Deepen product structure and expand market share. The company actively promotes the “integration of phosphate electricity and mining” strategy to achieve a complete industrial chain from “mining (phosphate ore, coal mine) - electricity - yellow phosphorus - fine phosphorus chemical series products - logistics distribution of phosphorus chemical products”. The company is stepping up sales efforts to seize the market in the current situation where prices and gross profit are sluggish. Once demand in the phosphorus chemical industry recovers, the company will be able to seize the opportunity. The market is picking up, and product prices are gradually rising. The current price of yellow phosphorus is 12,000 yuan/ton. It is expected that after entering the dry water period in mid-November, prices will gradually rise to 12500-13,000 yuan/ton. Currently, companies are hesitant to sell. Yellow phosphorus is linked to the prices of its downstream products phosphoric acid and phosphate. The rise in the price of yellow phosphorus will drive a simultaneous increase in the price of phosphoric acid and directly drive the growth of enterprise performance. The circular economy and integrated phosphorus-electricity construction will reduce the company's production costs. In the early stages, the company carried out circular economy projects for recycling yellow phosphorus exhaust gas and waste residue in Xuanwei and Mile, and a power generation project using waste heat at the Jiangyin headquarters. According to estimates, the project will directly reduce the production cost of yellow phosphorus by close to 2,000 yuan/ton, and greatly reduce the production cost of yellow phosphorus. Furthermore, the Leidatan Hydropower Station, which the company plans to acquire in addition, is a clean energy source. In the future, the company's yellow phosphorus costs will continue to drop, ensuring the company's integrated level of phosphorus chemical production. Regardless of the impact of future additional issuance on performance dilution, the company's earnings per share for the year 09, 10, 11 are expected to be 0.15, 0.58 and 0.77 yuan. This is mainly due to the significant reduction in the cost of yellow phosphorus due to the integrated circular economy construction. Furthermore, hydropower plants began to contribute benefits in 2009. If we consider inflation factors and rising oil prices next year, which will drive up the price of phosphorus chemical products, it is likely to exceed expectations. Currently, the stock price corresponds to a 10-year price-earnings ratio of only 12.5 times, giving it a “recommended” investment rating.