www.ferroalloynet.com: Panzhihua vanadium titanium co., LTD. (pti) disclosed its 2019 annual report on Thursday evening, saying that due to the sharp drop in the market price of vanadium products, the company’s operating revenue in 2019 was 13.159 billion yuan, down 2.03 billion yuan from the same period last year, down 13.21% year on year. The operating cost was 10.558 billion yuan, 432 million yuan less than that of the same period last year, down 3.93% year on year. Operating gross profit of 2.601 billion yuan, down 1.571 billion yuan from the same period last year, down 37.66% year on year. Net profit attributable to shareholders of listed companies reached 1.419 billion yuan, 1.671 billion yuan less than that of the previous year, down 54.08%year on year.
In 2019, the vanadium market experienced large fluctuations. For the complex and changeable market situation, the company made solid efforts to improve product quality, optimize cost control and other key works, and achieved the annual production target well. During the reporting period, the company accumulatively completed 22,000 tons of vanadium products (in terms of V2O5), a year-on-year decrease of 1.96%; 233,900 tons of titanium dioxide (including 15,600 tons of chlorinated titanium dioxide), up 2.43% year on year; 187,400 tons of titanium slag, a year-on-year decrease of 2.16%.
At present in the company’s three main product markets, panzhihua vanadium titanium is China’s largest and a complete range of vanadium products production enterprises, of which the titanium dioxide output of the top three in China. It is the largest domestic producer of acid-soluble titanium slag,of which the output and market share of acid-soluble titanium slag in 2019 ranked first in China.
As one of the key enterprises of strategic resources in panxi innovation development experimental zone, it rely on independent innovation to explore the comprehensive utilization of vanadium titanium magnetite. It has of international leading level of the vanadium titanium magnetite resource comprehensive utilization technolog. The company’s development goal is to build the most influential international vanadium product supplier, the most competitive titanium product supplier in China, and become a leader in vanadium and titanium industry development. In 2020, the company will take improving product quality as the core, further improve and strengthen the quality and safety management of key strategic products and benefit products. We will adhere to the principle of maximizing benefits and achieving synergies and high efficiency, ensure seamless and efficient coordination between supply, production, transportation and sales, further improve the production process, and strive to achieve annual operating revenue of 11.5 billion yuan.
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