Investment Rating - Industry Rating: Outperform the Market (upgraded from Neutral) [5] Core Insights - The US has imposed a 50% tariff on Indian imports, which may impact the pesticide industry significantly [12] - India is the world's third-largest producer and exporter of agricultural chemicals, with a production capacity of 389,000 tons and an output of 258,000 tons in 2022-23 [2][13] - The global pesticide formulation export value is projected to be approximately $39.5 billion in 2024, with India contributing $4.142 billion, making it the third-largest exporter [2][23] - The export structure of Indian pesticides shows that herbicides account for 39% of export value, while fungicides account for 43% of export volume [2][23] - From FY 2014-15 to FY 2023-24, India's pesticide export value has grown at a compound annual growth rate (CAGR) of 12.6%, while imports have grown at a slower pace of 7.7% [31] Summary by Sections Section 1: US Tariffs on Indian Imports - The US has announced a 25% tariff on Indian imports, which will be effective from August 7, 2023, leading to a total tariff rate of 50% [12] Section 2: India's Agricultural Chemical Industry - India ranks as the fourth-largest agricultural chemical producer globally, with a significant focus on exports [2][23] - The production structure is dominated by insecticides and fungicides, which account for 47% and 34% of total production capacity, respectively [13] Section 3: US Pesticide Imports - The US heavily relies on China and India for pesticide imports, with China exporting $9 billion and India $4.1 billion in 2024 [3][34] - The US's dependence on Indian imports includes 77% of certain insecticides and 90% of specific fungicides [4][44] Section 4: Recommended Stocks - Key recommendations include Yangnong Chemical and Runfeng Co., with expected net profits of 1.47 billion, 1.78 billion, and 2 billion yuan for Yangnong from 2025 to 2027 [56] - Runfeng Co. is projected to achieve net profits of 1.26 billion, 1.41 billion, and 1.59 billion yuan in the same period [57]

格隆汇8月7日丨润丰股份(301035.SZ)公布，公司总裁沈婕女士持有润丰股份72,130股(占公司剔除回购 股份后总股本比例0.0259%)，计划在减持计划预披露公告之日起十五个交易日后的三个月内(窗口期不 减持)，以集中竞价方式减持公司股份不超过18,033股(不超过公司剔除回购股份后总股本比例 0.0065%)。 公司财务总监、董事会秘书邢秉鹏先生持有润丰股份102,337股(占公司剔除回购股份后总股本比例 0.0368%)，计划在减持计划预披露公告之日起十五个交易日后的三个月内(窗口期不减持)，以集中竞价 方式减持公司股份不超过25,584股(不超过公司剔除回购股份后总股本比例0.0092%)。 ...

Group 1 - The company announced that its president, Shen Jie, holds 72,130 shares, accounting for 0.0259% of total shares, and plans to reduce holdings by up to 18,033 shares, which represents 0.0065% of total shares, within three months after fifteen trading days from the announcement [1] - The company's CFO and board secretary, Xing Bingpeng, holds 102,300 shares, representing 0.0368% of total shares, and intends to reduce holdings by up to 25,584 shares, which is 0.0092% of total shares, during the same period [1]

证券代码：301035 证券简称：润丰股份 公告编号：2025-036 山东潍坊润丰化工股份有限公司 关于高级管理人员减持股份的预披露公告 公司高级管理人员沈婕、邢秉鹏保证向本公司提供的信息内容真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 截至本公告日，上述股东持有公司股份情况如下： 单位：股 | 姓名 | 任职情况 | 持有股份 | 占公司总 | 持有有限售条 | 持有无限售条 | | --- | --- | --- | --- | --- | --- | | | | 总数量 | 股份比例 | 件股份数量 | 件股份数量 | - 1 - 1、山东潍坊润丰化工股份有限公司（以下简称"公司"、"润丰股份"或 "发行人"）总裁沈婕女士持有润丰股份 72,130 股（占公司剔除回购股份后总 股本比例 0.0259%），计划在本减持计划预披露公告之日起十五个交易日后的三 个月内（窗口期不减持），以集中竞价方式减持公司股份不超过 18,033 股(不 超过公司剔除回购股份后总股本比例 0.0065%)。 2、公司财务总监、董事会 ...

