Core Viewpoint - Guangdong Huiyun Titanium Industry Co., Ltd. has disclosed two invention patents granted by the National Intellectual Property Administration, focusing on enhancing the performance of titanium dioxide used in printing inks, which is expected to boost the company's technological innovation and core competitiveness in the long run [2] Group 1: Patent Innovations - The newly granted patent relates to a titanium dioxide suitable for printing inks, aimed at improving its performance in this application [2] - Earlier in June, the company announced two other patents related to modified titanium dioxide technology, indicating a period of high innovation output [2] Group 2: Technological Development - The company views independent intellectual property as a crucial part of its core competitiveness, leveraging provincial technology centers and research platforms to enhance its technological reserves and R&D capabilities [2] - Through technological innovation and a series of independent intellectual properties, the company continuously optimizes production processes and improves product performance, maintaining strong competitiveness in a fierce market [2] Group 3: Green Production Initiatives - In addition to product and process innovations, the company has invested significant resources in green production technologies, achieving important results in various low-carbon technologies that enhance energy efficiency and environmental safety [3] - The company has developed continuous acid leaching technology, MVR titanium liquid concentration technology, low-temperature waste heat recovery technology, and continuous crystallization technology, showcasing its core advantages in safe and green production [3]

Core Insights - The company reported a revenue of 835 million yuan for the first half of 2025, representing a year-on-year growth of 5.18% [1] - The net profit attributable to shareholders was 5.0984 million yuan, showing a significant decline of 73.17% compared to the previous year [1] - The decrease in net profit is primarily attributed to fluctuations in raw material prices leading to increased costs [1] Revenue and Profitability - The company achieved revenue growth despite market demand fluctuations by actively expanding market channels and increasing product market coverage [1] - The net profit margin was recorded at 0.61%, which is a decrease of 1.78 percentage points from the same period last year [1] - Operating cash flow turned positive at 113 million yuan, improving from a negative position year-on-year, providing a safeguard for market risk management and sustainable development [1] Cost Management - The company implemented measures to alleviate cost pressures, including strengthening supply chain management and reducing raw material procurement costs [1]

Group 1 - The company, Huiyun Titanium Industry, announced the acquisition of two invention patent certificates issued by the National Intellectual Property Administration [1]

| 证券代码：300891 | 证券简称：惠云钛业 | 公告编号：2025-064 | | --- | --- | --- | | 债券代码：123168 | 债券简称：惠云转债 | | 广东惠云钛业股份有限公司 关于取得发明专利证书的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 广东惠云钛业股份有限公司（以下简称"公司"）于近日取得国家知识产权局 颁发的发明专利证书2项，具体情况如下： | 专利 | 专利 | 发明名称 | 专利号 | 专利申请日 | 专利授权 | 证书号 | | --- | --- | --- | --- | --- | --- | --- | | 类型 | 权人 | | | | 公告日 | | | | 广东 惠云 | 一种从磷酸铁 锂废料中回收 磷酸铁的方法 及其应用 | ZL202411486722.2 | 2024年10月 23日 | 2025年08 月29日 | 第8209131号 | | 发明 | 钛业 | | | | | | | 专利 | 股份 有限 | 一种印刷油墨 | | | | | | | | 用钛白粉及其 | | ...

Core Viewpoint - Guangdong Huiyun Titanium Industry Co., Ltd. reported a revenue of 835 million yuan in the first half of 2025, reflecting a year-on-year growth of 5.18%, but the net profit attributable to shareholders decreased to 5.0984 million yuan due to weak market demand for titanium dioxide and a decline in sales prices [1][2]. Financial Performance - The company achieved a revenue of 835 million yuan in H1 2025, up 5.18% year-on-year [1]. - The net profit attributable to shareholders was 5.0984 million yuan, showing a decline compared to the previous year [1]. - The average selling price of titanium dioxide products decreased by 11.41% year-on-year, impacting profitability [1]. Market Conditions - The titanium dioxide market is experiencing weak demand, affecting the profits of several listed companies in the sector, including Longmang Baili, Pangang Vanadium Titanium, and Luboh Chemical [1]. - The company is implementing measures to address market challenges, including accelerating the production of technical transformation projects [1]. Strategic Initiatives - Huiyun Titanium is focusing on a "boutique strategy" and "personalized custom production" to enhance product quality and customer satisfaction, leading to an increase in titanium dioxide production and sales [2]. - The company is investing in new applications for titanium dioxide, targeting emerging fields such as consumer electronics, new energy batteries, and environmental protection, which are expected to open new growth opportunities [2]. - The newly launched 200,000 tons/year titanium acid concentration project is expected to reduce costs and improve economic benefits [2]. Expansion and Development - The company is actively expanding its upstream and downstream supply chain, including establishing a marketing company in Singapore to enhance international market presence [3]. - Huiyun Titanium acquired controlling shares in Chenxiang Mining to develop and operate mining resources, which is anticipated to positively impact future operational performance [3].

