香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 China Vanadium Titano-Magnetite Mining Company Limited 中國釩鈦磁鐵礦業有限公 司 （於開曼群島註冊成立的有限公司） （股份代號：00893） 須予披露交易 毛嶺－羊龍山鐵礦 升級擴產 施工合約 董事會謹此宣佈，於2025年9月30日，本公司的間接全資子公司阿壩礦業與承包商 訂立施工合約，據此，在施工合約的條款及條件規限下，承包商須就礦場升級擴產 的施工及工程作業提供服務，合約總額為人民幣34,000,000元。 上市規則的涵義 董事會謹此宣佈，於2025年9月30日，本公司的間接全資子公司阿壩礦業與承包商訂 立施工合約，據此，在施工合約的條款及條件規限下，承包商須就礦場升級擴產的 施工及工程作業提供服務，合約總額為人民幣34,000,000元。 施工合約的相關條款 | 日期 | ： | 2025年9月30日 | | --- | --- | --- ...

Mining Operations - The company reported a mining area of 2.7366 sq.km for the Maoling-Yanglongshan Mine with an average grade of 24.32% TFe[5] - The Maoling Processing Plant has a capacity of 150.0 Ktpa for high-grade iron concentrates[6] - As of January 1, 2025, the Maoling-Yanglongshan Mine has estimated resources of 90.30 million tons[5] - The Shigou Gypsum Mine has an estimated resource of 10.37 million tons with an average grade of 90.64% Gypsum + Anhydrite[5] Strategic Focus - The company is focused on inclusiveness and adaptability as part of its strategic foundation[2] - The interim report indicates ongoing efforts in market expansion and resource management[8] - The company aims to enhance its operational efficiency through new technologies and product development[8] - The management discussion highlights a commitment to sustainable mining practices and community engagement[8] - The company is exploring potential mergers and acquisitions to strengthen its market position[8] - Future outlook includes a focus on increasing production capacity and optimizing resource utilization[8] Economic Environment - In 1H2025, China's GDP grew by 5.4% year-over-year, surpassing the government's annual target of 5%[17] - The global GDP growth is projected to moderate to 2.3%, marking one of the weakest growth rates outside of recession periods since 2008[17] - China's steel consumption declined by 6.1% year-over-year in 1H2025 due to a downturn in the property sector[19] - The overall crude steel production decreased by 3.0% to 515.0 million tonnes from January to June 2025[19] - The Chinese Steel Price Index fell by 6.23% in 1H2025, from 96.09 points in January to 90.10 points in June[19] - The Iron Ore Price Index peaked at 886.86 in February 2025 but dropped to 770.76 in June 2025, indicating a downward trend[19] - China's Purchasing Managers' Index (PMI) peaked at 51.4% in March 2025, then stabilized at 50.7% in June 2025, reflecting gradual expansion in production[19] - The PMI for the Chinese steel sector was 45.9% in June 2025, down by 1.9 percentage points year-on-year, indicating ongoing industry challenges[19] - The World Bank projects China's economic growth to decelerate to 4.5% in 2025 and further to 4.0% in 2026 due to global trade headwinds[17] - Increased uncertainty and delayed corporate investment may weaken the labor market, impacting growth in 2H2025 and 2026[17] Financial Performance - In 1H2025, the Group's revenue declined due to lower production and sales volumes, with a decrease in high-grade iron concentrates' average selling price by approximately 9.3%[21] - The Group's gross profit for 1H2025 was approximately RMB6.4 million, down from RMB9.8 million in 1H2024, reflecting a lower gross margin[23] - Other income and gains increased to approximately RMB11.3 million in 1H2025, compared to RMB6.0 million in 1H2024, mainly due to derecognition of certain payables[23] - The production and sales volume of high-grade iron concentrates decreased by approximately 1.1% and 0.4%, respectively, while the steel trading volume increased by approximately 12.4% to approximately 79.1Kt in 1H2025[27] - The average unit cost of production for high-grade iron concentrates decreased by approximately 5.1% in 1H2025[27] - The Group reported a net profit of approximately RMB1.0 million for 1H2025, reflecting the overall financial performance during the period[24] - Revenue for 1H2025 decreased to approximately RMB279.7 million, down 3.3% from RMB289.4 million in 1H2024, primarily due to lower production and sales volumes[38] - Gross profit for 1H2025 was approximately RMB6.4 million, a decline of 34.4% compared to RMB9.8 million in 1H2024, resulting in a gross profit margin of 2.3% (1H2024: 3.4%) due to lower average selling