Date: Mar 26, 2019
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.
