本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 证券代码：600486 证券简称：扬农化工 编号：临 2025-040 江苏扬农化工股份有限公司 2025 年第三季度主要经营数据公告 （二）主要原材料价格波动情况 | | 2025 年 1-9 月 | 2024 年 1-9 月 | | | --- | --- | --- | --- | | | 平均采购价格 （元/吨） | 平均采购价格 （元/吨） | 价格变动情况 | | 液碱 | 2,617 | 2,271 | 15.3% | | 液钾 | 2,875 | 2,740 | 4.9% | | 碳酸钾 | 6,121 | 5,904 | 3.7% | | 氢溴酸 | 12,551 | 10,075 | 24.6% | | 异戊二烯 | 9,849 | 8,478 | 16.2% | | 一氯甲烷 | 2,073 | 1,875 | 10.6% | 1 | | 2025 年 1-9 月 | 2024 年 1-9 月 | | | --- | --- | --- | --- | | ...

Core Viewpoint - The company expects a significant increase in net profit for the first three quarters, driven by higher demand for its main products, potassium carbonate and veterinary raw materials, resulting in increased sales and prices [1] Financial Performance - The net profit attributable to shareholders is projected to be between 74 million and 90 million yuan, representing a year-on-year growth of 44.35% to 75.56% [1] - The net profit after deducting non-recurring gains and losses is expected to be between 67 million and 82 million yuan, indicating a year-on-year increase of 39.04% to 70.17% [1] Market Influence - The increase in net profit is primarily attributed to market influences that have boosted the demand for the company's main products [1] - Both sales volume and prices have risen compared to the same period last year, contributing to an increase in gross profit margin [1]

Core Viewpoint - The company, Dayang Bio (003017.SZ), anticipates a significant increase in net profit for the first three quarters of 2025, driven by rising demand for its main products, potassium carbonate and veterinary raw materials [1] Financial Performance - The company expects net profit attributable to shareholders to be between 74 million and 90 million yuan, representing a year-on-year growth of 44.35% to 75.56% [1] - The net profit after deducting non-recurring gains and losses is projected to be between 67 million and 82 million yuan, indicating a year-on-year increase of 39.04% to 70.17% [1] Market Influence - The increase in net profit is primarily attributed to market influences that have boosted the demand for the company's main products [1] - Both sales volume and prices of potassium carbonate and veterinary raw materials have risen compared to the same period last year, contributing to the improved gross margin [1]

Core Viewpoint - The company, Dayang Bio (003017.SZ), anticipates a significant increase in net profit for the first three quarters of 2025, driven by rising demand for its main products, potassium carbonate and veterinary raw materials [1] Financial Performance - The company expects net profit attributable to shareholders to be between 74 million and 90 million yuan, representing a year-on-year growth of 44.35% to 75.56% [1] - The net profit after deducting non-recurring gains and losses is projected to be between 67 million and 82 million yuan, indicating a year-on-year increase of 39.04% to 70.17% [1] Market Factors - The increase in net profit is primarily attributed to market influences that have boosted the demand for the company's main products [1] - Both sales volume and prices of potassium carbonate and veterinary raw materials have risen compared to the same period last year, contributing to the improved gross margin [1]

Core Viewpoint - The company, Dayang Biological (003017.SZ), expects a significant increase in net profit for the first three quarters, driven by rising demand for its main products, potassium carbonate and veterinary raw materials, due to market influences [1] Financial Performance - The net profit attributable to shareholders is projected to be between 74 million and 90 million yuan, representing a year-on-year growth of 44.35% to 75.56% [1] - The net profit after deducting non-recurring gains and losses is expected to be between 67 million and 82 million yuan, indicating a growth of 39.04% to 70.17% compared to the same period last year [1] Market Dynamics - The increase in net profit is attributed to higher sales volumes and prices of the company's main products, along with an improvement in gross profit margins [1]

Core Viewpoint - The company expects a significant increase in net profit attributable to shareholders for the first three quarters, driven by market demand for its main products, potassium carbonate and veterinary raw materials [1] Financial Performance - The projected net profit for the first three quarters is between 74 million and 90 million yuan, representing a year-on-year growth of 44.35% to 75.56% [1] - The increase in performance is attributed to higher sales volumes and prices compared to the same period last year, along with an improvement in gross profit margin [1]

