广东惠云钛业股份有限公司 关于召开公司 2023 年第二次临时股东大会的提示性公告 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、误导性陈述或重大遗漏。 广东惠云铁业股份有限公司（以下简称"本公司"或"公司"）第四届董事 会第二十一次会议审议通过了《关于召开 2023 年第二次临时股东大会的议案》 决定于 2023 年 8 月 15 日（星期二）召开公司 2023 年第二次临时股东大会，本 次股东大会通知己于2023 年7月31日在巨潮资讯网（http://www.cninfo.com.cn） 披露（公告编号：2023-049），现将相关事项提示如下： 一、召开会议的基本情况 （一）会议届次：2023 年第二次临时股东大会。 （二）会议召集人：公司董事会。公司第四届董事会第二十一次会议同意召 开本次股东大会。 | 证券代码：300891 | 证券简称：惠云钛业 | 公告编号：2023-050 | | --- | --- | --- | | 债券代码：123168 | 债券简称：惠云转债 | | 1、会议召开的时间：于 2023 年 8 月 15 日（星期二）下午 14:30 2、网 ...

证券代码：300891 证券简称：惠云钛业 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 投资者关系活动记录表 编号：2023-039 □特定对象调研 □分析师会议 投资者 □媒体采访 √业绩说明会 关系活 □新闻发布会 □路演活动 动类别 □现场参观 □其他 （请文字说明其他活动内容） 参与单 位名称 参与公司 2022 年度网上业绩说明会的投资者 及人员 姓名 时间 2023 年 5 月 18 日 地点 全景网"投资者关系互动平台"（http://ir.p5w.net） 1、广东惠云钛业股份有限公司： 董事长钟镇光先生 上市公 董事、总经理何明川先生 司接待 副董事长、副总经理钟熹女士 人员姓 董事、副总经理叶胜先生 名 副总经理、财务总监赖庆妤女士 独立董事熊明良先生 董事会秘书李燕敏女士 2、东莞证券股份有限公司： 郭文俊先生（保荐代表人） 郭彬先生（保荐代表人） 1、公司新能源产业园中试项目开工了么？ 您好，感谢您的关注。公司亚铁综合利用研发中试技改线项目已取得环评 批复（具体详见公司 2023 年 4 月 21 日披露的公告），目前已开工建设，后续 如有节点性进展，公司将及 ...

Financial Performance - The company's operating revenue for 2022 was ¥1,512,481,275.68, a decrease of 2.59% compared to ¥1,552,700,559.80 in 2021[22]. - The net profit attributable to shareholders for 2022 was ¥14,171,148.11, representing a significant decline of 92.81% from ¥196,976,609.86 in 2021[22]. - The cash flow from operating activities for 2022 was ¥1,942,648.47, down 98.88% from ¥174,026,363.96 in 2021[22]. - The basic earnings per share for 2022 was ¥0.04, a decrease of 91.84% compared to ¥0.49 in 2021[22]. - The weighted average return on equity for 2022 was 1.10%, down from 16.12% in 2021, indicating a decline of 15.02%[22]. - The company reported a net profit excluding non-recurring gains and losses of ¥14,493,368.14 for 2022, down 92.90% from ¥204,251,191.58 in 2021[22]. - The company experienced a significant decline in quarterly net profit, with the fourth quarter showing a loss of ¥22,961,452.77[24]. - The gross profit margin for the industrial sector was 8.31%, down 15.31% from the previous year[64]. - The company reported a significant increase in revenue, achieving a total of 10 million RMB in 2022, representing a growth of 15% compared to the previous year[185]. Market and Industry Trends - The apparent demand for titanium dioxide in China for 2022 was approximately 263.1 million tons, a decrease of 1.47% year-on-year[34]. - The demand for titanium dioxide is significantly influenced by the real estate sector, with additional growth driven by increased exports and expansion into new industries such as electronics and automotive[36]. - The titanium dioxide industry in China has seen capacity growth from 190,000 tons/year in 1998 to nearly 4.7 million tons/year in 2022, with production reaching 3.914 million tons[35]. - The company anticipates a recovery in the titanium dioxide downstream demand in 2023, supported by favorable policies and a recovering domestic economy[123]. - The company recognizes the cyclical nature of the macroeconomy and its impact on downstream industries, particularly in the coatings sector, and is focusing on new product development to adapt to market changes[134]. Strategic Plans and Future Outlook - The company emphasizes the uncertainty of its future development strategies and operational plans, which depend on market conditions and various factors[4]. - The company's future outlook includes plans for market expansion and new product development, although specific details are not disclosed in the report[4]. - The company plans to enhance operational efficiency through the orderly construction and production of IPO and convertible bond projects, focusing on green development and technological innovation[61]. - The company aims to enhance its market share and brand influence by leveraging the advantages of the Guangdong-Hong Kong-Macao Greater Bay Area and focusing on both domestic and international market expansion[125]. - The company plans to invest RMB 300 million in new product development and technology upgrades over the next two years[167]. - The company has launched a new eco-friendly titanium dioxide product line, which is expected to contribute an additional RMB 50 million in revenue in 2023[167]. Research