现将公司及子公司使用闲置募集资金及闲置自有资金进行现金管理的实施 进展情况公告如下： 证券代码：002978 证券简称：安宁股份 公告编号：2026-012 四川安宁铁钛股份有限公司 关于使用闲置募集资金及闲置自有资金 进行现金管理的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或者重大遗漏。 四川安宁铁钛股份有限公司（以下简称"公司"或"本公司"）于2026年3月13 日召开第六届董事会第三十三次会议，审议通过了《关于使用闲置募集资金及闲 置自有资金进行现金管理的议案》，公司及子公司拟使用不超过人民币55,000万 元（含本数）闲置募集资金、不超过130,000万元（含本数）闲置自有资金进行 现金管理，使用期限自董事会审议通过之日起不超过12个月。在前述额度和期限 范围内，可循环滚动使用，董事会授权公司管理层在额度范围内行使相关决策权、 签署相关合同文件。保荐机构对公司本次现金管理发表了明确同意的意见。 一、本次使用闲置募集资金及闲置自有资金购买理财产品情况 根据董事会授权，公司及子公司攀枝花安宁钛材科技有限公司（以下简称"安 宁钛材"）于近日使用闲置募集资金 ...

中信证券股份有限公司 关于四川安宁铁钛股份有限公司 使用闲置募集资金及闲置自有资金进行现金管理的 专项核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为四川安 宁铁钛股份有限公司（以下简称"安宁股份"或"公司"）2022 年度向特定对 象发行 A 股股票的保荐人，根据《证券发行上市保荐业务管理办法》《上市公 司募集资金监管规则》《深圳证券交易所股票上市规则》《深圳证券交易所上市 公司自律监管指引第 1 号——主板上市公司规范运作》及《深圳证券交易所上市 公司自律监管指引第 13 号——保荐业务》等法律法规的要求，对安宁股份使用 闲置募集资金及闲置自有资金进行现金管理事项进行了核查，现将核查情况说明 如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意四川安宁铁钛股份有限公司向特定对 象发行股票注册的批复》（证监许可〔2024〕1375 号）批准，并经深圳证券交 易所同意，公司向特定对象发行人民币普通股股票 70,989,958 股，每股面值人民 币 1.00 元 ， 每 股 发 行 价 格 为 人 民 币 24.00 元 ， 募 集 资 金 总 额 为 人 民 币 1,703, ...

证券代码：002978 证券简称：安宁股份 公告编号：2026-010 关于使用闲置募集资金及闲置自有资金 进行现金管理的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或者重大遗漏。 四川安宁铁钛股份有限公司（以下简称"公司"或"本公司"）于2026年3月13 日召开第六届董事会第三十三次会议，审议通过了《关于使用闲置募集资金及闲 置自有资金进行现金管理的议案》，公司及子公司拟使用不超过人民币55,000万 元（含本数）闲置募集资金、不超过130,000万元（含本数）闲置自有资金进行 现金管理，使用期限自董事会审议通过之日起不超过12个月。在前述额度和期限 范围内，可循环滚动使用，董事会授权公司管理层在额度范围内行使相关决策权、 签署相关合同文件。 四川安宁铁钛股份有限公司 本次使用部分闲置募集资金及闲置自有资金进行现金管理不构成关联交易， 不构成《上市公司重大资产重组管理办法》规定的重大资产重组，不存在改变募 集资金用途的情形，不影响募集资金投资项目的实施。根据《深圳证券交易所股 票上市规则》和《深圳证券交易所上市公司自律监管指引第 1 号——主板上市 公司规范运 ...

证券代码：002978 证券简称：安宁股份 公告编号：2026-011 四川安宁铁钛股份有限公司 第六届董事会第三十三次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或者重大遗漏。 2、董事会召开时间：2026 年 3 月 13 日。 3、董事会召开地点、方式：公司会议室以现场与通讯相结合的方式召开。 6、四川安宁铁钛股份有限公司（以下简称"公司"）第六届董事会第三十三 次会议的召集和召开符合国家有关法律、法规及《公司章程》的规定，决议合法 有效。 一、董事会会议召开情况 1、董事会通知时间、方式：2026 年 3 月 8 日以微信、电话、当面送达等方 式通知全体董事。 5、董事会主持人：董事长罗阳勇先生。 二、董事会会议审议情况 （一）审议通过《关于使用闲置募集资金及闲置自有资金进行现金管理的 议案》 表决结果：7 票同意，0 票反对，0 票弃权，表决结果为通过。 在不影响募投项目建设和正常生产经营的情况下，同意公司及子公司使用不 超过人民币 55,000 万元（含本数）闲置募集资金、不超过 130,000 万元（含本数） 闲置自有资金进行现金管理。上述额 ...

