[10 days and 7 boards Wanxiang Denong: The domestic corn seed industry is currently in a destocking cycle The market shows a situation of oversupply and demand] On August 31, Wanxiang Denong (600371.SH) issued an announcement on abnormal stock trading fluctuations. Recently, the market has been discussing a lot about climate hot spots such as "Super El Niño". Related topics mainly involve price fluctuations of agricultural products such as commodity corn. However, the company's main business is the research and development, production and sales of corn seeds, which belongs to the upstream of the agricultural industry chain and is a different link from the commodity corn market. Currently, the domestic corn seed industry as a whole is in a destocking cycle, and the market is showing a situation of oversupply. Intensified industry competition has put pressure on corn seed sales prices, and the company's corn seed business gross profit margin has also declined.