On November 4, Zhongnong Lihua (603970.SH) stated at an investor relations event that the industry is fiercely competitive, with upstream manufacturers generally under pressure. Many factors such as the upward trend in raw material prices, a bearish sentiment from the demand side, manufacturers proactively limiting production, and market inventory levels affect product prices. Currently, downstream players are adopting a just-in-time purchasing strategy, and some products may experience short-term fluctuations, with the supply-demand game intensifying. The sustainability of price increases will require actual orders to support. Looking at the trend shown by Zhongnong Lihua's raw material price index, most products are expected to continue to consolidate at the bottom. Some products, such as avilamycin, methionine, and kanamycin, have seen temporary price increases.