Group 1 - The company will participate in the "2025 Hunan Listed Companies Investor Online Collective Reception Day" event to enhance interaction with investors [1] - The event will be held online on September 19, 2025, from 14:00 to 17:00 [1] - Company executives will communicate with investors regarding their concerns during the event [1]

为进一步加强与投资者的互动交流，湖南湘投金天钛业科技股份 有限公司（以下简称公司）将参加由湖南证监局、湖南省上市公司协 会与深圳市全景网络有限公司联合举办的"资本聚三湘 楚光耀新程 ——2025 年湖南辖区上市公司投资者网上集体接待日"活动，现将 相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演" 网站（https://rs.p5w.net），或关注微信公众号：全景财经，或下载全 景路演 APP，参与本次互动交流，活动时间为 2025 年 9 月 19 日（星 期五）14:00-17:00。届时公司高管将在线就投资者关心的问题与投资 者进行沟通与交流，欢迎广大投资者踊跃参与！ 特此公告。 湖南湘投金天钛业科技股份有限公司 证券代码：688750 证券简称：金天钛业 公告编号：2025-028 湖南湘投金天钛业科技股份有限公司 关于参加 2025 年湖南辖区上市公司投资者网上 集体接待日活动的公告 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、准确性和完整性依法承担法律责任。 2025 年 9 月 13 日 1 董事会 ...

Core Viewpoint - The industrial metal sector in A-share listed companies has shown overall profit improvement as of the first half of 2025, with many companies reporting a turnaround from losses to profits or an increase in profits compared to the previous year [1] Group 1: Profit Improvement - Among the 23 selected industrial metal companies, 8 companies reported both revenue and profit growth, including Northern Rare Earth, Dongfang Tantalum, and others [1] - 7 companies turned losses into profits, such as China Rare Earth, Yunnan Germanium, and others, with notable profit recoveries [1] - China Rare Earth's net profit improved from a loss of 244 million yuan in H1 2024 to a profit of 162 million yuan in H1 2025 [2] - Yunnan Germanium's net profit shifted from a loss of 9 million yuan to a profit of 22 million yuan [2] - Shenghe Resources reported a net profit turnaround from a loss of 69 million yuan to a profit of 377 million yuan [2] Group 2: Revenue and Profit Decline - Companies such as Western Materials, Baotai Co., and Jintian Titanium reported declines in both revenue and profit [2][8] - Western Materials' revenue decreased by 0.35% to 1.539 billion yuan, with a net profit drop of 36.03% to 61.16 million yuan [3][8] - Baotai Co. saw a 20.45% decline in revenue to 2.967 billion yuan and a 49% drop in net profit to 205 million yuan [8] - Jintian Titanium's revenue fell by 22.38% to 318 million yuan, with a net profit decrease of 49.71% to 40.53 million yuan [8] Group 3: Mixed Performance - Companies like Zhongkuang Resources, Xiamen Tungsten, and others experienced revenue growth but profit declines [4][5] - Zhongkuang Resources' revenue increased by 34.89% to 3.267 billion yuan, but net profit plummeted by 81.16% to 89.13 million yuan [6][7] - Xiamen Tungsten's revenue decreased by 4.37% to 972 million yuan, with a net profit decline of 46.47% to 64.12 million yuan [5][6] - Baowu Magnesium's net profit fell by 46.47% despite revenue growth [7]

