BAOTI(SH:600456) Chang Jiang Shang Bao·2025-04-02 00:32Core Viewpoint - Baotai Co., Ltd. plans to raise up to 3.5 billion yuan through convertible bonds to expand its production capacity and improve operational efficiency in the titanium and titanium alloy sector [1][2][4] Group 1: Financing and Investment Plans - The company intends to issue convertible bonds totaling no more than 3.5 billion yuan, with proceeds allocated to four major projects: titanium resource recycling and casting quality enhancement, aerospace-grade titanium and titanium alloy intelligent forging line, near-net-shape production line, and working capital [2][3] - The investment amounts for the four projects are 1.466 billion yuan, 1.258 billion yuan, 271 million yuan, and 973 million yuan, respectively [2] Group 2: Production and Financial Performance - In 2024, Baotai Co., Ltd. reported revenue of 6.657 billion yuan, a decrease of 3.9% year-on-year, while net profit reached 576 million yuan, an increase of 5.92% [4] - The production volume of titanium products was 33,600 tons, up 12% year-on-year, and sales volume was 31,300 tons, an increase of 6.54% [4] - The company achieved a production and sales rate of 93.12% [4] Group 3: Future Plans and Goals - For 2025, the company aims for a revenue target of 7 billion yuan, with a cost plan of 6.2 billion yuan and a production target of 43,000 tons of titanium products [4][5] - The total funding requirement for 2025 is estimated at 7.5 billion yuan for various operational needs [5] Group 4: Research and Development - Baotai Co., Ltd. has established itself as a leader in the industry by focusing on research and innovation, having set 10 standards and received multiple awards and patents in 2024 [5]