Financial Performance - In the first three quarters of 2025, the company achieved operating revenue of 2.806 billion CNY, a year-on-year increase of 27.57% [3] - The net profit attributable to shareholders was 304 million CNY, reflecting a significant year-on-year growth of 175.61% [3] - As of the end of Q3 2025, total assets amounted to 3.835 billion CNY, with net assets attributable to shareholders at 2.765 billion CNY, resulting in a debt-to-asset ratio of approximately 26.34% [3] - In Q3 2025, the company recorded operating revenue of 1.06 billion CNY, a year-on-year increase of about 27% and a quarter-on-quarter increase of approximately 4% [3] - The net profit attributable to shareholders for Q3 2025 was 127 million CNY, showing a year-on-year increase of 189.43% and a quarter-on-quarter rise of about 21% [3] Revenue Structure - The revenue composition for the first three quarters of 2025 was as follows: phosphoric acid (55%), calcium salts (25%), phosphate fertilizers (18%), and by-products (2%) [3] Operational Insights - The current operating rate of the Dongchuan base is around 70%, while the Guangxi Fangchenggang chemical base operates at over 100% [3] - The expected import volume of phosphate rock for the Guangxi Fangchenggang chemical base in 2025 is approximately 600,000 tons [3] - The demand for 52 acid remains stable throughout the year, with no significant seasonal fluctuations [3]