Group 1 - The report highlights the resilience of the overseas economy, tariff developments, and expectations for a rate cut in September, with a focus on technology growth and opportunities for clearing internal competition in the domestic market [4][14][18] - The A-share market is expected to challenge last year's highs, with a strong focus on technology growth and sectors that can benefit from the reduction of internal competition, such as steel, coal, cement, glass, photovoltaic, new energy vehicles, and live pigs [21][4] - The report recommends a diversified portfolio of stocks, including companies in electronics, new energy, power equipment, non-ferrous metals, chemicals, and pharmaceuticals, with specific companies highlighted as top picks [5][12][22] Group 2 - The electronics sector is represented by companies like Zhongji Xuchuang, which is expected to see significant profit growth due to increased demand for high-speed optical modules driven by AI infrastructure [22][23] - The semiconductor industry is recovering, with Tongfu Microelectronics reporting a notable increase in revenue and profit, driven by the resurgence in the consumer electronics market [31][33] - The new energy sector, represented by Qiangrui Technology, is experiencing rapid growth in smart automotive and AI server equipment, indicating strong future growth potential [37][39] Group 3 - The power equipment sector, represented by Xinshi Da, is focusing on industrial automation and robotics, with a strong market position in elevator control systems and a growing presence in the robotics industry [43][44] - The non-ferrous metals sector, represented by Xingye Yinxin, is benefiting from rising prices of silver and tin, with significant production increases and strategic acquisitions to enhance future growth [49][51][54]

Core Points - The company has completed the registration of changes in business operations, specifically regarding the legal representative [1] - Wang Li has been elected as the chairman of the board and is now the legal representative of the company [1] - The new business license reflects the updated legal representative while other registration details remain unchanged [1] Company Information - Company Name: Nantong Jiangshan Pesticide Chemical Co., Ltd [1] - Unified Social Credit Code: 91320600138299113X [1] - Type: Joint-stock company (listed) [1] - Legal Representative: Wang Li [1] - Registered Capital: 430.65 million yuan [1] - Establishment Date: October 18, 1990 [1] - Address: 998 Jiangshan Road, Nantong Economic and Technological Development Zone [1] - Business Scope: Manufacturing and sales of chemical pesticides, organic and inorganic chemicals, polymer materials, and other related products [1]

（编辑 任世碧） 证券日报网讯 7月30日晚间，江山股份发布公告称，公司于2025年7月26日召开了第九届董事会第二十 次会议，会议选举王利先生为公司第九届董事会董事长。根据《公司章程》规定，公司董事长为公司法 定代表人，王利先生自当选为公司董事长之日起为公司法定代表人。公司已于2025年7月29日完成了工 商变更登记，取得了南通市数据局换发的《营业执照》，本次《营业执照》变更仅涉及"法定代表人"， 其他登记信息未变。 ...

南通江山农药化工股份有限公司（以下简称"公司"）于 2025 年 7 月 26 日 召开了第九届董事会第二十次会议，会议选举王利先生为公司第九届董事会董事 长。根据《公司章程》规定，公司董事长为公司法定代表人，王利先生自当选为 公司董事长之日起为公司法定代表人（具体内容详见公司于 2025 年 7 月 29 日在 《中国证券报》、《上海证券报》、上海证券交易所网站披露的《江山股份关于董 事长离任暨选举董事长、聘任名誉董事长、总经理的公告》（临 2025-037））。 公司已于 2025 年 7 月 29 日完成了工商变更登记，取得了南通市数据局换发 的《营业执照》，本次《营业执照》变更仅涉及"法定代表人"，其他登记信息未 变，换发后的《营业执照》所载信息如下： 名称：南通江山农药化工股份有限公司 统一社会信用代码：91320600138299113X 类型：股份有限公司（上市） 法定代表人：王利 注册资本：43065 万元整 证券代码：600389 证券简称：江山股份 公告编号：临 2025—040 南通江山农药化工股份有限公司 关于完成工商变更登记的公告 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 ...

