STANLEY(SZ:002588)2025-04-29 09:30Group 1: Company Performance - The company's horticultural fertilizer business achieved an online retail sales of 116 million yuan in 2024, a year-on-year increase of 40.86%, with a total sales volume of 6.09 million units, marking a growth of 87.96% [1] - The first quarter of 2025 saw significant year-on-year growth in revenue and profit, attributed to successful market expansion and increased market share [2] - The subsidiary, Songzi New Materials Company, reported a loss of approximately 112 million yuan in 2024, primarily due to depreciation costs of over 60 million yuan [5] Group 2: Strategic Initiatives - The company plans to enhance its core fertilizer business while extending upstream into the phosphate industry to strengthen its competitive edge [4] - The management is focused on improving operational performance and investor communication to enhance the company's market value [6] - The company is considering the introduction of a mid-year cash dividend, contingent on the board's assessment of operational performance and financial conditions [2] Group 3: Market Position and Challenges - The company is currently the market leader in the horticultural fertilizer sector, with ongoing efforts to expand its market share [2] - The stock price and market value have not reflected the company's strong fundamentals over the past decade, which the management acknowledges [5] - The company is not planning to establish a new production base in Shaanxi, as it already has coverage in the region through existing facilities in Henan and Gansu [7] Group 4: Future Outlook - The Songzi project is expected to stabilize and achieve profitability by the second half of 2025 [5] - The company is actively monitoring the market conditions for its phosphate iron project, which has not yet commenced operations due to low market prices [4] - The management believes that the company's stock price will align with its intrinsic value as strategic initiatives are implemented and operational performance improves [6]