Dry matter (DM) and nitrogen (N) transport from nutritive organs to the grain is critical for cereal crop yield and protein content. There is limited research on the effects of slow-release or controlled-release fertilizers on dry matter and nitrogen partitioning in the nutrient organs of spring corn. A field trial was conducted in the National Corn Industry Technology System Xinzhou Comprehensive Experiment Station, China. The effects of different fertilizer management on yield, photosynthetic capacity, and nutrient partitioning of spring maize were studied. We modeled local farmers’ planting and management practices (T3). Based on T3, we added a slow-release compound fertilizer (T2), which does not require a follow-up fertilizer, and a controlled-release formulated fertilizer (T1), which is highly efficient and has low carbon emissions. The net photosynthetic rate (Pn), transpiration rate (E), stomatal conductance (Gs), and intercellular CO₂ concentration (Ci) were 23%, 18.5%, 18%, 10.5% and 19%, 10.9%, 7%, and 5.5% higher in T1 compared to those of T3 and T2, respectively, at the ripening stage. The contribution of post-flowering DM transport to the kernel of T1 was 46% and 41.4% higher than that of T3 and T2, respectively. The nitrogen content of the kernel of T1 was 35.2% and 18.5% higher than that of T3 and T2, respectively. After a comprehensive analysis, T1 prolonged the photosynthetic effect through adequate nitrogen supply, provided nutrients to the kernel, promoted maize nitrogen uptake and utilization, and ultimately improved yield.