Baoji Titanium Industry plans convertible bond issuance to fund growth

Baoji Titanium Industry Co., Ltd. plans to issue convertible corporate bonds not exceeding 350,000.00 yuan. The net proceeds will be allocated to several key projects, including the "Titanium Resource Recycling and Smelting Quality Improvement and Expansion Project" (118,223.60 yuan), the "Aerospace Grade Titanium and Titanium Alloy Intelligent Forging Production Line and Supply Chain Collaboration Construction Project" (111,907.70 yuan), the "Titanium and Titanium Alloy Near-Net-Shape Forming Production Line Construction Project" (22,547.70 yuan), and supplementing working capital (97,321.00 yuan).

The issuance aims to address increasing market demand, optimize product structure, and enhance the company's operational efficiency and competitiveness in the high-end titanium market. The company's recent three-year average distributable profit of 55,921.62 yuan is sufficient to cover one year's interest on the convertible bonds.