Fertilizers & Agricultural Chemicals

DuPont de Nemours, Chemours and Corteva have agreed to pay $455 million to settle PFAS contamination claims in North Carolina, including discharges tied to the Fayetteville Works manufacturing site. The settlement resolves lawsuits brought by the state and 11 local governments near the plant, and also covers certain statewide claims involving PFAS contamination from other sources, including firefighting foam. Payments will be made over 15 years, beginning within 30 days of the agreement's execution, and the companies estimated the payments have a combined net present value of about $355 million. Of the $455 million total, $18 million is attributed to contamination allegations not connected to Fayetteville Works, with no more than $14.4 million of that amount relating to aqueous film-forming foam, or AFFF. DuPont's pre-tax share has a present value of about $126 million, with 44%, or roughly $55 million, to be reimbursed by Qnity Electronics, leaving DuPont with an effective share of about $71 million before taxes and other adjustments; DuPont said its portion is largely covered by existing reserves. The agreement remains subject to the dismissal of the covered lawsuits, and the companies said PFAS remains a continuing legal risk, citing pending or potential personal-injury cases, natural-resource damage claims, remediation obligations and changing environmental regulations.

Shandong Hualu Hengsheng Chemical announced that starting September 8, 2026, it will shut down a coal gasification unit and some product production units for maintenance, expected to take about 20 days. This will affect the company's operating revenue by approximately 230 million yuan, accounting for 0.69% of the full-year revenue budget. The company said the maintenance is part of its annual plan and will not affect completion of the 2026 production plan.

After Huachang Chemical disclosed its detailed equity change report for the control acquisition, the share price staged a one-day wonder, falling 9.69 percent on September 3 to close at 6.43 yuan per share, approaching the transfer price of 6.18 yuan per share. The acquirer's actual controller Cheng Renjie's core industrial platform Xuanli Environmental Protection has a debt-to-asset ratio of nearly 70 percent, interest-bearing debt of nearly 5 billion yuan, and net profit halved, yet it is expected to support a cash acquisition of 1.413 billion yuan, raising doubts about the source of funds. Jiangsu Ruihua Charitable Foundation contributed 300 million yuan to participate in the acquisition, but its investment decision-making procedures and compliance have not been disclosed. In addition, the listed company's supplier Bai Pingnv contributed 300 million yuan to become an indirect shareholder, and the fairness of related-party transactions under her dual identity remains to be observed. The transaction still needs to pass five approval procedures, with a closing deadline of October 31, 2026.

OCI Global N.V. has received a petition from Value8 N.V. seeking an inquiry into its affairs and interim measures that could block a shareholder vote on its proposed combination with Orascom Construction PLC. The company, which trades on Euronext as OCI, says the petition largely repeats allegations from ongoing proceedings and believes it is without merit. OCI is reviewing the petition with legal advisers and will respond through appropriate channels, while reaffirming its focus on executing its announced strategy and previously communicated transactions.

Hailir released its 2026 interim report. The company's total operating revenue was 2.174 billion yuan, down 16.67% from the same period last year. Net profit attributable to the parent company was 124 million yuan, down 38.40% year-on-year. Net cash flow from operating activities was negative 136 million yuan, a decrease of 21.3635 million yuan compared with the same period last year. The company's latest asset-liability ratio was 49.66%, gross margin was 25.72%, ROE was 3.48%, and diluted earnings per share was 0.35 yuan, down 40.68% year-on-year.

*ST Haili released its 2026 interim report. As of June 30, total operating revenue was 136 million yuan, and net profit attributable to the parent company was 11.4538 million yuan, down 6.7811 million yuan from the same period last year, a year-on-year decline of 37.19%. Net cash inflow from operating activities was 22.5491 million yuan, down 40.85% year on year. The asset-liability ratio was 29.57%, up 24.06 percentage points from the same period last year. Gross margin was 61.72%, down 15.39 percentage points from the same period last year. Return on equity was 1.28%, and diluted earnings per share was 0.02 yuan, down 37.59% year on year. The company had 28,700 shareholders, and the top ten shareholders held 42.36% of total share capital.

