Xinyangfeng said at the analyst meeting on October 26 that the company is optimistic about the 2027 phosphate fertilizer and compound fertilizer market, mainly based on three points: First, the decline in sulfur prices will ease the most difficult cost factor in phosphate compound fertilizer sales in 2026, and the profitability of phosphate fertilizer will gradually recover. Under the high sulfur prices in 2026, the company's sales volume in the first three quarters will still be about the same as the same period in 2025, so after sulfur prices fall back, the 2027 sales situation can be more optimistic. Second, the price of sulfur once rose to a historical extreme value of more than 10,000 yuan in 2026, which strongly suppressed sales, resulting in almost zero downstream inventory. This provided a good incremental space for sales development in 2027. Third, after phosphogypsum acid production is put into production in the third quarter of 2027, the company's product cost will be much lower than that of peers, providing more support for sales. Taken together, the company judged that the sales volume and profitability of compound fertilizer and monoammonium phosphate in 2027 will be more optimistic than 2026.

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