prices and higher environmental compliance costs[40] - Other income and gain increased to approximately RMB11.3 million for 1H2025, up 87.5% from RMB6.0 million in 1H2024, primarily due to the derecognition of certain payables[41] Expenses and Costs - Cost of sales decreased to approximately RMB273.3 million for 1H2025, down 2.3% from RMB279.6 million in 1H2024, mainly due to lower costs for trading purchases[39] - Selling and distribution expenses increased to approximately RMB1.7 million for 1H2025, up 108.9% from RMB0.8 million in 1H2024, primarily due to higher costs associated with mine tailings storage[46] - Administrative expenses remained stable at approximately RMB9.4 million for 1H2025, compared to RMB9.3 million in 1H2024[47] - The company experienced a significant increase in income tax expenses, which rose by 219.9% to RMB1.1 million in 1H2025 from RMB0.3 million in 1H2024[36] Cash Flow and Liquidity - Net cash flows from operating activities were approximately RMB9.9 million for 1H2025, a decrease from RMB22.3 million in 1H2024[65][70] - The Group's trade receivables increased to approximately RMB149.4 million as of June 30, 2025, up from RMB75.5 million in FY2024, with debtor turnover days increasing to 73 days[76] - Other expenses decreased to approximately RMB0.2 million for 1H2025, down from RMB3.0 million in 1H2024, due to the absence of non-recurring expenses[53][56] - The Group's inventories decreased to approximately RMB17.8 million as of June 30, 2025, from RMB20.3 million in FY2024, with inventory turnover days remaining unchanged at 13 days[69][74] - Net cash flows used in investing activities were approximately RMB1.8 million for 1H2025, significantly lower than RMB22.9 million in 1H2024, mainly due to capital expenditures for ongoing projects[66][71] - The Group's trade payables decreased to approximately RMB56.8 million as of June 30, 2025, down from RMB63.6 million in FY2024, with creditor turnover days improving to 40 days[78] - As of June 30, 2025, the Group's borrowings decreased to approximately RMB77.2 million, down from RMB91.4 million in FY2024, due to net repayments of working capital loans during 1H2025[79][84] - The total lease liabilities of the Group as of June 30, 2025, were approximately RMB20.0 million, a decrease from RMB21.1 million in FY2024[80][85] Corporate Governance and Compliance - The audit committee consists of four independent non-executive Directors, ensuring oversight and governance[162] - The audit committee confirmed that the interim report was prepared in accordance with applicable accounting standards and appropriate disclosures were made[168] - There were no changes in directors' and chief executives' information during the reporting period[172] Shareholder Information - As of June 30, 2025, the number of share options available for grant under the 2020 Share Option Scheme was 224,901,541, representing 10% of the total number of Shares in issue at the time of adoption[151] - The 2020 Share Option Scheme was adopted to ensure the continuation of the share option plan after the previous plan expired on April 14, 2020[148] - The Group's emolument policies are based on performance, experience, competence, and market comparability, with remuneration packages including salary and discretionary bonuses[161] Legal and Regulatory Matters - The Company extended the CVT Guarantees by entering into the 2022 Master Guarantee Agreement and the 2022 Counter Indemnity on May 16, 2022, and further extended these arrangements with the 2025 Master Guarantee Agreement on February 11, 2025, for a term ending on December 31, 2027[90][96] - The delay in entering into the 2025 Master Guarantee Agreement was due to the complexity of proposed transactions and negotiations regarding maximum guarantee amounts and valuation methodologies[96] - The Company has been closely monitoring the situation regarding the CVT Guarantees and has received written confirmations from related parties to continue fulfilling their obligations[93] - The maximum amount guaranteed under the CVT Guarantees as of June 30, 2025, is RMB 690.0 million, unchanged from FY2024[102] - The principal amount outstanding under the corresponding loan facilities is approximately RMB 