清水源：公司三氯化磷产品主要应用于公司水处理剂的生产

Core Viewpoint - The company, Qing Shui Yuan (300437.SZ), has reported significant investor interest in its phosphate chemical concept, despite its main business being focused on water treatment agents and related products [1] Group 1: Business Overview - The company's main business includes the production, research and development, and sales of water treatment agents and derivatives, as well as industrial water treatment services and environmental engineering construction services [1] - The primary products are organic phosphine products and polymer products, mainly used in industrial water treatment [1] - As of the 2024 annual report, the revenue from water treatment agents and derivatives accounts for 80.55% of the company's total revenue [1] Group 2: Recent Developments - There is heightened investor attention on the company's involvement in the phosphate chemical sector, particularly regarding its production of phosphorus trichloride, which is essential for the production of water treatment agents [1] - The company is facing delays in the administrative approvals for its relocation project, which includes a planned annual production of 20,000 tons of phosphorus pentachloride, leading to concerns about the project's progress and potential termination risks [1]