Core Viewpoint - The report highlights the financial performance and operational challenges faced by Anhui Annada Titanium Industry Co., Ltd. in the first half of 2025, with a significant decline in revenue and net profit compared to the previous year, primarily due to weak demand in the downstream market and increased competition in the titanium dioxide industry [2][3][4]. Company Overview and Financial Indicators - Anhui Annada Titanium Industry Co., Ltd. is listed on the Shenzhen Stock Exchange under the stock code 002136, with a focus on the production and sale of titanium dioxide and iron phosphate products [2]. - The company reported a revenue of approximately CNY 875.93 million in the first half of 2025, a decrease of 10.51% compared to CNY 978.81 million in the same period last year [3][19]. - The net profit attributable to shareholders was a loss of CNY 26.27 million, a decline of 158.08% from a profit of CNY 45.23 million in the previous year [3][19]. - The company’s basic earnings per share were -0.1222, down from 0.2103 in the previous year, indicating a significant drop in profitability [3][19]. Industry Analysis - The titanium dioxide industry in China has seen rapid growth since the mid-1990s, with production increasing from 140,000 tons in 1998 to 4.766 million tons in 2024 [4]. - In the first half of 2025, China's titanium dioxide production was approximately 2.3953 million tons, remaining stable compared to the previous year [4]. - The market for titanium dioxide is influenced by the performance of downstream industries such as real estate, packaging materials, plastics, and automotive, with current demand being affected by a slowdown in the real estate sector [4][5]. Market Conditions - The titanium dioxide market experienced two phases in the first half of 2025: an initial price increase due to supply-demand imbalances followed by a decline in prices due to high inventory levels and reduced market activity [4][5]. - Domestic demand for titanium dioxide has been limited, with a reported decrease in exports by 5.75% year-on-year, totaling 916,600 tons in the first half of 2025 [5][6]. Product and Business Model - The company primarily produces rutile and anatase titanium dioxide, which are used in various industries including coatings, plastics, and paper [8][9]. - The production process involves purchasing titanium concentrate and using the sulfate method for processing [9]. - The company has also ventured into the production of iron phosphate, which is a key material for lithium iron phosphate batteries, benefiting from the growth in the new energy vehicle sector [6][10]. Competitive Position - As one of the few publicly listed titanium dioxide manufacturers in China, the company holds a competitive edge in product quality and has established a strong brand presence in the market [10][12]. - The company has invested in technology and innovation, holding multiple patents and collaborating with universities for research and development [10][14]. Future Outlook - The company aims to enhance its product competitiveness through technological upgrades and cost reduction strategies, while also expanding its market presence in both domestic and international markets [12][13]. - The growth of the new energy sector is expected to drive demand for iron phosphate, positioning the company favorably for future opportunities [6][10].

Core Viewpoint - Anhui Anada Titanium Industry Co., Ltd. reported a significant decline in both revenue and net profit for the first half of 2025 compared to the same period in the previous year, indicating potential challenges in its operational performance [2][3]. Financial Performance - The company's operating revenue for the reporting period was approximately 875.93 million yuan, a decrease of 10.51% from 978.81 million yuan in the previous year [2]. - The net profit attributable to shareholders was a loss of approximately 26.27 million yuan, representing a decline of 158.08% from a profit of 45.23 million yuan in the same period last year [2]. - The net profit after deducting non-recurring gains and losses was approximately -28.14 million yuan, down 163.19% from 44.53 million yuan [2]. - The net cash flow from operating activities was -109.79 million yuan, an improvement of 38.17% compared to -177.56 million yuan in the previous year [2]. Earnings Per Share - Basic earnings per share were reported at -0.1222 yuan, a decrease of 158.11% from 0.2103 yuan [2]. - Diluted earnings per share were also -0.1222 yuan, reflecting the same percentage decline [2]. - The weighted average return on net assets was -2.24%, down from 3.76%, indicating a significant drop in profitability [2]. Assets and Equity - Total assets at the end of the reporting period were approximately 2.09 billion yuan, a slight decrease of 0.39% from 2.10 billion yuan at the end of the previous year [3]. - The net assets attributable to shareholders were approximately 1.15 billion yuan, down 2.04% from 1.17 billion yuan [3]. Shareholder Information - The largest shareholder, Wanhua Chemical Group Battery Technology Co., Ltd., holds 15.20% of the shares, followed by Tongling Chemical Industrial Group Co., Ltd. [4]. - The report indicates that there are no changes in the controlling shareholder or actual controller during the reporting period [4].

证券代码：002136 证券简称：安纳达 公告编号：2025－36 公告详细情况见《证券时报》、 《中国证券报》、巨潮资讯网（www.cninfo.com.cn）。 安徽安纳达钛业股份有限公司 第七届监事会第十七次会议决议公告 本公司及监事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 一、监事会会议召开情况 安徽安纳达钛业股份有限公司（以下简称"公司"）监事会于 2025 年 7 月 19 日以邮件及送达的方式发出召开第七届监事会第十七次会议通知，2025 年 7 月 决的监事 3 名，实际出席会议参与表决的监事 3 名，会议由公司监事周永金先生 主持。本次会议的召集召开符合《公司法》和《公司章程》的有关规定。 二、监事会会议审议情况 告全文及摘要》。 经审核，监事会认为董事会编制和审核安徽安纳达钛业股份有限公司2025 年半年度报告正文及全文的程序符合法律、行政法规和中国证监会的规定，报 告内容真实、准确、完整地反映了上市公司的实际情况，不存在任何虚假记 载、误导性陈述或重大遗漏。 准备》的议案。 公告详细情况见《证券时报》、 《中国证券报》、巨潮资讯网（www.cninf ...