506.6 million, consistent with FY2024[102] - The Company will continue to provide CVT Guarantees for a term from January 1, 2025, to December 31, 2027, with a maximum aggregate guaranteed amount of RMB 930.0 million[100] - Huili Caitong and Xiushuihe Mining are required to pay an annual guarantee fee of 1.25% of the maximum guaranteed amounts estimated under the Hypothetical Scenario[105] - Legal actions have been taken by CCB and ICBC against Huili Caitong and Xiushuihe Mining regarding their indebtedness amounts[106] - The Group does not expect the ongoing legal matters to materially impact its business operations and financial position, aside from potential additional administrative expenses[103] Employee Information - The Group's employee benefit expenses for the first half of 2025 were approximately RMB 17.1 million, an increase from approximately RMB 14.4 million in the first half of 2024[160] - The number of employees in the Group decreased to 326 as of June 30, 2025, down from 356 as of December 31, 2024[160] - No share options have been granted since the adoption of the 2020 Share Option Scheme[150] Financial Position - As of June 30, 2025, total non-current assets amounted to RMB 1,066,590,000, slightly up from RMB 1,063,267,000 at the end of 2024[185] - Current assets totaled RMB 226,450,000 as of June 30, 2025, compared to RMB 219,042,000 at the end of 2024, showing a positive trend in liquidity[185] - Net current assets increased significantly to RMB 69,420,000 from RMB 2,263,000 at the end of 2024, indicating improved short-term financial health[187] - Total assets less current liabilities reached RMB 1,136,010,000, up from RMB 1,065,530,000 at the end of 2024, reflecting overall asset growth[187] - Non-current liabilities increased to RMB 212,828,000 from RMB 145,322,000, primarily due to higher interest-bearing borrowings[187] - The equity attributable to owners of the Company remained stable at RMB 626,577,000, compared to RMB 625,621,000 at the end of 2024[187] - Total equity as of June 30, 2025, was RMB 923,182,000, slightly up from RMB 920,208,000 at the end of 2024, indicating a stable capital structure[187] Cash Flow Analysis - For the six months ended June 30, 2025, the cash generated from operations was RMB 9,873,000, compared to RMB 22,789,000 in the previous year[191] - The company's profit before tax increased significantly to RMB 4,035,000 from RMB 179,000 in the prior period[191] - The total equity attributable to owners of the company as of June 30, 2025, was RMB 1,283,812,000, reflecting an increase from RMB 1,275,589,000 at the beginning of the year[188] - The company experienced a decrease in trade receivables, which increased by RMB 73,942,000 compared to an increase of RMB 55,584,000 in the previous year[191] - The depreciation of property, plant, and equipment for the period was RMB 6,365,000, up from RMB 4,636,000 in the previous year[191] - The company recorded an increase in contract liabilities of RMB 13,296,000, contrasting with a decrease of RMB 6,525,000 in the prior year[191] - The accumulated losses as of June 30, 2025, were RMB 1,285,114,000, showing a slight improvement from RMB 1,275,589,000 at the beginning of the year[188] - The safety fund surplus reserve utilization amounted to RMB 2,171,000 during the period[188] Segment Information - The Group has four reportable segments, consistent with the previous year, indicating stable operational structure[199] - The adoption of amendments to IAS 21 did not have any significant financial impact on the Group's financial position and performance[195] - The interim financial information is prepared in accordance with IAS 34, ensuring compliance with international reporting standards[193] - The Group's performance evaluation is based on adjusted profit/loss before tax, excluding certain income and expenses, which aids in resource allocation decisions[199]

截至月份: 2025年8月31日 狀態: 新提交 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 致：香港交易及結算所有限公司 公司名稱: 中國釩鈦磁鐵礦業有限公司 呈交日期: 2025年9月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00893 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.1 HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.1 HKD | | 1,000,000,000 | 本月底法定/註冊股本總額： HK ...

