中国作物保护月报(中国作物保护202509月报)

In H1 2025, China's pesticide industry experienced a gradual recovery in market sentiment, with notable price increases for several key products such as glyphosate, clethodim, chlorothalonil, and cypermethrin.

An analysis of the interim reports from 28 listed companies in the sector revealed that improved performance was largely driven by both higher selling prices and increased sales volume, accompanied by expanded profit margins. Among these companies, 18 achieved simultaneous growth in both revenue and net profit, representing an increase of 11 firms compared to the same period last year.

Specifically, 22 of the 28 companies reported YoY revenue growth, while six experienced a decline. The number of enterprises with negative revenue growth decreased by five compared to H1 2024. The aggregate net profit attributable to shareholders of these listed companies rose significantly by 69.54% YoY. Furthermore, the number of loss-making enterprises dropped from six in the previous year to five, with the total amount of losses also narrowing substantially.

Data in the interim reports also indicated that performance in Q2 surpassed that of Q1, reflecting strengthened momentum. The market is expected to continue its recovery throughout the H2 2025, supported by stabilising prices and a return to more orderly market conditions, which should contribute to further improved operational results. Moving forward, the Chinese pesticide industry is well-positioned to leverage its competitive advantages—such as low production costs and a highly integrated supply chain—to capture export opportunities and effectively address ongoing challenges.

In this newsletter, the USD/CNY exchange rate used average exchange rate, sourced from the People's Bank of China, and the specific exchange rate is converted as follows:

• Average exchange rate in H1 2025: USD1=CNY7.1828
• Average exchange rate in H1 2024: USD1=CNY7.0983
• Average exchange rate in 2024: USD1=CNY7.1083
• Average exchange rate in 2023: USD1=CNY7.0424