LMGF(SZ:002734)2024-10-15 13:23Group 1: Market Performance and Trends - The pesticide market has shown signs of recovery since Q2 2024, with a notable rebound in Q3 due to rising production costs, strong market demand, and tight product supply [2] - The company's raw material and formulation products experienced year-on-year growth in production and sales [2] - Export business has increased, accounting for approximately 54% of total revenue from January to September 2024 [4] Group 2: Pricing Dynamics - The price of the fungicide "Bacillus subtilis" has risen to 23,000 CNY/ton, recovering from previous lows, with expectations for further price recovery as market demand increases [3] - The main products, such as "Abamectin" and "Methomyl," saw price increases of 13.51% and 23.76% respectively since the beginning of the year [3] - The company plans to adjust product prices in response to market recovery, increased demand, and industry capacity adjustments [4] Group 3: Strategic Initiatives - The company is focusing on establishing overseas sales platforms and enhancing cooperation with multinational companies to expand its market presence [3] - A new synthetic biology laboratory is in trial operation, aimed at driving cost reduction and efficiency improvements [2] - The company is committed to developing a "one main, two auxiliary" industrial structure, emphasizing the development of synthetic biology products and technologies [5] Group 4: Challenges and Considerations - Geopolitical factors, such as the Russia-Ukraine conflict and trade tensions, are impacting procurement rhythms and market operations [4] - High bank interest rates in Brazil have a manageable impact on business due to dollar settlements, although some exchange losses are expected [4] - The company is actively addressing customer concerns regarding procurement and market conditions, adapting its shipping plans accordingly [4]