Financial Performance - The company's operating revenue for 2020 was RMB 4,337,699,383.28, an increase of 3.58% compared to RMB 4,187,620,210.76 in 2019[32] - The net profit attributable to shareholders of the listed company reached RMB 362,656,356.23, representing a significant increase of 51.10% from RMB 240,010,609.72 in the previous year[32] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 318,759,747.72, up 54.82% from RMB 205,896,327.25 in 2019[32] - The net cash flow from operating activities was RMB 404,034,734.49, a remarkable increase of 667.25% compared to RMB 52,659,989.63 in 2019[32] - As of the end of 2020, the net assets attributable to shareholders of the listed company were RMB 4,010,838,574.73, an increase of 7.41% from RMB 3,734,248,204.86 at the end of 2019[32] - The total assets of the company at the end of 2020 amounted to RMB 8,749,124,415.59, reflecting an 8.00% increase from RMB 8,101,396,780.40 in 2019[32] - Basic earnings per share increased by 51.11% to CNY 0.8429 in 2020 compared to CNY 0.5578 in 2019[33] - The weighted average return on equity rose by 2.7984 percentage points to 9.3996% in 2020 from 6.6012% in 2019[33] - The company achieved an operating revenue of 4.338 billion yuan and a net profit attributable to shareholders of 363 million yuan in 2020, with titanium product sales volume reaching 18,829.15 tons, including 14,049.27 tons of titanium materials[71] Dividend Distribution - The company plans to distribute a cash dividend of RMB 10.5 per 10 shares, totaling RMB 501,666,415.95 based on the total share capital of 477,777,539 shares[6] - In 2020, the company reported a cash dividend of RMB 10.5 per share, amounting to RMB 501,666,415.95, which represents 138.33% of the net profit attributable to ordinary shareholders[182] - The company plans to distribute cash dividends of RMB 2 per 10 shares, totaling RMB 86,053,140, based on a total share capital of 430,265,700 shares[175] Market Position and Strategy - The company is recognized as the largest production and research base for titanium and titanium alloys in China, with advanced production systems[49] - The company has established long-term strategic partnerships with major clients such as Boeing and Airbus, enhancing its market competitiveness[63] - The company is recognized as the largest specialized rare metal production and research base in China, with its titanium production capacity ranking among the top in the world[63] - The company is actively expanding its market presence in aerospace, deep-sea exploration, and other high-tech industries, aiming to increase the application ratio of titanium materials in these fields[59] - The company focused on expanding into high-end markets such as aerospace, marine engineering, and medical applications, aiming to cultivate new profit growth points[75] - The company aims to expand its market presence by optimizing product structure and promoting new applications for titanium materials, targeting new profit growth points[165] Research and Development - The company has a strong R&D capability, having completed over 8,000 national research projects and achieved more than 700 research results[64] - Research and development expenses rose by 73.70% to 161 million RMB, driven by increased investment in R&D projects[86] - The total R&D investment for the period was ¥161,487,482.97, accounting for 3.72% of operating revenue[104] - The number of R&D personnel was 160, representing 4.02% of the total workforce[104] - The company emphasized the importance of research and development, targeting world-class market trends and increasing investment in new products and technologies to enhance market share[144] Operational Efficiency - The company optimized its product structure, leading to improved operational efficiency and increased profitability during the reporting period[36] - The company implemented 45 technological reform projects in 2020, achieving a comprehensive equipment integrity rate of 99.36%, significantly improving production capacity[80] - The company is advancing its smart manufacturing initiatives by integrating MES systems and utilizing big data to improve production efficiency and reduce costs[152] - The company will continue to optimize its production capacity and operational efficiency to meet market demands[139] Risk Management - The company has detailed descriptions of industry and market risks in the report, highlighting potential challenges for future development[10] - The company recognizes the financial risk associated with customer payment delays and will establish strong relationships to ensure timely collection of accounts receivable[168] - The company faces exchange rate risks due to its import and export activities and will monitor the foreign exchange market to mitigate potential impacts[169] - The company faces risks related to raw material price fluctuations, particularly in sponge titanium, which significantly impacts production costs[171] - The company has established a comprehensive environmental risk management system to minimize the probability of environmental risk incidents[171] Corporate Governance - The company has a well-defined corporate governance structure and management system, ensuring efficient and high-quality operational activities[67] - The company has a clear profit distribution policy that aligns with regulatory requirements, ensuring the protection of minority shareholders' rights[177] - The company has established strict regulations for related party transactions, ensuring compliance with relevant laws and internal policies[188] - The company is focused on maintaining compliance with regulations regarding related party transactions to protect shareholder rights[188] - The company committed to maintaining its independence and not interfering in management activities, ensuring no infringement on the interests of the listed company[197] Environmental and Social Responsibility - The company successfully completed all environmental assessment indicators and key tasks in 2020, with no major safety or environmental incidents reported[81] - The company will enhance its environmental protection measures to comply with increasingly stringent regulations and ensure pollution control[169] - The company has implemented various measures to combat the COVID-19 pandemic, including detailed emergency plans and management strategies[172] - The company has committed to enhancing its emergency response capabilities to ensure high-quality development despite ongoing uncertainties in the economic environment[172] Investor Relations - The company aims to strengthen investor relations by ensuring timely and accurate information disclosure and facilitating two-way communication with investors[154] - The company plans to enhance the quality and transparency of its annual report disclosures and engage with investors through various channels to build a positive market image[155] - The company will strictly adhere to the information disclosure requirements set by regulatory authorities, ensuring timely and accurate reporting of financial and operational status[156] - The company will conduct regular training for investor relations personnel to improve the quality of investor communication and management[164]

