ABACHEM(SZ:300261)2025-06-06 13:06Group 1: Business Operations - The company has an annual production capacity of 2,000 tons for chlorantraniliprole intermediates, operating under a CDMO model, which allows for customized production based on client orders [1] - The chlorantraniliprole business is currently not affected by the "Shandong Youdao" incident, as the company has not participated in market competition and adjusts supply based on client demand [1] - The company has not yet signed a new cooperation agreement after the expiration of a long-term contract, but normal supply to clients continues, with intentions for extension being discussed [2] Group 2: Impact of Tariff Policies - The company’s CDMO business model has fostered closer relationships with clients, allowing for transparent communication, which helped mitigate the impact of a 10% tariff increase in the U.S. [3] - Clients, primarily multinational corporations, have the flexibility to shift procurement needs to domestic factories or other countries with lower tariffs, enhancing resilience against tariff changes [3] Group 3: Agricultural Business Development - The agricultural business is focused on a "big client strategy" and CDMO model, with several projects at various stages of development, expected to improve performance as products are launched [4] Group 4: Pharmaceutical Business Development - The company is increasing investment in pharmaceutical R&D and production facilities, aiming to strengthen the integration of its pharmaceutical sector and enhance supply chain competitiveness [5][6] Group 5: Environmental Business Development - The subsidiary engaged in kitchen waste treatment has seen slowed growth due to market changes, but plans to pivot towards biomass waste resource management to improve overall business performance [6]