Core Viewpoint - The company, Chuanfa Longmang, is experiencing strong production and sales of industrial-grade monoammonium phosphate, with a projected production of 409,600 tons in 2024, representing an 18.98% year-on-year increase [1] Group 1: Production and Sales Performance - The company is a leading global producer of industrial-grade monoammonium phosphate and is responding to national calls for price stability and supply assurance [1] - The company plans to strategically adjust its domestic and international sales ratios to strengthen its terminal channel advantages, with domestic sales expected to account for 54.38% of total sales in 2024, a 9.68% increase year-on-year [1] Group 2: Market Expansion - The company is actively expanding its customer base in the iron phosphate sector, with applications in new energy materials expected to grow by 51.27% year-on-year in 2024 [1]

Core Viewpoint - The company is experiencing strong production and sales of industrial-grade monoammonium phosphate, with a projected production increase in 2024 and strategic adjustments in market focus [1] Group 1: Production and Sales Performance - The company reports that its industrial-grade monoammonium phosphate is currently in a state of full production and sales [1] - The projected production for 2024 is 409,600 tons, representing an 18.98% year-on-year increase [1] - The company has successfully adjusted its domestic and international sales ratios to strengthen its market position [1] Group 2: Market Strategy and Growth - The company aims to respond to national price stabilization and supply assurance initiatives while maximizing efficiency [1] - In 2024, the domestic sales volume of industrial-grade monoammonium phosphate is expected to account for 54.38% of total sales, reflecting a 9.68% year-on-year growth [1] - The company is actively expanding its client base in the iron phosphate sector, with a projected 51.27% year-on-year increase in applications within the new energy materials field [1]

每经AI快讯，有投资者在投资者互动平台提问：公司当前硫磺制酸装置合计投产产能多少？对应月均 硫磺采购量大概范围？与中石化西南油气的硫磺采购合作，当前合同是年度协议还是长期框架协议？近 期硫磺价格持续上涨，公司是否有锁价采购或拓展其他供应商以控制成本？ （记者 王晓波） 川发龙蟒（002312.SZ）12月29日在投资者互动平台表示，公司合计拥有硫磺制酸装置产能170万吨/年 （另有50万吨/年硫铁矿制酸装置）。公司硫磺采购价格由市场决定，采购量、供应链管理信息公司在 定期报告中有相关披露。 针对硫磺价格上涨，公司主要通过以下方式应对：产业链协同，依托"硫-磷- 钛-铁-锂-钙"多资源循环经济产业链，通过内部协同效应缓解成本压力；工艺优化与精益管理，持续推 动技术革新和精细化管理，实现降本增效；价格传导机制，对于工业级磷酸一铵等产品，成本压力正逐 步向终端传导。公司将持续关注原材料市场变化，动态优化采购策略，具体经营进展请以公告为准。 ...

8月24日晚间，成都三泰控股股份有限公司(以下简称"三泰控股")披露2020年半年度报告显示，今年上 半年，公司实现营业收入24.5亿元，同比大幅增长554.8%，归属于上市公司股东的净利润9239.73万 元，同比扭亏为盈。公司同时预计，今年前三季度有望实现净利润6亿元至6.8亿元，较去年同期扭亏为 盈并大幅增长。 值得一提的是，磷化工业务接下来还将继续助力三泰控股业绩大幅提升。根据公司在半年报中做出的前 三季度业绩预告，龙蟒大地磷化工业务2020年前三季度预计可贡献净利润3.2亿元左右，增长原因主要 系工业级磷酸一铵和复合肥销量增加，叠加原料成本较去年同期降低等因素综合影响所致。同时，三泰 控股在今年5月披露了旗下中邮智递和丰巢科技进行重组的一揽子交易方案，伴随中邮智递与丰巢科技 合并的顺利进行，公司不再按权益法分摊中邮智递产生的亏损(去年公司分摊了约1.7亿元亏损)。此外， 重组后的新主体随着业务发展和证券化进程的不断加快，股权价值凸显，估值有较大的提升空间，三泰 控股预计将在今年第三季度确认中邮智递的股权为其带来的约4.36亿元的投资收益。受上述三方面因素 影响，三泰控股有望延续上半年业绩报喜的态势， ...

（文章来源：证券日报） 证券日报网讯 12月16日，芭田股份在互动平台回答投资者提问时表示，公司专注磷化工产业链，电池 产业链方面主要生产磷酸铁、高纯磷酸、工业级磷酸一铵、硝酸等产品，其中磷酸铁是锂电池的正极材 料前驱体，公司已建成5万吨/年产能。 ...

