Production Capacity and Distribution - The company has a total compound fertilizer production capacity of 7.55 million tons, with an additional 1.3 million tons under construction [2][3] - The production bases are strategically located across various regions in China and Malaysia, including Hubei, Shandong, Henan, Sichuan, and Xinjiang [2][3] - The company has nearly 6,000 primary distributors and over 100,000 retail outlets nationwide, with ongoing expansion into Southeast Asian markets [2][3] New Fertilizer Demand and Development - The new fertilizer segment is becoming a key growth driver, supported by agricultural green transformation and policy backing [3][4] - The company is developing 1.3 million tons of new fertilizer capacity in Hubei and Shandong, expected to enhance production scale and profit margins [3][4] - Recent innovations include new products such as water-soluble monoammonium phosphate and high-concentration liquid potassium-phosphorus fertilizers [3][4] Phosphate Fertilizer Composition and Profitability - The phosphate fertilizer products mainly consist of fertilizer-grade and industrial-grade monoammonium phosphate, with the latter entirely sold externally [4] - The company’s phosphate fertilizer business is projected to grow significantly due to increasing demand in agriculture, fire safety, and new energy materials [4] Phosphate Mining Progress and Impact - The company owns three phosphate mines in Sichuan, with ongoing construction of a 2.9 million tons/year mining project [5] - The mining projects aim to ensure stable raw material supply and reduce production costs, enhancing market competitiveness [5] Synthetic Ammonia Project Development - The company is constructing a 700,000 tons synthetic ammonia project, which is expected to meet nitrogen fertilizer raw material needs and lower overall costs [5] - The project will also expand production capacity and optimize the industrial structure, providing strong support for sustainable development [5]