证券代码：600456 证券简称：宝钛股份 公告编号：2025-050 宝鸡钛业股份有限公司 2025年第三次临时股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 452 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 251,372,547 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 份总数的比例（%） | 52.6129 | 注：本公告中涉及的股份比例数值均保留四位小数，若有尾差为四舍五入原因。 (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由董事会召集，采用现场投票和网络投票相结合的方式召开，会议由公 司董事长王俭先生主持。会议召集、召开及表决方式等事宜符合《公司法》和《公 司章程》等法律法规及规范性文件的规定。 一、 会议召开和出席情况 (一)股东大会召开的时间 ...

Market Overview - The small metal sector experienced a decline of 1.67% on October 15, with Northern Rare Earth leading the drop [1] - The Shanghai Composite Index closed at 3912.21, up 1.22%, while the Shenzhen Component Index closed at 13118.75, up 1.73% [1] Individual Stock Performance - Shenghe Resources (600392) saw a closing price of 26.26, with an increase of 5.04% and a trading volume of 3.19 million shares, amounting to a transaction value of 8.597 billion [1] - Anning Co. (002978) closed at 33.85, up 2.05%, with a trading volume of 68,400 shares and a transaction value of 231 million [1] - Northern Rare Earth (600111) closed at 54.50, down 4.05%, with a trading volume of 3.03 million shares and a transaction value of 1.6617 billion [2] Capital Flow Analysis - The small metal sector experienced a net outflow of 2.092 billion from main funds, while retail investors saw a net inflow of 2.265 billion [2] - The main funds showed a significant outflow in several stocks, including Baotai Co. (600456) with a net outflow of 27.17 million [3] - Retail investors contributed positively to stocks like Shenghe Resources (600392) with a net inflow of 65.96 million [3]

Core Points - The announcement from Baotai Co., Ltd. indicates that the share buyback plan will be completed by October 10, 2025 [2] - During the implementation period, the controlling shareholder, Baotai Group, has increased its stake by 7,791,653 shares, representing 1.6308% of the total share capital [2] - The total amount spent on the share buyback reached 238,599,087.21 yuan, exceeding the lower limit of the planned buyback amount and percentage range [2]

Investment Rating - The industry investment rating is maintained at "Overweight" [5] Core Viewpoints - The military industry is entering a medium to long-term layout turning point, with significant investment opportunities emerging due to international political turbulence and domestic military modernization efforts [4][5] - The recent unveiling of the J-35 aircraft production line indicates a continuous enhancement of national military strength, which is expected to lead to a rapid development phase in military trade [7] - The acceleration of satellite launches suggests that the commercial aerospace industry is poised for a new phase of rapid growth, benefiting related enterprises in the supply chain [7] Summary by Relevant Sections Recent Industry Performance - Over the past 12 months, the absolute return of the industry is 21.1%, while the relative return compared to the CSI 300 is 4.39% [3] Key Events - The "Peace and Friendship - 2025" joint military exercise between China and Malaysia is set to take place from October 15 to 23, involving over 1,000 personnel and more than 500 pieces of equipment [5] Investment Highlights - The military industry is expected to see a rebound after previous adjustments, with increasing investment value highlighted by the upcoming "14th Five-Year Plan" conclusion and ongoing geopolitical tensions [8] - The report suggests focusing on specific stocks such as AVIC Xi'an Aircraft Industry Group, AVIC Shenyang Aircraft Corporation, and others within the military sector [8]

T (86-29) 8842 2608 E guantaoxa@guantao.com www.guantao.com 陕西省西安市雁塔区团结南路35号 高新新天地广场3号楼35层3501-08 35/F, Building 3, Gaoxin Xintiandi Square, 35 Tuanjie South Road, Yanta District, Xi'an 北京观韬（西安）律师事务所 关于宝钛集团有限公司 增持宝鸡钛业股份有限公司股份 的法律意见书 观意字 2025XA000510 号 二零二五年十月 11 1 陕西省西安市雁塔区团结南路35 新新天地广场3号楼35层3501-1 /F. Building 3. Gaoxin Xintiandi Square. 35 Tuaniie South Road. Yanta District, Xi'an 北京观韬(西安)律师事务所 关于宝钛集团有限公司 增持宝鸡钛业股份有限公司股份 的法律意见书 观意字 2025XA000510 号 致:宝钛集团有限公司 北京观韬(西安)律师事务所(以下简称为"本所")接受宝钛集团有限公司 (以下简称"增持人"或"宝钛 ...