2020 年第三季度报告 公司代码：600456 公司简称：宝钛股份 宝鸡钛业股份有限公司 2020 年第三季度报告 1 / 24 2020 年第三季度报告 一、 重要提示 二、 公司基本情况. 11[ 重要事项 四、 附录 目录 2 / 24 2020 年第三季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人王文生、主管会计工作负责人宋朝利及会计机构负责人（会计主管人员）宋朝利保证 季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |----------------------------------------------|------------------------------|------------------------------------|---- ...

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 2,037,517,397.10, representing a 3.67% increase compared to CNY 1,965,365,917.43 in the same period last year[22]. - The net profit attributable to shareholders of the listed company reached CNY 142,152,561.49, a 28.64% increase from CNY 110,504,337.75 in the previous year[22]. - The net cash flow from operating activities improved significantly to CNY 48,751,191.50, compared to a negative cash flow of CNY -175,939,293.03 in the same period last year, marking a 127.71% increase[22]. - Basic earnings per share for the first half of 2020 were CNY 0.3304, up 28.66% from CNY 0.2568 in the same period last year[25]. - The company's operating revenue for the first half of 2020 was 2.038 billion yuan, representing a growth of 3.67% year-on-year[48]. - In the first half of 2020, the company achieved a net profit of 142 million yuan, an increase of 28.64% compared to the same period last year[47]. - The company's total profit for the first half of 2020 was CNY 203.69 million, compared to CNY 150.34 million in the same period of 2019, marking an increase of approximately 35.4%[192]. Assets and Liabilities - The total assets of the company increased by 10.07% to CNY 8,917,208,086.03 from CNY 8,101,396,780.40 at the end of the previous year[25]. - The total liabilities increased to CNY 4,741,963,695.55 from CNY 3,932,593,397.09, representing a rise of about 20.6%[186]. - The company's total liabilities increased, with accounts payable rising by 35.87% to CNY 1,010,560,209.25 from CNY 743,760,735.96 last year[63]. - The total amount of cash and cash equivalents at the end of the reporting period was CNY 1,245,032,236.71, a 40.15% increase from CNY 888,384,237.07 in the previous year[63]. Research and Development - Research and development expenses rose by 46.89% to CNY 55,562,414.26, primarily due to increased funding for R&D projects[58]. - The company has completed over 8,000 national scientific research projects and achieved more than 700 research results, contributing significantly to national defense modernization and advanced technology development[3]. - The company is focusing on developing high value-added and high-tech products to pursue sustainable development[75]. - Research and development expenses for the first half of 2020 amounted to CNY 54.26 million, which is an increase from CNY 35.81 million in the same period of 2019, representing a growth of about 51.5%[192]. Market and Industry Position - The company is the largest producer of titanium and titanium alloys in China, with a comprehensive production system for various specifications of titanium products[32]. - The company aims to enhance the application ratio of titanium materials in aerospace, shipbuilding, and deep-sea industries, focusing on high-end titanium market share[38]. - The titanium industry is strategically significant for national defense and economic development, with strong government support for its growth[37]. - The market for mid-to-low-end titanium products is expected to gradually recover in the second half of 2020, despite ongoing uncertainties[37]. Corporate Governance and Compliance - The company has established a comprehensive governance structure and advanced management systems, ensuring efficient and high-quality operational activities[9]. - The company has established strict regulations for related party transactions to ensure fairness and protect minority shareholders' interests[86]. - The company has committed to avoiding any business competition with its controlling shareholder, BaoTi Group, following asset acquisitions[93]. - The company has received no penalties or corrective actions against its directors, supervisors, or controlling shareholders during the reporting period[96]. Environmental and Social Responsibility - The company has established a comprehensive environmental protection system to comply with national standards[79]. - The company has adhered to environmental regulations, with all pollutants discharged within national standards, and has not faced any penalties from environmental authorities[113]. - The company has implemented targeted poverty alleviation measures, including direct assistance to 248 impoverished households, providing essential goods such as rice and oil[109]. - The company has actively engaged in community support activities, including donations of daily necessities to local mutual aid centers[109]. Financial Management - The company has implemented a non-public offering plan to raise up to 2.3 billion RMB by issuing 119 million shares to five strategic investors[137]. - The issuer's credit rating is AA, and the bond rating is AAA, with a stable outlook[157]. - Current ratio decreased by 23.24% to 1.85 compared to the previous year-end of 2.42, primarily due to the reclassification of a 400 million RMB two-year bank loan to current liabilities[162]. - The company maintained a loan repayment rate of 100% during the reporting period[166].

