Core Viewpoint - The titanium dioxide sector is experiencing a significant upward trend, with companies such as Anada reaching their daily limit increase, while Jinpu Titanium Industry, Guocheng Mining, Longbai Group, Huiyun Titanium Industry, Anning Co., and Tianyuan Co. also see gains [1] Company Performance - Anada has hit the daily limit increase, indicating strong market interest and investor confidence [1] - Jinpu Titanium Industry, Guocheng Mining, Longbai Group, Huiyun Titanium Industry, Anning Co., and Tianyuan Co. are all following suit with notable increases in their stock prices [1]

Core Points - The company Huayun Titanium Industry announced changes to its registered capital and share structure due to the conversion of convertible bonds [2] - The total number of shares will increase from 400,002,662 to 400,007,920, and the registered capital will rise from 400,002,662 yuan to 400,007,920 yuan [2] - The company has completed the necessary registration changes and received updated business licenses from the local market supervision authority [2] Summary by Sections - **Capital Changes** - The company will increase its registered capital and total shares due to the issuance of convertible bonds [2] - The new total number of shares will be 400,007,920, reflecting a minor increase [2] - **Board and Management Adjustments** - The company held meetings to approve the election of independent directors and the appointment of a new financial director [2] - The company has decided to abolish the supervisory board and amended its articles of association accordingly [2] - **Regulatory Compliance** - The company has completed all necessary registration and documentation changes with the local market supervision authority [2] - Updated business licenses and registration notifications have been obtained [2]

Summary of Key Points Core Viewpoint - The A-share market experienced significant block trading activity on November 6, with a total transaction volume of 2.431 billion yuan, highlighting notable trading in companies such as Zhongwei Company, CATL, and Bull Group [1]. Group 1: Trading Activity - A total of 65 stocks underwent block trading, with transaction amounts reaching 2.431 billion yuan [1]. - The top three companies by transaction volume were Zhongwei Company (321 million yuan), CATL (288 million yuan), and Bull Group (254 million yuan) [1]. - Among the stocks, 7 were traded at par value, 3 at a premium, and 55 at a discount [1]. Group 2: Premium and Discount Rates - The stocks with the highest premium rates were Yuchen Intelligent (18.21%), Beijing Bank (10.37%), and AVIC Chengfei (8.69%) [1]. - The stocks with the highest discount rates included Longzhu Technology (26.25%), Electric Alloy (24.03%), and Youfang Technology (21.97%) [1]. Group 3: Institutional Trading - The top institutional buy amounts were led by Zhongwei Company (299 million yuan), CATL (288 million yuan), and Zhongji Xuchuang (183 million yuan) [2]. - The leading institutional sell amounts were dominated by CATL (288 million yuan), Zijin Mining (217 million yuan), and Zhongji Xuchuang (183 million yuan) [2].

| 证券代码：300891 | 证券简称：惠云钛业 | 公告编号：2025-090 | | --- | --- | --- | | 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 关于完成工商变更登记并换发营业执照的公告 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 2025 年 4 月 23 日召开的 第五届董事会第十次会议、2025 年 5 月 20 日召开的 2024 年度股东大会，审议 通过《关于增加注册资本并修订<公司章程>的议案》，因发行可转债转股，同意 公 司 股 份 总 数 由 400,002,662 股 变 更 为 400,007,920 股 ， 公 司 注 册 资 本 由 400,002,662 元变更为 400,007,920 元。公司于 2025 年 9 月 17 日召开的第五届董 事会第十四次会议、2025 年 10 月 10 日召开的 2025 年第一次临时股东会，审议 通过《关于补选公司独立董事及专门委员会委员的议案》《关于聘任公司财务总 监的议案 ...

Core Insights - On November 5, Huayun Titanium conducted a block trade of 250,000 shares, with a transaction value of 2.025 million yuan, accounting for 2.03% of the total trading volume for the day [1][2] - The transaction price was 8.1 yuan per share, representing a discount of 13.74% compared to the market closing price of 9.39 yuan [1] Summary by Category Transaction Details - Transaction Date: November 5, 2025 [2] - Security Code: 300891 [2] - Security Name: Huayun Titanium [2] - Transaction Price: 8.10 yuan [2] - Transaction Volume: 250,000 shares [2] - Transaction Amount: 2.025 million yuan [2] - Buyer Brokerage: CITIC Securities Co., Ltd. Beijing Wangjing [2] - Seller Brokerage: Dongguan Securities Co., Ltd. Shenzhen Houhai Industrial [2]

Group 1 - The titanium dioxide concept sector increased by 3.15%, ranking fourth among concept sectors, with 14 stocks rising, including Vanadium Titanium Co., which hit the daily limit, and Guocheng Mining, Zhenhua Co., and Huiyun Titanium Industry showing significant gains of 9.42%, 7.23%, and 2.62% respectively [1] - The main capital inflow into the titanium dioxide concept sector was 256 million yuan, with six stocks receiving net inflows, led by Vanadium Titanium Co. with a net inflow of 323 million yuan, followed by Guocheng Mining, Huiyun Titanium Industry, and Anning Co. with net inflows of 48.55 million yuan, 11.25 million yuan, and 10.12 million yuan respectively [2][3] Group 2 - In terms of capital inflow ratios, Vanadium Titanium Co., Huiyun Titanium Industry, and Guocheng Mining had the highest net inflow rates at 45.42%, 11.52%, and 7.12% respectively [3] - The trading performance of key stocks in the titanium dioxide sector included Vanadium Titanium Co. with a daily increase of 10.17% and a turnover rate of 2.42%, Guocheng Mining with a 9.42% increase and a turnover rate of 3.48%, and Huiyun Titanium Industry with a 2.62% increase and a turnover rate of 3.15% [3]

