本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 一、公开发行可转换公司债券募集资金基本情况 2018年10月16日，经中国证券监督管理委员会证监许可 [2018]1619号文核准，湖北凯龙化工集团股份有 限公司（以下简称"公司"）于2018年12月27日向社会公众公开发行面值 328,854,800.00元的可转换公司 债券，本次可转换公司债券每张票面金额为100.00元，按面值平价发行，募集资金总额为人民币 328,854,800.00元，扣除保荐及承销费、审计及验资费、律师费等发行费用合计人民币17,766,873.09元 后，实际募集资金净额为 311,087,926.91元。上述资金已于2018年12月27日全部到位，并经中审众环会 计师事务所(特殊普通合伙)于2018年12月28日出具的"众环验字(2018)010098号"《验资报告》审验。 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002783 证券简称：凯龙股份 公告编号：2026－012 湖北凯龙化工集团股份有限公司 关于注销部分募集资金专项账户的公告 为了规范募集资金的管理 ...

证券日报网讯 2月26日，凯龙股份发布公告称，截至本公告日，公司及控股子公司湖北凯龙楚兴化工集 团有限公司（项目实施主体）已办理该"40万吨/年水溶性硝基肥和20万吨/年缓控释肥生产线建设项 目"募集资金专户的注销手续。该专户注销后，公司与保荐机构长江证券承销保荐有限公司以及中国工 商银行股份有限公司荆门东宝支行共同签订的《募集资金三方监管协议》随之终止。 （编辑 袁冠琳） ...

Core Insights - The company, Maoshi Agricultural Technology Co., Ltd., has developed advanced controlled-release fertilizer technology over 20 years, focusing on high-quality production and cost management [2][4][6] - The company emphasizes a philosophy of "slow is fast," prioritizing meticulous research and development to enhance product quality and efficiency [8][20][22] - Maoshi's innovations have led to significant reductions in production costs and improvements in fertilizer effectiveness, benefiting farmers and the environment [9][23][27] Technology Development - Maoshi has successfully created a new type of solvent-free, biodegradable ultra-thin biological polyurethane controlled-release fertilizer technology, reducing coating costs significantly [6][20] - The company operates the largest coating urea production line in Asia, achieving a coating rate of 2% and a nitrogen content of 45.3% [6][20] - In 2022, the company invested over 55.8 million yuan in research and development, collaborating with several agricultural universities and research institutions [8][22] Management Practices - Maoshi implements a comprehensive cost revolution, focusing on reducing coating rates while maintaining quality, which is described as "dancing on a tightrope" [9][23] - The company has adopted a full digital transformation, utilizing a Just-In-Time (JIT) production model to achieve zero inventory and enhance operational efficiency [9][23] - The transition from "selling products" to "selling solutions" reflects the company's commitment to improving agricultural management practices [11][25] Impact on Farmers - Maoshi's fertilizers have reportedly increased crop yields significantly, with examples showing a 5.8% yield increase in corn and a 17.4% increase in rice when using their products [11][25] - The company's technology allows for a reduction in nitrogen fertilizer usage by 20% to 30%, contributing to a decrease in chemical fertilizer loss by over 400,000 tons annually [27] - The overall impact of Maoshi's products is estimated to generate an additional 10 billion yuan in income for farmers each year [27]

Group 1 - The Central Document No. 1 emphasizes the importance of strengthening arable land protection and quality improvement, promoting the comprehensive utilization of saline-alkali land and the management of acidified arable land, indicating a shift towards new environmentally friendly agricultural products such as slow-release fertilizers, water-soluble fertilizers, and microbial agents [1][4] - Companies like Sichuan Jinxiang Sairui Chemical Co., Ltd. are focusing on green agriculture, aiming to establish the largest agricultural microbial production base in Southwest China, with a total investment of 204 million yuan and a 322 cubic meter bioreactor [2] - Guizhou Phosphate Agricultural Materials Company is concentrating on efficient utilization of phosphorus resources and product matrix layout, aiming to upgrade traditional phosphorus fertilizers and explore new functional products based on phosphorus [2] Group 2 - Henan Jinkai Group Yanhu Chemical Co., Ltd. aligns its development philosophy with the Central Document's focus on transitioning from quantity assurance to quality enhancement in the agricultural input industry, optimizing production processes to create high-quality, environmentally friendly urea products [3] - The document also calls for enhancing agricultural technology innovation and integrating AI with agriculture, which companies are responding to by innovating agricultural technology services and improving farmer education through various methods [4][5] - Future agricultural service work is expected to build a green intelligent service system, leveraging digital technologies to optimize cost efficiency and enhance operational effectiveness, with a goal of integrating industrial development concepts into the agricultural sector [5]