Core Insights - The company expects a net profit of 74 million yuan for the first three quarters of 2025, representing a growth of 44.35% to 75.56% compared to the same period last year [1] Group 1: Financial Performance - The projected net profit for the first three quarters of 2025 is 74 million yuan, an increase from 51.2658 million yuan in the same period last year [1] - The growth rate of net profit is estimated to be between 44.35% and 75.56% [1] Group 2: Product Demand and Pricing - There has been an increase in demand for the main products, potassium carbonate and veterinary raw materials [1] - Both sales volume and prices have risen during the reporting period [1] - The gross profit margin has improved [1]

Group 1: Potassium Carbonate and Bicarbonate Industry - Potassium carbonate is a key raw material in various industries including chemicals, pharmaceuticals, pesticides, light industry, and food [1] - The company is a leading player in the potassium carbonate and bicarbonate industry, recognized as a national high-tech enterprise and a "little giant" enterprise [1] - The production of potassium bicarbonate is increasingly utilized in food as an acidity regulator and chemical leavening agent, with growing consumption driven by health awareness [1] Group 2: Amprolium Hydrochloride Application - Amprolium hydrochloride is primarily used in poultry, cattle, and sheep, with increasing demand due to rising per capita consumption of poultry meat and the solidification of large-scale farming practices [2] - The company's clean production project for amprolium hydrochloride has been recognized as a "National Torch Program Industrialization Demonstration Project" [2] - The production process incorporates resin adsorption and distillation to address wastewater treatment challenges, showcasing significant environmental advantages [2] Group 3: Fluorochemical Industry Potential - The fluorochemical sector, including fluorinated intermediates, pharmaceuticals, pesticides, dyes, and surfactants, has substantial development potential [3] - The company has over 30 years of experience in fluorochemical production, being a major supplier of 2-chloro-6-fluoro series products in both domestic and international markets [3] - The company possesses pilot technology for PEEK intermediates, which have excellent comprehensive performance [3]

Core Insights - The company achieved double-digit growth in both revenue and net profit during the first half of 2025, despite a challenging global economic environment and fluctuations in raw material prices [1][2] - The "one body, two wings" industrial structure has proven effective, with significant contributions from various business segments [2][3] Financial Performance - The company reported a revenue of 499 million yuan, representing a year-on-year increase of 14.20% [1] - Net profit attributable to shareholders reached 50.51 million yuan, up 60.66% year-on-year, with a net profit margin improvement [1] - The net profit after deducting non-recurring gains and losses was 46.76 million yuan, reflecting a growth rate of 60.74% [1] Business Operations - The inorganic salt product segment (potassium carbonate/potassium bicarbonate) generated 349 million yuan in revenue, a year-on-year increase of 11.48%, with a gross margin of 20.42% [2] - The veterinary raw material drug segment, particularly the hydrochloride of amprolium, saw revenue of 91.62 million yuan, a significant increase of 66.56% [2] - The fluorine-containing fine chemicals segment experienced a revenue decline of 5.25% to 37.24 million yuan, although gross margin improved to 24.83% [2] Research and Development - The company holds 51 valid invention patents and 21 utility model patents, and has participated in drafting multiple national and industry standards [3] - The company has developed an ion exchange closed-loop system that achieves zero discharge of ammonia nitrogen wastewater, establishing a competitive edge in environmental protection [3] Future Outlook - The company plans to continue focusing on high value-added product development and market expansion domestically, while enhancing its competitive advantages in international markets [3] - Ongoing projects and technological innovations are expected to support revenue growth in the inorganic salt, veterinary raw materials, and fluorine-containing fine chemicals sectors [3]

Group 1 - The company disclosed its main operating data for the first half of 2025, including production, sales, and revenue figures for its key products [1] - The production volume for raw materials was 57,751.21 tons, with sales of 56,707.28 tons, generating a revenue of 365,520.49 million yuan [1] - The production volume for formulations was 25,456.62 tons, with sales of 28,106.62 tons, resulting in a revenue of 117,053.34 million yuan [1] Group 2 - The average selling price for raw materials decreased by 3.04% to 6.45 million yuan per ton, while the average selling price for formulations decreased by 2.89% to 4.16 million yuan per ton [1] - The average procurement price for liquid caustic soda increased by 24.3% to 2,674 yuan per ton, and for hydrogen bromide, it increased by 23.8% to 12,300 yuan per ton [1] - Other raw materials showed varying price changes, with formaldehyde decreasing by 0.4% and acetic acid decreasing by 18.3% [1]