关于归还暂时补充流动资金的闲置募集资金的公告 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 山东潍坊润丰化工股份有限公司（以下简称"公司"）于 2024 年 8 月 8 日 召开第四届董事会第二十次会议、第四届监事会第二十次会议，审议通过《关于 使用部分闲置募集资金暂时补充流动资金的议案》。为提高募集资金使用效率， 降低公司财务成本，促进经营业务发展，在遵循股东利益最大化的原则并保证募 集资金投资项目建设资金需求的前提下，公司使用不超过 40,000 万元暂时闲置 募集资金补充流动资金，用于公司主营业务相关的生产经营，使用期限自公司董 事会审议通过之日起不超过 12 个月。具体内容详见 2024 年 8 月 8 日公司于巨潮 资讯网（http://www.cninfo.com.cn）刊登的《关于使用部分闲置募集资金暂时 补充流动资金的公告》。 证券代码：301035 证券简称：润丰股份 公告编号：2025-035 山东潍坊润丰化工股份有限公司 董事会 2025 年 8 月 4 日 自公司董事会审议通过后，公司实际使用闲置募集资金补充流动资金的金额 为 314, ...

Market Performance - The agricultural chemical sector increased by 0.36% on August 4, with Bai'ao Chemical leading the gains [1] - The Shanghai Composite Index closed at 3583.31, up 0.66%, while the Shenzhen Component Index closed at 11041.56, up 0.46% [1] Top Gainers in Agricultural Chemicals - Bai'ao Chemical (603360) closed at 21.09, up 5.24% with a trading volume of 217,900 shares and a turnover of 457 million [1] - Limin Co., Ltd. (002734) closed at 21.27, up 4.93% with a trading volume of 578,200 shares and a turnover of 1.204 billion [1] - Other notable gainers include ST Huifeng (002496) at 1.70 (+2.41%), Guomi Co., Ltd. (002749) at 15.51 (+2.38%), and Stanley (002588) at 9.17 (+2.34%) [1] Top Losers in Agricultural Chemicals - Yab Chemical (300261) closed at 8.42, down 2.66% with a trading volume of 758,800 shares and a turnover of 631 million [2] - Hongtaiyang (000525) closed at 7.03, down 1.68% with a trading volume of 269,200 shares and a turnover of 189 million [2] - Other notable losers include Hualu Hengsheng (600426) at 23.48 (-1.51%) and Xin'an Chemical (600596) at 9.87 (-1.30%) [2] Capital Flow Analysis - The agricultural chemical sector saw a net inflow of 37.9765 million from institutional investors, while retail investors experienced a net outflow of 4.3928 million [2] - Limin Co., Ltd. (002734) had a significant net inflow of 98.972 million from institutional investors, but a net outflow of 78.3473 million from retail investors [3] - Bai'ao Chemical (603360) also experienced a net inflow of 58.5788 million from institutional investors, with a net outflow of 12.7147 million from retail investors [3]

润丰股份（SZ 301035，最新价：64.06元）8月1日晚间发布公告称，截至2025年7月31日，公司通过股 份回购专用证券账户以集中竞价交易方式累计回购公司股份约250万股，占公司目前总股本的0.89%， 最高成交价为51.5元/股，最低成交价格为46.96元/股，成交总金额约为1.25亿元。 （文章来源：每日经济新闻） 2024年1至12月份，润丰股份的营业收入构成为：化工行业占比100.0%。 ...

Group 1 - The company, Runfeng Co., announced on the evening of August 1 that it has repurchased a total of 2,497,945 shares through a special securities account via centralized bidding, which accounts for 0.89% of the company's current total share capital [2]

格隆汇8月1日丨润丰股份(301035.SZ)公布，截至2025年7月31日，公司通过股份回购专用证券账户以集 中竞价交易方式累计回购公司股份2,497,945股，占公司目前总股本的0.89%，最高成交价为51.50元/ 股，最低成交价格为46.96元/股，成交总金额为1.25亿元(不含交易费用)。 ...

格隆汇8月1日丨润丰股份(301035.SZ)公布，截至2025年7月31日，公司通过股份回购专用证券账户以集 中竞价交易方式累计回购公司股份2,497,945股，占公司目前总股本的0.89%，最高成交价为51.50元/ 股，最低成交价格为46.96元/股，成交总金额为1.25亿元(不含交易费用)。 ...