Anada (002136) released a record of investor relations activities on November 16, 2023. The company was surveyed by four institutions, the types of institutions are other, securities companies. The main contents of investor relations activities are as follows:
Q: can you introduce the opportunity of the communication process (the time of starting contact) in the early stage of the signing of the equity framework agreement between Wanhua and the company's shareholders? the controlling shareholder and Wanhua have already signed the equity framework agreement. What are the next steps? what is the progress of the follow-up? Wanhua tends to realize consideration payment by means of equity transfer or capital increase. How does the company's titanium dioxide and iron phosphate business work in synergy with Wanhua, such as how to cooperate with titanium dioxide and Wanhua's paint business, whether to expand channels, or Wanhua to help Anada improve its technology?
: with regard to the "Framework Agreement on Equity change" signed by Wanhua Chemical (600309) and the shareholders of the company's controlling shareholders, the company's understanding of the relevant situation is mainly based on the "notification letter" sent to the company by the controlling shareholders of the company, and the negotiations between the shareholders of the controlling shareholders and Wanhua Chemical. On November 6, 2023, the company issued the "notice on the Emergency suspension of Major matters of controlling shareholders" (announcement 2023-47), and the "announcement on the Progress and resumption of significant matters of controlling shareholders" issued on November 8, 2023 (announcement 2023-48). Two announcements disclose the relevant matters mentioned in the letter of notification. For details, please see the information disclosed by the company in the Securities Times, China Securities News and Juchao Information Network. If the company has new information from the controlling shareholders, the company will disclose the information in a timely manner on the designated official website and media. The Framework Agreement on Equity change signed by Wanhua Chemical and the shareholders of the company's controlling shareholders is only a framework agreement in principle, and the specific contents are subject to the supplementary agreement signed by the parties separately.
There is still uncertainty whether the supplementary agreement can be signed. The transaction involving the transfer of state-owned shares still needs to obtain the approval of relevant government departments and perform the procedures such as the transfer of state-owned assets, and there is still some uncertainty whether it can be approved. Investors are respectfully invited to pay attention to investment risks.
asked: have there been any changes in the operation of the company and the support of shareholders to the company before and after the mixed reform of state-owned enterprises in the early stage of bronzing?
: Tonghua Group, the controlling shareholder of the company, has a relatively perfect industrial chain system and has multiple advantages such as collectivized talents, technology, resources and information. Tonghua Group has always given comprehensive and positive support to the development of the company.
Q: what kind of help does Wanhua think Wanhua can provide for its business?
: the company noted that on November 8, 2023, Wanhua Chemical disclosed in Article 2 of item 4 (effect of this Framework Agreement on Wanhua Chemical) that "titanium dioxide of Copper Chemical Group is among the top 10 in the industry, and this business has complementary and synergistic effects with Wanhua Chemical's existing coating business." The company also agrees.
asked: are there any new customers for iron phosphate products?
: the company continues to strengthen the development of ferric phosphate market. Since the beginning of this year, ferric phosphate market sales have made certain achievements, and the resources of customers and potential customers have increased to a certain extent, including a number of influential customers in China's new energy market.
Q: what is the ratio of direct sales to distribution of iron phosphate?
: the company's iron phosphate product sales model is all direct sales mode, there is no distribution mode.
asked: is the company's current production capacity of titanium dioxide 80, 000 tons or 130000 tons, and what is the production capacity of rutile and anatase titanium dioxide?
: the annual production capacity of titanium dioxide pre-treatment process is 80, 000 tons, and that of post-treatment process is 100000 tons. At present, the company's production line is mainly rutile titanium dioxide production capacity.
Q: how to consider the layout of titanium concentrate for upstream raw materials?
: the company pays close attention to the resources related to the upstream raw material titanium concentrate. If the follow-up company has a new project development layout, the company will fulfill its information disclosure obligations in accordance with the relevant regulations.
asked: what are the downstream customers of the company's iron phosphate?
: the downstream customers of the company's iron phosphate products are mainly enterprise customers who produce new energy cathode materials.
asked: the overseas market of titanium dioxide products and the export of titanium dioxide of the company?
: according to the statistics of the first three quarters of the national customs, China's total export of titanium dioxide from January to September in 2023 was about 1.2546 million tons, an increase of 16.94 percent over the same period last year. The export market continued to improve, and the export volume further increased. The main export regions of the company's titanium dioxide products are India, Thailand, Turkey, the United Arab Emirates, Italy, Spain, Brazil, Chile, Thailand and other countries and regions; from January to October 2023, the company's foreign trade business accounted for 29% of the total sales. The company will further strengthen the development of the international market, provide products to meet the diversified needs of international customers, and increase the proportion of the company's export.
asked: what is the current sales of titanium dioxide in the first three quarters of the company?
: the company's sales of titanium dioxide products increased slightly in the first three quarters compared with the same period last year, and titanium dioxide sales increased by 3.2% compared with the same period last year.
Q: what is the current cost of sodium ferric phosphate method, ammonium method and iron method?
: the cost of different processes of iron phosphate is different from the production process of different enterprises, the cost of raw materials, the level of management and control of production and other factors, which need to be analyzed according to the specific situation.
Q: what is the development strategy of the company's follow-up business?
: the company will continue to optimize the product structure and market layout, steadily implement the titanium dioxide industry development plan, and constantly expand the application of iron phosphate products in the field of new energy materials; close to China's two foreign markets, give full play to the geographical advantages of producing areas, and strive to increase product production capacity, expand market share, and enhance economies of scale and business quality. At the same time of continuous development, the company practices the concept of low-carbon economy and sustainable development, implements the development strategy of energy saving and consumption reduction, builds an environment-friendly and resource-saving enterprise, and promotes the sustained, healthy and high-quality development of the company's business.
