Core Points - The 2025 China Original Folk Song Festival was inaugurated in Hohhot, aiming to showcase the achievements in the protection and inheritance of traditional music and intangible cultural heritage in China [1][2] - The festival featured various activities including opening performances, cultural fairs, concentrated exhibitions of original folk songs, grassroots cultural outreach, and closing performances [1] - The Ordos sub-venue hosted 65 traditional music performance teams, highlighting the rich diversity of Chinese folk music [1][2] Group 1 - The theme of the festival is "Original Heavenly Sound, Folk Songs of Chinese Feelings," emphasizing the cultural exchanges among different ethnic groups in China [1] - The performances included a variety of traditional music styles, such as pastoral songs, labor songs, and regional instrumental music, showcasing the unique charm of each ethnic group's music [1][2] - The event in Ordos served as a vivid example of the deep integration of intangible cultural heritage and tourism, promoting cultural appreciation and heritage protection [2] Group 2 - The festival featured notable performances such as the Shanxi folk song "Peach Blossom Red, Apricot Blossom White," and the Jiangsu folk song "Planting Across the River," which reflect the local cultural essence [2] - The closing performance included the Shandong Zou City Pingpai Guqing music, demonstrating the extraordinary charm of traditional wind and percussion music [2] - The event was a heartfelt tribute to the collective memory and cultural genes of the Chinese nation, with Ordos providing effective organization and an inclusive atmosphere for this national cultural event [2]

四川国光农化股份有限公司 投资者关系活动记录表 证券代码： 002749 证券简称：国光股份 四川国光农化股份有限公司投资者关系活动记录表 编号：2025-018 答：公司以植物生长调节剂为主的全程解决方案一般来讲较传 统的以农药肥料为主的投入略高，但由于能使作物提质、增产，达 到增收的目的，因此，粘性较高。 问 3：全程方案推广采取怎样的模式？ 答：作物种植全程解决方案推广由公司技术营销人员、经销商、 零售商共同完成，采取"实地巡田服务+线上实时服务"的技术服 务模式与农户实时对接，及时帮助种植户解决作物管理过程中遇到 的问题。 投资者关系 活动类别 ☑特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他（ ） 活动参与人员 华创证券有限责任公司 吴宇 平安基金管理有限公司 黄志凌、刘杰 国光股份 董事会秘书 颜铭 国光股份 证券事务代表 李超 时间 2025 年 6 月 27 日 地点 公司龙泉办公区 形式 电话会议 交流内容及具 体问答记录 一、董事会秘书颜铭向投资机构介绍了公司的核心业务、行业空 间、行业壁垒 （一）公司专注于植物生长调节剂 40 余年，能 ...

6月10日，由锡林浩特市委宣传部、锡林浩特市文联主办的"聆听天籁之音 共赏非遗之美——北疆 文化神州行"活动走进江西科技师范大学，艺术家们通过潮尔道、长调、呼麦等艺术形式，将北疆草原 的辽阔与壮美，人民的质朴与热情，化作一曲曲直抵心灵的文化交响，唱响赣鄱大地。 在潮尔道合唱《旭日般升腾》中，多声部演唱如草原晨曦般层层铺展，浑厚的低音与嘹亮的高音交 织成天地共鸣的恢宏乐章；《锡林郭勒大草原》的长调悠扬婉转，似风掠过草海，将听众带入"天苍 苍，野茫茫，风吹草低见牛羊"的诗意之境；呼麦《洪格尔英雄赞》低沉震撼，仿佛能听见蒙古马铿锵 有力、奋勇向前的足音……一个个精彩的节目，博得现场观众阵阵掌声。 江西科技师范大学音乐学院副院长陈军说："当长调在江西的舞台上响起，当马头琴的旋律与采茶 戏的韵律交织，本身就是中华文明交往交流交融的最好诠释，我们希望通过每一次这样的聆听与共赏， 让世界看到中华民族的非遗文化正在以一种开放的姿态，对话时代，拥抱未来。" 江西科技师范大学音乐学院积极探索"非遗进课堂"模式，开设《中国少数民族音乐研究》《传统音 乐采风与创作》等课程，通过"走出去""请进来"的方式，让学生深入理解中华文化的多样 ...

Investment Rating - The industry investment rating is "Buy" for companies with strong fundamentals and low correlation to oil prices, suggesting a bottom-fishing strategy [10][18]. Core Viewpoints - The report indicates a recovery in macro expectations, with a notable increase in oil prices due to supply risks from geopolitical tensions and seasonal demand [10][14]. - The report emphasizes the importance of focusing on domestic demand and opportunities in new material substitutions, particularly in the agricultural chemical sector during the spring planting season [10][18]. Summary by Sections 1. Core Viewpoints - Oil prices have risen this week, with a focus on companies that have strong fundamentals and are less affected by oil price fluctuations [10][18]. - Recommendations include companies like Wanhua Chemical, Huamao Technology, Runfeng Co., Guoguang Co., and Hualu Hengsheng, highlighting their unique market positions and growth potential [10][18]. 2. Oil and Chemical Price Information 2.1 Oil - As of June 6, Brent oil prices increased by 4.02% to $66.47 per barrel, driven by supply risks and seasonal demand [14]. - U.S. crude oil commercial inventories decreased by 4.3 million barrels to 436.1 million barrels [14]. 2.2 Chemicals - Among 188 monitored chemical products, the top three price increases this week were for liquid chlorine (up 11.8%), natural gas (up 9.3%), and hydrochloric acid (up 4.6%) [15]. - The report notes significant monthly price changes, with hydrochloric acid increasing by 54.5% [10][15]. 3. Price and Spread Changes - The report highlights the top three products with the largest weekly spread increases: R410a spread (up 200.0%), acrylic acid butyl ester spread (up 58.2%), and PTA (up 45.9%) [10][20]. - Monthly spread changes show significant increases in the electric stone method PVC spread (up 216.9%) [10][20].

