登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性陈述或重大遗 漏。 一、股票交易异常波动的情况 利尔化学股份有限公司（以下简称"公司"、"本公司"、"利尔化学"）股票（证券简称：利尔化学；证券 代码：002258）于 2025年 4月7日连续1个交易日累计偏离超过 20%。根据《深圳证券交易所交易规 则》的相关规定，属于股票交易异常波动的情形。 二、股票交易异常波动的说明 针对公司股票交易异常波动，经向公司管理层、董事会、公司控股股东就相关问题进行了必要的核实， 公司说明如下： 1、公司前期披露的信息不存在需要重大补充、更正之处。 2、公司未发现近期公共传媒报道了可能或已经对本公司股票交易价格产生较大影响的未公开重大信 息。 3、公司近期生产经营情况正常，内外部经营环境未发生重大变化。公司已于 2025年4月4日在《中国证 券报》及巨潮资讯网（www.cninfo.com.cn）上披露了公司《2025年第一季度业绩预告》（公告编号： 2025-014），2025年第一季度，归属于上市公司股东的净利润比上年同期增长：203.08%- ...

Investment Rating - The report maintains an "Outperform" rating for the company [5][3]. Core Views - The global agricultural chemical destocking cycle is nearing its end, leading to a gradual stabilization in the company's revenue and profit levels. The company reported a revenue of 7.311 billion yuan in 2024, a decrease of 6.87% year-on-year, and a net profit of 215 million yuan, down 64.34% year-on-year. However, the company achieved a net profit of 83 million yuan in Q4 2024, marking a year-on-year increase of 89.94% and a quarter-on-quarter increase of 113.98% [1][31][32]. - The demand for refined glyphosate is rapidly growing, and the company is accelerating its overseas formulation registrations. The company has completed registrations in eight countries and reported a significant increase in exports of glyphosate derivatives [2][38]. - The company is deepening cooperation with major clients and plans to acquire equity in Shandong Huimeng, which is expected to enhance its chlorinated pyridine and glyphosate business [3][43]. Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 73.11 billion yuan, a decrease of 6.87% year-on-year, and a net profit of 2.15 billion yuan, down 64.34% year-on-year. The basic earnings per share were 0.27 yuan. The gross profit margin was 16.06%, down 7.28 percentage points year-on-year, and the net profit margin was 4.08%, down 5.69 percentage points year-on-year [31][32]. - The company expects net profits for Q1 2025 to be between 145 million and 155 million yuan, representing a year-on-year increase of 203.08% to 223.98% [32]. Market Dynamics - The agricultural chemical industry is transitioning from a destocking phase to a period of overcapacity, with many agricultural products experiencing price declines. The company is positioned to benefit as the destocking cycle concludes [21][23]. - The refined glyphosate market is expanding, with the company’s subsidiary achieving a net profit of 42.48 million yuan in 2024, demonstrating resilience in a challenging market [2][38]. Strategic Initiatives - The company has established a joint venture with its largest client, achieving significant revenue and profit margins that exceed the company's overall performance [3][41]. - The planned acquisition of Shandong Huimeng is expected to create synergies in the chlorinated pyridine and glyphosate supply chains, enhancing the company's competitive position [43]. Future Outlook - The company forecasts a gradual recovery in profits, with expected net profits of 4.02 billion, 5.19 billion, and 6.43 billion yuan for 2025, 2026, and 2027, respectively [3][5].

证券代码：002258 股票简称：利尔化学 公告编号：2025-015 利尔化学股份有限公司 股票交易异常波动公告 本公司及董事会全体成员保证信息披露内容的真实、准 确和完整，没有虚假记载、误导性陈述或重大遗漏。 一、股票交易异常波动的情况 利尔化学股份有限公司（以下简称"公司"、"本公司"、"利尔化 学"）股票（证券简称：利尔化学；证券代码：002258）于 2025 年 4 月 7 日连续 1 个交易日累计偏离超过 20%。根据《深圳证券交易 所交易规则》的相关规定，属于股票交易异常波动的情形。 二、股票交易异常波动的说明 针对公司股票交易异常波动，经向公司管理层、董事会、公司控 股股东就相关问题进行了必要的核实，公司说明如下： 1、公司前期披露的信息不存在需要重大补充、更正之处。 2、公司未发现近期公共传媒报道了可能或已经对本公司股票交 易价格产生较大影响的未公开重大信息。 3、公司近期生产经营情况正常，内外部经营环境未发生重大变 化。公司已于 2025 年 4 月 4 日在《中国证券报》及巨潮资讯网 （www.cninfo.com.cn）上披露了公司《2025 年第一季度业绩预告》 （公告编号：202 ...

