云天化（600096）公告，2025年第一季度营收为130.04亿元，同比下降6.16%；净利润为12.89亿元，同 比下降11.65%。 ...

Core Viewpoint - Yunnan Yuntianhua is revolutionizing agricultural practices by integrating advanced industrial technologies into farming, exemplified by their modern flower cultivation techniques and smart greenhouse systems [2][7]. Group 1: Technological Innovations in Agriculture - The smart greenhouse at Yunnan Yuntianhua's modern agricultural demonstration park allows for precise environmental control, maintaining temperature fluctuations within ±0.5℃ and adjusting light intensity minute by minute [2]. - The application of soilless cultivation technology has led to a remarkable 300% increase in yield per unit area, while water recycling techniques have reduced costs and contributed to local ecological management [3]. - The integration of infrared imaging systems enables the precise grading of flowers based on their blooming status, streamlining the packaging process [3]. Group 2: Economic Impact and Production Capacity - The demonstration park spans 1,450 acres and produces approximately 500,000 fresh-cut roses daily, generating an annual output value close to 100 million yuan [3]. - Yunnan Yuntianhua has successfully cultivated 32 proprietary flower varieties, with 8 varieties already making a mark in the market, breaking the long-standing foreign monopoly [3]. Group 3: Workforce Development and Training - Since the park's inception, 1,023 local farmers have been trained to transition from traditional farming to modern agricultural practices, enhancing their skills in advanced agricultural techniques and management [4]. - The company has provided professional services to over 1,700 farmers, resulting in an average increase of over 20% in the proportion of high-quality flowers produced [4]. Group 4: Research and Development Initiatives - Yunnan Yuntianhua is exploring new pathways for agricultural transformation through its "laboratory-farm" integration model, focusing on seedling research, planting technology innovation, and pest control [6]. - The establishment of 36 technology small courtyards across 12 provinces has led to the development of over 1,221 planting schemes and a comprehensive database for pest management, supporting the agricultural industry across 30 million acres [6].

证券代码：600096 证券简称：云天化 公告编号：临 2025-034 云南云天化股份有限公司 2024 年年度股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一) 股东大会召开的时间：2025 年 04 月 15 日 (二) 股东大会召开的地点：公司总部会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持 有股份情况： | 1. 出席会议的股东和代理人人数 | 1,103 | | --- | --- | | 2. 出席会议的股东所持有表决权的股份总数（股） | 834,463,132 | | 3. 出席会议的股东所持有表决权股份数占公司有表决权股份总 | 45.4914 | | 数的比例（%） | | (四) 表决方式是否符合《公司法》及《公司章程》的规定，大会 主持情况等。 本次股东大会由公司董事会召集，现场会议由董事长崔周全先生 主持，会议采取现场投票和网络投票相结合的方式。会议的召集、召 开、表决方式符合《公司法》 ...

北京德恒（昆明）律师事务所 Beijing DeHeng Law Offices (KunMing) 云南省昆明市西山区西园路 126 号"融城优郡"B5 幢 3、4 层 电话（传真）: 0871-63172192 邮编: 650032 北京德恒(昆明)律师事务所 关于云南云天化股份有限公司 2024 年年度股东会的法律意见 北京德恒（昆明）律师事务所 关于云南云天化股份有限公司 2024 年年度股东会的 法律意见 北京德恒（昆明）律师事务所 关于云南云天化股份有限公司 2024 年年度股东会的 法律意见 云南云天化股份有限公司: 北京德恒(昆明)律师事务所(下称"本所")作为贵公司的常年法律顾问, 本次指派杨杰群律师、杨敏律师出席贵公司 2024年年度股东会(以下简称"本 次股东会"),并按照律师行业公认的业务标准、道德规范及勤勉尽责精神,对 贵公司提供的与本次股东会有关的文件资料进行了审查,现根据《公司法》《证 券法》《上市公司股东会规则》及贵公司《章程》的规定,就贵公司本次股东会 的相关事项出具如下法律意见: 一、关于本次股东会的召集和召开程序 根据贵公司提供的有关资料及公开披露的信息,表明贵公司董事会 ...