四川国光农化股份有限公司 投资者关系活动记录表 证券代码： 002749 证券简称：国光股份 四川国光农化股份有限公司投资者关系活动记录表 问 4：公司如何对新员工进行培养？ 答：公司计划在农业院校招聘 300 名接受过系统、专业学习的 2025 届毕业生，目前已经完成招聘计划。公司采取公司集中培训、 团队培训、师傅带徒弟的方式持续对新员工进行应用技术培训。在 各个学习阶段对新员工采用笔试、讲课等方式进行专业知识考核。 新员工增长可以拓展渠道，覆盖更多的空白区域和空白市场，提升 技术服务能力和效率，推动公司营收增长。 问 5：公司对技术营销人员如何进行激励？ 答：一方面通过绩效考核对技术营销人员进行激励，绩效考核 包括三个部分：一是日常工作考核，如拜访用户数量、召开现场会 数量等；二是所在区域的产品销量考核，包括存量考核、增量考核； 三是单一产品销量考核，如毛利率高的产品销量考核等。另一方面， 对公司核心技术营销人员以股权激励的方式进行激励。 问 6：产能利用情况如何？ 编号：2025-015 | | ☑特定对象调研 | □分析师会议 | | | --- | --- | --- | --- | | 投资者关系 ...

四川国光农化股份有限公司投资者关系活动记录表 证券代码： 002749 证券简称：国光股份 四川国光农化股份有限公司 投资者关系活动记录表 编号：2025-015 | | ☑特定对象调研 | □分析师会议 | | | --- | --- | --- | --- | | 投资者关系 | □媒体采访 | □业绩说明会 | | | 活动类别 | □新闻发布会 | □路演活动 | | | | □现场参观 | | | | | □其他（） | | | | | 东方证券 | | 宋璐/万里扬 | | | 中信证券 | | 田显城 | | | 光大证券 | | 周家诺 | | | 天风证券 | | 唐婕 | | | 前海开源基金 | | 黄傲雪 | | 活动参与人员 | 景顺长城 | | 范顺鑫 | | | 鹏扬基金 | | 李伟峰 | | | 汇添富基金 | | 刘高晓 | | | 泰康资产 | | 王卓夫 | | | 国光股份 | 董事会秘书 | 颜铭 | | | 国光股份 | 证券事务代表 | 李超 | | 时间 | 2025 年 5 月 26 日 | | | | 地点 | 公司龙泉办公区 | | | | 形式 | 现 ...

Investment Rating - The industry investment rating is "Positive (Maintain)" [7] Core Viewpoints - This week, oil prices experienced a slight decline, while the prices of acrylic acid and coal tar saw significant increases. The report emphasizes a focus on leading companies with strong alpha that are less correlated with oil prices, suggesting a bottom-fishing strategy. It also highlights the importance of domestic demand and opportunities in new material domestic substitution, particularly in the agricultural chemical sector during the spring farming peak [9][17]. Summary by Sections Oil and Chemical Prices Information - As of May 23, Brent oil price decreased by 0.96% to $64.78 per barrel. The report notes that U.S. commercial crude oil inventories increased by 1.3 million barrels to 443.2 million barrels, with gasoline inventories rising by 800,000 barrels and distillate inventories by 600,000 barrels [13][14]. - Among 188 monitored chemical products, the top three price increases this week were acrylic acid (up 10.8%), coal tar (up 7.6%), and anthracene oil (up 5.7%). The largest declines were seen in liquid chlorine (down 16.7%), formic acid (down 8.0%), and tetrachloroethylene (down 7.2%) [9][14]. Price and Spread Changes - The report indicates that the top three products with the largest weekly price increases were acrylic acid (up 10.8%), coal tar (up 7.6%), and anthracene oil (up 5.7%). The largest monthly price increases were liquid chlorine (up 40.2%), but it also noted significant declines in formic acid (down 29.2%) [9][15]. - The top three products with the largest weekly spread increases were MTP spread (up 35.0%), acrylic acid spread (up 33.2%), and BDO spread (up 29.5%). The report also highlights significant declines in the spreads of acrylic acid butyl ester (down 710.1%) and R410a spread (down 100.0%) [9][19]. Investment Recommendations - The report recommends several companies for investment: - Wanhua Chemical (600309, Buy): Core product MDI is seeing profit improvements, with new petrochemical and new material projects coming online [17]. - Huangma Technology (603181, Buy): A leading special polyether company that has entered a growth phase again [17]. - Runfeng Co., Ltd. (301035, Buy): A rare company with a global layout for formulation registration and sales channels [17]. - Guoguang Co., Ltd. (002749, Buy): A leading company in the plant growth regulator sector [17]. - Hualu Hengsheng (600426, Buy): Core product prices are recovering alongside a decline in coal prices, leading to continuous improvement in spreads [17].

