The annual report of Shanghai and Shenzhen listed companies was published on April 30, 2018. A total of 7.03 billion yuan has been earned by 22 listed chemical fertilizer companies, with a loss of 4.31 billion yuan in the same period last year, a substantial increase of 26.3.1% over the same period last year. The arithmetic average earnings per share was 0.26 yuan, while the loss was 0.28 yuan in the same period last year, an increase of 190.3% over the same period last year. The main reason why the performance of listed chemical fertilizer companies increased greatly in 2018 is that, with the deepening of the structural reform on the supply side, the contradiction between supply and demand in the chemical fertilizer market has been alleviated, the market has improved significantly and the price has risen.

Twenty-two listed chemical fertilizer companies published their annual reports, with a total profit of 7.03 billion yuan.

_In contrast, the growth rate of single fertilizer is greater than that of compound fertilizer, and the profit situation is better. The annual report of Yangquan Coal Chemical Industry shows that in 2018, the company produced 3.598 million tons of urea and sold 3.627 million tons. The average selling price of urea (the same below) increased by 18.59% compared with 2017. The annual report of Yuntianhua shows that the average sales price of diammonium phosphate without tax in 2018 is 2499 yuan, up 13.8% year-on-year; the average sales price of monoammonium phosphate in 2018 is 2310 yuan, up 20% year-on-year. In 2018, the overseas contract price of potash fertilizer increased from $259 in 2017 to $280, while the domestic market price increased from $1950 to $2420. In 2018, the gross interest rate of Potassium Chloride of Zangger Holdings was 69.47%.

_Compound fertilizer industry, as the downstream industry of raw material fertilizer and the upstream industry of planting industry, was squeezed at both ends in 2018. On the one hand, the rising price of raw materials and chemical fertilizers in the upstream leads to the increase of production cost of compound fertilizers; on the other hand, because the price of agricultural products such as grain is not high, farmers are not willing to accept high-price fertilizers, the cost transfer of compound fertilizer industry is not smooth, gross profit is compressed, and profit space is limited. However, as an excellent representative of the industry, the listed companies of compound fertilizer have performed well on the whole. In 2018, a total of 1.92 billion yuan of profit was made by six listed companies of compound fertilizer, an increase of 2% over the same period last year. Among them, Xinyangfeng earned 820 million yuan, an increase of 20.4% over the same period last year. Xinyangfeng Annual Report shows that in 2018, the sales and income of compound fertilizer have achieved rapid growth, the product structure has been continuously optimized, the proportion of new fertilizer products has been significantly increased, and the profitability has been further enhanced.