Group 1 - The current spring plowing preparation for fertilizers is at a critical stage, with a focus on stabilizing the supply and price of phosphate fertilizers [1] - A meeting was held to analyze the phosphate fertilizer market situation and discuss measures for supply assurance and price stabilization [1][3] - There is a consensus among key phosphate fertilizer production and circulation enterprises on the need for enhanced supply and price control measures [3] Group 2 - Recent fluctuations in the phosphate fertilizer market have negatively impacted winter storage and spring plowing preparations, attributed to rising production costs and increased short-term demand [3] - Recommendations include maintaining high production rates without reducing output, avoiding exports until August 2026, and ensuring domestic market supply [3] - Industry associations are urged to guide enterprises in conducting sales at reasonable prices and to prevent hoarding and price gouging [3] Group 3 - Sulfur prices have surged significantly, reaching a near ten-year high of 4115 yuan/ton, with a year-on-year increase of nearly 200% [4] - China is the largest sulfur importer, with approximately 50% of its consumption relying on imports, and the sulfur production for 2024 is projected at 11.07 million tons [4] - The rise in sulfur prices poses challenges for the stability of the domestic fertilizer market, especially as the spring plowing season approaches [4][5] Group 4 - The recent spike in sulfur prices is primarily due to global supply shortages and rising external prices, with Russia's production being significantly affected [5] - The average import price of sulfur in China increased from $175.79/ton in January to $314.94/ton in October, marking a 79.21% increase [5] - The increase in sulfur prices has led to a rise in industrial-grade monoammonium phosphate prices, which saw a monthly increase of approximately 500 yuan/ton [5]

Core Viewpoint - The domestic sulfur market has seen a significant price increase, with prices surpassing 4000 yuan per ton, marking a 17% month-on-month increase and over 160% year-on-year increase, reaching a ten-year high [1] Group 1: Market Dynamics - The primary driver of the recent price surge in the domestic sulfur market is the tightening of international supply, increased downstream demand, and market sentiment [1] - Geopolitical factors, particularly the Russia-Ukraine conflict, have led to a significant decrease in sulfur exports from Russia and Kazakhstan, contributing to the price increase [2] - The export volume of Russian sulfur has dropped from around 2 million tons pre-conflict to an estimated 200,000 tons in 2025 due to ongoing geopolitical tensions [2] Group 2: Demand Factors - The rebound in the phosphate fertilizer industry has provided support for sulfur demand, with high operating rates for monoammonium phosphate and diammonium phosphate since the second half of the year [4] - The development of Indonesia's nickel smelting projects is expected to significantly increase sulfur demand, with an estimated additional requirement of about 500,000 tons by 2027 [4] - The renewable energy sector is projected to be the fastest-growing segment for sulfur demand, with its share expected to rise from 5% in 2024 to 8% in 2025 [5] Group 3: Price Trends and Market Sentiment - The announcement of Qatar Energy's sulfur contract price for December, which increased by $95 to $495 per ton, has further stimulated domestic prices, leading to a rise in port prices [3] - Market sentiment remains bullish, with over 70% of traders expecting further price increases despite current high price levels [6] - The ongoing tight supply situation and high international prices are expected to maintain upward pressure on domestic prices, with traders reluctant to lower their selling prices [7]

Core Viewpoint - The company has indicated that rising sulfur raw material costs are being passed on to end prices, reflecting an upward trend in the prices of major phosphate chemical products [1] Group 1: Price Trends - The average market price for 73% industrial-grade monoammonium phosphate is currently 6553 yuan/ton [1] - The average market price for calcium hydrogen phosphate is 3842 yuan/ton [1] - The average market price for 55% fertilizer-grade monoammonium phosphate is 3614 yuan/ton [1] Group 2: Company Operations - The company possesses an integrated industrial chain advantage, from phosphate mining to product production [1] - Overall production and operation remain stable [1]