and Development - The company has developed several proprietary technologies for titanium dioxide production, maintaining a leading position in domestic innovation[40]. - The company has initiated several new R&D projects, including high-purity titanium dioxide powders for various applications, aimed at enhancing market competitiveness[74][75]. - The company is enhancing its supply chain efficiency, aiming to reduce operational costs by 5% in the upcoming fiscal year[167]. - The company is committed to improving its production scale and efficiency, with ongoing investments in technology and information operations[61]. - The company emphasizes talent development and innovation, aiming to optimize its talent structure and enhance its R&D capabilities through partnerships with educational institutions[129]. Risk Management - The report highlights the potential risks the company may face and the corresponding countermeasures, detailed in the management discussion and analysis section[5]. - The company faces risks from fluctuations in titanium dioxide prices, which directly impact revenue and profit, and plans to enhance market analysis and customer communication to mitigate these risks[131]. - The company is also exposed to supply and price volatility of raw materials, particularly titanium concentrate, and is working on diversifying suppliers and optimizing procurement strategies[132][133]. - The company has maintained normal operation of its environmental protection facilities, with pollutant emissions meeting standards and no major safety or environmental accidents reported[136]. Corporate Governance - The company has established a fair and transparent performance evaluation and incentive mechanism for its directors, supervisors, and senior management[142]. - The board's commitment to corporate governance and operational transparency was highlighted throughout the reporting period[183]. - The independent directors maintained communication with management to ensure objective decision-making and governance[183]. - The company emphasizes the importance of considering the interests of minority shareholders in decision-making processes[183]. Shareholder Returns - The profit distribution plan approved by the board proposes a cash dividend of 0.2 RMB per 10 shares (tax included) based on a total of 400,000,000 shares, with no bonus shares issued[5]. - The total distributable profit available for shareholders is 440,245,421.45 yuan, after accounting for the net profit and previous dividends paid[194].

Financial Performance - The company's revenue for Q1 2023 was ¥472,538,473.85, representing a 15.09% increase compared to ¥410,580,810.78 in the same period last year[5]. - The net profit attributable to shareholders decreased significantly by 98.40% to ¥465,789.62 from ¥29,073,908.83 year-on-year[5]. - The net profit for the current period was ¥522,684.80, a significant decrease of 98.2% from ¥29,073,908.83 in the previous period[20]. - The company experienced a decrease in diluted earnings per share by 98.35% to ¥0.0012 from ¥0.0727 in the previous year[5]. - Basic and diluted earnings per share decreased to ¥0.0012 from ¥0.0727 in the previous period, reflecting the decline in profitability[20]. Cash Flow - The net cash flow from operating activities was negative at -¥6,212,474.55, a decline of 533.73% compared to ¥1,432,339.48 in the previous year[5]. - The net cash flow from operating activities was negative at -¥6,212,474.55, compared to a positive cash flow of ¥1,432,339.48 in the previous period[22]. - The net cash flow from investing activities was -¥78,160,123.20, reflecting increased cash outflows for fixed asset purchases and ongoing construction projects[10]. - The company reported a net cash outflow from investing activities of -¥78,160,123.20, compared to -¥11,371,316.01 in the previous period, indicating increased investment expenditures[23]. - The net cash flow from financing activities was -¥3,764,349.85, a decrease from a positive cash flow of ¥15,627,990.12 in the previous period, suggesting tighter financing conditions[24]. Assets and Liabilities - The total assets at the end of Q1 2023 were ¥2,489,994,391.00, an increase of 1.72% from ¥2,447,893,199.66 at the end of the previous year[5]. - The