Zhuoyue Vanadium achieves net profit of 149 million yuan in 2018
2019-04-09 17:33:03 [Print]
Panzhihua Zhuoyue Vanadium Industry Technology Co., Ltd. disclosed on April 2 that its operating revenue in 2018 reached 490 million yuan, up by 80.91% YOY. Net profit reached 149 million yuan, up by 329.22% YOY. According to its 2018 annual equity distribution plan, the company plans to pay a cash dividend of RMB8.30 Inc-VAT for every 10 shares to all shareholders.
Zhuoyue Vanadium, a producer of nonferrous metal smelting and rolling industry, provides vanadium pentoxide and relevant services for Pangang Group Vanadium, Pangang Group Xichang Steel & Vanadium and other major domestic vanadium products manufacturers.
In 2018, the overall prices for vanadium products remained high. Due to the favorable market and substantial release of the capacity, the profitability of Zhuoyue Vanadium hit the record high.
In 2018, the large increase in steel mills' demand for vanadium nitride resulted in the tight supply of its raw material, vanadium pentoxide. The price for vanadium products rose to the highest level of RMB509,000/t (USD75,802/t) Inc-VAT in October 2018 from RMB175,000/t (USD26,061/t) in early 2018.
In view of the continuous rise in vanadium products price, Zhuoyue Vanadium produced 7,164t of vanadium pentoxide in 2018 by optimizing access to resources, improving process control and performance appraisal system, up by 70.82% YOY.
Zhuoyue Vanadium, a producer of nonferrous metal smelting and rolling industry, provides vanadium pentoxide and relevant services for Pangang Group Vanadium, Pangang Group Xichang Steel & Vanadium and other major domestic vanadium products manufacturers.
In 2018, the overall prices for vanadium products remained high. Due to the favorable market and substantial release of the capacity, the profitability of Zhuoyue Vanadium hit the record high.
In 2018, the large increase in steel mills' demand for vanadium nitride resulted in the tight supply of its raw material, vanadium pentoxide. The price for vanadium products rose to the highest level of RMB509,000/t (USD75,802/t) Inc-VAT in October 2018 from RMB175,000/t (USD26,061/t) in early 2018.
In view of the continuous rise in vanadium products price, Zhuoyue Vanadium produced 7,164t of vanadium pentoxide in 2018 by optimizing access to resources, improving process control and performance appraisal system, up by 70.82% YOY.
Vanadium Nitride N 14%min EXW China
Unit:RMB/mt
China vanadium nitride producers' inventory to production ratio statistics by province by month
Unit: %
