Core Viewpoint - The company plans to acquire 100% of Shandong Daon Titanium Industry Co., Ltd. through a combination of issuing shares and cash payment, along with raising supporting funds [1] Group 1 - The company received an inquiry letter from the Shenzhen Stock Exchange on November 14, 2025, requiring a written response within 30 days [1] - Due to the need for further clarification on some issues raised in the inquiry letter, the company has applied for an extension to submit the written response within 30 days after the original deadline [1] - The transaction is subject to approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission, introducing uncertainty regarding the approval and registration timeline [1]