孟山都草甘膦事件对农药行业有什么影响？ 孟山都草甘膦事件对农药行业产生了显著影响。今年 3 月份拜耳考虑退出美国 除草剂业务，以应对因草甘膦问题引发的大量诉讼。自 2015 年 IARC 将草甘 膦定义为致癌物后，美国超过数万应用者对拜耳提起诉讼，目前诉讼案件已接 近 18 万起，其中超过 6 万件需要等待和解。据了解，这些诉讼已花费拜耳约 100 亿美元，并且仍在增加。拜耳通过兼并孟山都后，其股价及业务受到极大 影响，因此提出退出美国市场或通过孟山都破产来减少阻挠。这一事件引发国 内高度关注，中国草甘膦产能约 80 万吨，占全球 2/3，而孟山都占 1/3。目前 国内市场处于底部价格水平，在 2.2 万至 2.3 万元之间。企业需关注这一事件 的发展及其可能带来的市场变化。 • 草甘膦诉讼案对拜耳造成重大财务压力，可能导致其退出美国除草剂市场， 中国作为全球草甘膦主要生产国，相关企业需密切关注市场变化及潜在风 险。 • 环保限产和安全事故导致烯草酮供应紧张，价格大幅上涨，利好山东先达 和河北兰生等主要生产商，小型企业也在积极恢复产能以应对市场缺口。 • 多菌灵因环保停产导致价格波动，百菌清和代森锰锌等杀菌剂 ...

投资建议与投资标的 本周油价上涨，丁二烯、SBS、纯苯涨幅 居前 核心观点 原油相关信息： ⚫ 原油及相关库存：2025 年 5 月 9 日美国原油商业库存 4.418 亿桶，周增加 350 万 桶；汽油库存 2.247 亿桶，周减少 100 万桶；馏分油库存 1.036 亿桶，周减少 320 万桶；丙烷库存 0.50424 亿桶，周增加 224.8 万桶。美国原油产量及钻机数：2025 年 5 月 9日美国原油产量为 1338.7 万桶/天，周度增加 2万桶/天，较一年前增加 28.7 万桶/天。2025 年 5 月 16 日美国钻机数 576 台，周减少 2 台，年减少 28 台；加拿 大钻机数 121 台，周增加 7 台，年增加 7 台。其中美国采油钻机 473 台，周度减少 1 台，年度减少 24 台。 价格变化： 基础化工行业 行业研究 | 行业周报 价差变化： 风险提示 ⚫ 项目进展不及预期；需求不及预期；海外市场供需情况变化；油价大幅波动。 国家/地区 中国 行业 基础化工行业 报告发布日期 2025 年 05 月 19 日 看好（维持） | 倪吉 | 021-63325888*7504 | | ...

Core Viewpoint - The company, Jinzhengdai, is actively promoting its controlled-release fertilizer technology globally, aiming to establish itself as a leader in this sector while enhancing its product offerings and operational efficiency [2][3][6]. Group 1: Global Promotion of Controlled-Release Fertilizer - Jinzhengdai has initiated a global promotion action for controlled-release fertilizers, collaborating with various agricultural institutions and launching this initiative in Europe and Southeast Asia [2]. - The company has established its first overseas controlled-release fertilizer factory in the Netherlands and signed a strategic partnership with AgriAKU in Indonesia to promote its products in Southeast Asia [2][3]. - Future plans include collaborations with the Food and Agriculture Organization and the Global Fertilizer Industry Association to expand into Central and Eastern Europe, Vietnam, Japan, and Africa [2]. Group 2: Product Development and Market Strategy - Jinzhengdai aims to be a respected provider of comprehensive agricultural solutions, focusing on high-efficiency fertilizers, including controlled-release fertilizers, which are encouraged by the government [2]. - The company has developed a full range of plant nutrition products and established five major technical solutions to enhance crop yield and quality [2]. - The company is focusing on marketing breakthroughs and cost reduction as key strategies for 2025, emphasizing product transformation and digital transformation to improve sales [3][11]. Group 3: Financial Performance and Challenges - In Q1 2025, Jinzhengdai reported revenues of 2.348 billion yuan, a year-on-year increase of 19.67%, but a net profit of only 8.8 million yuan, reflecting a significant decline compared to previous periods [4][13]. - The company is addressing low capacity utilization and aims to improve operational efficiency through better resource allocation and management practices [3][11]. - As of the end of 2024, the company had total liabilities of 8.9 billion yuan, with a debt-to-asset ratio of 80.61%, indicating ongoing efforts to manage and reduce debt levels [8].