Core Viewpoint - China Iron Titanium (00893.HK) reported a revenue of approximately RMB 279.7 million for the first half of 2025, indicating a recovery from previous losses [1] - The company recorded a net profit of approximately RMB 1 million for the first half of 2025, compared to a net loss of RMB 200,000 in the same period of 2024 [1] - Basic and diluted earnings per share attributable to ordinary shareholders were approximately RMB 0.04 for the first half of 2025, a turnaround from a loss of RMB 0.01 per share in the first half of 2024 [1] - The board of directors does not recommend the payment of an interim dividend for the first half of 2025, consistent with the lack of dividend in the first half of 2024 [1]

Core Viewpoint - China Titanium (00893) reported a revenue of 280 million RMB for the six months ending June 30, 2025, representing a year-on-year decrease of 3.35% [1] - The company achieved a profit of 2.941 million RMB during the same period, marking a turnaround from a loss [1] - Basic earnings per share were reported at 0.04 RMB [1] Financial Performance - Revenue for the period was 280 million RMB, down 3.35% compared to the previous year [1] - The company recorded a profit of 2.941 million RMB, indicating a recovery from previous losses [1] - Basic earnings per share stood at 0.04 RMB [1]

Group 1 - The company reported a revenue of 280 million RMB for the six months ending June 30, 2025, representing a year-on-year decrease of 3.35% [1] - The company achieved a profit of 2.941 million RMB during the same period, marking a turnaround from a loss to profitability [1] - The basic earnings per share for the company were 0.04 RMB [1]

Financial Performance - In the first half of 2025, the group's revenue was approximately RMB 279.7 million, a decrease of 3.3% compared to RMB 289.4 million in the first half of 2024[2]. - The group recorded a net profit of approximately RMB 1.0 million in the first half of 2025, compared to a net loss of RMB 0.2 million in the same period of 2024[2]. - Basic and diluted earnings per share attributable to ordinary shareholders were RMB 0.04 in the first half of 2025, compared to a loss of RMB 0.01 in the first half of 2024[2]. - The gross profit for the first half of 2025 was RMB 6.4 million, down from RMB 9.8 million in the first half of 2024, reflecting a gross margin decrease[3]. - Total comprehensive income for the period attributable to the company’s owners was RMB 956,000, compared to a loss of RMB 183,000 in the first half of 2024[5]. - The pre-tax profit for the six months ended June 30, 2025, was RMB 4,035 thousand, a significant increase from RMB 179 thousand in the previous year[13][15]. - The company reported a total of RMB 11,304 thousand in other income and gains for the period, contributing positively to overall financial performance[13]. - Other income and gains totaled RMB 11,304,000 for the six months ended June 30, 2025, compared to RMB 6,030,000 in 2024, marking an increase of approximately 87%[19]. - The company's revenue decreased due to a decline in production and sales, despite a slight increase in steel trading revenue[38]. Revenue Breakdown - High-grade iron ore sales contributed RMB 45,827 thousand, accounting for 16.0% of total revenue, down from 18.0% in the previous year[16]. - Steel trading generated RMB 224,013 thousand, representing 80.0% of total revenue, slightly down from 79.0% in the prior year[16]. - Facility management services brought in RMB 9,827 thousand, maintaining a 4.0% share of total revenue, consistent with the previous year[16]. - The iron ore business generated revenue of RMB 45,827,000, down from RMB 50,751,000 in 2024, reflecting a decrease of about 10%[18]. - Steel trading revenue was RMB 224,013,000, compared to RMB 228,770,000 in 2024, indicating a decrease of approximately 2%[18]. - Facility management services contributed RMB 10,547,000, an increase from RMB 10,371,000 in 2024, showing a growth of about 2%[18]. Assets and Liabilities - The group's total assets less current liabilities amounted to RMB 1,136.0 million as of June 30, 2025, compared to RMB 1,065.5 million as of December 31, 2024[6]. - Non-current liabilities increased to RMB 212.8 million as of June 30, 2025, from RMB 145.3 million as of December 31, 2024[7]. - Total assets as of June 30, 2025, amounted to RMB 1,293,040 thousand, a slight decrease from RMB 1,298,310 thousand as of June 30, 2024[14][15]. - Total liabilities stood at RMB 369,858 thousand, compared to RMB 358,182 thousand in the