隆平高科(000998) - 2023年3月2日投资者关系活动记录表

Company Overview - Yuan Longping Agricultural High-Tech Co., Ltd. is the largest integrated seed company in China, leading in hybrid rice seed production and ranking among the top ten global seed companies [1][2] - The company is a core platform for crop breeding under CITIC Group, focusing on modern agricultural technology [1] Financial Performance - For the 2021-2022 business year, the company achieved total revenue of CNY 3.96 billion, a year-on-year increase of 24.78% [2] - Sales volume increased by 21.17%, with rice seed revenue at CNY 1.505 billion (up 11.26%) and sales volume of 7,641,436.31 tons (up 20.77%) [2] - Corn seed revenue reached CNY 1.249 billion, a 48.03% increase, with sales volume of 18,190,213.18 tons (up 32.61%) [2] Challenges and Losses - The company anticipates a loss of CNY 750 million to 880 million for 2022 due to several factors, including: - Foreign exchange losses from USD loans of approximately CNY 185 million [2] - Employee stock ownership plan costs of CNY 52 million [2] - Increased R&D expenses of about CNY 123 million [2] - Impairment provisions for goodwill and inventory totaling approximately CNY 369 million [2] Research and Development - The company is advancing in both traditional breeding and biotechnology, focusing on transgenic and gene-editing technologies [3] - Four transgenic corn products have received safety certificates, with ongoing trials and approvals for various traits [3] Strategic Collaborations - A strategic partnership with Kenfeng Seed Industry aims to leverage strengths in research, innovation, and market operations [4] - The collaboration will enhance crop variety development and agricultural services across different regions [4] Future Goals - The company aims to be among the top five global seed companies by 2025, focusing on rice, corn, and vegetable seed sectors [4] - It is committed to advancing agricultural progress and ensuring food security as part of national strategies [4] Market Position - The company has a strong presence in the hybrid rice and corn markets, with several top-ranked varieties in terms of acreage [5] - Key hybrid rice varieties include Jingliangyou 534 (455,000 acres) and Longliangyou 534 (312,500 acres) [5] - Leading corn varieties include Zhengdan 958 (1,825,000 acres) and Yufeng 303 (1,501,000 acres) [5]