Sichuan Province-based Chinese steelmaker Pangang Group has announced that its subsidiary Steel Vanadium & Titanium Co. is expected to record a net profit of RMB 500-550 million ($79.19-87.11 million) for the first quarter of the current year, up 322-364 percent year on year. Earnings per share are expected to be in the range of RMB 0.09-0.10 ($0.0143-0.0158).
In the same period last year, the net profit of Steel Vanadium & Titanium Co. totaled RMB 118.55 million ($18.78 million).