Core Viewpoint - The chemical industry is at a critical stage of quality improvement and green transformation, driven by tightening arable land resources and the emphasis on green development, as outlined in the "Petrochemical Industry Steady Growth Work Plan (2025-2026)" [1] Group 1: Technological Innovation - The industry faces challenges such as low fertilizer utilization, soil degradation, and rising crop quality demands, necessitating technological innovation for fertilizer product upgrades [2] - The company aligns with the plan by focusing on technological innovation as a core driver, enhancing its R&D system and converting research results into market competitiveness [2] - Future R&D will focus on specialized fertilizers, controlled-release fertilizers, organic fertilizers, and water-soluble fertilizers, aiming to establish a green product system centered on functional fertilizers [2] Group 2: Digital Transformation - Digital transformation is identified as a key engine for improving quality and efficiency in the chemical industry [3] - The company is accelerating its digital upgrade, achieving significant results in production intelligence, with self-control rates exceeding 99% and stable operation rates also above 99% in its first digital transformation pilot [3] - The company plans to enhance its digital agriculture platform to provide data-driven fertilization and planting decisions for farmers, transitioning from "selling fertilizers" to "selling solutions" [3] Group 3: Sustainable Development - The plan encourages companies to promote the reduction, harmless treatment, and comprehensive utilization of solid waste, presenting an opportunity for industrial structure reshaping [4] - The company is advancing comprehensive utilization projects for by-products like phosphogypsum, establishing a closed-loop management system for resources, energy, products, and the environment [4] - The company has successfully implemented a phosphogypsum resource safety disposal project, demonstrating a replicable model for solid waste management [4] Group 4: Corporate Social Responsibility - The company is committed to strengthening its environmental management system, focusing on energy conservation and emission reduction, while actively participating in rural revitalization and ecological protection initiatives [5] - The company aims to implement the plan's requirements throughout its development lifecycle, ensuring continuous technological breakthroughs and green practices to support national food security strategies [5]

Core Viewpoint - The stock of Jinzhengdai has shown fluctuations in recent trading sessions, with a slight increase on January 19, 2023, and a mixed performance over the past 60 days [1] Group 1: Stock Performance - On January 19, Jinzhengdai's stock rose by 2.30%, reaching 1.78 CNY per share, with a trading volume of 81.15 million CNY and a turnover rate of 1.41%, resulting in a total market capitalization of 5.849 billion CNY [1] - Year-to-date, the stock price has remained unchanged, with a decline of 2.20% over the last five trading days, a 1.71% increase over the last 20 days, and a 2.73% decrease over the last 60 days [1] Group 2: Financial Performance - For the period from January to September 2025, Jinzhengdai reported a revenue of 7.319 billion CNY, reflecting a year-on-year growth of 14.44%, while the net profit attributable to shareholders was -29.4764 million CNY, a decrease of 116.36% compared to the previous year [2] - The company has distributed a total of 1.227 billion CNY in dividends since its A-share listing, with no dividends paid in the last three years [3] Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Jinzhengdai was 68,600, a decrease of 1.55% from the previous period, with an average of 47,922 circulating shares per shareholder, which is an increase of 1.58% [2] - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited is the fourth largest, holding 21.7362 million shares, an increase of 2.3025 million shares from the previous period [3] Group 4: Business Overview - Jinzhengdai Ecological Engineering Group Co., Ltd. specializes in a range of agricultural products, including compound fertilizers, controlled-release fertilizers, water-soluble fertilizers, biological fertilizers, and soil conditioners, providing comprehensive agricultural solutions to farmers [1] - The company's main business revenue composition includes conventional compound fertilizers (37.84%), phosphate fertilizers (24.73%), new fertilizers (20.86%), raw chemical fertilizers and others (16.38%), and other (0.18%) [1]

Group 1 - The core stock price of Jinzhengdai fell by 2.21% on December 23, trading at 1.77 yuan per share, with a total market value of 5.816 billion yuan [1] - The company experienced a net outflow of main funds amounting to 1.5901 million yuan, with significant selling pressure observed [1] - Jinzhengdai's stock price has decreased by 9.69% year-to-date, with a slight increase of 2.31% over the last five trading days [1] Group 2 - As of September 30, Jinzhengdai reported a total revenue of 7.319 billion yuan for the first nine months of 2025, reflecting a year-on-year growth of 14.44% [2] - The company recorded a net profit attributable to shareholders of -29.4764 million yuan, a significant decrease of 116.36% compared to the previous period [2] - The number of shareholders decreased by 1.55% to 68,600, while the average circulating shares per person increased by 1.58% to 47,922 shares [2] Group 3 - Jinzhengdai has distributed a total of 1.227 billion yuan in dividends since its A-share listing, with no dividends paid in the last three years [3] - As of September 30, 2025, Hong Kong Central Clearing Limited is the fourth largest circulating shareholder, holding 21.7362 million shares, an increase of 2.3025 million shares from the previous period [3]