Core Viewpoint - In 2024, Lier Chemical reported a decline in revenue and net profit, primarily due to the continuous drop in the price of glyphosate, which has significantly impacted the company's financial performance [1][2][3] Financial Performance - In 2024, the company achieved operating revenue of 7.311 billion yuan, a year-on-year decrease of 6.9% [1] - The net profit attributable to shareholders was 215 million yuan, down 64.3% year-on-year, while the net profit after deducting non-recurring gains and losses was 201 million yuan, a decline of 66.4% [1] - The gross profit margin was 16.1%, down 7.3 percentage points year-on-year, and the net profit margin was 4.1%, down 5.7 percentage points year-on-year [1] - The return on equity (ROE) was 2.8%, a decrease of 5.5 percentage points year-on-year [1] - In Q4 2024, the company reported a revenue of 2.12 billion yuan, an increase of 15.1% year-on-year, and a net profit of 83 million yuan, up 89.9% year-on-year [1][2] Product Segment Performance - The pesticide raw materials segment generated revenue of 4.101 billion yuan, down 14.5% year-on-year, despite a sales volume increase of 7.7% [2] - The pesticide formulation segment saw revenue of 1.5 billion yuan, a decrease of 9.4% year-on-year, with a sales volume increase of 16.1% [2] - The pesticide intermediates segment experienced a revenue increase of 42.5% year-on-year, reaching 779 million yuan, driven by changes in the weight of different priced intermediates [2] Market Conditions - The pesticide industry did not show significant recovery in 2024, with intense market competition and most pesticide product prices remaining at low levels [3] - The average price of glyphosate in 2024 was 54,000 yuan per ton, a decrease of 34% year-on-year, continuing a downward trend since 2021 [3] Cost Management and Project Development - The company has optimized existing product processes to reduce costs and enhance efficiency, improving the competitiveness of older products [4] - The company is actively advancing the construction of a 10,000-ton/year glyphosate project and has completed registration for glyphosate formulations in eight countries [4] Shareholder Returns - The company plans to distribute a cash dividend of 2 yuan per 10 shares, totaling approximately 160 million yuan, which represents 74.34% of the net profit attributable to shareholders [5] - This move is aimed at enhancing shareholder returns and improving the company's competitive position in the industry [5] Future Outlook - Revenue forecasts for 2025, 2026, and 2027 are projected at 7.349 billion, 8.110 billion, and 8.755 billion yuan, respectively, with net profits of 420 million, 567 million, and 738 million yuan [6]

Financial Performance - The company expects a net profit attributable to shareholders of 145 million to 155 million yuan, representing a year-on-year increase of 203.08% to 223.98% compared to 47.84 million yuan in the same period last year[2] - The net profit after deducting non-recurring gains and losses is projected to be 143 million to 153 million yuan, reflecting a year-on-year growth of 281.41% to 308.09% from 37.49 million yuan last year[2] - Basic earnings per share are estimated to be between 0.1812 yuan and 0.1936 yuan, compared to 0.0598 yuan per share in the same period last year[2] Sales Performance - The increase in performance is attributed to the rise in sales volume and prices of certain products during the reporting period[5]

基础化工 | 证券研究报告 — 调整盈利预测 2025 年 4 月 3 日 002258.SZ 买入 原评级：买入 市场价格:人民币 8.81 板块评级:强于大市 股价表现 (%) 今年 至今 1 个月 3 个月 12 个月 绝对 8.9 6.8 6.5 (4.6) 相对深圳成指 4.8 7.8 5.7 (13.4) 发行股数 (百万) 800.44 流通股 (百万) 799.15 总市值 (人民币 百万) 7,051.85 3 个月日均交易额 (人民币 百万) 81.88 主要股东持股比例（%） (29%) (19%) (9%) 0% 10% 20% Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 利尔化学 深圳成指 业绩短期承压，精草铵膦产能布局推进 资料来源：公司公告， Wind ，中银证券 以 2025 年 4 月 1 日收市价为标准 中银国际证券股份有限公司 具备证券投资咨询业务资格 基础化工：农化制品 证券分析师：余嫄嫄 (8621)20328550 yuanyuan.yu@bo ...