Core Viewpoint - Baoti Group has completed its share buyback plan, acquiring approximately 7.79 million shares of Baoti Co., accounting for 1.6308% of the total share capital, with a total investment of about 239 million yuan, exceeding the lower limit of the planned buyback amount and proportion [1] Group 1: Share Buyback Plan - The implementation period of the share buyback plan will expire on October 10, 2025 [1] - Baoti Group executed the buyback through the Shanghai Stock Exchange's centralized bidding system [1] - The total amount spent on the buyback was approximately 239 million yuan [1] Group 2: Company Financials - For the first half of 2025, Baoti Co.'s revenue composition was as follows: titanium products accounted for 86.74%, other metal products for 8.74%, and other businesses for 4.52% [1] - As of the report date, Baoti Co. has a market capitalization of 15.7 billion yuan [1]

宝鸡钛业股份有限公司 关于控股股东增持公司股份计划实施完毕 暨增持结果的公告 证券代码：600456 证券简称：宝钛股份 公告编号：2025-049 （一）增持计划的实施结果 | 增持主体名称 | 宝钛集团有限公司 | | --- | --- | | 增持计划首次披露日 | 2025 年 4 月 11 日 | | 增持计划拟实施期间 | 2025 年 4 月 11 日～2025 年 10 月 10 日 | | 增持计划拟增持金额 | 不低于 1.5 亿元且不超过 3 亿元人民币 | | 增持计划拟增持数量 | 未设置具体增持数量 | | 增持计划拟增持比例 | 增持比例不低于公司总股本的 1%且不超过公司总股本 | | | 的 2% | | 增持股份实施期间 | 2025 年 4 月 11 日～2025 年 10 月 10 日 | | 增持股份结果 | 通过上海证券交易所以集中竞价方式，累计增持公司 | | 对应方式及数量 | 7,791,653 股 A 股股份 | | 累计增持股份金额 | 238,599,087.21 元（不含交易费用） | | 累计增持股份比例 | 1.6308% | | （占总股本） ...

Core Viewpoint - Baotai Co., Ltd. (600456.SH) has successfully completed its share buyback plan, exceeding the lower limit of the intended amount and proportion [1] Group 1: Buyback Plan Details - The implementation period of the buyback plan will expire on October 10, 2025 [1] - During the buyback period, Baotai Group has cumulatively acquired 7.7917 million shares, accounting for 1.6308% of the company's total share capital [1] - The total amount spent on the buyback reached 239 million yuan, excluding transaction fees [1]

Core Insights - The article highlights the strong growth and innovation in the titanium industry in Shaanxi Province, particularly through the efforts of Baotai Group, which has become a leader in titanium production and processing [1][2][3]. Industry Overview - Shaanxi's titanium production and processing volume is expected to reach nearly 70,000 tons in 2024, with an annual output value exceeding 60 billion yuan, accounting for 65% of China's total and 33% of global production [1]. - Baotai Group has made significant advancements in smelting, processing, and manufacturing equipment, driving technological progress and high-quality development in the province's titanium industry [1]. Product Development - Baotai Group has expanded its product offerings, with over 200 types of consumer titanium products now available, and has made breakthroughs in key technologies for deep-sea submersible components [2][3]. - The company is actively developing new applications in emerging fields such as renewable energy, consumer electronics, and medical devices, enhancing its market share in high-end titanium products [3]. Technological Advancements - Baotai Group has established the first domestically designed and developed hot continuous rolling production line for titanium and titanium alloys, capable of producing high-value rod and wire products [4]. - The company has achieved significant breakthroughs in the production of Hastelloy alloy, a high-end nickel-based alloy, which has historically been reliant on imports [5]. Innovation and Efficiency - The establishment of innovation studios within Baotai Group has improved production efficiency and fostered a culture of innovation among employees, leading to substantial cost savings [6]. - The company has maintained its position as the world's largest producer of titanium products since 2021, despite facing challenges such as market adjustments and raw material price fluctuations [7]. Market Impact - Baotai Group's growth has spurred the establishment of over 600 titanium processing and trading enterprises in Baoji, producing more than 300 types and over 5,000 specifications of titanium products for various industries [7].

Group 1 - The core viewpoint of the news is that Baotai Co., Ltd. has shown a significant increase in stock price and trading activity, indicating positive market sentiment and potential investment opportunities [1][2]. - As of October 9, Baotai's stock price rose by 2.03% to 33.19 CNY per share, with a trading volume of 4.51 billion CNY and a market capitalization of 15.857 billion CNY [1]. - Year-to-date, Baotai's stock has increased by 18.28%, with a 6.00% rise in the last five trading days, 5.26% in the last 20 days, and 10.38% in the last 60 days [1]. Group 2 - Baotai's main business involves the production, processing, and sales of titanium and titanium alloys, with revenue composition being 86.74% from titanium products, 8.74% from other metal products, and 4.52% from other sources [1][2]. - For the first half of 2025, Baotai reported a revenue of 2.967 billion CNY, a year-on-year decrease of 20.45%, and a net profit attributable to shareholders of 205 million CNY, down 49.00% year-on-year [2]. - The company has distributed a total of 2.523 billion CNY in dividends since its A-share listing, with 569 million CNY distributed in the last three years [3]. Group 3 - As of June 30, 2025, Baotai had 63,000 shareholders, a decrease of 2.94% from the previous period, with an average of 7,588 circulating shares per shareholder, an increase of 3.03% [2][3]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited as the second-largest shareholder, holding 13.277 million shares, a decrease of 2.022 million shares from the previous period [3].