第七届董事会第二十次会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 一、董事会会议召开情况 安徽安纳达钛业股份有限公司（以下简称"公司"）董事会于 2025 年 7 月 19 日以邮件及送达的方式发出召开第七届董事会第二十次会议通知，2025 年 7 月 决的董事 5 名，实际出席会议参与表决的董事 5 名，会议由公司董事长刘军昌先 生主持，公司监事、高管人员列席了会议。本次会议的召集、召开符合《公司法》 和《公司章程》的有关规定。 证券代码：002136 证券简称：安纳达 公告编号：2025－35 安徽安纳达钛业股份有限公司 《中国证券报》、巨潮资讯网（www.cninfo.com.cn）。 三、备查文件 经与会董事签字并加盖董事会印章的第七届董事会第二十次会议决议 特此公告 安徽安纳达钛业股份有限公司 董 事 会 二 0 二五年七月三十一日 准备》的议案。 公告详细情况见《证券时报》、 二、董事会会议审议情况 告全文及摘要》。 公告详细情况见《证券时报》、 《中国证券报》、巨潮资讯网（www.cninfo.com.cn）。 ...

证券代码：002136 证券简称：安纳达 公告编号：2025－34 安徽安纳达钛业股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 安徽安纳达钛业股份有限公司（以下简称"公司"）于 2025 年 7 月 29 日召 开第七届董事会第二十次会议，会议审议通过了 《关于计提资产减值准备的议 案》。根据《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监 管指南第 1 号—业务办理》的相关规定，现将计提资产减值的具体情况公告如 下： 一、本次计提资产减值准备情况概述 公司及所属控股子公司2025年半年度计提各项资产减值准备金额合计 （一）计提资产减值准备的原因 根据《企业会计准则》相关规定，为更加真实、准确地反映公司资产状况 和财务状况，公司对截至 2025 年 6月 30 日的资产进行全面清查，对可能发 生资产减值损失的资产计提减值准备。 （二）计提资产减值准备的资产范围、金额和计入的报告期间 类别 资产名称 | | 提减值准备金额 | | --- | --- | | 应收票据 | 45,549.45 | | 其他应收款 | 26,450.38 ...

安徽安纳达钛业股份有限公司 2025 年半年度财务报告 安徽安纳达钛业股份有限公司 Anhui Annada Titanium Industry Co.,Ltd. （未经审计） 证券代码：002136 证券简称：安纳达 披露日期：2025年7月31日 安徽安纳达钛业股份有限公司 2025 年半年度财务报告 合并资产负债表 编制单位：安徽安纳达钛业股份有限公司 2025 年 6 月 30 日 单位：人民币元 项目 2025 年 6 月 30 日 2024 年 12 月 31 日 流动资产： 货币资金 370,806,430.12 455,635,957.31 结算备付金 0 0 拆出资金 0 0 交易性金融资产 0 0 衍生金融资产 0 0 应收票据 105,397,556.11 142,944,274.57 应收账款 294,059,479.64 262,074,544.19 应收款项融资 62,961,949.96 62,261,802.42 预付款项 55,584,467.50 32,193,453.90 应收保费 0 0 应收分保账款 0 0 应收分保合同准备金 0 0 其他应收款 1,639,013. ...

Core Viewpoint - Anada's 2025 semi-annual report reveals significant declines in both revenue and profit, primarily due to intense competition and reduced demand in the titanium dioxide market [1][2]. Group 1: Financial Performance - In the first half of 2025, Anada reported revenue of 876 million yuan, a year-on-year decrease of 10.51% [1][8]. - The company experienced a net loss of 26.27 million yuan, marking a 158.08% decline compared to the previous year [1]. - Revenue from titanium dioxide products was 575 million yuan, accounting for 65.61% of total revenue, with a year-on-year decline of 19.65% [5][8]. Group 2: Market Conditions - The titanium dioxide market is characterized by significant price volatility influenced by economic cycles, supply-demand dynamics, and market expectations [1]. - The demand for titanium dioxide is closely linked to the development of downstream industries such as real estate, packaging materials, plastics, and automotive [3]. - The real estate sector is currently undergoing a deep adjustment, leading to reduced demand for construction coatings [4]. Group 3: Product Performance - Titanium dioxide's gross margin decreased by 8.49 percentage points to 3.05% in the first half of 2025 [5]. - Phosphate iron revenue increased by 4.23% year-on-year, but its gross margin fell to -6.23% [5][9]. - The price of titanium dioxide products has shown a "high-to-low" trend, with significant price drops observed in the second quarter of 2025 [5][6]. Group 4: Industry Competition - The domestic titanium dioxide market is facing intensified competition and tightening demand from downstream markets [5]. - The phosphate iron market has seen a surge in production capacity, leading to increased competition and reduced profitability for companies [9]. - Anada's phosphate iron product gross margin has dropped significantly from 36.83% in 2022 to negative levels in 2025 [9].

（文章来源：每日经济新闻） 安纳达（SZ 002136，收盘价：10.72元）7月30日晚间发布半年度业绩报告称，2025年上半年营业收入 约8.76亿元，同比减少10.51%；归属于上市公司股东的净利润亏损约2627万元；基本每股收益亏损 0.1222元。 ...

Group 1 - The company announced the approval of the full text and summary of the 2025 semi-annual report during the 17th meeting of the 7th Supervisory Board [2]

证券日报网讯 7月30日晚间，安纳达发布公告称，公司第七届董事会第二十次会议审议通过了《2025年 半年度报告全文及摘要》等多项议案。 （文章来源：证券日报） ...