Group 1 - The core point of the news is that Huiyun Titanium Industry conducted a block trade on November 4, with a transaction volume of 250,000 shares and a transaction amount of 2.0125 million yuan, accounting for 4.01% of the total transaction amount for the day [1][2] - The transaction price was 8.05 yuan, which represents a discount of 12.02% compared to the market closing price of 9.15 yuan [1][2] Group 2 - The block trade was executed by an institutional investor, with Dongguan Securities Co., Ltd. being the selling broker and Shenzhen Houhai Industrial Avenue Securities Business Department as the buying broker [2]

Core Viewpoint - Huiyun Titanium Industry is a significant player in the titanium dioxide production sector in China, with a full industry chain advantage and high product quality, but it faces challenges in revenue and profitability compared to industry leaders [1][2]. Group 1: Business Performance - In Q3 2025, Huiyun Titanium's revenue was 1.328 billion yuan, ranking 4th in the industry, significantly lower than the leader Longbai Group's 19.436 billion yuan and the second-ranked Titan Chemical's 5.765 billion yuan [2]. - The main revenue source was rutile titanium dioxide, generating 729 million yuan, accounting for 87.34% of total revenue [2]. - The net profit for the same period was -112.446 million yuan, also ranking 4th in the industry, with the industry average net profit being 299 million yuan [2]. Group 2: Financial Ratios - As of Q3 2025, Huiyun Titanium's debt-to-asset ratio was 56.45%, higher than the industry average of 50.28% [3]. - The gross profit margin was 7.22%, lower than the industry average of 8.53% [3]. Group 3: Executive Compensation - The chairman, Zhong Zhengguang, received a salary of 813,800 yuan in 2024, a decrease of 112,800 yuan from 2023 [4]. - The general manager, He Mingchuan, earned 777,800 yuan in 2024, an increase of 76,200 yuan from the previous year [4]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 4.84% to 25,300 [5]. - The average number of circulating A-shares held per shareholder decreased by 4.62% to 13,200 [5].

Core Insights - The titanium dioxide sector experienced a 0.73% increase, ranking fifth among concept sectors, with five stocks rising, including Zhenhua Co., which hit the daily limit, and Guocheng Mining, Tianyuan Co., and Jinpu Titanium, which rose by 8.45%, 6.23%, and 3.36% respectively [1] Group 1: Market Performance - The titanium dioxide concept saw a net inflow of 90 million yuan from main funds, with Tianyuan Co. leading the inflow at 86.26 million yuan, followed by Zhenhua Co., Guocheng Mining, and Jinpu Titanium with inflows of 76.28 million yuan, 46.07 million yuan, and 13.72 million yuan respectively [2][3] - The top stocks by net inflow ratio included Tianyuan Co. at 8.61%, Guocheng Mining at 5.65%, and Jinpu Titanium at 5.44% [3] Group 2: Stock Performance - Zhenhua Co. recorded a 10% increase, while Guocheng Mining and Tianyuan Co. rose by 8.45% and 6.23% respectively [1][3] - The stocks with the largest declines included Daon Co. at -9.32%, followed by Titan Chemical at -1.93% and Huiyun Titanium at -1.84% [1][4]

Core Insights - Guangdong Huiyun Titanium Industry Co., Ltd. reported a revenue of 1.328 billion yuan for the first three quarters of 2025, marking a year-on-year increase of 7.92%, with Q3 alone achieving 493 million yuan, a growth of 12.91% [1][2] - The company's success is attributed to its "premium strategy," which focuses on optimizing product quality and after-sales service, leading to steady growth in titanium dioxide production and sales [1] - Huiyun Titanium has been enhancing its industrial chain layout to improve core competitiveness, with key projects starting to yield benefits [1][2] Financial Performance - The net cash flow from operating activities for the first three quarters saw a significant year-on-year increase, and the monetary funds have substantially risen since the beginning of the year, providing solid financial support for future projects and R&D [2] - The company’s revenue growth is supported by the successful launch of the 200,000 tons/year titanium white acid concentration technology renovation project, which effectively reduces raw material procurement costs [1][2] Strategic Initiatives - Huiyun Titanium has entered the mining development sector through acquisitions, enhancing its self-supply capability for key raw materials, which will further stabilize the supply chain and lower procurement costs [1] - The establishment of a marketing company in Singapore is expected to accelerate the company's expansion into overseas markets, laying the groundwork for increased international market share [1] R&D and Market Expansion - The company has increased its R&D investment by 6.48% year-on-year in the first three quarters, resulting in multiple invention patents and breakthroughs in new applications of titanium dioxide [2] - The titanium dioxide products are now being applied in emerging fields such as consumer electronics, new energy batteries, and environmental protection, indicating a shift from traditional chemicals to high-value new materials [2]