Zhitong Finance App News, Wanxiang Denong (600371.SH) issued a stock price change announcement stating that the company's stock price trend seriously deviates from industry conditions and operating performance. The company's main business revenue is highly concentrated in corn hybrids, and the proportion of this product in the main business revenue continues to be at a high level.

Recently, there has been a lot of discussion in the market about climate hotspots such as “Super Strong El Niño.” Related topics mainly involve price fluctuations in agricultural products such as commercial corn, but the company's main business is R&D, production, and sales of corn seeds, which is upstream of the agricultural industry chain, and is a different link from the commercial corn market. Currently, the domestic corn seed industry as a whole is in the inventory removal cycle, and the market is showing a trend where supply exceeds demand. Increased competition in the industry has put pressure on corn seed sales prices, and the gross margin of the company's corn seed business has also declined.

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