He Furen, Chairman of Longbai Group (002601.SZ), said in his New Year's Day message in 2024 that the production and sales of titanium dioxide, its main business, will increase by 20% respectively in 2023, and strategic emerging industry projects such as new energy and titanium metals have been completed and put into operation. Longbai Green New material industry system has been initially completed.
Longbai Group's titanium dioxide production and sales growth in 2023 will accelerate compared with 2022. Previously, in 2022, the company produced 989,800 tons of titanium dioxide, a year-on-year increase of 9.71%; it sold a total of 927,700 tons of titanium dioxide, a year-on-year increase of 5.68%.
Longbai Group's main products are titanium dioxide, titanium sponge, zirconium products and lithium battery positive and negative materials. Among them, titanium dioxide production capacity is 1.51 million tons/year, and sponge titanium production capacity is 50,000 tons/year, both ranking first in the world; lithium iron phosphate production capacity is 50,000 tons/year, iron phosphate production capacity is 100,000 tons/year, and graphite cathode production capacity is 25,000 tons/year, graphitization production capacity is 50,000 tons/year.
According to its 2023 mid-year report, the company has two titanium dioxide product brands,"Xuelian Brand" and "Python Brand". It is one of the most well-known and influential brands in the global market and is sold to more than 100 countries and regions.
The company has successively acquired Sichuan Longgang Titanium Industry Co., Ltd., Yunnan Metallurgical Xinli Titanium Industry Co., Ltd., Jinchuan Group Co., Ltd. titanium plant assets, Hunan Dongfang Scandium Industry Co., Ltd., etc. At the same time, the company has successively invested in the construction of an annual output of 400,000 tons of chlorinated titanium dioxide production line, a 500,000 tons of Panxi titanium concentrate upgrading and conversion of titanium chloride slag project, an annual output of 300,000 tons of sulfur-chlorine coupled titanium materials green manufacturing project, and an annual output of 800 tons of waste acid vanadium extraction project.
Currently, the company's titanium industry base is located in five provinces and six cities including Henan, Sichuan, Hubei, Yunnan, and Gansu, and has initially formed a green industrial chain from titanium mineral mining, processing, to titanium dioxide and titanium metal manufacturing, and comprehensive utilization of derived resources.
He Furen said in an exclusive interview,"The market will still be challenging in 2024, and global demand for titanium dioxide is generally stable, but global supply continues to grow, and new production capacity will be gradually put on the market in 2024."
