Group 1 - The core point of the news is that Anning Co., Ltd. has experienced fluctuations in its stock price and trading volume, with a recent decline of 2.03% on November 4, 2023, and a total market capitalization of 14.608 billion yuan [1] - As of September 30, 2023, Anning Co., Ltd. reported a total revenue of 1.607 billion yuan for the first nine months of 2023, representing a year-on-year growth of 18.19%, while the net profit attributable to shareholders decreased by 7.28% to 633 million yuan [2] - The company has distributed a total of 2.28 billion yuan in dividends since its A-share listing, with 1.037 billion yuan distributed over the past three years [3] Group 2 - The main business of Anning Co., Ltd. includes the mining, washing, and sales of vanadium-titanium magnetite, with revenue composition being 48.20% from titanium concentrate, 45.05% from vanadium-titanium iron concentrate, 6.54% from comprehensive utilization products, and 0.21% from others [1] - As of September 30, 2023, the number of shareholders increased by 42.10% to 24,600, while the average circulating shares per person decreased by 12.92% to 15,023 shares [2] - The company is classified under the non-ferrous metals industry, specifically in the small metals sector, and is involved in various concept sectors including titanium dioxide, small metals, vanadium batteries, scarce resources, and lithium batteries [1]

证券代码：002978 证券简称：安宁股份 公告编号：2025-078 四川安宁铁钛股份有限公司 1、本次股东会不存在否决议案的情形，本次股东会不涉及变更前次股东会 决议的情形。 2025年第四次临时股东会决议公告 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。 特别提示： 2、本次股东会对中小投资者的表决单独计票。 一、会议召开和出席情况 （一）会议召开情况 1、会议届次：2025 年第四次临时股东会 2、会议召开时间： （1）现场会议时间：2025 年 11 月 3 日 15:00； （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时 间为：2025 年 11 月 3 日上午 9:15—9:25，9:30-11:30，下午 13:00-15:00；通过深 圳证券交易所互联网投票系统投票的具体时间为：2025 年 11 月 3 日 9:15—15:00 任意时间。 3、会议召开地点：四川省攀枝花市米易县安宁路 197 号公司办公楼会议室。 4、会议召开方式：现场表决与网络投票相结合的方式。 5、会议召集人：公司董事会。 6、会议主持人：公司 ...

关于四川安宁铁钛股份有限公司 2025 年第四次临时股东会的 2025 年 11 月 www.zhongyinlawyer.com 成都中银（2025）第 069 - 4 号 北京中银（成都）律师事务所 关于四川安宁铁钛股份有限公司 2025 年第四次临时股东会的 法律意见书 致：四川安宁铁钛股份有限公司 北京中银（成都）律师事务所（以下简称"本所"）接受四川安宁铁钛股份 有限公司（以下简称"公司"）的委托，根据《中华人民共和国证券法》（以下 简称《证券法》）、《中华人民共和国公司法》（以下简称《公司法》）、中国 证券监督管理委员会《上市公司股东会规则》（以下简称《股东会规则》）等有 关法律法规以及《四川安宁铁钛股份有限公司章程》（以下简称《公司章程》） 的有关规定，指派律师黄红娟、方磊出席公司 2025 年第四次临时股东会（以下 简称"本次股东会"）并就本次股东会的相关事项发表意见。 为出具本法律意见书，本所律师审查了本次股东会的相关资料，查阅了本所 律师认为出具本法律意见书所必须查阅的文件，并对有关问题进行了必要的核查 和验证。本所律师仅对本次股东会的召集、召开程序、出席会议人员的资格、召 集人资格、会议 ...

Core Insights - Anning Co., Ltd. has completed the construction of its 50,000 tons per year phosphoric acid iron project and is currently in the equipment debugging phase [2] Company Summary - The company is in the final stages of its phosphoric acid iron project, indicating progress in its production capabilities [2] - The project aims to enhance the company's output capacity significantly, which may impact its market position [2] Industry Context - The phosphoric acid iron sector is likely to see increased competition as companies ramp up production capabilities [2] - The completion of such projects may lead to shifts in supply dynamics within the industry [2]

Group 1 - The company has completed the construction of a 50,000-ton phosphate iron project, which is currently in the equipment debugging phase [2]

