Panzhihua Iron and Steel Vanadium Titanium's net profit after non-deduction in 2021 is expected to increase by more than 3 times year-on-year, and profitability has steadily improved

Panzhihua Iron and Steel Vanadium and Titanium (000629) issued a correction announcement on the performance forecast, saying that after considering the relevant profit and loss adjustment factors of Xichang Vanadium Products Company before the acquisition, the company's corrected net profit attributable to the parent in 2021 is expected to be 1.
28 billion yuan to 1.
38 billion yuan, a year-on-year increase 236.
03% to 262.
29%; net profit after non-deduction was 950 million yuan to 1.
05 billion yuan, a year-on-year increase of 343.
74% to 390.
45%
.

In fact, since last year, the price of Panzhihua Iron & Steel's core products of vanadium and titanium has been stable, and its profitability has steadily improved
.
In the first three quarters of 2021, the company's net sales margins reached 5.
30%, 10.
79%, and 8.
12%, respectively, with a steady increase in profitability
.
Its operating income in the first three quarters of last year was 10.
949 billion yuan, a year-on-year increase of 39.
98%; the net profit attributable to shareholders of listed companies was 782 million yuan, a year-on-year increase of 311.
49%
.

  The company completed the acquisition of 100% equity of Xichang Vanadium Products Company last year, further consolidating its market share of vanadium products
.
In addition, the company has a strong production capacity of titanium dioxide, including the production capacity of 220,000 tons/year of titanium dioxide by sulfuric acid method and 15,000 tons/year of titanium dioxide by chloride method
.