previous year, indicating an increase of 3.7%[14][15]. - As of June 30, 2025, the group's accounts receivable amounted to RMB 149,436,000, a significant increase from RMB 75,494,000 as of December 31, 2024, representing a growth of 97.5%[31]. - The group's accounts payable as of June 30, 2025, totaled RMB 56,812,000, a decrease from RMB 63,585,000 as of December 31, 2024, reflecting a decline of 10.5%[32]. - The total bank and other borrowings as of June 30, 2025, were RMB 77,180,000, down from RMB 91,444,000 as of December 31, 2024, indicating a reduction of 15.6%[32]. Cash Flow and Expenditures - The net cash flow from operating activities for the first half of 2025 was approximately RMB 9.9 million, down from RMB 22.3 million in the same period of 2024[60]. - The net cash flow used in investing activities was approximately RMB 1.8 million, a decrease from RMB 22.9 million in the first half of 2024, primarily due to capital expenditures related to the upgrade and expansion of high-grade iron ore operations[61]. - The net cash flow used in financing activities was approximately RMB 17.7 million, compared to RMB 7.3 million in the first half of 2024, mainly due to repayments of bank loans[62]. - Capital expenditures for the six months ended June 30, 2025, were RMB 11,413 thousand, up from RMB 8,670 thousand in the same period of 2024[13][15]. Dividends and Shareholder Information - The board did not recommend the payment of an interim dividend for the first half of 2025, consistent with the previous year[2]. - The company's issued and fully paid ordinary shares remained at 2,249,015,410 as of June 30, 2025, unchanged from December 31, 2024[33]. - The company did not recommend any interim dividend for the first half of 2025, consistent with the previous year[24]. Economic and Market Conditions - The construction steel consumption in China decreased by 6.1% year-on-year in the first half of 2025, reflecting ongoing pressure in the steel industry due to a sluggish real estate sector[35]. - The China Steel Price Index (CSPI) fell from 96.09 points in January 2025 to 90.10 points in June 2025, marking a decline of 6.23% in the first half of 2025 and a year-on-year decrease of 14.14%[35]. - The iron ore price index reached a peak of 886.86 in February 2025 but fell to 770.76 by June 2025, with expectations of further decline in the second half of 2025 due to reduced production and weak demand[36]. - The overall China Purchasing Managers' Index (PMI) showed a slight increase, peaking at 51.4% in March 2025, but fell to 50.2% in April and stabilized at 50.7% in June 2025, indicating gradual expansion in production and business activities[36]. - The steel industry PMI was at 45.9% in June 2025, reflecting a year-on-year decline of 1.9 percentage points, highlighting ongoing challenges within the industry[36]. Corporate Governance and Compliance - The company has complied with all applicable corporate governance codes during the reporting period[93]. - The financial data disclosed complies with the listing rules and has been prepared according to applicable accounting standards[95]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[94]. Employee and Operational Updates - As of June 30, 2025, the company had 326 employees, down from 356 on December 31, 2024, with employee benefits expenses amounting to RMB 17.1 million in H1 2025, compared to RMB 14.4 million in H1 2024[92]. - The company has adopted a performance-based compensation policy, which includes salaries, housing allowances, retirement contributions, and discretionary bonuses linked to performance[92]. - The facilities management division is expected to play an increasingly important role in diversifying revenue sources amid growing competition in the industry[90]. Guarantees and Financial Obligations - The company has provided a maximum guarantee amount of RMB 930.0 million under the 2025 main guarantee agreement, effective from January 1, 2025, to December 31, 2027[75]. - The company's total capital expenditure increased by approximately RMB 2.7 million to about RMB 11.4 million, primarily due to costs associated with the resource integration process of the Maoling-Yanglongshan iron ore project[87]. - The total loan amount owed by the company is approximately RMB 930.0 million, including principal, accumulated interest, penalties, and other associated costs[102]. - The maximum guarantee amount under the China Titanium Guarantee is RMB 690.0 million as of June 30, 2025, down from RMB 730.0 million[102].