Sino-Agri United released its 2026 interim report. Total operating revenue was 1.146 billion yuan, up 7.69% year on year, but net profit attributable to the parent company was a loss of 42.3243 million yuan, swinging from profit to loss compared with the same period last year, a decline of 1,418.64%. Net cash flow from operating activities was a negative 30.3316 million yuan, an improvement of 18.1206 million yuan year on year. The company's asset-liability ratio was 70.10%, gross margin was 12.13%, return on equity was negative 3.59%, and diluted earnings per share was negative 0.30 yuan. Total asset turnover was 0.29 times, and inventory turnover was 1.73 times. The number of shareholders was 18,300, and the top ten shareholders held 56.02% of total share capital.

Fengshan Group disclosed its 2026 semi-annual report on August 28. In the first half, total operating revenue reached 782 million yuan, up 26.33% year on year, but net profit attributable to the parent was 18.7715 million yuan, down 38.08% year on year. The company plans to distribute a cash dividend of 0.61 yuan per 10 shares, tax included, to all shareholders. During the reporting period, net cash flow from operating activities was negative 97.7766 million yuan, compared with negative 156 million yuan in the same period last year. As of the end of the first half, the company's inventory book value was 322 million yuan, accounting for 19.88% of net assets.

ENN Natural Gas released its 2026 interim report on August 28. During the reporting period, the company achieved operating revenue of 63.99 billion yuan, down 3.03 percent year on year. Net profit attributable to the parent company was 2.088 billion yuan, down 13.29 percent. Non-GAAP net profit was 1.742 billion yuan, down 27.86 percent. Total gas sales reached 20.467 billion cubic meters, up 0.7 percent year on year, but throughput at the Zhoushan receiving terminal fell sharply by 50.3 percent to 564,800 tonnes, dragging down the infrastructure segment. The earnings decline was mainly affected by high international LNG spot prices, upstream cost fluctuations, and changes in the fair value of derivatives. Fair value changes posted a loss of 888 million yuan, while finance expenses fell 76.39 percent due to reduced foreign exchange gains, partially offsetting the profit decline. The company said natural gas consumption is expected to stabilize and recover going forward, but attention should be paid to international gas price trends and the efficiency of cost pass-through mechanisms.

Kingenta released its 2026 interim report. The company's total operating revenue was 5.953 billion yuan, up 24.05% year-on-year, but net profit attributable to the parent was negative 497 million yuan, a decrease of 419 million yuan compared with the same period last year, with the loss widening. Net cash inflow from operating activities was 145 million yuan, down 58.40% year-on-year. The company's asset-liability ratio rose to 86.30%, gross margin fell to 11.14%, and ROE was negative 30.44%. The number of shareholders was 147,900, and the top ten shareholders held 37.86% of the shares.

Lier Chemical released its 2026 interim report. The company's total operating revenue was 4.816 billion yuan, up 6.86% year-on-year, while net profit attributable to the parent was 250 million yuan, down 7.77% year-on-year. Net cash flow from operating activities was negative 35.0103 million yuan, down 110.99% year-on-year. The company's asset-liability ratio was 45.72%, gross margin was 19.05%, ROE was 3.13%, and diluted earnings per share was 0.31 yuan. The number of shareholders was 43,100, and the top ten shareholders held 49.19% of the total share capital.

Fengshan Group released its 2026 interim report, with total operating revenue of 782 million yuan and net profit attributable to the parent company of 18.7715 million yuan, down 38.08% from the same period last year, a decrease of 11.5423 million yuan. Net cash flow from operating activities was negative 97.7766 million yuan. The company's asset-liability ratio was 44.76%, gross margin was 13.95%, return on equity was 1.16%, and diluted earnings per share was 0.11 yuan. The number of shareholders was 9,383, and the top ten shareholders held 53.01% of the total share capital.

