中证报中证网讯(记者孟培嘉)苏垦农发（601952）8月20日披露的2025年半年度报告显示，公司上半年 实现营业收入45.88亿元，归母净利润为2.13亿元。苏垦农发表示，公司将凝心聚力、主动作为，聚 焦"一核双擎"核心路径，精耕主业，创新赋能，切实履行粮食安全职责，全力冲刺年度目标。 苏垦农发同日披露的2025年半年度利润分配方案显示，公司拟进行中期分红，分红金额为8268万元(含 税)，占2025年半年度归母净利润比例为38.78%。 各环节业务稳中有进 苏垦农发提出打造"一核引领、双擎驱动"现代农业航母的战略目标，其中"一核引领"即以现代农业核心 产业为引领，"双擎驱动"即打造科技创新和资本运作"双引擎"。围绕这一目标，公司持续构建核心竞争 力，巩固行业领先地位。 从产业链协同来看，苏垦农发基本建立纵向一体化管控和全产业链协同发展的经营管理模式。通过对种 植布局、资源整合和市场拓展的一体化运作，降低内部沟通成本，实现工作协同上的节本增效。通过下 属龙头企业进行专业化分工经营，构建"龙头企业+基地+市场"的全产业链农业产业化经营模式。 耕地及耕种资源方面，苏垦农发通过一系列协议安排获得了优质耕地资源，土 ...

8月20日晚间，苏垦农发（601952）发布半年报，报告期内公司实现营业收入45.88亿元，实现归属于上 市公司股东的净利润2.13亿元。其中，第二季度实现营收24.55亿元，环比增长15.10%；归母净利润1.31 亿元，环比增长58.94%。 半年报还显示，公司的主要产品在长三角尤其是江苏省内的市场占有率较高。其中，大华种业常规稻麦 种在江苏省的市场优势显著。报告期内，根据全国种子双交会公布的"2023年度中国农作物种业企业商 品种子销售排名"，大华种业小麦、常规水稻商品种子销售总额分别位居全国第一、全国第二，商品种 子销售总额位居全国第六。 当前，智慧农业备受市场关注。报告期内，公司积极推广智慧农业场景应用，开展农情监测系统实时监 测、校准与统计分析应用工作。组织各分公司进行无人值守巡田系统培训，普及巡田智能装备，推 广"多光谱无人机+变量施肥植保"应用场景。同时，公司搭建科研平台载体，牵头申报南京市智慧农业 应用创新联合体，联合南京农业大学、农业农村部南京农机化所等6家单位，形成"科研-中试-产业 化"全链条创新体系。 此外，公司以自营种植需求为支撑，形成规模化农资采购优势，经营以农资贸易为核心的农业 ...

Group 1: Acquisition Details - Su Kuan Agricultural Development plans to acquire a 28.75% stake in Jin Tai Yang Grain and Oil for 178 million yuan, increasing its ownership from 51.25% to 80% [2] - The acquisition price is based on an assessment value of 619 million yuan for Jin Tai Yang, with a price per share of 9.32 yuan, adjusted to 7.72 yuan after excluding dividends [2] - The acquisition aims to optimize resource allocation, improve operational decision-making efficiency, and reduce management costs [2] Group 2: Financial Performance of Jin Tai Yang - Jin Tai Yang's net profit declined by 16.95% in 2022 to 74.94 million yuan and further dropped by 92.79% in 2023 to 5.40 million yuan [3] - The company's gross margin fell from over 8% before 2021 to 2.63% in 2023, indicating significant profitability challenges [3] - Although a recovery in net profit is expected in 2024, with an increase of 787.27% to 47.94 million yuan, the gross margin remains low at 5.24% [3] Group 3: Industry Context - The edible oil industry is highly competitive, facing pressure from rising raw material costs and stagnant consumer demand, leading to declining profitability across the sector [4] - Major players like Jin Long Yu are also experiencing profit declines, reflecting broader industry challenges [4] - Su Kuan Agricultural Development's revenue from edible oil dropped from 3.254 billion yuan in 2022 to 2.168 billion yuan in 2024, with gross margins decreasing from 9% in 2020 to 2.22% in 2023 [4] Group 4: Su Kuan Agricultural Development's Performance - Su Kuan Agricultural Development's revenue fell from 12.727 billion yuan in 2022 to 10.917 billion yuan in 2024, with net profit decreasing from 826 million yuan to 730 million yuan [7] - The decline is attributed to a continuous drop in agricultural product prices, with wheat prices falling from 3,305 yuan per ton in April 2022 to 2,395 yuan per ton by January 2025 [7] - The company is facing rising costs in land transfer and agricultural inputs, which are squeezing profit margins [7] Group 5: Strategic Measures - To counteract declining performance, Su Kuan Agricultural Development is expanding its self-operated farmland, reaching 1.364 million mu by the fall of 2024 [8] - The company is also extending its industrial chain, including the acquisition of Jin Tai Yang, as part of its strategy to improve profitability [8] - The future performance of Su Kuan Agricultural Development hinges on the recovery of grain prices, which remains uncertain [8]