On February 2nd, Huaqiang Chemical Group Co., Ltd. officially announced the successful commissioning of its No. 3 urea technical upgrade and renovation project, with a total investment of approximately 260 million yuan. PriceSeek analysis of urea, long-short score: -1. The commissioning of Huaqiang Chemical Group's urea technical upgrade and renovation project (investment of 260 million yuan) will enhance production efficiency and capacity, increasing market supply. The increase in supply exerts downward pressure on spot urea prices, generally bearish. Combined with recent urea futures data (e.g., the closing price of the 2605 contract at 1,776 yuan/ton, down 3.00 yuan/ton), this project news may reinforce market expectations of oversupply, exacerbate the downward trend in futures prices, and spread bearish sentiment.