Market Overview - The agricultural chemical sector experienced a slight decline of 0.14% on November 26, with Jiangshan Co. leading the drop [1] - The Shanghai Composite Index closed at 3864.18, down 0.15%, while the Shenzhen Component Index rose by 1.02% to 12907.83 [1] Stock Performance - Notable gainers in the agricultural chemical sector included: - Chitianhua (600227) with a closing price of 2.71, up 10.16% on a trading volume of 956,900 shares and a turnover of 255 million yuan [1] - Lanfeng Biochemical (002513) rose by 2.23% to 7.80, with a turnover of 254 million yuan [1] - Yachong International (000893) increased by 1.95% to 42.32, with a turnover of 506 million yuan [1] - Jiangshan Co. (600389) was the biggest loser, down 3.08% to 21.38, with a turnover of 126 million yuan [2] Capital Flow - The agricultural chemical sector saw a net outflow of 196 million yuan from institutional investors, while retail investors contributed a net inflow of 20.5 million yuan [2] - The overall retail investor net outflow was 920,960 yuan [2] Individual Stock Capital Flow - Chitianhua (600227) had a net outflow of 50.47 million yuan from institutional investors, with retail investors also showing a net outflow of 30.60 million yuan [3] - Newyangfeng (000902) experienced a net inflow of 39.79 million yuan from institutional investors, while retail investors had a net outflow of 10.92 million yuan [3] - Guangxin Co. (603599) saw a net inflow of 16.48 million yuan from institutional investors, with retail investors showing a net outflow of 15.55 million yuan [3]

根据股东大会的授权，公司于 2025 年 9 月 5 日通过《南通江天化学股份有 限公司大股东减持股份预披露公告》（公告编号：2025-039）披露了减持计划， 拟于 2025 年 9 月 29 日至 2025 年 12 月 28 日通过集中竞价或大宗交易方式合计 减持江天化学股份不超过 433.08 万股，占江天化学总股本的比例为 3.00%（以 下简称"本次减持计划"）。2025 年 10 月 10 日至 2025 年 11 月 25 日公司已减持 江天化学 433.08 万股，占江天化学总股本的 3.00%，公司已完成本次减持计划。 根据《上海证券交易所股票上市规则》6.1.2 的规定，上市公司发生的交易 事项产生的利润占上市公司最近一个会计年度经审计净利润的 10%以上，且绝对 金额超过 100 万元，应当及时披露。本次交易预计产生利润将达到以上披露标准， 具体收益金额以公司披露的定期报告中相关财务数据为准。本次减持计划完成后， 公司仍持有江天化学 1,302.84 万股，占江天化学总股本的 9.02%。 特此公告。 南通江山农药化工股份有限公司董事会 证券代码：600389 证券简称：江山股份 公告 ...

Core Viewpoint - Jiangshan Co., Ltd. has seen a stock price increase of 5.97%, reaching 24.67 CNY per share, with a total market capitalization of 10.624 billion CNY as of November 17 [1] Company Overview - Jiangshan Co., Ltd. is located in Nantong, Jiangsu Province, and was established on October 18, 1990, with its listing date on January 10, 2001 [1] - The company primarily engages in the research, production, and sales of agricultural products, mainly herbicides and insecticides, as well as chemical products, new materials, and steam from cogeneration [1] - The revenue composition of the company is as follows: agricultural products 61.85%, chemical products 14.05%, new materials 13.95%, cogeneration products 9.40%, others 0.74%, and trade 0.01% [1] Fund Holdings - According to data, one fund under Taixin Fund holds Jiangshan Co., Ltd. as a top ten position, specifically Taixin Smart Quantitative Stock Mixed Fund A (013033), which held 8,900 shares, accounting for 1.74% of the fund's net value [2] - The estimated floating profit from this holding is approximately 12,400 CNY [2] - The fund was established on May 22, 2025, with a current scale of 12.5156 million CNY and has achieved a return of 20.51% since inception [2]

Core Viewpoint - Jiangtian Chemical announced that Nantong Jiangshan Pesticide Chemical Co., Ltd. will reduce its shareholding by 7.218 million shares, accounting for 5.00% of the total share capital, from June 6, 2025, to November 13, 2025 [1] Group 1 - Nantong Jiangshan Pesticide Chemical Co., Ltd. will decrease its shareholding from 15.00% to 10.00% after the completion of the share reduction [1] - As of the date of the report, the share reduction plan has not been fully implemented, and there are no plans for share repurchase in the next 12 months [1] - The company will continue to fulfill its information disclosure obligations as required [1]

