon Technology is also building a digital agriculture service model to provide customized solutions that meet customer needs, aiming to enhance agricultural production efficiency and sustainability [3]

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].

Group 1: Financial Performance - In 2024, the company's revenue reached 123,507.48 million, a year-on-year increase of 17.79% [15] - Domestic revenue grew by 19.21%, while overseas revenue was 56,175.68 million, up 16.13%, accounting for 45.48% of total revenue [15] - The net profit attributable to shareholders was 9,359.03 million, reflecting a 30.81% increase year-on-year [15] Group 2: Business Strategy and Market Expansion - The company aims to replace 50% of chemical nitrogen fertilizer with biological nitrogen fixation technology within 3-5 years [5] - Future strategies include enhancing the global integrated operation system for marketing, R&D, production, supply, and logistics [3] - The company plans to deepen its market presence in Asia, Europe, Africa, and the CIS regions, focusing on emerging markets and blank areas [6] Group 3: Product Development and Innovation - The company achieved a revenue of 90,247.01 million from its additive business in 2024, a 9.35% increase, driven by green transformation opportunities [3] - It is focusing on developing a complete chain from laboratory research to field demonstration in modern agriculture [2] - The company is committed to integrating digital and biological technologies to enhance agricultural productivity and sustainability [7] Group 4: Marketing and Customer Engagement - The "1+X" strategic marketing model will be implemented to optimize resource integration and channel development [5] - The company emphasizes customized, one-stop solutions for clients, enhancing customer satisfaction and long-term partnerships [5] - It will leverage digital agriculture services to improve market reach and brand influence [4] Group 5: Future Outlook and Challenges - The company anticipates short-term fluctuations in performance due to seasonal factors and raw material price changes [9] - It is committed to continuous innovation and adapting to agricultural policies like "zero growth of chemical fertilizers and pesticides" [12] - The company will explore strategic acquisitions to enhance its competitive edge and market position [10]

Group 1: Strategic Focus and Business Performance - The company has shifted its strategic focus to modern agriculture, achieving a revenue of 206.61 million yuan in 2024, a year-on-year increase of 169.05% [2][3] - The integration of "seed, fertilizer, and pesticide + biotechnology + digitalization" aims to create a comprehensive solution for cost reduction and yield increase [3][4] - The dual-core development strategy emphasizes "cost reduction and yield increase" alongside "green additives" to enhance agricultural productivity and sustainability [4][5] Group 2: Future Plans and Market Expansion - In 2025, the company plans to enhance its global integrated operation system, focusing on customer needs and optimizing product marketing strategies [6][7] - The company aims to deepen its market presence in Asia, Europe, Africa, and the CIS regions, with a focus on biological stimulants and nitrogen-fixing microorganisms [7][8] - The "going out" strategy will target Southeast Asia, the CIS, and Africa, leveraging core technological advantages in agricultural additives and digital applications [9][10] Group 3: Financial Performance and Challenges - The company experienced a decline in Q1 2025 revenue and cash flow due to early Spring Festival holidays and low fertilizer prices, which are considered short-term fluctuations [9] - Future growth points include upgrading agricultural additives and special fertilizers, focusing on green and multifunctional products [9][10] - The company aims to provide comprehensive services in soil testing, scientific planting planning, and integrated water and fertilizer management to enhance competitiveness in the global agricultural supply chain [10]

Group 1: Strategic Development Directions - In 2025, the company will focus on "technological innovation, green development, and social return," emphasizing three major development directions: upgrading agricultural additives and specialty fertilizers, promoting cost reduction and yield increase through integrated solutions, and deepening the "going out" strategy in Southeast Asia, the former CIS, and Africa [2][3]. - The company aims to enhance its competitiveness in the global agricultural supply chain by leveraging core technological advantages in agricultural additives, microbial agents, bio-fertilizers, and bio-pesticides, combined with digital technology applications [3]. Group 2: R&D Progress and Innovations - The company has increased investment in energy-saving and carbon-neutral additives, successfully testing new products such as cadmium and arsenic removal agents, and urea granulation agents, significantly enhancing market competitiveness [4]. - Ongoing collaborations with domestic and international partners are aimed at advancing research projects in calcium magnesium phosphate, TSP-MgO, and phosphoric acid purification [4]. Group 3: Market Potential and Growth - The agricultural additives and specialty fertilizers sector is experiencing a transformation, with the company developing more precise, green, efficient, and nutrient-rich products to meet diverse customer needs, aligning with the new development philosophy of "innovation, coordination, green, openness, and sharing" [5]. - The modern agriculture sector, particularly in biological and digital agriculture, is expected to grow rapidly, driven by the "New Round of 100 Billion Jin Grain Production Capacity Improvement Action Plan (2024-2030)" [5][6]. Group 4: Financial Performance - In 2024, the company achieved a revenue of 123,507.48 million yuan, a year-on-year increase of 17.79%. The agricultural additives business generated 90,247.01 million yuan (up 9.35%), while the modern agriculture business saw a significant increase of 169.05%, reaching 20,660.71 million yuan [7][8]. - The modern agriculture business has successfully established a full industry chain from "strain selection" to "formulation products," leveraging synergies in R&D and market resources [8]. Group 5: Impact of International Trade Environment - Recent tariff changes have had a minimal impact on the company's operations, as its overseas markets are primarily in Europe, Asia, and Africa, and it does not engage in direct trade with the U.S. [9]. - The company has managed to stabilize raw material costs through long-term procurement contracts and inventory management strategies, mitigating the effects of price fluctuations [9]. Group 6: Market Opportunities in Nitrogen Fixation and Pest Control - The global bio-nitrogen fixation market is projected to reach $2.8 billion by 2028, with a growth rate of 10.90% from 2021 to 2028. The domestic market potential is estimated at approximately 28.935 billion yuan based on current agricultural land and pricing [10]. - The biopesticide market is expected to grow to 33.09 billion yuan by 2027, with an annual compound growth rate of 17.1%, indicating significant opportunities in pest control products [11].