Core Viewpoint - China Titanium (00893) anticipates a net profit attributable to shareholders of approximately RMB 1.5 million in the first half of 2025, compared to a net loss of about RMB 200,000 in the first half of 2024 [1] Financial Performance Summary - The estimated financial performance for the first half of 2025 shows improvement due to: - (a)(i) An increase in guarantee fee income - (ii) Termination of recognition of certain payables, leading to an increase in other income - (b) A reduction in other expenses without the losses from the sale of fixed assets and certain non-recurring expenses that were present in the first half of 2024 - (c) A decrease in financial costs due to lower average funding costs in China [1][1][1] Operational Challenges - The stable income from the group's facility management services supports the increase in guarantee fee income, but this is partially offset by: - Higher environmental compliance costs - A decrease in production due to ongoing upgrades and gradual expansion projects related to high-grade iron ore operations, leading to lower economies of scale [1][1][1]

Core Viewpoint - China Iron Titanium (00893) anticipates a net profit attributable to shareholders of approximately RMB 1.5 million for the first half of 2025, compared to a net loss of about RMB 200,000 for the first half of 2024 [1] Financial Performance - The estimated financial performance for the first half of 2025 shows improvement due to several factors: - (a)(i) Increase in guarantee fee income - (ii) Termination of recognition of certain payables, leading to an increase in other income - (b) Reduction in other expenses without the losses from the sale of fixed assets and certain non-recurring expenses that were present in the first half of 2024 - (c) Decrease in financial costs due to a reduction in the average cost of funds in China [1] Operational Factors - The stable income from the group's facility management services supports the increase in guarantee fee income - However, the lower economies of scale are partially offset by higher environmental compliance costs and a decrease in production, which is attributed to ongoing upgrades and gradual expansion projects related to high-grade iron ore mining [1]

Core Viewpoint - China Iron Titanium (00893.HK) expects to record a net profit attributable to shareholders of approximately RMB 1.5 million in the first half of 2025, compared to a net loss of approximately RMB 0.2 million in the first half of 2024 [1] Financial Performance Summary - The estimated financial performance improvement for the first half of 2025 is primarily due to: - (a) (i) An increase in guarantee fee income and (ii) the termination of recognition of certain payables, leading to an increase in other income [1] - (b) A reduction in other expenses without the losses from the sale of fixed assets and certain non-recurring expenditures recorded in the first half of 2024 [1] - (c) A decrease in financial costs due to a decline in the average cost of funds in China [1] Operational Factors - The stable income sources from the group's facility management services support the increase in guarantee fee income [1] - The lower economies of scale are primarily impacted by higher environmental compliance costs and a decrease in production, which is attributed to ongoing upgrades and gradual expansion projects related to high-grade iron ore operations [1]