Pangang Group Vanadium Titanium & Resources Co Ltd

Vanadium Titanium Resources released its 2026 interim report, with net profit attributable to the parent company of 221 million yuan, an increase of 421 million yuan compared with the same period last year, turning losses into gains year on year. The company's total operating revenue was 4.996 billion yuan, up 17.45 percent year on year. Net cash inflow from operating activities was 275 million yuan, an increase of 278 million yuan year on year. The company's latest gross margin was 11.37 percent, rising for five consecutive quarters and up 6.45 percentage points from the same period last year. The latest return on equity was 1.76 percent, up 3.38 percentage points year on year. Diluted earnings per share were 0.02 yuan, an increase of 0.05 yuan year on year.

On the evening of August 23, multiple A-share companies released impressive first-half reports, with earnings doubling or even growing several times over. Wankai New Materials achieved first-half operating revenue of 9.652 billion yuan, up 17.52 percent year on year, and net profit attributable to shareholders of 562 million yuan, surging 910.09 percent. China Tungsten and Hightech Materials posted first-half operating revenue of 16.385 billion yuan, up 108.51 percent, with net profit attributable to shareholders of 2.076 billion yuan, rising 280.53 percent. Yuegui Co. reported first-half operating revenue of 2.343 billion yuan, up 72.37 percent, and net profit attributable to shareholders of 663 million yuan, up 182.76 percent. In addition, Vanadium Titanium Resources and Zhiguang Electric successfully turned losses into profits, while net profit at Shangfeng Materials, Oriental Energy, and Dymatic Chemicals more than doubled. As of the evening of August 23, more than 1,700 A-share companies had completed their first-half report disclosures, with 60 percent reporting year-on-year net profit growth and 18.8 percent achieving a doubling of net profit.

Vanadium Titanium Shares disclosed its earnings forecast, expecting net profit attributable to the parent company of 200 million to 240 million yuan in the first half of 2026, compared with a loss of 199 million yuan in the same period last year, achieving a year-on-year turnaround. Deducted non-recurring profit is expected to be 188 million to 228 million yuan, compared with a loss of 201 million yuan a year earlier. Basic earnings per share are expected to be 0.0216 to 0.0259 yuan. The company said the profit growth was mainly due to a year-on-year increase in vanadium product prices during the reporting period. The company seized market opportunities to coordinate production and sales, and promoted cost reduction and efficiency improvement, leading to a year-on-year decline in the cost of major products.