Pangang Group Vanadium Titanium Resources reports profit decline

Pangang Group Vanadium Titanium Resources (SZSE:000629) reported a FY 2024 revenue of CNY 13.21 billion, down 8.15% year-over-year from CNY 14.38 billion in 2023. Net profit attributable to shareholders plummeted by 73.03% to CNY 285.20 million, compared to CNY 1.06 billion the previous year. This decline is attributed primarily to lower vanadium product prices, despite increased production volumes of vanadium products, which rose 7.27% to 53,370 tonnes.