Core Viewpoint - Jiangshan Co., Ltd. has shown a significant increase in stock price this year, with a 70.50% rise, despite a slight decline in recent trading days [1][2]. Financial Performance - For the period from January to September 2025, Jiangshan Co., Ltd. achieved a revenue of 4.516 billion yuan, representing a year-on-year growth of 5.20% [2]. - The net profit attributable to shareholders for the same period was 425 million yuan, marking a substantial increase of 147.91% year-on-year [2]. Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 9.05% to 19,100, while the average circulating shares per person increased by 9.95% to 22,509 shares [2]. - The company has distributed a total of 2.693 billion yuan in dividends since its A-share listing, with 384 million yuan distributed over the past three years [3]. Stock Market Activity - On November 14, Jiangshan Co., Ltd. saw its stock price rise by 2.11%, reaching 23.70 yuan per share, with a trading volume of approximately 93.08 million yuan [1]. - The company’s market capitalization stands at 10.206 billion yuan, with a turnover rate of 0.93% [1]. Business Overview - Jiangshan Co., Ltd. primarily engages in the research, production, and sales of agricultural chemicals, including herbicides and insecticides, as well as chemical products and new materials [1]. - The revenue composition of the company includes 61.85% from agricultural products, 14.05% from chemical products, 13.95% from new materials, and 9.40% from thermal power products [1]. Institutional Holdings - As of September 30, 2025, major shareholders include China Europe Fund and Hong Kong Central Clearing Limited, with notable changes in their holdings [3].

Core Viewpoint - Jiangshan Co., Ltd. (stock code: 600389) disclosed on November 13 that as of November 10, 2025, Fuhua Technology holds 20,906,403 shares of the company, representing a 4.85% ownership stake [1] Summary by Category - **Shareholding Information** - Fuhua Technology's shareholding in Jiangshan Co., Ltd. amounts to 20,906,403 shares [1] - The ownership percentage of Fuhua Technology in Jiangshan Co., Ltd. is 4.85% [1]

Core Viewpoint - Jiangshan Co., Ltd. (600389) is actively working to obtain pesticide registration for its innovative drug JS-T205 (Benzoylurea) to facilitate its market launch [1] Group 1 - The company is in communication with regulatory authorities to expedite the new pesticide registration process [1]

Core Viewpoint - Jiangtian Chemical announced that its major shareholder, Jiangshan Co., plans to reduce its stake in the company by 2,495,200 shares, representing 1.73% of the total share capital, between November 6 and November 11, 2025 [1] Summary by Relevant Sections - **Shareholder Actions** - Jiangshan Co. will reduce its holdings in Jiangtian Chemical through centralized bidding and block trading [1] - After the reduction, Jiangshan Co. will hold 14,694,000 shares, which is 10.18% of the total share capital [1] - **Impact of the Equity Change** - The equity change will trigger a change in ownership that touches the 1% integer multiple threshold [1]

Core Viewpoint - Jiangtian Chemical (300927.SZ) announced a significant share reduction by its major shareholder, Nantong Jiangshan Pesticide Chemical Co., Ltd. [1] Group 1: Shareholder Actions - Jiangshan Co. plans to reduce its holdings by 2,495,200 shares, representing 1.73% of the total share capital of Jiangtian Chemical [1] - After the reduction, Jiangshan Co. will hold 14,694,000 shares, which is 10.18% of the total share capital [1] - The share reduction will occur between November 6 and November 11, 2025, through centralized bidding and block trading methods [1]

Core Insights - The agricultural chemical sector experienced a decline of 0.94% on November 12, with Chengxing Co. leading the drop [1] - The Shanghai Composite Index closed at 4000.14, down 0.07%, while the Shenzhen Component Index closed at 13240.62, down 0.36% [1] Stock Performance Summary - Baiao Chemical (603360) saw a closing price of 34.59, with an increase of 4.22% and a trading volume of 182,100 shares, totaling a transaction value of 613 million yuan [1] - Chengxing Co. (600078) reported a significant decline of 10.00%, closing at 12.06 with a trading volume of 807,000 shares and a transaction value of 979 million yuan [2] - The overall agricultural chemical sector had a net outflow of 1.573 billion yuan from major funds, while retail investors contributed a net inflow of 1.245 billion yuan [2][3] Fund Flow Analysis - Major funds showed a net inflow of 34.63 million yuan into Luohua Technology (600691), while retail investors had a net outflow of 28.86 million yuan [3] - Li Min Co. (002734) experienced a net inflow of 26.16 million yuan from major funds, but a net outflow of 34.85 million yuan from retail investors [3] - Baiao Chemical (603360) had a net inflow of 11.19 million yuan from major funds, with retail investors showing a net outflow of 8.34 million yuan [3]