Sino-Agri Leading Biosciences released its 2026 interim report. Total operating revenue was 6.823 billion yuan, up 1.15% year-on-year. Net profit attributable to the parent company was 124 million yuan, down 12.70% year-on-year. Net cash inflow from operating activities was 187 million yuan, an increase of 1.361 billion yuan year-on-year. The asset-liability ratio was 73.06%, gross margin was 5.74%, return on equity was 7.76%, and diluted earnings per share was 0.46 yuan. Total asset turnover was 1.19 times, and inventory turnover was 3.93 times. The number of shareholders was 12,000, and the top ten shareholders held 65.49% of total share capital.

Kingenta released its 2026 interim report, with operating revenue of 5.953 billion yuan for the period, up 24.05% year on year, but net profit attributable to the parent company was negative 497 million yuan, with the loss widening 534.47% year on year. Net profit after deducting non-recurring items was negative 96 million yuan, with the loss widening 64.67%. Phosphate fertilizer business revenue was 1.918 billion yuan, up 61.66% year on year, becoming the core engine of revenue growth, but overall gross margin was only 11.14%, down slightly by 0.67 percentage points year on year. The main reason for the loss was a subsidiary's provision of approximately 413 million yuan in phosphogypsum disposal costs, causing administrative expenses to surge 208.83% to 652 million yuan. Net cash flow from operating activities was 145 million yuan, down 58.40% year on year, putting pressure on the capital chain. The company faces risks including raw material price fluctuations, phosphogypsum disposal cost pressure, and intensifying industry competition.

Qianjiang Biochemical released its 2026 interim report. During the reporting period, the company's total operating revenue was 733 million yuan, a decrease of 46.4176 million yuan compared with the same period last year, down 5.95% year-on-year. Net profit attributable to the parent company was 77.7648 million yuan, a decrease of 29.3552 million yuan compared with the same period last year, down 27.40% year-on-year. Net cash inflow from operating activities was 5.2746 million yuan, a sharp year-on-year decline of 95.02%. The company's asset-liability ratio was 49.88%, and its gross margin was 27.86%, achieving six consecutive years of growth. ROE was 2.23%, and diluted earnings per share was 0.09 yuan. The number of shareholders was 25,200, and the top ten shareholders held 76.87% of the total share capital.

Lanfeng Biochemical released its 2026 interim report on August 25. Relying on a coordinated dual-main-business strategy of new energy plus agrochemicals, the company saw its photovoltaic module business ramp up to offset a decline in solar cell revenue, while core products in the agrochemical segment posted higher volumes and prices. However, due to a sharp increase in share-based payment expenses and foreign exchange losses, the reporting period showed higher revenue but lower profit. Financial data show that during the reporting period the company achieved operating revenue of 1.261 billion yuan, up 5.39 percent year on year. Net profit attributable to the parent company was negative 60 million yuan, with the loss widening by 33.55 percent. Net profit after deducting non-recurring items was negative 55 million yuan, with the loss widening by 18.06 percent. Net cash flow from operating activities was negative 1.1394 million yuan, narrowing sharply by 99.15 percent year on year. In terms of business structure, new energy photovoltaic revenue accounted for 73.26 percent of total revenue, reaching 924 million yuan, a slight decline of 0.24 percent year on year. Within this, revenue from N-type high-efficiency SNP module business grew 54.71 percent year on year to 587 million yuan, effectively offsetting the impact of a 36.38 percent year-on-year decline in solar cell revenue. The agrochemical segment achieved revenue of 337 million yuan, up 24.65 percent year on year, with gross margin rising 6.52 percentage points to 7.04 percent. Revenue from core pesticide technical materials and formulation products grew 55.32 percent year on year. The widening net loss mainly stemmed from a surge in period expenses. Selling expenses and administrative expenses rose 52.97 percent and 24.09 percent year on year respectively, mainly due to a substantial increase in share-based payment expenses. Financial expenses rose 83.02 percent year on year, affected by increased foreign exchange losses. Research and development investment fell 41.18 percent year on year.

Sino-Agri Leading Biosciences disclosed its semi-annual report on August 26. In the first half of 2026, it achieved operating revenue of 6.823 billion yuan, up 1.15% year on year. Net profit attributable to shareholders of the listed company was 124 million yuan, down 12.7% year on year. Basic earnings per share were 0.4618 yuan. During the reporting period, pesticide exports increased slightly.