Liuguo Chemical (600470) plans to spend 520 million yuan to acquire phosphorus chemical-related assets from its controlling shareholder, Tonghua Group. This transaction is an integration of related assets under the same actual controller, primarily aimed at resolving intra-group horizontal competition, further shoring up the listed company's industrial chain shortcomings, and perfecting the "phosphate rock—ammonium phosphate" integrated upstream and downstream layout.

This transaction involves the injection of assets from an affiliate of the controlling shareholder. The target focuses on core phosphorus chemical production segments, which can effectively enhance the asset integrity of the listed company and avoid homogenization of intra-group business competition. Relying on this upstream asset integration, the company's self-sufficiency rate in phosphate rock will significantly increase, substantially offsetting operational pressure caused by price fluctuations in phosphate rock raw materials, and continuously consolidating the cost advantage of the entire "phosphate rock—phosphoric acid—ammonium phosphate" industrial chain.

In terms of business synergy, this integration can achieve the intensive and efficient allocation of phosphate rock resources in the Tongling region, fully ensuring the stable release of production capacity for core fertilizer businesses such as monoammonium phosphate (MAP) and diammonium phosphate (DAP). Meanwhile, a sufficient and stable upstream phosphate supply will also lay a solid raw material foundation for the company's transformation into new energy and refined phosphoric acid fields, opening up medium-to-long-term growth space.