Investment Rating - The report maintains an "Accumulate" rating for the company [6]. Core Views - The company's performance in 2024 was under pressure due to a significant decline in the price of glyphosate, resulting in a year-on-year revenue decrease of 6.87% to 7.311 billion yuan and a net profit drop of 64.34% to 215 million yuan [1][2]. - Despite the challenges, the company is steadily advancing its capacity construction and optimizing production processes, which is expected to enhance competitiveness [3]. - The report projects an increase in net profit for 2025-2027, with estimates of 460 million yuan for 2025, 506 million yuan for 2026, and 668 million yuan for 2027, reflecting a significant upward revision in profit forecasts [3]. Summary by Sections Financial Performance - In 2024, the company achieved operating revenue of 7.311 billion yuan, down 6.87% year-on-year, and a net profit of 215 million yuan, down 64.34% year-on-year. The fourth quarter showed improvement with revenue of 2.123 billion yuan, up 15.10% year-on-year, and net profit of 83 million yuan, up 89.94% year-on-year [1][2]. - The revenue from pesticide raw materials was 4.101 billion yuan, down 14.45%, while pesticide formulations generated 1.500 billion yuan, down 9.42%. However, pesticide intermediates saw a revenue increase of 42.49% to 779 million yuan [2]. Capacity and Production - As of the end of 2024, the company had a raw material capacity of 86,320 tons per year with a utilization rate of 94.40%, and a formulation capacity of 81,200 tons per year with a utilization rate of 85.95% [2]. - The company is actively expanding its production capacity for refined glyphosate and optimizing production processes to reduce costs and improve efficiency [3]. Market Outlook - The average market price of glyphosate in China was 54,300 yuan per ton in 2024, a decrease of 34.2% year-on-year, and further declined to 45,500 yuan per ton by March 28, 2025 [2]. - The report indicates that the decline in glyphosate prices has slowed, leading to an upward revision of profit forecasts for 2025-2027 [3].

Core Viewpoint - Lier Chemical's 2024 annual report shows disappointing performance, with revenue and net profit falling significantly below analyst expectations [1][2] Financial Performance - Total revenue for 2024 reached 7.311 billion yuan, a year-on-year decrease of 6.88% [2] - Net profit attributable to shareholders was 215 million yuan, down 64.34% year-on-year, compared to analyst expectations of approximately 237 million yuan [2] - Gross margin was 16.06%, a decline of 31.18%, marking the lowest level in 20 years [2] - Net margin stood at 4.08%, down 58.23% year-on-year [2] - Total operating cash flow per share was 0.39 yuan, a decrease of 66.7% [2] Market Conditions - The decline in performance is attributed to intensified competition in the core product, glyphosate, leading to price drops and reduced gross margins [3] - Despite an increase in pesticide raw material sales, the significant drop in sales prices has negatively impacted overall performance [3] Acquisition Plans - Lier Chemical aims to enhance its competitive edge through the acquisition of Shandong Huimeng, focusing on industry chain integration [4] - However, uncertainties surround the acquisition due to Shandong Huimeng's ongoing environmental assessments and governance issues [4][5] - Legal disputes involving Shandong Huimeng's actual controller may hinder the acquisition process [4][5] Financing Activity - On March 28, Lier Chemical recorded a net repayment of 6.9938 million yuan in financing, the highest net repayment since December 2, 2024 [6] - The company also experienced a net repayment of 43,200 shares in securities lending over the past five trading days [6]

Core Points - The company, Lier Chemical Co., Ltd., announced the holding of a 2024 annual performance briefing to provide investors with a deeper understanding of its 2024 annual report [1][2] - The briefing will be conducted online, allowing investors to participate via the Shenzhen Stock Exchange's "Interactive Easy" platform [1] - Key personnel attending the briefing include the Chairman, independent director, Deputy General Manager, and Chief Financial Officer [1] - The company is soliciting questions from investors in advance to enhance the relevance of the discussion during the briefing [1][2] - Investors are encouraged to submit their questions within five trading days prior to the event [2]

本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 利尔化学股份有限公司（以下简称"公司"）已于2025年3月28日 在巨潮资讯网（www.cninfo.com.cn）上披露了《2024年年度报告》。 为使投资者更深入、全面地了解公司2024年度报告的内容，公司拟于 2025年4月9日（星期三）15:00-17:00举行2024年度网上业绩说明会。 本次年度业绩说明会将采用网络远程的方式举行，投资者可登陆 深圳证券交易所"互动易"平台（http://irm.cninfo.com.cn），进入"云 访谈"栏目参与本次年度业绩说明会。 公司拟出席本次年度业绩说明会的人员有：公司董事长尹英遂先 生，独立董事马毅先生，副总经理、董事会秘书刘军先生，财务负责 人、财务总监颜宣先生。（如有特殊情况，参会人员可能进行调整。） 证券代码：002258 证券简称：利尔化学 公告编号：2025-013 利尔化学股份有限公司 关于举行 2024 年度业绩说明会的公告 2025 年 4 月 1 日 为充分尊重投资者、提升交流的针对性，现就公司2024年度业绩 说明会提前向投资者公开征集问 ...