T (86-29) 8842 2608 E guantaoxa@guantao.com www.guantao.com 陕西省西安市雁塔区团结南路35号 高新新天地广场3号楼35层3501-08 35/F, Building 3, Gaoxin Xintiandi Square, 35 Tuanjie South Road, Yanta District, Xi'an 北京观韬（西安）律师事务所 关于宝钛集团有限公司 增持宝鸡钛业股份有限公司股份 的法律意见书 观意字 2025XA000510 号 二零二五年十月 11 1 陕西省西安市雁塔区团结南路35 新新天地广场3号楼35层3501-1 /F. Building 3. Gaoxin Xintiandi Square. 35 Tuaniie South Road. Yanta District, Xi'an 北京观韬(西安)律师事务所 关于宝钛集团有限公司 增持宝鸡钛业股份有限公司股份 的法律意见书 观意字 2025XA000510 号 致:宝钛集团有限公司 北京观韬(西安)律师事务所(以下简称为"本所")接受宝钛集团有限公司 (以下简称"增持人"或"宝钛 ...

Core Viewpoint - Baoti Group has completed its share buyback plan, acquiring approximately 7.79 million shares of Baoti Co., accounting for 1.6308% of the total share capital, with a total investment of about 239 million yuan, exceeding the lower limit of the planned buyback amount and proportion [1] Group 1: Share Buyback Plan - The implementation period of the share buyback plan will expire on October 10, 2025 [1] - Baoti Group executed the buyback through the Shanghai Stock Exchange's centralized bidding system [1] - The total amount spent on the buyback was approximately 239 million yuan [1] Group 2: Company Financials - For the first half of 2025, Baoti Co.'s revenue composition was as follows: titanium products accounted for 86.74%, other metal products for 8.74%, and other businesses for 4.52% [1] - As of the report date, Baoti Co. has a market capitalization of 15.7 billion yuan [1]

宝鸡钛业股份有限公司 关于控股股东增持公司股份计划实施完毕 暨增持结果的公告 证券代码：600456 证券简称：宝钛股份 公告编号：2025-049 （一）增持计划的实施结果 | 增持主体名称 | 宝钛集团有限公司 | | --- | --- | | 增持计划首次披露日 | 2025 年 4 月 11 日 | | 增持计划拟实施期间 | 2025 年 4 月 11 日～2025 年 10 月 10 日 | | 增持计划拟增持金额 | 不低于 1.5 亿元且不超过 3 亿元人民币 | | 增持计划拟增持数量 | 未设置具体增持数量 | | 增持计划拟增持比例 | 增持比例不低于公司总股本的 1%且不超过公司总股本 | | | 的 2% | | 增持股份实施期间 | 2025 年 4 月 11 日～2025 年 10 月 10 日 | | 增持股份结果 | 通过上海证券交易所以集中竞价方式，累计增持公司 | | 对应方式及数量 | 7,791,653 股 A 股股份 | | 累计增持股份金额 | 238,599,087.21 元（不含交易费用） | | 累计增持股份比例 | 1.6308% | | （占总股本） ...

Core Viewpoint - Baotai Co., Ltd. (600456.SH) has successfully completed its share buyback plan, exceeding the lower limit of the intended amount and proportion [1] Group 1: Buyback Plan Details - The implementation period of the buyback plan will expire on October 10, 2025 [1] - During the buyback period, Baotai Group has cumulatively acquired 7.7917 million shares, accounting for 1.6308% of the company's total share capital [1] - The total amount spent on the buyback reached 239 million yuan, excluding transaction fees [1]

Core Insights - The article highlights the strong growth and innovation in the titanium industry in Shaanxi Province, particularly through the efforts of Baotai Group, which has become a leader in titanium production and processing [1][2][3]. Industry Overview - Shaanxi's titanium production and processing volume is expected to reach nearly 70,000 tons in 2024, with an annual output value exceeding 60 billion yuan, accounting for 65% of China's total and 33% of global production [1]. - Baotai Group has made significant advancements in smelting, processing, and manufacturing equipment, driving technological progress and high-quality development in the province's titanium industry [1]. Product Development - Baotai Group has expanded its product offerings, with over 200 types of consumer titanium products now available, and has made breakthroughs in key technologies for deep-sea submersible components [2][3]. - The company is actively developing new applications in emerging fields such as renewable energy, consumer electronics, and medical devices, enhancing its market share in high-end titanium products [3]. Technological Advancements - Baotai Group has established the first domestically designed and developed hot continuous rolling production line for titanium and titanium alloys, capable of producing high-value rod and wire products [4]. - The company has achieved significant breakthroughs in the production of Hastelloy alloy, a high-end nickel-based alloy, which has historically been reliant on imports [5]. Innovation and Efficiency - The establishment of innovation studios within Baotai Group has improved production efficiency and fostered a culture of innovation among employees, leading to substantial cost savings [6]. - The company has maintained its position as the world's largest producer of titanium products since 2021, despite facing challenges such as market adjustments and raw material price fluctuations [7]. Market Impact - Baotai Group's growth has spurred the establishment of over 600 titanium processing and trading enterprises in Baoji, producing more than 300 types and over 5,000 specifications of titanium products for various industries [7].

