CNNC Hua Yuan ends projects, reallocates funds to working capital

CNNC Hua Yuan Titanium Dioxide (SZSE:002145) announced it will terminate its "Water-Soluble Monoammonium Phosphate (Water-Soluble Fertilizer) Resource Recycling Project" and "Annual Production of 500,000 Tons of Ferrous Phosphate Project," reallocating the remaining funds to supplement working capital. Approved in 2022, these projects initially secured CNY 5,287,744,000.00 through a private placement. However, market dynamics have shifted, rendering the projects less viable. The Board made the decision on May 30, 2025.