CNNC Titanium Dioxide (002145) issued an announcement on the postponement of some raised funds to invest in projects. The company has decided to extend the dates of reaching the predetermined serviceability status of the "Water-soluble Monoammonium Phosphate (Water-soluble Fertilizer) Resource Recycling Project" and the "Iron Phosphate Project with an Annual Output of 500,000 tons" among the investment projects raised from non-public offering of shares in 2021. year. The availability dates originally scheduled for December 31, 2024 and November 30, 2024 are now extended to December 31, 2025 and November 30, 2025 respectively.
The reason for this delay is that during the actual implementation of the project, the design needs to be optimized according to downstream market needs to ensure the expected completion and use results. The company believes that this extension will not have a material impact on the implementation of investment projects with raised funds, nor will it change the direction of raised funds or harm the interests of shareholders, which is in line with the company's long-term development plan. As of October 31, 2024, the progress of the use of raised funds shows that the overall project's fund utilization rate is 65.03%.
In the first three quarters of 2024, CNNC Titanium White achieved revenue of 5.149 billion yuan and net profit attributable to the parent company of 448 million yuan.