2020 年第一季度报告 公司代码：600456 公司简称：宝钛股份 债券代码：155801/155802 债券简称：19 宝钛 01/19 宝钛 02 股份有限公司 2020 年第一季度报告 1 / 21 2020 年第一季度报告 重要提示 . 一、 二、 公司基本情况 . 11Í 重要事项 . 四、 附录 . 目录 2 / 21 2020 年第一季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人王文生、主管会计工作负责人宋朝利及会计机构负责人（会计主管人员）宋朝利 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |-------------------------------------------------|------------------|----- ...

Financial Performance - The company's operating revenue for 2019 was CNY 4,187,620,210.76, representing a 22.80% increase compared to CNY 3,410,193,856.18 in 2018[24]. - Net profit attributable to shareholders for 2019 was CNY 240,010,609.72, a significant increase of 70.11% from CNY 141,092,221.71 in 2018[24]. - The net profit after deducting non-recurring gains and losses was CNY 205,896,327.25, up 84.85% from CNY 111,384,006.17 in 2018[24]. - The total assets at the end of 2019 were CNY 8,101,396,780.40, an increase of 11.35% from CNY 7,275,552,583.21 at the end of 2018[24]. - Basic earnings per share for 2019 were CNY 0.5578, reflecting a 70.11% increase from CNY 0.3279 in 2018[24]. - The weighted average return on net assets increased by 2.5503 percentage points to 6.6012% in 2019 from 4.0509% in 2018[24]. - The company achieved an operating revenue of 4.188 billion yuan and a net profit attributable to shareholders of 240 million yuan in 2019, reflecting significant growth in product orders and sales volume[43]. - The company reported a net profit of CNY 29,432,180.71 in Q1 2019, with a total operating revenue of CNY 1,149,873,256.91[26]. Dividend and Profit Distribution - The board proposed a cash dividend of RMB 2 per 10 shares, totaling RMB 86,053,140 for all shareholders[6]. - The cash dividend for 2018 was RMB 0.1 per share, totaling RMB 43,026,570, which represents 30.50% of the net profit attributable to ordinary shareholders[160]. - The company reported a net profit of RMB 240,010,609.72 for 2019, with a dividend payout ratio of 35.85%[160]. - The company’s profit distribution policy has been revised to ensure clarity in distribution principles and procedures, protecting the rights of minority shareholders[159]. Operational Efficiency and Management - The company has implemented a production model based on sales demand, optimizing production plans and maintaining reasonable inventory levels to meet market needs[41]. - The company optimized its management structure and improved operational efficiency through a series of reforms, enhancing overall performance[60]. - The company completed 63 equipment improvement projects during the year, effectively reducing operational costs[70]. - The company implemented a significant upgrade of its information systems to enhance smart manufacturing capabilities[74]. - The company will enhance contract execution efficiency, making on-time delivery a key performance indicator, and implement a smart information system to improve production responsiveness[131]. - The company will strengthen process quality control, aiming to reduce production costs and improve product quality through targeted research and process optimization[134]. Research and Development - The company has a strong R&D capability, having completed over 8,000 national research projects and achieved more than 700 research results, contributing significantly to national defense and advanced technology[51]. - The company focused on technological innovation, with significant progress in research projects related to titanium alloys for deep-sea