Core Insights - Anning Co., Ltd. is a significant player in the domestic vanadium-titanium magnetite mining industry, established in 1994 and listed on the Shenzhen Stock Exchange in 2020, with a strong resource base and advanced mining technology [1] Financial Performance - For Q3 2025, Anning achieved a revenue of 1.607 billion yuan, ranking 9th in the industry, while the industry leader, Guiyan Platinum, reported revenue of 45.179 billion yuan [2] - The net profit for the same period was 633 million yuan, placing Anning 3rd in the industry, with the top performer, Xiyang Co., Ltd., reporting a net profit of 1.845 billion yuan [2] Financial Ratios - As of Q3 2025, Anning's debt-to-asset ratio stood at 48.53%, significantly higher than the industry average of 44.55%, up from 17.80% in the previous year [3] - The gross profit margin was recorded at 62.56%, which is above the industry average of 20.16%, although it decreased from 66.93% year-on-year [3] Management Compensation - The chairman, Luo Yangyong, received a salary of 803,600 yuan in both 2023 and 2024, while the general manager, Zeng Chenghua, saw an increase in salary to 1.5036 million yuan in 2024, up by 250,000 yuan from 2023 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 42.10% to 24,600, while the average number of shares held per shareholder decreased by 12.92% to 15,000 [5] - The top ten circulating shareholders included Hong Kong Central Clearing Limited, which increased its holdings by 769,800 shares [5] Business Highlights - Anning possesses rare resource endowments in titanium ore, which are expected to support its profit margins [5] - The company has completed the acquisition of 100% equity in Panzhihua Jingzhi Mineral, enhancing its competitive position in the titanium ore sector [5] - Revenue for the first three quarters of 2025 was reported at 1.61 billion yuan, reflecting an 18% year-on-year increase, while net profit decreased by 7.3% [5]

Core Viewpoint - Anning Co., Ltd. has no current plans to extract metals such as cobalt, nickel, chromium, and gallium, which are associated with its main products of titanium concentrate and vanadium-titanium iron concentrate [2] Company Summary - The company currently focuses on the production of titanium concentrate and vanadium-titanium iron concentrate [2] - There are no plans for the extraction of by-product metals like cobalt, nickel, chromium, and gallium at this time [2]

Core Viewpoint - Anning Co. expressed confidence in its future development despite a decline in net profit for the first three quarters compared to the same period last year, primarily due to reduced investment income and increased operating costs, taxes, and interest expenses [1] Financial Performance - The net profit for the first three quarters decreased compared to the same period last year [1] - The decline in net profit is attributed to a reduction in investment income and an increase in operating costs, taxes, and interest expenses [1]

Group 1 - The core viewpoint of the news is that Anning Co., Ltd. has shown a positive stock performance with a year-to-date increase of 14.50% and a market capitalization of 15.09 billion yuan as of October 29 [1] - As of September 30, 2025, Anning Co., Ltd. reported a revenue of 1.607 billion yuan, representing a year-on-year growth of 18.19%, while the net profit attributable to shareholders decreased by 7.28% to 633 million yuan [2] - The company has distributed a total of 2.28 billion yuan in dividends since its A-share listing, with 1.037 billion yuan distributed over the past three years [3] Group 2 - Anning Co., Ltd. is primarily engaged in the mining, washing, and sales of vanadium-titanium magnetite, with its main revenue sources being titanium concentrate (48.20%) and vanadium-titanium iron concentrate (45.05%) [1] - The company has seen an increase in the number of shareholders, with the total number reaching 24,600, an increase of 42.10% compared to the previous period [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 769,800 shares to 2.2667 million shares [3]

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。 证券代码：002978 证券简称：安宁股份 公告编号：2025-077 四川安宁铁钛股份有限公司 关于变更独立财务顾问主办人的公告 公司董事会对杨骏威先生在本次重大资产重组期间所做出的贡献表示衷心 感谢！ 特此公告。 四川安宁铁钛股份有限公司董事会 2025 年 10 月 27 日 四川安宁铁钛股份有限公司（以下简称"公司"）参与攀枝花市经质矿产有 限责任公司（以下简称"标的公司"）及其关联企业会理县鸿鑫工贸有限责任公 司、攀枝花市立宇矿业有限公司的实质合并重整，并最终取得经质矿产 100%股 权（以下简称"本次重大资产重组"或"本项目"）。公司已于 2025 年 9 月办 理完毕标的公司股权变更工商登记手续。 公司近日收到本次重大资产重组的独立财务顾问中信建投证券股份有限公 司（以下简称"中信建投证券"）出具的《关于变更四川安宁铁钛股份有限公司 独立财务顾问主办人的函》，具体情况如下： 中信建投证券作为本次重大资产重组的独立财务顾问，原委派崔登辉先生、 杨骏威先生和张伯华先生担任独立财务顾问主办人。现杨骏威先 ...