company's current assets decreased to CNY 1,273,698,421.58 from CNY 1,367,485,538.78, reflecting a decline of approximately 6.9%[16]. - The total liabilities rose to CNY 1,146,242,624.48 from CNY 1,104,965,943.89, marking an increase of about 3.7%[17]. - The company's total equity as of March 31, 2023, was CNY 1,343,751,766.52, slightly up from CNY 1,342,927,255.77[17]. Accounts and Inventory - Accounts receivable increased by 99.69% to ¥139,224,654.16 due to higher sales revenue, while inventory decreased by 23.68% to ¥275,825,884.76[8]. - Accounts receivable increased significantly to CNY 139,224,654.16 from CNY 69,720,928.26, representing a growth of approximately 99.5%[16]. - Inventory decreased to CNY 275,825,884.76 from CNY 361,405,176.78, indicating a decline of about 23.6%[16]. Expenses - Financial expenses surged by 3,324.47% to ¥2,442,007.07, primarily due to increased interest from short-term loans and convertible bonds[9]. - Research and development expenses rose to ¥12,029,810.93, an increase of 15.5% compared to ¥10,411,311.14 in the previous period, indicating a focus on innovation[19]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 28,381, with the top three shareholders holding a combined 61.95% of the shares[12]. Other Developments - The company has made progress on several fundraising projects and established a doctoral workstation in Guangdong Province, as disclosed in their recent announcements[14].

Financial Performance - In 2022, the company faced adverse impacts on its operating performance due to multiple factors, including a decline in downstream real estate demand and high prices of raw materials, particularly a significant surge in sulfur prices[4]. - In 2022, the company's operating revenue was CNY 1,512,481,275.68, a decrease of 2.59% compared to CNY 1,552,700,559.80 in 2021[22]. - The net profit attributable to shareholders was CNY 14,171,148.11, down 92.81% from CNY 196,976,609.86 in the previous year[22]. - The cash flow from operating activities was CNY 1,942,648.47, a significant decline of 98.88% compared to CNY 174,026,363.96 in 2021[22]. - The basic earnings per share dropped to CNY 0.04, a decrease of 91.84% from CNY 0.49 in 2021[22]. - The company's net asset attributable to shareholders increased by 2.86% to CNY 1,342,735,557.22 at the end of 2022[22]. - The apparent demand for titanium dioxide in China decreased by 1.47% in 2022, amounting to approximately 263.1 million tons[34]. - The export volume of titanium dioxide from China reached 140.58 million tons in 2022, an increase of 7.17% year-on-year[34]. - The company reported a significant decline in net profit after deducting non-recurring gains and losses, with a net profit of CNY 14,493,368.14, down 92.90% from CNY 204,251,191.58 in 2021[22]. - The weighted average return on equity fell to 1.10% in 2022, down from 16.12% in 2021[22]. Production and Capacity - The company’s main products include titanium dioxide, which is produced through both sulfate and chloride processes, with a focus on high-quality raw materials[15]. - The company has a production capacity utilization rate of 82.67% for rutile titanium dioxide and 109.42% for rutile titanium dioxide in plastic applications, indicating strong operational efficiency[41]. - The company is currently expanding its production capacity with projects underway to increase sulfuric acid method rutile titanium dioxide capacity from 50KT/year to 80KT/year[41]. - In 2022, the company achieved a total titanium dioxide production of 93,700 tons, an increase of 13.85% year-on-year[49]. - The company has a production capacity of approximately 50,000 tons for the rutile titanium dioxide production line and 80,000 tons for the finished product annually[51]. Research and Development - The company has developed several proprietary technologies for titanium dioxide production, maintaining a leading position in the domestic market[40]. - The company holds 7 invention patents and 14 utility model patents, which significantly enhance product quality and technological level[46]. - The company is focused on optimizing internal control management to improve operational efficiency and reduce business risks[53]. - The company has ongoing R&D projects for high-purity rutile titanium dioxide