submersibles and aerospace applications[66]. - The company plans to accelerate the research and development of new products and technologies, particularly in high-end titanium applications, while also enhancing its smart manufacturing capabilities[130]. - R&D expenses amounted to ¥92,970,610.43, representing 2.22% of total revenue[93]. Market Position and Strategy - The company is the largest producer of titanium and titanium alloys in China, with its main products being titanium plates, strips, foils, pipes, rods, and various metal composite materials[38]. - The company has established long-term strategic partnerships with major clients such as Boeing, Airbus, and Rolls-Royce, enhancing its market competitiveness[51]. - The company is focusing on increasing the application ratio of titanium materials in aerospace, marine, and biomedical fields, aiming to capture high-end market opportunities[46]. - The company aims to improve its quality management system, with a focus on enhancing product quality stability and reducing quality disputes and accidents through comprehensive quality control measures[126]. Risk Management - The company has established a comprehensive risk management framework to address various operational risks, including technical, financial, and environmental risks[151]. - The company is exposed to foreign exchange risks due to its import and export activities, and it plans to strengthen its research on foreign exchange markets to minimize these risks[153]. - The company has committed to enhancing its environmental protection measures in response to stricter regulations, including regular inspections and maintenance of pollution control facilities[154]. - The company has implemented measures to mitigate financial risks related to accounts receivable by establishing strong relationships with customers and monitoring their financial status[151]. Social Responsibility - The company has committed CNY 80,000 to support poverty alleviation projects, including establishing a sheep farming base for 50 impoverished households[199]. - The company actively engages in social responsibility initiatives, including direct assistance to impoverished households and community support activities[199]. - The company has organized professional training in pepper planting and culinary services for poverty-stricken households[200]. - The implementation of national poverty alleviation policies has been effectively promoted through local initiatives[200]. Corporate Governance - The company emphasizes that forward-looking statements do not constitute substantive commitments to investors[7]. - The company will strictly adhere to regulatory requirements for information disclosure, ensuring that all reports are accurate and complete to maintain investor trust[142]. - The company is committed to maintaining a robust internal control system to ensure compliance and improve operational efficiency[146]. - The company will provide training for investor relations personnel to improve the quality and effectiveness of its investor relations management[148].

2019 年第三季度报告 公司代码：600456 公司简称：宝钛股份 宝鸡钛业股份有限公司 2019 年第三季度报告 1 / 27 2019 年第三季度报告 一、 重要提示 二、 公司基本情况. 11[ 重要事项 四、 附录 目录 2 / 27 2019 年第三季度报告 单位：元 币种：人民币 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人王文生、主管会计工作负责人宋朝利及会计机构负责人（会计主管人员）宋朝利 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | |----------------------------------------------|------------------------------|------------------------------------|---- ...

