Jiuyi Co., Ltd.'s ChiNext IPO "terminated"; mainly engaged in the R&D, production, and sales of pesticide technical materials and formulations.

On September 13, the ChiNext IPO review status of Anhui Jiuyi Agriculture Co., Ltd. (abbreviated as Jiuyi Co., Ltd.) was changed to "Terminated (Withdrawn)". Because Jiuyi Co., Ltd. and its sponsor Guoyuan withdrew the issuance and listing application, in accordance with the relevant provisions of Article 62 of the Shenzhen Stock Exchange Stock Issuance and Listing Review Rules (2024 Revision), the Shenzhen Stock Exchange decided to terminate the review of its initial public offering of shares and listing on the ChiNext Board. According to the prospectus, Jiuyi Co., Ltd. is mainly engaged in the R&D, production, and sales of pesticide technical materials and formulations, closely focusing on the national food security strategy and the continuously developing and changing plant protection needs of bulk crops such as wheat, corn, rice, and soybeans, and continuously developing high-efficiency, low-toxicity, and low-residue pesticide products conducive to improving crop quality and increasing income and reducing dosage and improving efficiency. The company's products mainly involve two major categories, pesticide fungicides and herbicides, with main varieties including prothioconazole, the world's largest fungicide, and mesotrione and nicosulfuron, among the world's top ten corn field herbicides. The company is one of the enterprises in China's agrochemical industry with relatively strong independent innovation capability and industrialization capability. Since 2019, it has successively completed the registration and development layout of multiple products such as prothioconazole, mesotrione, pyroxasulfone, saflufenacil, and fluxapyroxad, continuously making breakthroughs in pesticide product innovation and its industrialization. Among them, prothioconazole and mesotrione were among the first batch registered in China, filling the gap in domestic independent technology and products. The products developed and laid out by the company are all green and efficient pesticide products, and are key varieties in the current upgrading and replacement of pesticides. The company is one of the major global manufacturers of prothioconazole products. Through continuous product innovation and process innovation, the formulations of prothioconazole products have been continuously expanded, and it now has production capacity for multiple formulations such as oil dispersion, suspension concentrate, emulsifiable concentrate, and water dispersible granules. The registered control targets cover more than ten crop diseases such as wheat, corn, and peanuts, making it an enterprise with the widest range of registered control targets for prothioconazole in China and leading comprehensive technology and industrial scale in the industry. Jiuyi Co., Ltd. adheres to the business strategy of integration of technical materials and formulations, synchronization of domestic and international operations, and parallel development of herbicides and fungicides. As of the end of 2025, it had obtained 84 domestic pesticide product registrations, including 11 technical materials and 73 formulations. Its products have been exported to more than 40 countries and regions around the world, and it has established stable cooperation with globally renowned agrochemical companies such as Syngenta, Nutrien, India United Phosphorus, India Sharda, GLOBACHEM, and Nufarm. In the domestic market, the company has built a nationwide sales network mainly based on direct sales and supplemented by distribution, and continuously develops its own-brand pesticide formulations. Multiple products have been rated as best-selling brand products of herbicides in China's plant protection market, brand products with the most explosive power in the national plant protection market, and best-selling brands of fungicides in the national plant protection market. In terms of financials, in 2023, 2024, and 2025, the company achieved operating revenue of approximately RMB 1.349 billion, RMB 1.300 billion, and RMB 1.493 billion, respectively; during the same periods, it recorded net profit of approximately RMB 193 million, RMB 103 million, and RMB 108 million, respectively.