ultrafine powder, aimed at enhancing market competitiveness[74]. - The company is in the process of developing several new products and technologies, including high-purity titanium dioxide for various applications, aimed at enhancing market competitiveness[75]. Market and Industry Trends - The demand for titanium dioxide is significantly influenced by the real estate sector, which remains a major factor in market demand[36]. - Domestic titanium dioxide production companies have seen increased demand due to enhanced export capabilities, driven by improved product quality and technology[36]. - The domestic downstream industry for titanium dioxide is expected to continue growing, supported by factors such as the expansion of the existing housing market and upgrades in automotive consumption[36]. - The average prices of key raw materials, including titanium concentrate and sulfur, have changed, with titanium concentrate decreasing by 0.65% and sulfur increasing by 59.20% compared to the previous year[39]. - The titanium dioxide industry is experiencing increased competition, with a trend towards consolidation among larger firms, leading to heightened price competition[135]. Financial Management and Investments - The company raised a total of CNY 490 million through the issuance of convertible bonds, which will be invested in various projects including a technical transformation project for titanium dioxide production[58]. - The company has established three special accounts for managing raised funds, ensuring strict approval procedures for fund usage[102]. - The total amount of raised funds from both the IPO and convertible bonds is RMB 854.3 million, with a significant portion still available for future projects[96]. - The company reported a total revenue of 32,000,000 RMB for the reporting period[91]. - The company has a cash dividend distribution plan of 0.2 yuan per 10 shares, totaling 8,000,000 yuan, which accounts for 56.45% of the net profit attributable to shareholders[194]. Governance and Compliance - The company has established a transparent governance structure, ensuring compliance with relevant laws and regulations while maintaining independence from its controlling shareholder[141]. - The company emphasizes collaboration with stakeholders to balance interests and promote sustainable development[143]. - The company has implemented a full labor contract system and has established independent labor and social security relationships with its employees[147]. - The company has established independent financial accounting and management systems, ensuring no interference from controlling shareholders in financial decisions[150]. - The company has held multiple shareholder meetings with participation rates of approximately 63%[151][152]. Future Outlook - The company anticipates a recovery in the titanium dioxide market in 2023, driven by favorable economic policies and improving domestic demand[123]. - The company plans to enhance production efficiency through technological upgrades and cost reduction initiatives in 2023[124]. - The company aims to increase its market share by leveraging the advantages of the Guangdong-Hong Kong-Macao Greater Bay Area and expanding both domestic and international markets[125]. - The company has outlined its future outlook, emphasizing growth in user data and market expansion initiatives[167]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[175].

为充分尊重投资者、提升交流的针对性，现就公司2022年度业绩说明会前 向投资者公开征集问题，广泛听取投资者的意见和建议。投资者可于2023年5月 12日（星期五）17：00前访问http://ir.p5w.net/zj/，或扫描下方二维码，进入问 题征集专题页面。公司将在2022年度业绩说明会上，对投资者普遍关注的问题 进行回答。 欢迎广大投资者积极参与本次网上说明会。 | 证券代码：300891 | 公司简称：惠云钛业 | 公告编号：2023-030 | | --- | --- | --- | | 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 关于举行2022年度网上业绩说明会的公告 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2023年4月27日披露2022 年年度报告。为便于广大投资者更深入全面地了解公司情况，公司定于2023年5 月18日（星期四）下午15:30至17:00在全景网举办2022年度业绩说明会，本次年 度业绩说明会将采用网络远程的方式举行，投资者可登录 ...

广东惠云钛业股份有限公司 2022 年第三季度报告 证券代码：300891 证券简称：惠云钛业 公告编号：2022-079 广东惠云钛业股份有限公司 2022 年第三季度报告 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、误导性陈述或重 大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 3.第三季度报告是否经过审计 □是 否 1 广东惠云钛业股份有限公司 2022 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 319,906,644.91 | -25.01% | ...

