Core Viewpoint - The company held an investor communication meeting to discuss its performance and strategic developments, highlighting challenges and proactive measures taken in response to market conditions [1][2]. Group 1: Company Performance - The company reported a loss in the first half of 2025, primarily due to a decline in vanadium and titanium product prices [2]. - To address market changes, the company has implemented various measures, including increasing production capacity and optimizing product mix based on market demand [2]. - The company has successfully increased the output of vanadium products and titanium dioxide, with a focus on cost control and expanding sales channels [2]. Group 2: Strategic Partnerships - The collaboration with Dalian Rongke has deepened since the signing of a strategic cooperation agreement in September 2021, with a joint venture producing 2,000 cubic meters/year of vanadium electrolyte achieving stable operations [3]. - The supply of vanadium products to Dalian Rongke is expected to reach 20,000 tons in 2025, with plans for further expansion of production capacity [3]. Group 3: Industry Insights - The company discussed the impact of high-quality development initiatives on its competitiveness, emphasizing the advantages of all-vanadium flow batteries for large-scale energy storage applications [4]. - The company believes that the growth of the energy storage industry, driven by supportive policies, will create opportunities for all-vanadium flow batteries [4].

Core Viewpoint - The company aims to enhance its position as a leading player in the vanadium-titanium industry by integrating party leadership into its operations and focusing on high-quality development [1][2]. Group 1: Company Strategy and Development - The company is a major supplier of vanadium products globally and a key supplier of titanium raw materials in China, with a focus on creating a world-class leading enterprise in the vanadium-titanium sector [1]. - The company has developed a comprehensive utilization approach for low-grade, multi-metal coexisting vanadium-titanium magnetite, producing various products such as vanadium oxide, ferrovanadium, and titanium dioxide [1][3]. - The company implements a "1361" project to enhance its operational efficiency, which includes a work plan, three-dimensional support mechanisms, six key improvement areas, and a work ledger [3][4]. Group 2: Party Leadership and Organizational Development - The company emphasizes the integration of party leadership into its business strategy, ensuring that party goals align with business objectives [2][3]. - A series of unique and effective party-building brands have been established, focusing on grassroots party development and enhancing the overall work level of party branches [2][3]. - The company has created a detailed and quantifiable system for party work, ensuring comprehensive coverage and accountability in its operations [3][4]. Group 3: Innovation and Technology Development - The company has formed a team to tackle key technical challenges in the production of titanium white powder, achieving full production capacity and cost efficiency [5][6]. - The company has successfully developed high-purity vanadium pentoxide and other specialized vanadium products, with non-steel applications accounting for 32.22% of its vanadium usage [4][6]. - The company is committed to low-cost, high-efficiency utilization of local vanadium-titanium resources, driving innovation in production processes [6]. Group 4: Market Performance and Sales - The company has achieved a cumulative sales rate of 98.89% for vanadium products in the first five months of the year, with significant export proportions for titanium white powder [6]. - New titanium white powder products have been successfully marketed, contributing to the company's growth and market presence [6]. Group 5: Future Outlook - The company plans to continue leveraging its vanadium-titanium resources to develop a low-cost, high-value, green, and intelligent manufacturing enterprise [6]. - The company aims to align its strategic planning and major decisions with national policies to ensure sustainable development [6].