Glonghui, August 25 | Huatai Securities Research Report pointed out that Baotai Co., Ltd. (600456.SH) 23H1 achieved net profit of 381 million yuan. Costs fell due to falling titanium sponge prices, 23Q2 performance improved month-on-month, and maintained a “buy” rating. The company is the largest specialized rare metal production research base in China, mainly titanium and titanium alloys. The annual output of titanium, the leading product, ranks among the highest among similar enterprises in the world. 23H1 achieved production and sales volume of 1.69 and 16,700 tons of titanium products, respectively, with a year-on-year increase of 4.03 and 3.70%. According to reports, the company's fund-raising project is scheduled to be completed and put into operation in 23Q4 in February '21. The company focuses on research and development and actively adjusts the variety structure. The company will focus on increasing the application ratio of the company's products in aviation, aerospace, ships, weapons, deep sea, etc., further optimize product restructuring, and increase the market share of high-end titanium.