Core Viewpoint - The analysis focuses on the inventory status of 23 representative industrial metal companies as of the first half of 2025, highlighting significant changes in inventory scale and turnover efficiency. Inventory Scale Analysis - In the first half of 2025, most industrial metal companies experienced an increase in inventory scale, with Huaxi Nonferrous's inventory growing the most, reaching 795 million yuan, a year-on-year increase of 51% [1] - The inventory scale of Guiyan Platinum Industry was 7.391 billion yuan, up 44.24% year-on-year, with inventory accounting for 37.34% of total assets [2][3] - Other companies with notable inventory scales include: - Xianglu Tungsten Industry: 781 million yuan, up 10.97%, 36.36% of total assets [2][3] - China Rare Earth: 2.025 billion yuan, up 28.61%, 36.14% of total assets [2][3] - Northern Rare Earth: 15.958 billion yuan, up 16.74%, 33.73% of total assets [2][3] - Guangsheng Nonferrous: 2.406 billion yuan, up 7.01%, 30.76% of total assets [2][3] Inventory Turnover Efficiency - Most companies reported inventory turnover days below 180 days, indicating efficient inventory management [3] - Companies with low inventory turnover efficiency and turnover days exceeding 300 days include: - Baotai Co., Ltd.: 312.34 days [3] - Yunnan Geology: 327.51 days [3] - Jintian Titanium Industry: 330.15 days [3]

| 序号 | 工作内容 | 持续督导情况 | | --- | --- | --- | | | 建立健全并有效执行持续督导工作制度， | 联席保荐机构已建立健全并有效执行持续 | | 1 | 并针对具体的持续督导工作制定相应的工作 | 督导工作制度，并针对公司的具体情况制 | | | 计划。 | 定了相应的持续督导工作计划。 | | | 根据中国证监会相关规定，在持续督导工作 | 联席保荐机构已与金天钛业签订承销及保 | | | 开始前，与上市公司或相关当事人签署持续 | 荐协议，该协议明确了双方在持续督导期 | | 2 | 督导协议，明确双方在持续督导期间的权利 | 间的权利和义务，并报上海证券交易所备 | | | 义务，并报上海证券交易所备案。 | 案。 | | | | 上半年持续督导期间，联席保荐机构 2025 | | | 通过日常沟通、定期回访、现场检查、尽职 | 通过日常沟通、定期或不定期回访等方式， | | 3 | 调查等方式开展持续督导工作。 | 了解金天钛业业务情况，对金天钛业开展了 | | | | 持续督导工作。 | | | 持续督导期间，按照有关规定对上市公司违 | 上半年持续督导期间，金天 ...

证券代码：688750 证券简称：金天钛业 公告编号：2025-027 特此公告。 湖南湘投金天钛业科技股份有限公司 董事会 2025 年 9 月 10 日 湖南湘投金天钛业科技股份有限公司 关于控股股东变更名称并完成工商变更登记的公告 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、准确性和完整性依法承担法律责任。 湖南湘投金天钛业科技股份有限公司（以下简称公司）于近日收 到公司控股股东通知，公司控股股东名称由"湖南湘投金天科技集团 有限责任公司"变更为"湖南能源集团金天科技有限公司"。相关信 息已完成工商变更登记手续。 上述事项不涉及公司股权变动，对公司经营活动不构成影响，不 会导致公司直接控股股东、间接控股股东及实际控制人发生变化。 ...

Group 1 - The core business of the company is focused on the research, production, and sales of high-end titanium and titanium alloy materials, primarily used in aerospace, naval, and military equipment [2] - As of June 30, 2025, the company reported a revenue of 318 million yuan, a year-on-year decrease of 22.38%, and a net profit attributable to shareholders of 40.53 million yuan, down 49.71% year-on-year [2] - The company has a total of 15,800 shareholders as of June 30, 2025, which is a decrease of 8.33% from the previous period, with an average of 5,283 circulating shares per shareholder, an increase of 17.30% [2] Group 2 - On September 3, 2023, the company's stock price fell by 6.46%, with a trading volume of 163 million yuan [1] - The financing data on September 3, 2023, shows a financing buy-in amount of 16.56 million yuan and a financing repayment of 21.02 million yuan, resulting in a net financing outflow of 4.47 million yuan [1] - The total balance of margin trading for the company as of September 3, 2023, is 141 million yuan, accounting for 7.72% of the circulating market value [1]