Core Viewpoint - Fubon Technology reported a strong performance in 2024, achieving a revenue of 1.235 billion yuan, a year-on-year increase of 17.79%, and a net profit of 93.59 million yuan, up 30.81% from the previous year [1][3][5] Financial Performance - The company achieved a total revenue of 123,507.48 million yuan in 2024, with domestic revenue at 67,331.80 million yuan (up 19.21%) and international revenue at 56,175.68 million yuan (up 16.13%) [1][3] - The net profit attributable to shareholders was 9,359.03 million yuan, with a basic earnings per share of 0.32 yuan, reflecting a 28.00% increase year-on-year [1][3] Business Strategy - The company has shifted its focus to a dual-driven strategy of "biotechnology and digital technology," aiming to enhance its core competitiveness in modern agriculture [1][3] - The name change from "Fubon Shares" to "Fubon Technology" signifies a strategic adjustment towards modern agricultural technology [1][3] Market Position and Growth - Fubon Technology is positioned as a leading enterprise in the global fertilizer additive and fertilizer industry, with a comprehensive product line and strong R&D capabilities [1][3] - The modern agriculture sector, particularly in biological agriculture and digital agriculture, is identified as a key growth area, with significant market potential [3][5] Digital Agriculture Development - The company is developing a digital agriculture service model that includes soil testing, scientific planting planning, and online management, aiming to enhance agricultural productivity and efficiency [2][3] - The digital agriculture sector is expected to grow rapidly, driven by the integration of information technology and agriculture [2][3] R&D and Innovation - In 2024, the company invested 46.85 million yuan in R&D, focusing on energy-saving and carbon-neutral additives, and has a strong team of 169 R&D personnel [7][3] - New products such as phosphorus cadmium removal agents and urea granulation agents have been successfully developed, enhancing market competitiveness [7][3] Future Outlook - The company plans to continue expanding its market presence in Southeast Asia, the former CIS countries, and Africa, leveraging its core technology advantages in agricultural additives and biological products [5][3] - The focus will remain on integrating resources and creating value in the modern agricultural ecosystem through a comprehensive solution model combining seeds, fertilizers, and digital technology [3][5]

Group 1: Company Overview and Strategic Focus - The company focuses on "water-fertilizer-pesticide coupling + digital technology" to enhance service efficiency and customer satisfaction, aiming for a comprehensive solution to reduce costs and increase production [2][3] - The company has two main business segments: agrochemical additives and special fertilizers, and modern agriculture, aligning with the green and efficient development of agriculture [4][5] Group 2: Financial Performance - In Q1 2025, the company reported a revenue of 305 million CNY, a decrease of 3.44% year-on-year, and a net profit of 23.12 million CNY, down 11.75% [6][7] - For the year 2024, the company achieved a total revenue of 1.235 billion CNY, an increase of 17.79% year-on-year, with agrochemical additives generating 902.47 million CNY (up 9.35%) and modern agriculture contributing 206.61 million CNY (up 169.05%) [7][8] Group 3: Research and Development - The company is investing in the development of energy-saving and carbon-neutral additives, successfully launching new products such as cadmium and arsenic removal agents [3][4] - The focus on modern agriculture includes biotechnological advancements and digital agriculture, aiming to create a comprehensive ecosystem for sustainable agricultural practices [4][9] Group 4: Market Strategy and Expansion - The company plans to deepen its market presence in Southeast Asia, the former CIS region, and Africa, leveraging its core technology advantages in agrochemical additives and digital agriculture [5][10] - The company is pursuing an external growth strategy through mergers and acquisitions, targeting firms with advanced R&D capabilities and production facilities [8][10] Group 5: Challenges and Future Outlook - The company anticipates that the recent decline in Q1 performance is a short-term fluctuation, expecting gradual improvement as strategic adjustments take effect [6][7] - The company emphasizes its commitment to high-quality development and enhancing shareholder returns through market expansion and technological innovation [11]