Core Points - The company has decided to cancel the supervisory board and amend its articles of association to enhance corporate governance and compliance with updated regulations [1][2] - The supervisory board's responsibilities will be transferred to the audit committee of the board of directors [1][2] - The company plans to revise its internal control systems in line with regulatory requirements, including the unification of terminology from "shareholders meeting" to "shareholders assembly" [2] - A proposal to convene the third extraordinary general meeting of shareholders in 2025 has been approved, pending necessary approvals from the controlling shareholder [2][3] Group 1 - The board of directors held the 17th temporary meeting and approved the cancellation of the supervisory board with a unanimous vote of 9 in favor [1] - The company will revise its internal control systems to improve governance, with the same unanimous approval [2] - The board has authorized the chairman to determine the timing and details for the upcoming extraordinary general meeting of shareholders [3]

Group 1 - The legal opinion letter is issued for the purpose of the company's upcoming shareholders' meeting scheduled for June 26, 2025, and is based on relevant laws and regulations [1][2] - The company has provided all necessary documents and information to the law firm, ensuring their authenticity and completeness [2][3] - The law firm confirms that the procedures for convening and holding the shareholders' meeting comply with applicable laws, regulations, and the company's articles of association [4][5] Group 2 - The shareholders' meeting was convened by the board of directors, and all shareholders registered by the cut-off date were entitled to attend and vote [5][6] - A total of 555 participants, representing 247,167,924 shares (51.7328% of total shares), attended the meeting either in person or via online voting [5][6] - The voting process was conducted in accordance with the company's articles of association, and the results were verified by representatives and the law firm [6][9] Group 3 - The meeting reviewed and voted on the agenda items as listed in the notice, with no new proposals submitted [6][7] - The voting results showed a high level of agreement on the proposals, with most receiving over 99% approval from attending shareholders [7][8] - The meeting's records were signed by the attendees, ensuring the legitimacy of the proceedings [8][9] Group 4 - The law firm concludes that the convening, attendance, and voting procedures of the shareholders' meeting were all legal and valid [9]

Core Viewpoint - The company announced a cash dividend distribution of 0.084 CNY per share, totaling 38.85 million CNY, approved at the annual shareholders' meeting on April 30, 2025 [1] Dividend Distribution Plan - The cash dividend of 0.084 CNY per share (including tax) will be distributed based on a total share capital of 462,500,000 shares [1] - The dividend will be distributed to all shareholders registered with China Securities Depository and Clearing Corporation Limited, Shanghai Branch, after the market closes on the registration date [1] Relevant Dates - The announcement includes specific dates for the registration, ex-dividend, and payment of the cash dividend, although these dates are not explicitly listed in the provided text [1] Tax Implications - For individual shareholders holding shares for over one year, the dividend income is exempt from personal income tax, resulting in an effective cash dividend of 0.084 CNY per share [2] - For shares held for less than one year, the company will not withhold personal income tax at the time of distribution, but tax will be calculated and withheld upon the sale of the shares [2] - The actual tax burden varies based on the holding period, with a 20% tax for holdings of one month or less, and a 10% tax for holdings between one month and one year [3] Distribution to Foreign Investors - For Qualified Foreign Institutional Investors (QFII), a 10% corporate income tax will be withheld, resulting in a net cash dividend of 0.0756 CNY per share [3][4] - Hong Kong investors will also receive a net cash dividend of 0.0756 CNY per share after a 10% withholding tax [4] Contact Information - For inquiries regarding the dividend distribution, shareholders can contact the board office at 0736-7318996 [4]

Core Viewpoint - The report outlines the verification opinions regarding the listing and circulation of restricted shares from the offline placement of Hunan Xiangtou Jintian Titanium Industry Technology Co., Ltd.'s initial public offering, confirming compliance with relevant regulations and the fulfillment of lock-up commitments by shareholders [1][5]. Summary by Sections 1. Type of Restricted Shares for Listing - The restricted shares for listing are from the offline placement of the initial public offering, totaling 5,829,694 shares, which represents 1.26% of the company's total share capital post-IPO [1][2]. 2. Changes in Share Capital - Since the formation of the restricted shares, there have been no changes in the company's share capital due to profit distribution or capital reserve transfers [2]. 3. Commitments Related to Restricted Shares - Shareholders of the restricted shares have committed to a lock-up period of 6 months from the IPO date, with 10% of their allocated shares subject to this restriction. All shareholders have adhered to these commitments [2][3]. 4. Details of Restricted Shares for Listing - The total number of restricted shares for listing is 5,829,694, with a listing date set for May 20, 2025. This amount constitutes 1.26% of the company's total share capital [3][4]. 5. Verification Opinions from Sponsoring Institutions - The sponsoring institutions have confirmed that all shareholders of the restricted shares have complied with their lock-up commitments, and the listing and circulation of these shares meet the requirements of relevant laws and regulations [4][5].

Core Points - The board of directors and all directors guarantee the authenticity, accuracy, and completeness of the quarterly report, assuming legal responsibility for its content [1] - The financial data for the first quarter of 2025 has not been audited [2] - The company has not identified any significant changes in major accounting data and financial indicators [3] Financial Data - The company reported its financial statements for the first quarter of 2025, including the consolidated balance sheet, profit statement, and cash flow statement, all of which are unaudited [5][6] - The company will not apply new accounting standards or interpretations that would adjust the financial statements for the first year of implementation [6] Shareholder Information - The report includes information on the total number of ordinary shareholders and the top ten shareholders, but no significant changes were noted in the shareholding structure [3] Other Important Information - The company held its eighth board meeting and the fourth supervisory meeting on March 31, 2025, where it approved the issuance of convertible bonds to unspecified targets [4] - The supervisory board confirmed that the preparation and review process of the quarterly report complied with legal and regulatory requirements, and the report accurately reflects the company's actual situation [7]

Core Viewpoint - Baoti shares have experienced a continuous decline for seven trading days, with a cumulative drop of -15.58% [1] Company Overview - Baoti Co., Ltd. was established on July 21, 1999, and is recognized as the first listed company in China's titanium industry, having been listed on the Shanghai Stock Exchange on April 12, 2002 [1] - The largest shareholder of Baoti is Baoti Group Co., Ltd. (formerly known as Baoji Nonferrous Metal Processing Plant) [1] Financial Performance - The report indicates that the fund under the management of the Fortune Fund, specifically the Fortune CSI Military Industry Leaders ETF, has increased its holdings in Baoti shares during the fourth quarter of the previous year [1] - Year-to-date performance of the ETF is -1.69%, ranking 2786 out of 3442 in its category [1][2] Fund Management - The fund managers for the Fortune CSI Military Industry Leaders ETF are Wang Lele and Niu Zhidong, both of whom have extensive experience in the investment management field [3][4] - Wang Lele has been with Fortune Fund since May 2015 and has managed multiple ETFs, including the Fortune CSI Military Industry Leaders ETF since July 2019 [3][4] - Niu Zhidong has been with Fortune Fund since August 2010 and has managed various funds, including the Fortune CSI Military Industry Leaders ETF since July 2019 [4][6] Market Comparison - The ETF's performance is compared to the average of its peers, which shows a near-term decline of -1.59% over the past week, while the same category average is -0.81% [2]