云南云天化股份有限公司 关于变更回购股份用途为注销暨减少注册资本通知 债权人的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、通知债权人的原由 证券代码：600096 证券简称：云天化 公告编号：临 2025-035 （二）债权申报登记地点：云南省昆明市西山区滇池路 1417 号； （三）邮编：650228； （四）联系人：云南云天化股份有限公司证券部； （五）联系电话：0871-64327177； （六）传真：0871-64327155。 云南云天化股份有限公司（以下简称"公司"）分别于 2025 年 3 月 21 日召开第九届董事会第四十二次会议和 2025 年 4 月 15 日召开 2024 年年度股东大会，审议通过了《关于变更回购股份用途并注销的 议案》。同意将回购专户持有的公司股份用途由"用于公司未来员工 持股计划或股权激励"变更为"用于注销并减少注册资本"，即同意 公司将回购专用账户中 11,338,016 股库存股进行注销并减少注册资 本。 本次注销完成后，公司注册资本将由 1,834,328,747 ...

Investment Rating - The report maintains an "Outperform" rating for the company [2][9]. Core Views - The company's recurring net profit increased by 15.12% year-on-year, with a planned cash dividend distribution of 2.552 billion yuan, accounting for 47.86% of the net profit attributable to the parent company [1][6]. - The company achieved an operating revenue of 61.537 billion yuan in 2024, a year-on-year decrease of 10.89% [6][9]. - The report forecasts net profits for 2025-2027 to be 5.616 billion yuan (+18.83%), 5.883 billion yuan (+22.59%), and 6.172 billion yuan, respectively, with corresponding EPS of 3.06, 3.21, and 3.36 yuan per share [9]. Financial Performance Summary - In 2024, the company reported a net profit of 5.190 billion yuan, with a significant increase in recurring net profit [6][9]. - The fourth quarter of 2024 saw an operating revenue of 14.813 billion yuan, a sequential increase of 0.55% but a year-on-year decrease of 6.00% [6][9]. - Major products showed varied performance: - Phosphate fertilizer production was 5.0542 million tons, with a gross profit margin increase to 37.93% [7]. - Compound fertilizer production increased by 13.17%, with a revenue increase of 16.62% [7]. - Urea production increased by 9.87%, but revenue decreased by 2.71% [7]. - Polyoxymethylene production increased by 4.65%, with a slight revenue increase [7]. Production and Resource Advantages - The company has significant phosphate rock and coal resources, with phosphate rock reserves of nearly 800 million tons and a mining capacity of 14.5 million tons per year [8]. - The synthetic ammonia production capacity is 2.48 million tons per year, with a self-sufficiency rate exceeding 95% [8]. - The total fertilizer production capacity is 10 million tons per year, with additional capacities in feed-grade calcium phosphate salts and polyoxymethylene [8].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% relative to the industry index in the next six months [4][21]. Core Views - The company is expected to see improved profitability in 2024, with a projected revenue of 61.54 billion yuan, a year-on-year decrease of 10.89%, while net profit is expected to rise by 17.93% to 5.33 billion yuan [1][2]. - The company has successfully optimized cost control, leading to an overall improvement in profitability, with a gross margin of 17.50%, up 2.32 percentage points year-on-year [2]. - The company benefits from a strong position in the phosphate fertilizer market, supported by domestic policies aimed at stabilizing prices amid global uncertainties [3][8]. Financial Summary - Revenue and Profitability: - 2023 revenue was 69.06 billion yuan, projected to decrease to 61.54 billion yuan in 2024, with a gradual recovery expected in subsequent years [1]. - Net profit for 2024 is projected at 5.33 billion yuan, a 17.93% increase from 2023 [1][11]. - The company’s return on equity (ROE) is expected to decline from 25.0% in 2023 to 24.6% in 2024 [1]. - Cash Flow and Expenses: - Operating cash flow is expected to increase by 13.93% to 10.75 billion yuan in 2024, driven by higher net profit [2]. - Financial expenses are projected to decrease by 30.52%, while management expenses are expected to rise by 12.38% [2]. - Dividend Policy: - The company plans to maintain a high dividend payout ratio, with a cash dividend of 14 yuan per 10 shares for 2024, amounting to 2.55 billion yuan, which is 47.86% of the net profit attributable to shareholders [3]. Industry Context - The phosphate fertilizer industry is experiencing a favorable environment due to policy support and a reduction in the number of less competitive firms, leading to increased market concentration [3][8]. - The company’s phosphate production capacity is significant, with a total phosphate rock reserve of nearly 800 million tons and a production capacity of 14.5 million tons per year [9][10]. - The company’s main products, including ammonium phosphate and compound fertilizers, have shown production and sales growth, contributing positively to overall performance [8][9].