Group 1: Event Details - Guangdong Huiyun Titanium Industry Co., Ltd. will participate in the "2022 Guangdong Listed Companies Investor Online Reception Day" [2] - The event will be held online on September 22, 2022, from 15:50 to 16:50 [2] - Investors can participate via the "Panorama Roadshow" website, WeChat, or the Panorama Roadshow APP [2] Group 2: Company Representatives - The event will feature communication with key company representatives including Chairman Zhong Zhengguang, General Manager He Mingchuan, and others [2] - The company encourages active participation from investors during the online interaction [2] Group 3: Assurance of Information - The company and its board guarantee the authenticity, accuracy, and completeness of the disclosed information [2] - There are no false records, misleading statements, or significant omissions in the announcement [2]

Financial Performance - The company's operating revenue for the first half of 2022 was RMB 810,175,360.30, representing an increase of 11.83% compared to RMB 724,466,789.32 in the same period last year[20]. - The net profit attributable to shareholders of the listed company decreased by 45.71% to RMB 58,854,126.29 from RMB 108,398,067.29 year-on-year[20]. - The net cash flow from operating activities fell by 62.07% to RMB 17,506,579.83, down from RMB 46,153,882.89 in the previous year[20]. - Basic and diluted earnings per share both decreased by 44.44% to RMB 0.15 from RMB 0.27 in the same period last year[20]. - The weighted average return on net assets was 4.43%, down from 9.11% in the previous year, a decrease of 4.68%[20]. - The operating cost increased by 28.99% to RMB 687,136,021.96, leading to a significant impact on profit margins[49]. - The gross margin for the main product, rutile titanium dioxide, decreased by 13.22% to 11.15% due to rising costs[51]. Assets and Liabilities - Total assets at the end of the reporting period increased by 12.98% to RMB 2,056,741,270.59 from RMB 1,820,473,149.97 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased by 1.41% to RMB 1,323,786,241.00 from RMB 1,305,373,593.84 at the end of the previous year[20]. - Current assets increased to CNY 1,144,973,678.35 as of June 30, 2022, up from CNY 1,003,048,802.53 at the beginning of the year, representing a growth of approximately 14.1%[170]. - Total liabilities amounted to CNY 732,955,029.59, compared to CNY 515,099,556.13, which is an increase of approximately 42.3%[172]. - Short-term borrowings rose by 3.61% to RMB 292,201,840.77, reflecting the need for additional working capital[53]. Research and Development - Research and development investment was RMB 21,705,447.23, a slight increase of 0.91% year-on-year, indicating a commitment to innovation[49]. - The company is focusing on research and development of new technologies and products, enhancing production efficiency and reducing costs[40]. - The company is committed to R&D for new products and adjusting product structures in response to macroeconomic changes and market demand[86]. Market and Industry Insights - The total export volume of titanium dioxide in China reached 746,700 tons in the first half of 2022, representing a year-on-year increase of 10.68%[29]. - The apparent demand for titanium dioxide in China was approximately 2.67 million tons in 2021, with significant applications across various industries[28]. - The company aims to extend its titanium dioxide industry chain into the new energy sector, leveraging by-products like ferrous sulfate[32]. Environmental Compliance - The company has maintained compliance with environmental regulations, with no significant safety or environmental incidents reported during the reporting period[88]. - The company is classified as a key pollutant discharge unit by environmental protection authorities[99]. - Wastewater total discharge for the titanium white plant is compliant with the Guangdong Province water pollutant discharge standards, with a pH level of 7.276[99]. - The company has implemented strict self-monitoring protocols in compliance with environmental regulations and has committed to transparency in reporting monitoring results[112]. Corporate Governance and Shareholder Information - The company has developed a structured governance framework to protect shareholder rights and ensure compliance with relevant laws and regulations[114]. - The total number of ordinary shareholders at the end of the reporting period was 33,815[156]. - Major shareholders include Zhong Zhengguang with 22.50% (90,115,000 shares), Chaoyang Investment Co., Ltd. with 20.45% (81,796,700 shares), and American Wanbang Co., Ltd. with 19.79% (79,165,000 shares)[156]. - The financial report for the first half of 2022 has not been audited[168]. Future Outlook and Strategic Plans - Future development strategies and operational plans are subject to market conditions and uncertainties[3]. - The company plans to continue expanding its market presence and investing in new technologies[195]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its operational capabilities[101].

