Jiangsu Lanfeng Biochemical Co., Ltd. (Jiangsu Lanfeng) made an announcement to revise the prediction on the full-year 2018 financial figures, “The net loss would reach USD88.9-133.4 million in 2018,” said the announcement. This prediction is a result of the preliminary estimate of the financial department of Jiangsu Lanfeng and has not yet been audited by the certified public accountant.
In January 2019, Hailir Pesticides and Chemicals Group forecast an increase in the full-year 2018 financial figures. The primary estimate shows that its net profit would increase by 30-60% year on year and hit USD56.3-66.7 million in 2018.
On 21 February 2019, the Ministry of Agriculture and Rural Affairs of the People’s Republic of China (MOA) unveiled the 2019 Work Focus of the Planting Industry, “In 2019, China should strive to increase the planting area of soybean and oil plants by at least 0.3 million ha respectively, and should increase the area of high standard farmland by at least 5.3 million ha.”
In 2019, Jiangsu Huifeng Agrochemical Co., Ltd (Jiangsu Huifeng)issued a notice on the company's stock withdrawal of other risk warnings. The announcement shows that the company's stock and convertible corporate bonds were suspended for one day on Feb. 1, 2019. The trading resumed on the opening of the market on Feb. 11, 2019.
In February 2019, Henan provincial government made an emergency notice aimed at the unified prevention and control of key pests and diseases of wheat. It instructed the local administrations to further ascertain the requirements and to carry out unified prevention and control in strict accordance with the policies and the technical specifications as quickly as possible.
During the Second Approval Meeting of the National Crop Variety Approval Committee held on 21 December, 2018, there were 115 corn varieties passed the review. Early in September 2018, another 516 corn varieties gained such approvals. In total, the number of corn varieties granted with national approval rose from 171 in 2017 to 631 in 2018 by 269%.
On 29 January 2019, Nanjing Redsun Co., Ltd. (Nanjing Redsun) announced that the acquisition of Ruralco Soluciones S.A. (Ruralco) which started in 2018 had been finished recently. Currently, Nanjing Redsun holds 60% of shares in Ruralco.
In January 2019, the National Agri-Tech Extension Service Center (NATESC) announced that Spodoptera frugiperda was found and confirmed to have stricken Yunnan Province, and have continued to spread in Southwest Yunnan Province.
On 26 January 2019, Limin Chemical Co., Ltd. (Limin Chemical) announced the intention to invest in Xinjiang Xinrong Renhe Holding Investment Limited (Partnership) (Xinjiang Xinrong) as a limited partner. The investment would be USD14.1 million, making up 32.99% of the total.
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