On January 30, Annada, a leading company in the titanium dioxide industry, released its performance forecast for 2025. The company expects a net profit attributable to shareholders of -65 million to -103 million yuan for the full year, with a non-GAAP net profit of -53.2 million to -91.2 million yuan. Regarding the main reasons for the anticipated loss, Annada stated that during the reporting period, the continuous contraction of downstream market demand led to a significant year-on-year decline in the sales price of its core product, titanium dioxide. At the same time, the price of its main raw material, sulfuric acid, increased compared to the same period last year, further squeezing product profit margins. This resulted in a significant decline in the gross profit margin of the titanium dioxide business, ultimately dragging down the company's overall performance with a substantial year-on-year drop. Public information shows that Annada is the largest titanium dioxide producer in Anhui Province, currently with an annual production capacity of 100,000 tons of sulfuric acid-based titanium dioxide and 150,000 tons of iron phosphate. Its product portfolio covers nearly ten varieties across two major series: titanium dioxide and iron phosphate. Financial data indicates that in 2024, the company achieved total revenue of 1.887 billion yuan, with titanium dioxide business revenue accounting for 1.278 billion yuan, representing 68% of total revenue. It is understood that titanium dioxide, as a widely used fine chemical raw material, is primarily used in coatings, plastics, rubber, and other fields. Its production costs are mainly influenced by fluctuations in the prices of titanium concentrate and sulfuric acid.