Pangang Group's operating income for vanadium products up by 144.54% YOY in 2018
2019-03-26 16:08:36 [Print]
Pangang Group Vanadium & Titanium (Pangang Group) issued its annual report on the evening of March 25, 2018. According to the report, the company realized an operating income of 15.161 billion yuan, up by 5.726 billion yuan or 60.68% from the same period last year. The net profit attributable to the listed company shareholders was 3.09 billion yuan, up by 2.227 billion yuan or 257.96% from the same period last year.
Pangang Group said that the major reasons for the sharp increase in profits in 2018 were the increase in vanadium titanium products prices within the year, the great improvement of the company's production and operation control ability, the release of production lines' capacity, and the effects of economies of scale. In 2018, the company produced 22,500t of vanadium products (V2O5), down by 1.63% YOY. It produced 228,400t of titanium dioxide (including 11,000t of chloride titanium dioxide), up by 14.24% YOY, and its output of titanium slag was 191,500t, up by 19.40% YOY.
It is known that due to the promotion and application of high-strength rebar, and the development, promotion and utilization of energy storage technology of vanadium battery, the demand in vanadium market increased in 2018. The increase in vanadium prices in the whole year has promoted the improvement of the business environment of vanadium industry, and Pangang Group benefited significantly. Last year, the company realized an operating income of 8.161 billion yuan from vanadium products, up by 144.54% YOY. The gross profit rate of vanadium products reached 37.21%, up by 14.44% YOY.
Pangang Group said that the major reasons for the sharp increase in profits in 2018 were the increase in vanadium titanium products prices within the year, the great improvement of the company's production and operation control ability, the release of production lines' capacity, and the effects of economies of scale. In 2018, the company produced 22,500t of vanadium products (V2O5), down by 1.63% YOY. It produced 228,400t of titanium dioxide (including 11,000t of chloride titanium dioxide), up by 14.24% YOY, and its output of titanium slag was 191,500t, up by 19.40% YOY.
It is known that due to the promotion and application of high-strength rebar, and the development, promotion and utilization of energy storage technology of vanadium battery, the demand in vanadium market increased in 2018. The increase in vanadium prices in the whole year has promoted the improvement of the business environment of vanadium industry, and Pangang Group benefited significantly. Last year, the company realized an operating income of 8.161 billion yuan from vanadium products, up by 144.54% YOY. The gross profit rate of vanadium products reached 37.21%, up by 14.44% YOY.
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