史丹利(002588) - 史丹利调研活动信息

Group 1: Company Performance - From January to May 2023, the company's overall operational situation is stable, with sales volume year-on-year remaining basically flat [2] - The raw material inventory has dropped to the lowest level in recent years, with potassium fertilizer contract prices returning to pre-pandemic levels [3] - The company has started to replenish raw material inventory ahead of the autumn sales season, indicating a proactive approach to market demands [3] Group 2: Raw Material Pricing and Impact - The fluctuation of raw material prices has not significantly affected farmers' willingness to purchase fertilizers, as stable grain prices maintain planting profitability [3] - The comprehensive grade of phosphate ore from Huaxi Mining is around 27%-28%, with pricing based on market conditions [3] - The company plans to adopt flexible procurement strategies for phosphate ore, sourcing from both Huaxi Mining and other market suppliers [3] Group 3: Project Developments - The Lihua Fertilizer project in Hebei has advantages in sourcing low-cost raw materials, which will help reduce production costs and enhance market coverage in Northeast China [3] - The project in Songzi is designed as a full industry chain from upstream mining to downstream compound fertilizer production, aiming to improve sales in East, Central, and South China [3] - The company intends to increase internal consumption of phosphate fertilizer produced by Lihua Fertilizer and Songzi, optimizing resource utilization [3] Group 4: Dealer Support Policies - The company has implemented support policies for dealers to strengthen partnerships and enhance market penetration [3]