Pangang (SZ:000629)2023-04-12 11:32Group 1: Production and Financial Performance - In 2022, the company produced 46,900 tons of vanadium products (measured as V2O5), an increase of 8.25% year-on-year [3] - The company achieved an operating revenue of 15.088 billion CNY in 2022, a year-on-year increase of 7.31% [3] - The net profit attributable to shareholders was 1.344 billion CNY, up 1.24% year-on-year, while the net profit excluding non-recurring gains and losses was 1.297 billion CNY, an increase of 29.58% [3] Group 2: Strategic Partnerships and Collaborations - In September 2021, the company signed a strategic cooperation agreement with Dalian Rongke, focusing on product and service collaboration, market expansion, and technology cooperation [3] - A tripartite strategic cooperation agreement was signed in October 2022 with Guodian Investment Southwest Institute and Dalian Rongke to enhance key technology applications in the all-vanadium flow battery storage industry [4] - In February 2023, a strategic cooperation framework agreement was signed with the Panzhihua Municipal Government and Dalian Rongke to enhance the vanadium industry’s leading capabilities [4] Group 3: Product Applications and Market Outlook - Approximately 5,000 tons of vanadium products were directly applied in the energy storage sector in 2022, with an expected increase to around 8,000 tons in 2023, representing nearly 20% of the company's total vanadium product applications [4] - The company is actively tracking market demand and developing production and sales plans to ensure healthy and stable market development for vanadium products [4] - The all-vanadium flow battery is highlighted for its advantages such as high power, large capacity, long lifespan, and safety, making it suitable for large-scale long-duration energy storage [5] Group 4: Production Capacity and Technological Development - The company is currently constructing a 60,000 tons/year molten salt chlorination titanium dioxide project, which is based on proprietary technology for efficient utilization of low-grade titanium resources [4] - The main vanadium extraction process is stable, and the company is focusing on improving vanadium yield through technological innovation [4] - The company’s chlorination technology for titanium dioxide production is fully self-developed and has achieved long-term stable production [5]