Investment Rating - The report maintains an "Overweight" rating for the steel industry [4]. Core Insights - Demand is expected to gradually stabilize, and supply-side adjustments are anticipated to continue, leading to a potential recovery in the steel industry's fundamentals [2]. - The report highlights that approximately 60% of steel companies are currently operating at a loss, indicating a market-driven supply clearance is beginning to occur [4]. - The report emphasizes the importance of balancing supply and demand, optimizing product structure, and the necessity for structural reforms in the steel industry during the "14th Five-Year Plan" period [4]. Summary by Sections Demand and Supply - Demand is projected to stabilize, with a decrease in the real estate sector's contribution to steel demand becoming less impactful. Growth in steel demand from infrastructure and manufacturing is expected to be steady [4]. - The total social inventory of major steel products reached 14.23 million tons, an increase of 200,000 tons week-on-week. Steel mill inventories also rose to 5.52 million tons, up by 30,000 tons [9][29]. Profitability - The report notes a rebound in production profits for rebar and hot-rolled steel, with average gross margins for hot-rolled steel increasing by 2 CNY/ton to 46 CNY/ton, and for rebar, the average gross margin rose by 34 CNY/ton to 182 CNY/ton [33][39]. Price Trends - Steel prices have shown a week-on-week increase, with Shanghai rebar prices rising by 60 CNY/ton to 3,260 CNY/ton, and hot-rolled coil prices increasing by 60 CNY/ton to 3,310 CNY/ton [7][39]. - International steel prices have decreased, with U.S. rebar prices dropping by 19 USD/ton to 1,026 USD/ton, and European prices falling by 58 USD/ton to 715 USD/ton [36]. Raw Material Prices - Iron ore spot prices have rebounded, with the price at Rizhao Port increasing by 20 CNY/ton to 799 CNY/ton, while futures prices rose by 21.5 CNY/ton to 772 CNY/ton [39][46]. - The report indicates an increase in iron ore port inventories, which rose by 700,000 tons to 17.182 million tons [46]. Recommendations - The report recommends focusing on leading companies with technological and product structure advantages, such as Baosteel, Hualing Steel, and Shougang, as well as low-cost and flexible steel companies like Fangda Special Steel and New Steel [4].

证券代码：002978 证券简称：安宁股份 公告编号：2026-009 四川安宁铁钛股份有限公司 关于 2025 年限制性股票激励计划授予登记完成的公告 1、授予登记完成日（上市日期）：2026 年 3 月 9 日 2、限制性股票登记数量：71.04 万股 3、限制性股票授予价格：20.60 元/股 4、限制性股票授予登记人数：32 人 5、股票来源：公司从二级市场回购的公司 A 股普通股股票 6、本次授予的限制性股票授予后股份性质为有限售条件股份。 根据中国证监会《上市公司股权激励管理办法》、深圳证券交易所《深圳证 券交易所上市公司自律监管指南第 1 号——业务办理（2025 年修订）》、中国证 券登记结算有限责任公司深圳分公司有关规则的规定，四川安宁铁钛股份有限公 司（以下简称"公司"或"安宁股份"）完成了 2025 年限制性股票激励计划的授 予登记工作。现将有关事项公告如下： 一、限制性股票激励计划已履行的相关审批程序 1、2025 年 12 月 22 日，安宁股份召开第六届董事会薪酬与考核委员会第一 次会议，会议审议通过《关于公司〈2025 年限制性股票激励计划（草案）〉及其 摘要的议案》和《关于公司 ...

Core Viewpoint - The A-share market continues to show a strong upward trend, driven by resource stocks, while the media sector remains weak due to profit-taking and insufficient earnings expectations [3][12]. Market Performance - On February 25, the A-share market saw 3,748 stocks rise, with the Shanghai Composite Index up 0.72% to 4,147.23 points, and the ChiNext Index up 1.41% to 3,354.82 points [4][5]. - The total trading volume increased by 262.8 billion yuan, reaching 2.48 trillion yuan, with margin trading balances in the three major markets rising to 2.62 trillion yuan [4][5]. Sector Analysis - Resource stocks, particularly in non-ferrous metals and steel, are leading the market due to favorable policies, improved supply-demand dynamics, and rising product prices [3][12]. - The media sector is experiencing a downturn, attributed to continuous adjustments in the film and theater sector, weakening AI application concepts, and profit-taking after significant prior gains [3][12]. Investment Recommendations - The market is expected to maintain a structurally rotating trend in the short term, with a focus on technology and resource stocks as key investment directions [3][12][15]. - Analysts suggest that the core investment themes should revolve around resource stocks (steel, non-ferrous metals, chemicals) and hard technology (semiconductors, commercial aerospace) [15].

