Core Viewpoint - The company is on track to complete its energy-grade titanium production project by the end of 2025, with an expected output of 60,000 tons per year [2]. Group 1 - The company is currently constructing a full industrial chain project for energy-grade titanium materials [2]. - The project is progressing steadily, with a phased product output anticipated by the end of 2025 [2].

Group 1 - The core viewpoint of the article is that Anning Co., Ltd. is making steady progress on its annual production project of 60,000 tons of energy-grade titanium (alloy) materials, with expected phased product output by the end of 2025 [1] Group 2 - The company is currently engaged in the construction of a full industrial chain project for titanium materials [1] - The anticipated timeline for the initial product output is set for the end of 2025 [1]

Group 1 - The company held an online investor meeting on September 12, 2023, to discuss its semi-annual report and engage with investors [1] - The company plans to resume production at Jingzhi Mining by June 2027, with an expected production capacity of 5 million tons per year, including 2.6 million tons of industrial-grade ore and 2.4 million tons of low-grade ore [1] - The company aims to enhance its resource reserves through horizontal mergers and acquisitions, as part of its development strategy [1] Group 2 - The 60,000-ton energy-grade titanium (alloy) material project is progressing steadily, with expected product output by the end of 2025 [2] - The company's gross margin has declined due to market price fluctuations and lower margins on comprehensive utilization products derived from tailings [2] - The company plans to launch comprehensive utilization products in September 2024, with an expected output of 45,000 tons from September to December 2024 [2]

Group 1: Production Plans and Capacities - The company expects to resume full production at Jingzhi Mining by June 2027, with an anticipated production scale of 5 million tons per year, closely matching the product grade of existing products [2][3] - The low-grade ore from Jingzhi Mining is projected to yield an annual recovery of 12.8 million tons starting March 2026, contributing to the production of titanium concentrate and vanadium-titanium iron concentrate [3][4] - After the resumption of Jingzhi Mining, the company anticipates an additional annual production capacity of approximately 900,000 tons of iron concentrate, 400,000 tons of titanium concentrate, and 70,000 tons of comprehensive utilization products [4] Group 2: Financial Performance and Profitability - The company does not expect Jingzhi Mining to contribute profits until after the full resumption of operations in June 2027 [3][4] - The company's gross profit margin has declined due to market price fluctuations and lower margins on comprehensive utilization products derived from tailings [3][4] - Future dividend arrangements will be based on investment, profitability, and financial conditions, with no dividends expected until after the output from Jingzhi Mining [4] Group 3: Strategic Development and Projects - The acquisition of Jingzhi Mining aligns with the company's strategy of horizontal resource mergers to enhance resource reserves [3][4] - The 60,000-ton energy-grade titanium (alloy) materials project is progressing steadily, with expected phased product output by the end of 2025 [4] - The company focuses on core business areas, including vanadium-titanium iron concentrate, titanium concentrate, and titanium materials, while remaining open to other investment opportunities [4]

证券代码：002978 证券简称：安宁股份 公告编号：2025-068 四川安宁铁钛股份有限公司 关于重大资产购买之标的资产过户完成的公告 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"上市公司"或"公司"）拟以分期支付 现金650,768.80万元的方式，参与攀枝花市经质矿产有限责任公司（以下简称"经 质矿产"或"标的公司"）及其关联企业会理县鸿鑫工贸有限责任公司（以下简称 "鸿鑫工贸"）、攀枝花市立宇矿业有限公司（以下简称"立宇矿业"）实质合并重 整。本次交易完成后，上市公司取得经质矿产100%股权，并通过经质矿产持有 鸿鑫工贸、立宇矿业100%股权。 上市公司于2025年7月21日召开第六届董事会第二十四次会议及第六届监事 会第十六次会议，于2025年9月4日召开2025年第三次临时股东会，审议通过了与 本次交易相关的议案。截至本公告披露日，本次交易所涉及标的资产的过户手续 已经全部办理完毕，现将有关情况公告如下： 一、本次交易的实施情况 （一）标的资产的过户情况 截至本公告披露日，标的公司已就本次交易完成了工商变 ...