证券代码：600096 证券简称：云天化 公告编号：临 2025-033 云南云天化股份有限公司 关于提供担保的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 被担保人名称：云南氟磷电子科技有限公司（以下简称"氟磷 电子"），为公司参股公司。 本次担保金额及已实际为其提供的担保余额：2025 年 3 月合 计为上述被担保人提供的担保金额为 980.00 万元，截至 2025 年 3 月 31 日，公司为上述被担保人累计担保余额为 22,619.32 万元，在股东 大会审议通过的担保额度范围之内。 本次担保事项的被担保人氟磷电子资产负债率超过 70%，敬请 广大投资者充分关注担保风险。 一、担保情况概述 1 / 3 参股公司氟磷电子各股东按持股比例提供担保，无反担保。 对外担保逾期的累计数量：无。 权公司董事长及经营管理层在上述担保限额内签署公司 2025 年度融 资担保事项（文件）（详见公告：临 2024-083）。 2025 年 3 月，公司为参股公司氟磷电子按照持股比例提供的担 保总额为 980. ...

2024 年年度股东大会 会议资料 云南云天化股份有限公司 YUNNAN YUNTIANHUA CO.,LTD 2024 年年度股东大会会议资料 会议议程 一、参会股东资格审查 公司登记在册的所有股东或其代理人，均有权出席股东大会。股 东应当持身份证或其他能够表明其身份的有效证件或证明出席股东 大会。代理人还应当提交股东授权委托书和本人有效身份证件。 二、会议签到 三、主持人宣布会议开始 （一）介绍参加会议的公司股东和股东代表及所代表的股份总数， 介绍参加会议的公司董事、监事、高管人员等。 | | | 会议议程 | 3 | | --- | --- | --- | --- | | 议案一 | 2024 | 年度财务决算报告 | 5 | | 议案二 | 2025 | 年度财务预算方案 | 8 | | 议案三 | 2024 | 年度利润分配预案 | 11 | | 议案四 | | 关于变更回购股份用途并注销的议案 | 14 | | 议案五 | 2024 | 年度独立董事述职报告 | 16 | | 议案六 | 2024 | 年度监事会工作报告 | 45 | | 议案七 | 2024 | 年度董事会工作报告 | 51 | ...

证券代码：600096 证券简称：云天化 公告编号：临 2025-032 云南云天化股份有限公司 关于参股公司磷矿勘探进展的公告 1 模提升和产业结构调整。 特此公告。 云南云天化股份有限公司 董事会 2025 年 4 月 8 日 2 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 2023年3月，公司与云天化集团有限责任公司、昭通发展集团有 限责任公司和镇雄工业投资开发有限责任公司共同出资设立云南云 天化聚磷新材料有限公司（以下简称"合资公司"），对云南省镇雄县 碗厂磷矿进行矿产资源勘查，申请办理采矿权许可证等相关工作（详 见公司临2023-039号公告）。截至目前，合资公司已提前完成镇雄磷 矿的勘探野外工作，并顺利通过"勘探野外工作"验收，工作进展快 于预期。 在地方政府的支持下，合资公司快速推进该项目探转采的相关工 作。在磷矿普查工作的基础上，通过地面地质工作，深部矿产钻探、 水文地质及工程地质钻探及采样分析测试、试验等，完成矿区磷矿勘 探等相关工作，并在此基础上编制磷矿勘探报告，完成了探转采所必 要的主要条件和关键节点 ...