Core Viewpoint - Huiyun Titanium's 2025 mid-year report indicates a mixed performance with a slight increase in revenue but significant declines in net profit and non-recurring profit, highlighting potential challenges in profitability and operational efficiency [1][4]. Financial Performance - The company's main revenue for the first half of 2025 reached 835 million yuan, a year-on-year increase of 5.18% [1]. - The net profit attributable to shareholders was 5.0984 million yuan, representing a year-on-year decrease of 73.17% [1][4]. - The non-recurring net profit was 2.6077 million yuan, down 86.27% year-on-year [1][4]. - In Q2 2025, the company reported a single-quarter revenue of 353 million yuan, a decline of 9.43% year-on-year [1]. - The net profit for Q2 2025 was -5.158 million yuan, a significant drop of 164.81% year-on-year [1][4]. - The non-recurring net profit for Q2 2025 was -7.5338 million yuan, down 190.11% year-on-year [1][4]. Financial Ratios - The company's debt ratio stood at 54.08% [1]. - Investment income was -1.154 million yuan, and financial expenses amounted to 13.7279 million yuan [1]. - The gross profit margin was 9.2%, reflecting a year-on-year decrease of 2.95% [6]. - Return on equity was 0.38%, down 72.26% year-on-year [6]. - Earnings per share were 0.01 yuan, a decrease of 73.10% year-on-year [6]. - The operating cash flow per share was 0.03 yuan, showing a significant increase of 109.66% year-on-year [6]. Shareholder Information - The largest shareholder, American Wanbang Co., Ltd., holds 69.89 million shares, accounting for 21.03% of the total [10]. - Other significant shareholders include Chaoyang Investment Co., Ltd. with 52.70 million shares (15.85%) and Zhong Zhengguang with 22.53 million shares (6.78%) [10].

| 证券代码：300891 | 公司简称：惠云钛业 | 公告编号：2025-063 | | --- | --- | --- | | 债券代码：123168 | 债券简称：惠云转债 | | 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。 广东惠云钛业股份有限公司（以下简称"公司"）根据《企业会计准则》《深 圳证券交易所上市公司自律监管指引第2号——创业板上市公司规范运作》等有 关规定，对截至2025年6月30日合并财务报表范围内相关资产计提资产减值准备。 现将报告期内计提资产减值准备的具体情况公告如下： 一、本次计提资产减值准备情况概述 为真实、准确、客观地反映公司的财务状况、资产价值及经营成果，根据《企 业会计准则》等相关会计政策规定，基于谨慎性原则，对公司合并报表范围内截 至2025年6月30日各类资产进行了全面清查，对各项资产减值的可能性进行了充 分的评估和分析，对存在减值迹象的资产计提减值准备。 二、本次计提资产减值准备的资产范围和总金额 经公司对2025年半年度末存在可能发生减值迹象的资产，范围包括存货、固 定资产、应收款项等，进行全面清查和资产减值 ...

| 证券代码：300891 | 公司简称：惠云钛业 | 公告编号：2025-059 | | --- | --- | --- | | 债券代码：123168 | 债券简称：惠云转债 | | 广东惠云钛业股份有限公司 2025年半年度报告披露的提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 2025年8月26日，广东惠云钛业股份有限公司（以下简称"公司"）召开第五 届董事会第十三次会议和第五届监事会第十一次会议，审议通过了《关于公司 <2025年半年度报告>及其摘要的议案》。 为使投资者全面了解本公司的经营成果、财务状况及未来发展规划，公司 《2025年半年度报告》及《2025年半年度报告摘要》于2025年8月28日在中国证 监会指定的创业板信息披露网站巨潮资讯网(www.cninfo.com.cn)上披露。敬请 投资者注意查阅。 特此公告。 广东惠云钛业股份有限公司董事会 2025年8月28日 1 ...

单位：万元 非经营性资金占用 资金占用 方名称 占用方与上 市公司的关 联关系 上市公司核算 的会计科目 2025 年期初 占用资金余 额 2025 年半年度 占用累计发生 金额（不含利 息） 2025 年半年 度占用资金的 利息（如有） 2025 年半年 度偿还累计 发生金额 2025 年半年 度期末占用 资金余额 占用形 成原因 占用性质 控股股东、实际控制 人及其附属企业 非经营性占用 非经营性占用 小计 前控股股东、实际控 制人及其附属企业 非经营性占用 非经营性占用 小计 其他关联方及附属企 业 非经营性占用 小计 总计 其它关联资金往来 资金往来 方名称 往来方与上 市公司的关 联关系 上市公司核算 的会计科目 2025 年期初 往来资金余 额 2025 年半年度 往来累计发生 金额（不含利 息） 2025 年半年 度往来资金的 利息 （如有） 2025 年半年 度偿还累计 发生金额 2025 年半年 度期末往来 资金余额 往来形 成原因 往来性质 （经营性往来、 非经营性往来） 控股股东、实际控制 人及其附属企业 | 上市公司的子公司及 | 云浮惠云 | | | | | | | 资金往 | 非经 ...

| 证券代码：300891 | 公司简称：惠云钛业 | 公告编号：2025-062 | | --- | --- | --- | | 债券代码：123168 | 债券简称：惠云转债 | | 广东惠云钛业股份有限公司 2025 年半年度募集资金存放与使用情况的专项报告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、2022 年发行可转换公司债券募集资金的基本情况 经中国证券监督管理委员会《关于同意广东惠云钛业股份有限公司向不特定 对象发行可转换公司债券注册的批复》（证监许可〔2022〕1829 号）核准，广 东惠云钛业股份有限公司（以下简称"公司"）于 2022 年 11 月 23 日公开发行 490.00 万张可转换公司债券，期限 6 年，每张面值 100.00 元，募集资金总额为 490,000,000.00 元，扣除发行费用人民币 11,588,780.39 元，募集资金净额 478,411,219.61 元。 截至 2022 年 11 月 29 日，公司上述发行募集的资金已全部到位，业经大华 会计师事务所（特殊普通合伙）以"大华验字[2022]000 ...