SDIC Fengle Seed Co., Ltd.
000713.SZ · SHZ
Company research
SDIC Fengle Seed Co., Ltd. (000713.SZ), listed on the Shenzhen Stock Exchange, is a China-based agricultural company founded in 1997 and headquartered in Hefei, Anhui Province, operating as the first listed seed company in China's seed industry. The company engages in the research, development, production, and sale of seeds, agrochemicals, and spice products, with its seed portfolio spanning hybrid rice, hybrid and silage corn, conventional rice, wheat, rape, watermelon, melon, and vegetable seeds. Its agrochemical segment offers a broad range of pesticides, fertilizers, herbicides, fungicides, insecticides, and seed coating agents, including technical active ingredients such as quizalofop-p-ethyl and nicosulfuron-methyl, while its fragrance division produces natural mint series, synthetic cooling agents, and various fragrance formulations. With approximately 1,461 full-time employees and a market capitalization of approximately CNY 3.56 billion, SDIC Fengle Seed operates under the ultimate control of the State-owned Assets Supervision and Administration Commission of the State Council following Guotou Seed Industry Technology Co., Ltd. becoming its controlling shareholder in April 2024.
Research reports
Sector weekly on agricultural products and livestock that discusses cycle dynamics across pig, poultry, dairy and beef, and includes a valuation table where 国投丰乐 (000713.SZ) is rated “优于大市” with forecast EPS of 0.12, 0.36 and 0.48 for 2025–2027 and corresponding PE multiples of 65, 22 and 16, implying a constructive view on the stock within the planting/seed chain. The report highlights weather risk and animal disease risk for the sector as key uncertainties while recommending selected agriculture names expected to benefit from improving fundamentals and cyclical recovery.
国信证券股份有限公司（Guosen Securities） · June 8, 2026农林牧渔2026年6月投资策略：看好牧业大周期反转，农产品新季或面临厄尔尼诺扰动Monthly strategy note on the agriculture and livestock sector that lays out a bullish thesis on a major upcycle in meat and dairy and identifies key thematic beneficiaries; within the “种植链推荐” basket, 国投丰乐 (000713.SZ) is explicitly recommended alongside海南橡胶和隆平高科, supported by EPS and PE forecasts showing improving profitability as grain prices and transgenic policy trends converge. The report frames sector-wide risks around adverse weather (including potential El Niño impacts) and uncontrollable animal epidemics, but maintains an “优于大市” stance on the sector and on 国投丰乐 as part of the preferred planting/seed chain allocation.
国信证券股份有限公司（Guosen Securities） · November 6, 2025国投丰乐（000713.SZ）2025三季报点评：短期行业景气低迷，Q3末合同负债同比基本持平Company-specific 3Q25 earnings review that details how 2025年前三季收入15.26亿元同比下降11.33%、归母净利润为-0.91亿元同比下降27.67%， attributing the weakness to oversupply and intensified competition in corn seeds, weaker-than-expected protection of the 铁391K市场以及农化业务景气压力与产品结构调整. Despite cutting 2025–2026E net profit forecasts from 1.30/1.85亿元 to 0.76/1.17亿元 and introducing a 2027E forecast of 1.44亿元 with EPS 0.12/0.19/0.23 and corresponding PE of 56/37/30, the report emphasises resilient new-season seed pre-sales (contract liabilities around 6.91亿元, roughly flat YoY), improved operating cash flow from reduced planting area and prepayments, maintains an “优于大市” rating, and flags weather, seed production risks and transgenic policy implementation as key medium-term risks.