Group 1 - The core viewpoint of the news is the performance and market position of Jintian Titanium Industry, which experienced a 5.02% drop in stock price, currently at 22.34 CNY per share, with a total market capitalization of 10.332 billion CNY [1] - Jintian Titanium Industry, established on April 8, 2004, is located in Changde Economic and Technological Development Zone, Hunan Province, and specializes in the R&D, production, and sales of high-end titanium and titanium alloy materials [1] - The company's main products include titanium and titanium alloy bars, forgings, and components, primarily used in high-end equipment fields such as aviation, aerospace, naval vessels, and weaponry [1] Group 2 - According to the data, Bosera Fund's Bosera Innovation Economy Mixed A (010994) has entered the top ten circulating shareholders of Jintian Titanium Industry, holding 715,100 shares, which accounts for 0.86% of the circulating shares [2] - The fund has reported a year-to-date return of 39.31% and a one-year return of 70.41%, ranking 1248 out of 8180 and 1190 out of 7967 respectively [2] - The fund manager, Tian Junwei, has a tenure of 10 years and 94 days, with the best fund return during this period being 164.21% [3] Group 3 - Bosera Innovation Economy Mixed A (010994) has Jintian Titanium Industry as its eighth largest holding, with 715,100 shares representing 3.04% of the fund's net value [4] - The estimated floating loss for the fund today is approximately 843,800 CNY [4]

Group 1 - The core business of the company is focused on the research, production, and sales of high-end titanium and titanium alloy materials, primarily used in aerospace, naval, and military equipment [2] - As of June 30, 2025, the company reported a revenue of 318 million yuan, a year-on-year decrease of 22.38%, and a net profit attributable to shareholders of 40.53 million yuan, down 49.71% year-on-year [2] - The company has a total of 15,800 shareholders as of June 30, 2025, which is a decrease of 8.33% from the previous period, with an average of 5,283 circulating shares per shareholder, an increase of 17.30% [2] Group 2 - On September 2, 2025, the company's stock price fell by 2.81%, with a trading volume of 143 million yuan [1] - The financing buy-in amount on September 2 was 13.01 million yuan, while the financing repayment was 11.58 million yuan, resulting in a net financing buy-in of 1.43 million yuan [1] - The total balance of margin trading for the company as of September 2 is 146 million yuan, accounting for 7.45% of the circulating market value [1] Group 3 - The company has cumulatively distributed 38.85 million yuan in dividends since its A-share listing [3] - As of June 30, 2025, the fourth largest circulating shareholder is Bosera Innovation Economy Mixed A, holding 715,100 shares as a new shareholder [3] - Western Capital Event-Driven Stock A has exited the list of the top ten circulating shareholders [3]

Investment Rating - The report maintains an "Outperform" rating for the company [1]. Core Views - The company reported H1 2025 results that met expectations, with revenue of 320 million yuan, down 22.4% year-on-year, and a net profit of 40 million yuan, down 49.7% year-on-year. Q2 2025 revenue was 180 million yuan, down 10.9% year-on-year but up 38.5% quarter-on-quarter, indicating a sequential improvement in performance [4][7]. - The company is expected to benefit from growth in three key sectors: aviation, marine equipment, and civil aviation, with new product launches and market expansions driving future revenue [7]. Financial Data and Profit Forecast - Revenue projections for 2025E are set at 950 million yuan, with a year-on-year growth rate of 17.5%. The net profit forecast for 2025E is 170 million yuan, reflecting an 11.8% increase year-on-year [6]. - The company’s gross margin for H1 2025 was 34.32%, a decrease of 4.8 percentage points compared to H1 2024, primarily due to product mix adjustments. The net profit margin was 12.76%, down 6.94 percentage points year-on-year [7]. - The company is projected to achieve net profits of 170 million yuan in 2025, 237 million yuan in 2026, and 333 million yuan in 2027, with corresponding price-to-earnings ratios of 64, 46, and 33 times [7].