Group 1 - The core viewpoint of the news is that Baotai Co., Ltd. has shown a significant increase in stock price and trading activity, indicating positive market sentiment and potential investment opportunities [1][2]. - As of October 9, Baotai's stock price rose by 2.03% to 33.19 CNY per share, with a trading volume of 4.51 billion CNY and a market capitalization of 15.857 billion CNY [1]. - Year-to-date, Baotai's stock has increased by 18.28%, with a 6.00% rise in the last five trading days, 5.26% in the last 20 days, and 10.38% in the last 60 days [1]. Group 2 - Baotai's main business involves the production, processing, and sales of titanium and titanium alloys, with revenue composition being 86.74% from titanium products, 8.74% from other metal products, and 4.52% from other sources [1][2]. - For the first half of 2025, Baotai reported a revenue of 2.967 billion CNY, a year-on-year decrease of 20.45%, and a net profit attributable to shareholders of 205 million CNY, down 49.00% year-on-year [2]. - The company has distributed a total of 2.523 billion CNY in dividends since its A-share listing, with 569 million CNY distributed in the last three years [3]. Group 3 - As of June 30, 2025, Baotai had 63,000 shareholders, a decrease of 2.94% from the previous period, with an average of 7,588 circulating shares per shareholder, an increase of 3.03% [2][3]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited as the second-largest shareholder, holding 13.277 million shares, a decrease of 2.022 million shares from the previous period [3].

Core Insights - The article emphasizes the strategic importance of marine titanium in addressing corrosion and structural challenges in marine engineering, shipbuilding, and seawater utilization, highlighting its role in enhancing the reliability, durability, and economic viability of marine equipment [1][7][11]. Industry Overview - Marine titanium refers specifically to titanium and titanium alloys used in marine environments and related industries, characterized by excellent corrosion resistance, high specific strength, low density, and non-magnetic properties [2][3]. - The Chinese government has prioritized the development of marine titanium, integrating "deep-sea technology" into national strategic emerging industries by 2025, which supports the large-scale application of titanium materials in deep-sea exploration, manned submersibles, and oil and gas extraction [1][7]. Industry Chain - China's marine titanium industry chain includes upstream titanium ore mining, midstream sponge titanium smelting and processing, and downstream high-end applications, with leading companies like Baotai and Western Superconducting playing significant roles [1][7][10]. - The industry is experiencing rapid growth, with the marine engineering equipment manufacturing sector projected to have a compound annual growth rate (CAGR) of 15.54% from 2022 to 2024, indicating a significant increase in titanium demand [1][10]. Current Development Status - From 2019 to 2024, China's titanium processing output is expected to grow from 75,300 tons to 172,000 tons, with sales increasing from 68,900 tons to 151,000 tons, reflecting a CAGR of 18% and 17% respectively [9][10]. - Despite the low penetration of titanium in marine engineering, projected demand for marine engineering titanium is expected to reach approximately 2,555 tons by 2024, with further growth anticipated as deep-sea exploration and development plans advance [10][13]. Future Development Trends - The marine titanium industry is expected to evolve through strategic drivers, technological breakthroughs, and expanded applications, with a focus on high-performance and low-cost dual pathways [17][18]. - The demand for marine titanium will diversify beyond traditional applications in ships and submersibles to include emerging sectors such as offshore wind power, underwater data centers, and blue energy, promoting a shift towards integrated solutions in the industry [19].

宝鸡钛业股份有限公司 2025 年第三次临时股东大会材料 二 O 二五年十月十五日 目 录 一、会议议程 二、会议议案 | 1、关于公司取消监事会、修订《公司章程》的议案……………2 | | --- | | 2、关于修订公司相关内控制度的议案…………………………27 | 宝鸡钛业股份有限公司 2025 年第三次临时股东大会材料 宝鸡钛业股份有限公司 2025 年第三次临时股东大会议程 第一项、主持人宣布会议开始，并报告会议出席情况 第二项、选举监票人 第三项、审议会议议案： 第四项、现场股东投票表决 第九项、主持人宣布会议结束 1 1、审议《关于公司取消监事会、修订<公司章程>的议案》； 2、审议《关于修订公司相关内控制度的议案》。 第五项、由监票人清点表决票并宣布现场表决结果 第六项、主持人宣读股东大会决议 第七项、由公司聘请的法律顾问宣读见证意见 第八项、与会董事签署会议决议 宝鸡钛业股份有限公司 2025 年第三次临时股东大会材料 关于公司取消监事会、修订《公司章程》 的议案 各位股东： 为进一步规范公司运作,完善公司治理，公司根据《公司法》《证券 法》《上市公司章程指引》(2025 年修订)等相关法律 ...

Group 1 - The company is convening the third extraordinary general meeting of shareholders in 2025 on October 15, 2025, at 11:00 AM [1][4] - The meeting will be held at the Baoti Hotel, located at No. 88, Gaoxin Avenue, Gaoxin District, Baoji City, Shaanxi Province [1][4] - Voting will be conducted through a combination of on-site and online methods, utilizing the Shanghai Stock Exchange's online voting system [1][2] Group 2 - The online voting will be available on the day of the meeting from 9:15 AM to 3:00 PM, with specific time slots for trading system voting [2] - Shareholders must register to attend the meeting, with registration open from October 10, 2025, at 8:00 AM to 11:30 AM and 1:30 PM to 5:00 PM [11] - The company has confirmed that there are no related shareholders that need to abstain from voting [6][12] Group 3 - The meeting will allow shareholders to appoint proxies to attend and vote on their behalf, with specific documentation required for both individual and corporate shareholders [13][15] - All voting rights must be exercised for all proposals before submission [8] - The company will not have any proposals requiring special resolutions or involving related party transactions [12]

(四)现场会议召开的日期、时间和地点 证券代码：600456 证券简称：宝钛股份 公告编号：2025-048 宝鸡钛业股份有限公司 关于召开2025年第三次临时股东大会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 召开的日期时间：2025 年 10 月 15 日 11 点 00 分 召开地点：陕西省宝鸡市高新区高新大道 88 号宝钛宾馆七楼会议室 股东大会召开日期：2025年10月15日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (一)股东大会类型和届次 2025年第三次临时股东大会 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 10 月 15 日 至2025 年 10 月 15 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召 ...