金融界消息 截至2025年7月29日收盘，江山股份（600389）报收于22.71元，上涨0.13%，换手率 1.51%，成交量6.52万手，成交金额1.46亿元。 通过天眼查大数据分析，南通江山农药化工股份有限公司共对外投资了18家企业，参与招投标项目397 次，知识产权方面有商标信息463条，专利信息245条，此外企业还拥有行政许可247个。 资金流向方面，今日主力资金净流出1231.21万元，占比成交额8.42%。其中，超大单净流出1070.19万 元、占成交额7.32%，大单净流出161.02万元、占成交额1.1%，中单净流出流入580.56万元、占成交额 3.97%，小单净流入650.65万元、占成交额4.45%。 来源：金融界 江山股份最新一期业绩显示，截至2025一季报，公司营业总收入17.46亿元、同比增长10.15%，归属净 利润1.56亿元，同比增长89.10%，扣非净利润1.50亿元，同比增长88.29%，流动比率1.357、速动比率 1.095、资产负债率52.11%。 天眼查商业履历信息显示，南通江山农药化工股份有限公司，成立于1990年，位于南通市，是一家以从 事化学原料和化学制品 ...

Core Viewpoint - The pesticide industry is experiencing a prolonged downturn, but recent actions such as the "Zhengfeng Zhijuan" initiative may help reverse the trend and improve market conditions [1][2][4]. Group 1: Industry Actions and Regulations - The China Pesticide Industry Association has launched a three-year "Zhengfeng Zhijuan" action to address issues like hidden additives, illegal production, and chaotic competition in the pesticide industry [1][2]. - Key tasks include prohibiting the addition of unregistered active ingredients, cracking down on illegal production, and resisting low-price competition [2]. Group 2: Market Dynamics - Since Q4 2022, the global pesticide market has entered a destocking phase, with domestic production capacity being released, leading to a mismatch in supply and demand [3][4]. - As of July 27, the China Agricultural Chemicals Price Index was at 75.35 points, showing a year-on-year decline of 0.44% but a month-on-month increase of 0.33% [3]. Group 3: Export Demand and Recovery Potential - In the first half of 2025, China's exports of herbicides, insecticides, and fungicides increased by 14%, 32%, and 24% year-on-year, respectively, with major markets including Brazil, the USA, and Thailand [3]. - Certain pesticide products, such as glyphosate and chlorpyrifos, are expected to see a rebound in demand, aiding in the recovery of industry profitability [4]. Group 4: Investment Recommendations - Recommended stocks include Yangnong Chemical, Limin Co., and Xingfa Group, which are leaders in the pesticide sector [5]. - Beneficiary stocks include Jiangshan Co., Lier Chemical, and Runfeng Co., among others, which are positioned to gain from the industry's recovery [5].

General Principles - The company establishes an insider information management system to regulate insider information and enhance confidentiality, ensuring fair and open information disclosure in accordance with relevant laws and regulations [1][2] - The board of directors is responsible for managing insider information, ensuring the accuracy and completeness of insider information records, with the chairman overseeing confidentiality efforts [1][2] Insider Information and Insiders - Insider information refers to non-public information that significantly impacts the company's operations, finances, or stock prices, as defined by the Securities Law [2][3] - The scope of insider information includes major events that could affect stock trading prices, such as significant asset transactions exceeding 30% of total assets, changes in control, and bankruptcy proceedings [2][3] - Insiders include company directors, senior management, major shareholders, and other individuals who can access insider information due to their roles or relationships with the company [3][4] Registration and Record-Keeping - The company must maintain a record of insiders before public disclosure, including details such as names, positions, and the nature of the insider information [4][5] - Insiders are required to cooperate in maintaining accurate records and must inform the company of any changes in insider status [4][5] Confidentiality Management - All insiders must sign confidentiality agreements to limit the dissemination of insider information before it is publicly disclosed [7][8] - Insiders are prohibited from trading company securities or advising others to trade based on insider information [8][9] - The company must conduct self-checks on insider trading activities and report any violations to regulatory authorities [9][10] Penalties for Violations - Violations of the insider information management system may result in disciplinary actions, including warnings, demotions, or legal consequences [9][10] - The company retains the right to pursue legal action against individuals who disclose insider information without authorization, especially if it results in significant losses [10][11]

