3. Development outlook: Production capacity will expand, urea profit is expected to resume, and production capacity will expand further. Currently, the company has a production capacity of 550,000 tons of synthetic ammonia and 2 million tons of downstream products. With the improvement of the company's industrial chain and the expansion of production capacity after the reform of synthetic ammonia technology, downstream urea, ammonium nitrate, and controlled hydrogen peroxide and coal production capacity are expected to expand further, thus further enhancing the company's overall profitability. We expect the company's downstream product production capacity to expand by 300,000 tons, ammonium nitrate by 100,000 tons, and hydrogen peroxide by 100,000 tons. The expansion of production capacity will help improve the company's future performance. Urea prices are expected to rise in the next month or two, thus contributing to the recovery of the company's urea product profitability. Currently, the price of urea is around 1,600 yuan/ton (close to the cost line for some small businesses), and has been silent for a long time. With the arrival of the peak fall fattening season, we expect that urea prices may rise slightly for some time to come. We compared the prices of urea, diammonium phosphate, and potassium chloride for a single nutrient. The results show that the current unit price of one nutrient is significantly lower than that of phosphate fertilizer and potash fertilizer (if viewed from a long-term cycle, the unit price of nitrogen, phosphorus, and potash fertilizer for a single nutrient should be consistent), so we judge that the price of urea has some potential to rise. 4. The expected recovery in urea prices to maintain “increased holdings” investment ratings and the expansion of production capacity will all be driving factors for the company's future performance growth. We expect the company's earnings per share for 2010-2011 to be 0.42 yuan and 0.60 yuan respectively, maintaining an investment rating of “increased holdings” and given a six-month target price of 12.00 yuan.