Group 1 - The core point of the article is that Anning Co., Ltd. (SZ002978) reached its daily limit with a price of 41.23 yuan, reflecting a 10.01% increase and a total market capitalization of 19.46 billion yuan [1] - The company launched a restricted stock incentive plan for 32-33 core employees, setting performance growth targets of 12%-35%, which aims to stabilize the team and enhance operational efficiency [2] - Anning Co., Ltd. secured a 3 billion yuan syndicated loan to support acquisition projects, enhancing its resource control capabilities and providing strong financial backing for business expansion [2] Group 2 - The vanadium-titanium industry has recently shown strong performance due to market demand and policy factors, benefiting Anning Co., Ltd. as a mining and sales enterprise of vanadium-titanium magnetite [2] - Significant capital inflow was observed on February 25, with major funds showing high interest in Anning Co., Ltd., indicating strong market attention [2] - The technical indicators for the stock, particularly the MACD, have formed a golden cross, suggesting a clear upward trend in the short term, attracting more investor interest [2]

Group 1 - The core viewpoint of the news is the strong performance of the non-ferrous metal industry, particularly the non-ferrous metal ETF fund, which has seen significant increases in both stock prices and net inflows [1][2]. - As of February 25, 2026, the CSI Non-Ferrous Metal Industry Theme Index (000811) rose by 3.39%, with notable increases in individual stocks such as Yunnan Tin Industry (10.01%) and Chihong Zn & Ge (8.49%) [1]. - The non-ferrous metal ETF fund (516650) has experienced a year-to-date increase of 20.76% as of February 24, 2026, with a recent net inflow of 206 million yuan [1]. Group 2 - The top ten weighted stocks in the CSI Non-Ferrous Metal Industry Theme Index account for 51.85% of the index, with major companies including Zijin Mining and China Aluminum [2]. - The highest monthly return for the non-ferrous metal ETF fund since its inception was 27.00%, and it has achieved a maximum consecutive monthly gain of 69.57% [1]. - The fund has outperformed its benchmark with an annualized excess return of 2.00% since inception, indicating strong performance relative to market standards [1].

Core Viewpoint - Titanium ingots are essential materials with high strength, corrosion resistance, and biocompatibility, widely used in various industries such as aerospace, military, and medical, reflecting a country's economic and defense capabilities [1][3] Industry Definition and Production Methods - Titanium ingots are metal blocks formed from sponge titanium through melting, with production methods including vacuum self-consumption melting and vacuum non-self-consumption melting [2][3] - The main production process involves mining, chlorination, reduction refining, and purification, typically requiring 2-3 melting cycles [2] Industry Development Status - China's titanium ingot production is projected to reach 190,000 tons in 2024 and 235,000 tons in 2025, with demand expected to be 181,900 tons and 226,900 tons respectively [4] - China accounts for over 60% of global titanium ingot production, but still relies on imports for high-end applications due to limited core technologies [4] Industry Chain - The upstream of the titanium ingot industry involves sponge titanium production from titanium iron ore, while the midstream focuses on titanium ingot processing, and the downstream applications span aerospace, electronics, and medical fields [5] Development Environment and Policies - The titanium industry is a key focus of national development, with policies promoting green transformation and supporting high-end titanium production [5] Competitive Landscape - Major companies in the domestic titanium ingot industry include Baoji Titanium Industry Co., Anning Iron Titanium Co., and Western Superconducting Technologies Co., with significant market shares and production capabilities [8] - Anning Iron Titanium is a leader in titanium concentrate mining, while Western Superconducting specializes in high-end titanium alloy materials [8] Industry Development Trends - The focus of the titanium ingot industry is shifting from capacity expansion to product structure optimization, with increasing demand for high-purity and high-performance titanium ingots in aerospace and medical applications [9][10] - Companies are expected to invest more in R&D for high-end alloys, enhancing competitiveness through innovation and cost control [10]