Financial Performance - The company's revenue for Q1 2022 was CNY 410,580,810.78, representing a 28.61% increase compared to CNY 319,241,454.53 in the same period last year[3] - Net profit attributable to shareholders decreased by 34.80% to CNY 29,073,908.83 from CNY 44,590,142.64 year-on-year[3] - Total operating revenue for Q1 2022 was CNY 410,580,810.78, an increase of 28.7% compared to CNY 319,241,454.53 in Q1 2021[18] - Net profit for Q1 2022 was CNY 29,073,908.83, a decrease of 34.8% from CNY 44,590,142.64 in Q1 2021[20] - Earnings per share for Q1 2022 were CNY 0.0727, down from CNY 0.1115 in Q1 2021[21] Cash Flow - The net cash flow from operating activities significantly dropped by 98.12%, amounting to CNY 1,432,339.48 compared to CNY 76,349,848.31 in the previous year[9] - Cash flow from operating activities for Q1 2022 was CNY 1,432,339.48, significantly lower than CNY 76,349,848.31 in Q1 2021[22] - The cash inflow from financing activities totaled 82,230,870.50 CNY, while cash outflow was 66,602,880.38 CNY, resulting in a net cash flow of 15,627,990.12 CNY from financing activities[23] - The net cash flow from investment activities was -11,371,316.01 CNY, indicating a decrease compared to the previous period[23] - The net increase in cash and cash equivalents for the period was 5,901,864.46 CNY[23] Assets and Liabilities - Total assets increased by 4.29% to CNY 1,898,517,560.88 from CNY 1,820,473,149.97 at the end of the previous year[3] - Current assets reached CNY 1,046,359,777.02, up from CNY 1,003,048,802.53 at the start of the year, indicating a growth of approximately 4.3%[16] - Total liabilities as of Q1 2022 were CNY 564,305,728.31, an increase from CNY 515,099,556.13 in the previous year[18] - The total liabilities of the company increased, with current liabilities reaching CNY 298,405,433.57, up from CNY 274,000,000.00 at the beginning of the year[16] Inventory and Receivables - Accounts receivable rose by 51.82% to CNY 139,516,573.63, attributed to increased sales revenue and outstanding payments[7] - Inventory increased by 14.42% to CNY 304,868,476.63, mainly due to rising raw material prices and higher unit costs of inventory[7] - Inventory levels increased to CNY 304,868,476.63 from CNY 266,445,993.92, representing a growth of about 14.4%[16] - Accounts receivable increased to CNY 139,516,573.63 from CNY 91,893,851.99, showing a significant rise of about 51.8%[15] Operating Costs and Income - Operating costs surged by 46.16% to CNY 347,845,808.85, driven by increased sales volume and higher unit costs[8] - Total operating costs for Q1 2022 were CNY 374,575,024.62, up 42.5% from CNY 263,022,569.90 in the same period last year[18] - Other income rose by 78.10% to CNY 1,259,408.95, primarily due to increased government subsidies[8] Government Subsidies and Financing - The company received government subsidies amounting to CNY 1,209,015.40, which are closely related to its normal business operations[5] - The company reported a significant increase in financing cash flow, with net cash flow from financing activities at CNY 15,627,990.12, compared to a negative CNY 136,874.99 in the previous year[9] Research and Development - Research and development expenses increased to CNY 10,411,311.14, up from CNY 8,805,815.46 in Q1 2021, reflecting a focus on innovation[18] Capital Structure and Future Plans - The company is in the process of issuing convertible bonds to unspecified investors, which may impact its capital structure and funding strategies[13] - The company has announced a delay in some fundraising projects, which may affect its future financial planning and investment strategies[13] Production Capacity - The company reported a total of 3,000 tons of annual production capacity for the upgraded titanium dioxide project, which is a key development in its operational capabilities[13] Audit and Reporting - The company did not undergo an audit for the first quarter report[24] - The company’s financial report was released on April 27, 2022[24]