Company Overview - Sichuan Development Longmang Co., Ltd. focuses on the "sulfur-phosphorus-titanium-iron-lithium-calcium" multi-resource circular economy industrial chain, enhancing its core competitiveness [2][3] - The company has established a 60,000 tons/year lithium iron phosphate facility, with a 100,000 tons/year phosphoric acid facility in trial production, and a 500,000 tons/year sulfuric acid facility completed [3] Lithium Resource Acquisition - The company acquired a 51% stake in Guotuo Mining, gaining access to the core asset of the Simanzuo lithium spodumene mine, with an estimated Li2O resource of 14,927 tons over a 3.65 km² area [4] - Ongoing exploration and development of lithium resources are planned to support future new energy material businesses [4] Product Pricing and Market Trends - Recent price trends for key products show a 73% increase in the average market price of industrial-grade monoammonium phosphate to 6,553 RMB/ton, and 3,842 RMB/ton for calcium hydrogen phosphate [5] - The company maintains a stable production and operational status, leveraging its integrated supply chain from phosphate mining to product manufacturing [5] Resource Injection from Shareholders - The controlling shareholder, Sichuan Development (Holding) Co., Ltd., possesses rich mineral resources, including phosphate, lithium, vanadium-titanium, iron, and lead-zinc [6][7] - Recent resource injections include the Tianrui Mining phosphate resources and the Simanzuo lithium mine, enhancing the company's resource base [6][7] Export Performance - The company reported a 112.91% year-on-year increase in foreign revenue, totaling 520 million RMB in the first half of 2025 [8] Acquisition and Production Capacity - The acquisition of Tianbao Company enhances the company's competitive edge in the calcium phosphate feed additive sector, with stable production capacities of 450,000 tons/year for feed-grade calcium hydrogen phosphate and 250,000 tons/year for dihydrogen calcium phosphate [8] - Total production of various phosphate chemical products reached 2.3723 million tons in 2024, a 16.89% increase year-on-year [8] Future Capital Expenditure - Planned capital expenditure includes an investment of 366 million RMB for a 100,000 tons/year lithium dihydrogen phosphate project in Mianzhu City, Sichuan Province [9] - The company aims to strengthen its position in the phosphate chemical sector while expanding into upstream mineral resources and downstream new energy materials [9]

Core Viewpoint - The article discusses the significant increase in sulfur prices, driven by rising demand from the new energy market and traditional agricultural needs, which has implications for the lithium battery industry, particularly in the production of lithium iron phosphate (LFP) batteries [5][8][11]. Group 1: Sulfur Price Trends - Since last year, sulfur prices have surged, with the latest price exceeding 4000 RMB per ton, marking a substantial increase [5]. - In the international market, Qatar Energy announced a price increase for December sulfur contracts to 95 USD per ton, reaching 495 USD per ton, which represents a 198% increase compared to the beginning of the year and over 200% year-on-year [7]. - The current sulfur price at Chinese ports is approximately 520-521 USD per ton, equivalent to about 4258-4266 RMB per ton [7]. Group 2: Demand Drivers - The increase in sulfur prices is attributed to two main factors: the rise of the new energy market leading to greater demand and the rigid demand from traditional agriculture [8]. - Global supply constraints due to geopolitical events have intensified the situation, with the new energy market having strong bargaining power for sulfur, particularly in China where procurement is relatively chaotic [8]. Group 3: Impact on Lithium Iron Phosphate Production - Sulfur plays a crucial role in the production of lithium iron phosphate, acting as an intermediary in the manufacturing process [9][10]. - The production of one ton of lithium iron phosphate requires over 200 pounds of sulfur, and with the expected increase in LFP shipments, sulfur demand is projected to rise significantly [10]. - The average market price for industrial-grade monoammonium phosphate, a key input, is currently around 6500-6550 RMB per ton, reflecting a 14% increase from 2024 [10]. Group 4: Cost Transmission Mechanism - The rise in sulfur prices is expected to increase the production costs of sulfuric acid, which may subsequently affect the production costs of lithium iron phosphate precursors [11]. - At the current price of 4000 RMB per ton, the cost of 200 pounds of sulfur is approximately 800 RMB, which has tripled compared to last year, adding significant costs during a period of high demand for lithium iron phosphate [11]. Group 5: Future Demand Projections - The demand for sulfur from lithium iron phosphate has increased from 5% of global sulfur consumption three years ago to 15% this year, indicating a growing trend [11]. - With advancements in solid-state battery technology, the demand for sulfur is expected to rise further, as new production methods for lithium sulfide will require high-purity sulfur [11]. Group 6: Market Dynamics and Supply Constraints - The sulfur bull market began in the second half of 2024, with prices tripling over a year and a half [14]. - Domestic sulfur production has decreased, with a reported drop of approximately 57,000 tons month-on-month, leading to a continued tight supply situation expected to last into the first half of next year [14]. - Global sulfur production is unevenly distributed, with major producers like Indonesia, the Middle East, and Russia facing supply challenges due to geopolitical issues [15]. Group 7: Beneficiaries of Price Increases - Traditional oil and chemical companies, such as Sinopec and PetroChina, are likely to benefit the most from rising sulfur prices, as they have stable production capacities [15]. - Companies with sulfur or sulfuric acid resources will have a higher risk resistance, while those reliant on external purchases may face significant pressure, particularly smaller enterprises [15].