Panzhihua Iron and Steel Vanadium and Titanium: The volume and price of vanadium products rose together, and the net profit in the first quarter increased by 111%-135% year-on-year.

　　Panzhihua Iron and Steel Vanadium TitaniumThe first quarter of 2022 will be released on the evening of April 7performanceAnnouncement, the company is expected to be attributable to listed companies from January to Marchshareholderofnet profit450 million to 500 million yuan, an increase of 111.26%-134.73% over the same period of the previous year (after adjustment, the same below); it is expected to achieve a net profit of 405 million to 455 million yuan after deducting non-recurring gains and losses, an increase over the same period of the previous year 180.52%-215.15%; basic earnings per share are expected to be 0.05 yuan to 0.06 yuan.

The data for the same period of the previous year (adjusted) includes the profit of Panzhihua Iron and Steel Group Xichang Vanadium Products Technology Co., Ltd. acquired by the company in 2021 for the period from January 1, 2021 to March 31, 2021.

For the reasons for changes in performance,announcementSaid that during the reporting period, the company seized the market opportunities of vanadium products, did everything possible to coordinate resources to respond to customer needs, and made every effort to connect production and sales. This efficiency increase measure actively digests the profit reduction caused by the increase in auxiliary materials and power costs, and the cost of various products is stably controlled, which promotes the improvement of profitability.

In the 2021 Annual Report,Panzhihua Iron and Steel Vanadium TitaniumIt is revealed that the company is striving to achieve in 2022Operating incomeMore than 13 billion yuan.

(Article source: ChinasecuritiesReport · China Securities Network)

Article source: China Securities Journal China Securities Network

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Original title: Panzhihua Iron and Steel Vanadium Titanium: The volume and price of vanadium products rose together, and the net profit in the first quarter increased by 111%-135% year-on-year