Financial Performance - The company's operating revenue for the first half of 2019 was CNY 1,965,365,917.43, representing a 24.42% increase compared to CNY 1,579,610,233.62 in the same period last year[22]. - The net profit attributable to shareholders of the listed company reached CNY 110,504,337.75, a significant increase of 225.00% from CNY 34,001,694.92 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was CNY 101,392,118.86, up 299.72% from CNY 25,365,826.15 in the same period last year[24]. - The basic earnings per share for the reporting period was CNY 0.2568, which is a 225.06% increase compared to CNY 0.0790 in the previous year[24]. - The company achieved a net profit of 110.50 million yuan in the first half of 2019, representing a 225% increase compared to the same period last year[51]. - The company's net profit for the first half of 2019 was 101.39 million yuan, a year-on-year increase of 299.72%[79]. - The company reported a total comprehensive income of ¥130,636,399.94 for the first half of 2019, compared to ¥39,311,826.02 in the same period of 2018, an increase of 232.5%[171]. Cash Flow and Assets - The net cash flow from operating activities was negative CNY 175,939,293.03, a decrease of 235.74% compared to CNY 129,615,722.42 in the same period last year[24]. - The company's cash and cash equivalents decreased from RMB 1,062,675,222.37 at the end of 2018 to RMB 960,917,303.88 by June 30, 2019, a decline of approximately 9.6%[152]. - The total assets of the company at the end of the reporting period were CNY 7,899,897,685.55, an increase of 8.58% from CNY 7,275,552,583.21 at the end of the previous year[24]. - The total current assets increased from RMB 4,605,656,255.94 at the end of 2018 to RMB 5,281,578,625.57, a growth of about 14.7%[152]. - The total liabilities reached CNY 3,972,596,081.43, compared to CNY 3,418,071,445.23, indicating an increase of approximately 16.2%[157]. Research and Development - Research and development expenses rose by 54.32% to ¥37,825,671.40, up from ¥24,511,954.19, primarily due to increased investment in R&D[60]. - The company has established multiple research and development centers, enhancing its core competitiveness and profitability[43]. - The company has undertaken over 8,000 national research projects and achieved more than 700 research results, contributing significantly to national defense modernization and advanced technology development[42]. Market Position and Strategy - The company is the largest producer and research base for titanium and titanium alloys in China, with a comprehensive production system for various titanium products[34]. - The company aims to increase the application ratio of titanium materials in high-end sectors such as aerospace and deep-sea industries[40]. - The overall market demand for titanium products is expected to rise, driven by structural adjustments and industrial upgrades in the economy[38]. - The company has a strategy to enhance R&D efforts to improve market share in high-end titanium applications[40]. Environmental Compliance - The company has committed to environmental protection and safety measures, ensuring no major environmental incidents occurred in the first half of 2019[60]. - The company reported that its subsidiary, Baotai Huasheng, complied with environmental regulations, with all pollutants discharged meeting national standards[114]. - The company has implemented various poverty alleviation measures, including industry support and health initiatives[109]. - The company has not reported any penalties from environmental authorities during the reporting period[114]. Corporate Governance - The company has established a comprehensive corporate governance structure and advanced management systems, ensuring efficient and high-quality operations[47]. - The actual controller and shareholders have committed to avoiding competition with the company, ensuring no direct or indirect competition in the domestic and overseas markets[89]. - The company has strict compliance with related party transactions, ensuring fairness and protection of minority shareholders' interests[89].

2019 年第一季度报告 公司代码：600456 公司简称：宝钛股份 宝鸡钛业股份有限公司 2019 年第一季度报告 1 / 25 2019 年第一季度报告 í 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 25 2019 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 未出席董事情况 未出席董事姓名 未出席董事职务 未出席原因的说明 被委托人姓名 张克东 独立董事 有事 万学国 1.3 公司负责人王文生、主管会计工作负责人韦化鹏及会计机构负责人（会计主管人员）宋朝利 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | --- | --- | --- | |----------------------- ...

2018 年年度报告 公司代码：600456 公司简称：宝钛股份 宝鸡钛业股份有限公司 2018 年年度报告 1 / 194 2018 年年度报告 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证年度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 未出席董事情况 未出席董事职务 未出席董事姓名 未出席董事的原因说明 被委托人姓名 董事 雷让岐 有事 王文生 三、 希格玛会计师事务所（特殊普通合伙）为本公司出具了标准无保留意见的审计报告。 四、 公司负责人王文生、主管会计工作负责人韦化鹏及会计机构负责人（会计主管人员）宋 朝利声明：保证年度报告中财务报告的真实、准确、完整。 五、 经董事会审议的报告期利润分配预案或公积金转增股本预案 董事会拟以公司总股本430,265,700股为基数，向全体股东按每10股派发现金股利人民币1元（含税 ），共计派发现金红利43,026,570.00元（含税）。本年度不以资本公积金转增股本。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承 ...

2018 年第三季度报告 公司代码：600456 公司简称：宝钛股份 宝鸡钛业股份有限公司 2018 年第三季度报告 1 / 22 2018 年第三季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人王文生、主管会计工作负责人韦化鹏及会计机构负责人（会计主管人员）宋朝利 保证季度报告中财务报表的真实、准确、完整。 1.4 本公司第三季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 3 / 22 | 目录 | | --- | | 一、 | 重要提示 | 3 | | --- | --- | --- | | 二、 | 公司基本情况 | 3 | | 三、 | 重要事项 | 6 | | 四、 | 附录 | 9 | 单位：元 币种：人民币 本报告期末 上年度末 本报告期末比上年度 末增减(%) 总资产 7,329,312,673.76 6,899,637,843.92 6.23 归属于上市公司股 东的净资产 3,5 ...