Core Viewpoint - The company XinYangFeng is leveraging technological innovation to transform the fertilizer industry, focusing on green and high-value development while enhancing economic and ecological benefits [1][2]. Group 1: Company History and Development - XinYangFeng's history is marked by technological innovation, starting from its establishment in 1982 and overcoming early financial difficulties through strategic reforms [2]. - The company transitioned from traditional fertilizers to new types of fertilizers, establishing a research center in collaboration with China Agricultural University in 2010, which led to the development of controlled-release and water-soluble fertilizers [2]. - Currently, XinYangFeng has built 14 production bases across the country, with a production capacity exceeding 10 million tons of phosphate fertilizers and annual sales surpassing 5 million tons, positioning itself as a leader in the domestic phosphate fertilizer industry [2]. Group 2: Innovation and Research - XinYangFeng has established several provincial innovation platforms and invested over 200 million yuan annually in research and development since 2022, collaborating with various research institutions on significant projects [4]. - The company has achieved notable recognition for its innovations, including multiple provincial science and technology awards and over 260 authorized patents [4]. Group 3: Agricultural Impact and Community Engagement - Since 2010, XinYangFeng has participated in the national soil testing and fertilization initiative, completing over 2,000 soil testing reports and developing more than 1,600 crop nutrition solutions [6]. - In 2024 alone, the company conducted over 10,000 technical training sessions, benefiting more than 600,000 farmers and establishing 10,000 demonstration fields [6]. Group 4: Strategic Direction and Future Outlook - In response to industry challenges, XinYangFeng is focusing on dual development in phosphate fertilizers and fine chemicals, maximizing the value of phosphate resources and establishing a comprehensive innovation chain [7]. - The company is also transitioning towards digital and intelligent production models, aiming for breakthroughs in various key areas, including the industrialization of lithium iron phosphate for new energy batteries [7]. - Looking ahead, XinYangFeng plans to continue its focus on innovation-driven and green development, targeting advanced fields such as new fertilizers, fine chemicals, and high-value utilization of phosphogypsum [9].

Core Viewpoint - The company emphasizes the necessity of leveraging technology to achieve the goal of increasing grain production from 1.4 trillion jin to 1.5 trillion jin during the 14th Five-Year Plan period, highlighting its commitment to transforming from a traditional fertilizer manufacturer to a provider of crop nutrition solutions [1][2]. Group 1: Technological and Product Innovations - The company aims to enhance product efficiency by shifting from excessive fertilizer use to precision application, focusing on improving nutrient utilization and soil health [2]. - A robust R&D system has been established, including over 260 patents and participation in more than 20 national and provincial research projects, to address industry challenges such as low fertilizer efficiency [2]. - Collaborations with research institutions have led to innovative solutions, such as integrating ARC technology into fertilizers to improve crop quality and yield [2]. Group 2: Digital Services and Agricultural Support - The company has formed a specialized agricultural service team of over 200 members, investing more than 40 million yuan annually to provide customized fertilization plans and technical guidance to farmers [3]. - A digital platform named "Yangfeng Shennonghui" has been developed to offer tailored nutritional solutions using big data and crop growth models, aiming to enhance fertilizer efficiency and protect soil quality [3]. Group 3: Future Investments and Strategic Directions - The company plans to invest in enhancing supply chain resilience by developing a dual business model that includes both traditional fertilizer production and new materials such as iron phosphate and refined phosphoric acid [4]. - Regional optimization efforts are underway, with 14 production bases established across various provinces, including a new project in Anhui with an annual capacity of 1 million tons of specialized fertilizers [4]. - Digital transformation initiatives are being prioritized to improve internal capabilities, with automation rates in production facilities increasing from 75% to 99% [4]. Group 4: Green Transformation and Sustainability Efforts - The company is committed to energy conservation and carbon reduction throughout its production processes, focusing on technological upgrades and digital transformations [5][6]. - Efforts to utilize phosphogypsum, a byproduct of fertilizer production, are being implemented, with a capacity to process over 7 million tons annually, aiming for high-value applications in ecological restoration and construction materials [6].

Core Viewpoint - The Chinese fertilizer industry has achieved significant reduction and efficiency improvements over the past decade, becoming a key example of sustainable agricultural transformation globally. Since the launch of the "Zero Growth Action for Fertilizer Use" in 2015, the national fertilizer application has decreased for nine consecutive years, from 60.23 million tons to 49.88 million tons, a reduction of 17.2% [1][13][35]. Group 1: Industry Transformation and Achievements - The fertilizer application rate for the three major grain crops has increased from 35% to 42.6%, indicating more scientific and precise fertilization methods [1][13]. - The total grain production in China has remained stable at over 1.3 trillion jin since 2015, with a projected first-time increase to over 1.4 trillion jin in 2024, further ensuring food security [1][13]. - The actions taken have cumulatively avoided approximately 126 million tons of fertilizer application from 2015 to 2024 [1][35]. Group 2: Policy and Market Mechanisms - The transformation of the fertilizer industry is a result of multiple policies and market mechanisms working in synergy, involving technological innovation, management optimization, and production structure adjustments [1][12]. - The "dual carbon" goals of the state are driving the fertilizer industry towards a green and low-carbon direction, facing complex challenges in balancing food security, environmental protection, and economic benefits [1][12]. Group 3: Global Context and Future Outlook - The process reflects not only domestic agricultural modernization but also provides reference value for global agricultural sustainable development [2]. - The fertilizer industry must explore more efficient and environmentally friendly development paths to support the dual goals of food security and ecological protection [2].