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]

Group 1 - The company, Guangdong Huiyun Titanium Industry Co., Ltd., held its fifth board meeting on October 27, 2025, where the proposal for the 2025 Q3 report was approved [1] - The 2025 Q3 report will be disclosed on October 29, 2025, on the designated information disclosure website of the China Securities Regulatory Commission [1] - The board guarantees the authenticity, accuracy, and completeness of the information disclosed, ensuring there are no false records, misleading statements, or significant omissions [1][2]

Group 1 - The company Huayun Titanium Industry (SZ 300891) announced the convening of its fifth session of the fifteenth board meeting on October 27, 2025, to review the proposal regarding the "2025 Q3 Report" [1] - For the year 2024, the company's revenue composition is 99.85% from industrial operations and 0.15% from other businesses [1]

Core Viewpoint - The company, 惠云钛业, has been recognized as a "Green Factory" for the year 2025 by the Guangdong Provincial Department of Industry and Information Technology, following a voluntary application and expert evaluation process [1] Group 1: Company Recognition - 惠云钛业 has been awarded the title of "Green Factory" as part of the 2025 Guangdong Province Green Manufacturing List [1] - The recognition is based on compliance with the "Interim Measures for the Gradual Cultivation and Management of Green Factories" and relevant local implementation guidelines [1] - The evaluation process included voluntary application, recommendations from provincial authorities, expert reviews, and public announcements [1]

Core Viewpoint - Huiyun Titanium Industry (300891.SZ) reported a revenue of 1.328 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 7.92% [1] Financial Performance - The net loss attributable to shareholders of the listed company was 11.2122 million yuan [1] - The net loss attributable to shareholders, excluding non-recurring gains and losses, was 12.9805 million yuan [1] - The basic loss per share was 0.0282 yuan [1]

| 证券代码：300891 | 公司简称：惠云钛业 | 公告编号：2025-088 | | --- | --- | --- | | 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2025年前三季度计提资产减值准备的公告 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。 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9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9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1-9月末存在可能发生减值迹象的资产，范围包括存货 ...

关于2025年第三季度报告披露提示性公告 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10月27日，广东惠云钛业股份有限公司（以下简称"公司"）召开第 五届董事会第十五次会议，审议通过了《关于公司<2025年第三季度报告>的议 案》。 | 证券代码：300891 | 证券简称：惠云钛业 | 公告编号：2025-084 | | --- | --- | --- | | 债券代码：123168 | 债券简称：惠云转债 | | 为使投资者全面了解本公司的经营成果、财务状况，公司《2025年第三季 度报告》于2025年10月29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。 广东惠云钛业股份有限公司 特此公告。 广东惠云钛业股份有限公司董事会 2025年10月29日 1 ...

| 证券代码：300891 | 证券简称：惠云钛业 | 公告编号：2025-086 | | --- | --- | --- | | 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 关于使用闲置自有资金进行现金管理的公告 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。 重要内容提示： 1、投资种类：由商业银行等金融机构发行的，经公司及子公司筛选被评估 为安全性高、流动性好的投资品种。 2、投资金额：不超过人民币3亿元（含本数）。 3、特别风险提示： （1）本次现金管理主要用于购买期限在12个月（含）以内的安全性高、流 动性好的产品，但金融市场受国家宏观经济的影响较大，投资所获收益存在波 动，不可预期。 （2）公司及子公司根据经济形势以及内外部环境变化，在确保资金安全的 情况下可能会适时适量调整相关现金管理计划，投资收益不可预期。 （3）相关工作人员对资金的操作和监管风险。 广东惠云钛业股份有限公司（以下简称"公司"）于2025年10月27日召开了 第五届董事会审计委员会第十次会议、第五届董事会第十五次会议，审议通过 了《关于使用 ...