证券代码：002978 证券简称：安宁股份 上市地点：深圳证券交易所 四川安宁铁钛股份有限公司 本次交易完成后，公司经营与收益的变化由公司负责；因本次交易引致的投 资风险，由投资者自行负责。 投资者若对本报告书存在任何疑问，应咨询自己的股票经纪人、律师、专业 会计师、或其他专业顾问。 1 | | | 重大资产购买实施情况报告书 独立财务顾问 二〇二五年九月 上市公司声明 本公司及全体董事、监事、高级管理人员保证本报告书的内容真实、准确和 完整，并对本报告书的虚假记载、误导性陈述或者重大遗漏承担相应的法律责任。 本次交易其他相关各方已承诺所提供的文件和材料真实、准确和完整，不存在虚 假记载、误导性陈述或者重大遗漏。 本次交易有关监管部门对本次交易事项所作的任何决定或意见，均不代表其 对本公司股票的价值或投资者收益的实质性判断或保证。任何与之相反的声明均 属虚假不实陈述。 释 义 本报告书中，除非文义另有所指，下列简称和术语具有如下含义： | 上市公司、公司、安宁股份 | 指 | 四川安宁铁钛股份有限公司（股票代码：002978.SZ） | | --- | --- | --- | | 紫东投资 | 指 | 成都紫 ...

Group 1 - The company Anning Co., Ltd. (002978) announced a plan to participate in the substantial merger and restructuring of Jingzhi Mineral and its affiliated enterprises Hongxin Trade and Liyu Mining by making a cash payment of 6.508 billion yuan in installments [1] - Upon completion of the transaction, Jingzhi Mineral will become a wholly-owned subsidiary of the listed company, which will hold 100% equity of Hongxin Trade and Liyu Mining through Jingzhi Mineral [1] - This transaction constitutes a major asset restructuring for the listed company [1]

中信建投证券股份有限公司 关于 四川安宁铁钛股份有限公司 重大资产购买实施情况 之 独立财务顾问核查意见 独立财务顾问 二〇二五年九月 独立财务顾问声明 中信建投证券股份有限公司接受四川安宁铁钛股份有限公司的委托，担任本次四川 安宁铁钛股份有限公司重大资产购买之独立财务顾问。根据《公司法》《证券法》《上 市公司重大资产重组管理办法》《公开发行证券的公司信息披露内容与格式准则第 26 号——上市公司重大资产重组》《深圳证券交易所股票上市规则》等有关法律、法规的 要求，按照证券行业公认的业务标准、道德规范，本着诚实信用、勤勉尽责的态度，本 独立财务顾问经过审慎调查，出具本次重组实施情况的核查意见。 1、本核查意见所依据的文件、材料由交易各方提供，本次交易相关各方已承诺所 提供的文件和材料真实、准确和完整，不存在虚假记载、误导性陈述或者重大遗漏。本 独立财务顾问不承担由此引起的任何风险责任。 2、本独立财务顾问已按照规定履行尽职调查义务，有充分理由确信所发表的专业 意见与上市公司披露的文件内容不存在实质性差异。 3、本核查意见不构成对上市公司的任何投资建议，投资者根据本核查意见所做出 的任何投资决策而产生的相应风险 ...

北京国枫律师事务所 北京国枫律师事务所 Grandway Law Offices 北京市东城区建国门内大街 26 号新闻大厦 7 层 邮编：100005 电话（Tel）：010-88004488/66090088 传真（Fax）：010-66090016 北京国枫律师事务所 关于四川安宁铁钛股份有限公司 支付现金购买资产之 关于四川安宁铁钛股份有限公司 支付现金购买资产之 标的资产过户情况的法律意见书 国枫律证字[2025]AN122-4 号 标的资产过户情况的法律意见书 国枫律证字[2025]AN122-4 号 致：四川安宁铁钛股份有限公司（安宁股份） 根据本所与申请人签署的《律师服务协议》，本所接受安宁股份的委托，担 任安宁股份本次重大资产重组的特聘专项法律顾问，并据此出具本法律意见书。 本所律师已根据《公司法》《证券法》《重组管理办法》《监管指引第 9 号》 《第 26 号准则》《证券法律业务管理办法》《证券法律业务执业规则》等相关法 律、法规、规章和规范性文件的规定并按照律师行业公认的业务标准、道德规范 和勤勉尽责精神，对本次交易有关事实进行了查验，并据此出具了《北京国枫律 师事务所关于四川安宁铁钛股 ...

Group 1 - The core point of the article is that Anning Co., Ltd. announced the pledge of shares by its controlling shareholder, Chengdu Zidong Investment Co., Ltd. [2] - The number of shares pledged is 41,110,000 shares [2]