Core Viewpoint - The company plans to cancel its supervisory board and amend its articles of association in accordance with the latest regulatory framework and its actual situation, transferring the supervisory functions to the audit committee of the board of directors [1][2]. Summary by Sections Cancellation of Supervisory Board and Amendment of Articles of Association - The decision to cancel the supervisory board and amend the articles of association was made during the 20th meeting of the 9th board of directors on July 26, 2025 [1]. - The supervisory board's functions will be assumed by the audit committee of the board of directors, and related rules will be abolished [1][2]. Reasons for Changes - The changes are in line with the revised Company Law of the People's Republic of China (2023) and related guidelines issued by the China Securities Regulatory Commission [1][2]. - The amendments aim to enhance the company's governance structure [2]. Specific Amendments to Articles of Association - The first article will be revised to include the protection of the rights of employees along with shareholders and creditors [2]. - The role of the legal representative will now be held by the chairman of the board, with specific provisions for the appointment of a new legal representative within 30 days if the chairman resigns [2][3]. - The company will bear civil liability for damages caused by the legal representative while performing their duties, with the right to seek compensation from the representative if they are at fault [3]. - The articles will clarify that shareholders are only liable for the company's debts to the extent of their subscribed shares, while the company is liable for its debts with all its assets [4]. - The amendments will also specify the rights and obligations of shareholders, including the right to sue the company and its directors [5][6]. Governance and Shareholder Rights - The company will ensure that the governance structure is compliant with the latest regulations, enhancing transparency and accountability [2][5]. - Shareholders will retain rights to supervise the company's operations and make inquiries, as well as the right to transfer, gift, or pledge their shares [15][16]. Financial and Operational Guidelines - The company will adhere to principles of fairness and transparency in issuing shares, ensuring equal rights for all shareholders [6][7]. - The company will not provide financial assistance for acquiring its shares, except for employee stock ownership plans [7][8]. Meeting and Voting Procedures - The company will establish clear procedures for convening shareholder meetings and making decisions, ensuring compliance with legal requirements [18][19]. - The board of directors will be responsible for ensuring that all resolutions passed at shareholder meetings are executed in accordance with the law [18][19].

Core Points - The document outlines the management system for the resignation of directors at Nantong Jiangshan Pesticide Chemical Co., Ltd, aiming to ensure stability in corporate governance and protect the rights of shareholders [1][2]. Group 1: General Principles - The resignation management system is based on principles of legality, transparency, smooth transition, and protection of shareholder rights [1]. - The system applies to various resignation scenarios, including term expiration, voluntary resignation, and dismissal [2]. Group 2: Resignation Procedures - Directors must submit a written resignation report, which becomes effective upon receipt by the company [2]. - The company is required to disclose the resignation details within two trading days and complete the re-election of directors within 60 days [2][3]. Group 3: Responsibilities and Obligations - Directors must complete handover procedures within five days of resignation, including transferring relevant documents and responsibilities [4]. - Former directors remain obligated to fulfill any public commitments made during their tenure, even after resignation [4][5]. Group 4: Shareholding Management - Directors are prohibited from transferring their shares within six months post-resignation and must adhere to specific regulations regarding shareholding during their term [6]. - The board secretary is responsible for supervising the shareholding changes of resigned directors and reporting to regulatory authorities if necessary [6].

南通江山农药化工股份有限公司 关联交易管理制度 （2025年修订） 第一章 总则 第一条 为规范南通江山农药化工股份有限公司（以下简称"公司"）关联 交易行为，保证公司与各关联方所发生的关联交易合法、公允、合理，保护股东 和公司的合法权益，依据《中华人民共和国公司法》《中华人民共和国证券法》 《上海证券交易所股票上市规则》《上海证券交易所上市公司自律监管指引第5 号—交易与关联交易》等法律、法规、规范性文件以及《南通江山农药化工股份 有限公司章程》（以下简称《公司章程》）等规定，制定本制度。 第二条 本公司与关联人发生的关联交易应当遵循以下基本原则： （一）诚实信用、公允性原则； （二）平等、自愿、等价、有偿的原则； （三）公平、公正、公开的原则，关联交易的价格原则上应不偏离市场独立 第三方的标准，对于难以比较市场价格或定价受到限制的关联交易，应通过合同 明确有关成本和利润的标准； （四） 有利于公司的经营和发展的原则。本公司董事会应当根据客观标准 判断该关联交易对本公司是否有利，必要时应当聘请独立财务顾问或专业评估机 构。 第二章 关联人及关联交易 第三条 公司的关联人包括关联法人和关联自然人。 第四条 具 ...