Group 1: Vanadium Market Insights - Over 90% of vanadium products are used in the steel metallurgy industry, indicating a strong correlation between vanadium supply and demand with the steel industry [2][3] - The implementation of new rebar standards is expected to positively impact vanadium demand [2] - Anticipated resumption of production from stone coal vanadium extraction may increase supply, but high environmental processing costs limit significant output increases [2][3] - Expansion of vanadium applications in non-steel sectors may offset some impacts of new production capacity on demand [3] Group 2: Titanium Market Insights - The domestic titanium product market is currently in a state of slight oversupply [3] - There is significant development potential in the central and western regions of China, which lag behind the eastern coastal areas in urbanization [3] - Driven by national demand stimulation and consumer upgrades, the demand for titanium dioxide is expected to continue growing [3] - Domestic titanium dioxide production capacity is also on the rise, maintaining the slight oversupply situation for an extended period [3] Group 3: Titanium Dioxide Production Capacity - The company has a production capacity of 220,000 tons/year for sulfate titanium dioxide and 15,000 tons/year for chloride titanium dioxide, ranking among the top three in the country [3] - The company has maintained a high utilization rate for its titanium dioxide production in recent years [3]