Market Overview - On September 15, the chemical raw materials sector declined by 0.16% compared to the previous trading day, with Zhenhua Co., Ltd. leading the decline [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index closed at 13005.77, up 0.63% [1] Stock Performance - Notable gainers in the chemical raw materials sector included: - Longbai Group (002601) with a closing price of 19.62, up 5.09% and a trading volume of 667,300 shares, totaling 1.314 billion yuan [1] - ST Yatai (000691) with a closing price of 7.81, up 4.97% and a trading volume of 101,400 shares, totaling 79.1972 million yuan [1] - Jinhai Titanium Industry (000545) with a closing price of 3.69, up 4.53% and a trading volume of 1,184,600 shares, totaling 435 million yuan [1] - Major decliners included: - Zhenhua Co., Ltd. (603067) with a closing price of 17.90, down 4.33% and a trading volume of 180,800 shares, totaling 329 million yuan [2] - Sanyou Chemical (600409) with a closing price of 5.78, down 3.02% and a trading volume of 368,900 shares, totaling 216 million yuan [2] - Jinniu Chemical (600722) with a closing price of 7.09, down 2.88% and a trading volume of 319,900 shares, totaling 228 million yuan [2] Capital Flow - The chemical raw materials sector experienced a net outflow of 398 million yuan from institutional investors, while retail investors saw a net inflow of 239 million yuan [2][3] - Notable capital flows included: - Huayi Group (600623) with a net inflow of 26.8479 million yuan from institutional investors [3] - Tianyuan Co., Ltd. (002386) with a net inflow of 25.0141 million yuan from institutional investors [3] - Xue Tian Salt Industry (600929) with a net inflow of 21.3913 million yuan from institutional investors [3]

Market Overview - On September 12, the chemical raw materials sector declined by 0.41%, with Dayang Bio leading the drop [1] - The Shanghai Composite Index closed at 3883.69, up 0.22%, while the Shenzhen Component Index closed at 12996.38, up 0.13% [1] Stock Performance - Notable gainers in the chemical raw materials sector included: - Zhenhua Co., Ltd. (603067) with a closing price of 18.59, up 4.97% [1] - ST Yatai (000691) with a closing price of 7.44, up 4.94% [1] - Shilong Industry (002748) with a closing price of 10.17, up 4.31% [1] - Major decliners included: - Dayang Bio (003017) with a closing price of 33.78, down 3.82% [2] - Sanyou Chemical (600409) with a closing price of 5.97, down 2.45% [2] - Kaisheng New Materials (301069) with a closing price of 23.12, down 2.41% [2] Capital Flow - The chemical raw materials sector experienced a net outflow of 209 million yuan from main funds, while retail funds saw a net inflow of 89.33 million yuan [2] - Key stocks with significant capital flow included: - Longbai Group (002601) with a main fund net inflow of 26.73 million yuan [3] - Zhongke Titanium White (002145) with a main fund net inflow of 25.74 million yuan [3] - Huayi Group (600623) with a main fund net inflow of 22.27 million yuan [3]

Core Viewpoint - The acquisition of a 70% stake in Chenxiang Minerals by Guangdong Huiyun Titanium Industry is a strategic move to secure upstream titanium ore resources, reduce raw material costs, and enhance the company's competitive edge and sustainability in the titanium dioxide industry [1][2]. Group 1: Acquisition Details - The company has completed the business registration procedures for Chenxiang Minerals and obtained the necessary licenses, marking a significant step in its acquisition strategy [1]. - Chenxiang Minerals primarily engages in the mining, processing, and sales of titanium ore and holds mining rights over an area of 3.2697 square kilometers in Guangnan County, Yunnan Province [1]. Group 2: Strategic Importance - The acquisition is part of Huiyun Titanium's broader strategy to integrate its supply chain, moving from raw material sourcing to production and customer applications, thereby enhancing its overall industry chain efficiency [2]. - This move is expected to improve resource allocation across the company's operations and enable rapid responses to market demand changes [2]. Group 3: Industry Context - The titanium dioxide industry faces challenges related to upstream mineral price fluctuations and supply chain stability, with many companies relying heavily on external suppliers [3]. - By acquiring Chenxiang Minerals, Huiyun Titanium aims to mitigate risks associated with external supply dependencies and establish a stable supply chain, thereby creating a "cost moat" for its titanium dioxide production [3].

惠云钛业公告，全资子公司惠云矿业投资拟以自有或自筹资金人民币3060万元收购郑大华、陈文华合计 持有辰翔矿产的53.125%股权，并以自有或自筹资金人民币3240万元向辰翔矿产增资。交易完成后，惠 云矿业投资将持有辰翔矿产70%股权，辰翔矿产成为惠云钛业的合并报表范围内的子公司。辰翔矿产的 主营业务为矿产资源开发，此次收购有助于惠云钛业拓展业务领域，增强竞争力。 ...

| 证券代码：300891 | 公司简称：惠云钛业 | 公告编号：2025-065 | | --- | --- | --- | | 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 关于全资子公司收购广南县辰翔矿产开发有限责任公司控股股权并增 资涉及矿业权投资的进展公告 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。 一、基本情况概述 广东惠云钛业股份有限公司（以下简称"公司"）于 2025 年 6 月 26 日召开了第 五届董事会第十一次会议，审议通过了《关于公司全资子公司收购广南县辰翔矿产 开发有限责任公司控股股权并向其增资的议案》，公司的全资子公司广东省惠云矿业 投资有限公司（以下简称"惠云矿业投资"）与郑大华、陈文华及广南县辰翔矿产开 发有限责任公司（以下简称"辰翔矿产"）就股权转让以及增资事宜签署了《关于支 付现金购买资产及以现金对标的公司增资的协议》，惠云矿业投资拟以自有或自筹资 金人民币 3,060 万元收购郑大华、陈文华合计持有辰翔矿产的 53.125%股权。同时， 惠云矿业投资拟以自有或自筹资金人民币 3,2 ...

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].