Zhitong Finance APP News, Panzhihua Iron and Steel Vanadium and Titanium (000629.SZ) released its 2021 performance forecast. It is expected that the annual net profit attributable to shareholders of the listed company will be 1.28 billion yuan-1.38 billion yuan, which is higher than the same period last year ( After adjustment) increase: 236.03%-262.29%. Net profit after deducting non-recurring gains and losses was 1.28 billion yuan-1.38 billion yuan, an increase of 246.40%-273.47% compared with the same period last year (after adjustment).

It is expected that the net profit attributable to shareholders of listed companies in 2021 will increase by 236.03% and 262.29% compared with the same period last year (after adjustment). The main reason is that: the company’s shareholders’ meeting will review it on September 29, 2021 The "Proposal on the Acquisition of 100% Equity and Related Transactions of Xichang Vanadium Products Technology Co., Ltd. of Panzhihua Iron and Steel Group" was passed. As of October 15, 2021, the acquisition has been fully implemented. According to the agreement signed by both parties, Xichang Vanadium Products has been included in the company's consolidated statements on October 1, 2021. According to the "Accounting Standards for Business Enterprises-No. 33 Consolidated Financial Statements" "Business mergers under the same control add subsidiaries or businesses, prepare a consolidated income statement" When the merger occurs, the revenue, expenses and profits of the subsidiary or business from the beginning of the current period of merger to the end of the reporting period should be included in the consolidated income statement instead of being included in the consolidated income statement from the date of merger, and the relevant items in the comparative statement should be adjusted at the same time." According to the regulations, the data for this reporting period includes the amount of Xichang vanadium products from the beginning of the reporting period to the end of the reporting period. The data for the same period of the previous year in 2020 will be combined with the data of Xichang vanadium products in the same caliber for comparative analysis;

During this reporting period, the company made every effort to By ensuring the connection between production and sales, both the price and sales volume of vanadium and titanium products have achieved substantial year-on-year growth; the company has strictly implemented measures to reduce costs and increase efficiency, actively digest the impact of rising purchase prices of upstream raw materials and auxiliary materials, deeply tap internal potential, and improve profitability;

According to the financial department’s review of the book value of the company’s deferred income tax assets on the balance sheet date, it is expected that sufficient taxable income will not be obtained in the future period. As of the end of this reporting period, the deferred income tax assets should be reduced by approximately 110 million yuan.