CNNC Titanium White's net profit in the first quarter increased year-on-year, net profit after deducting non-profit increased by 204.09% year-on-year

In the first quarter of 2024, the revenue and net profit of China Nuclear Titanium dioxide (002145) both increased compared with the same period last year.

According to the first quarterly report disclosed by the company on the evening of April 17, the company realized operating income and net profit of 1.442 billion yuan and 132 million yuan respectively in the first quarter of 2024, up 16.99% and 25.99% respectively from the same period last year. In addition, in the first quarter, nuclear titanium dioxide buckle non-net profit achieved a substantial increase of 204.09% compared with the same period last year.

That night, the company also disclosed that the 2023 annual report showed that the company's operating income during the period was 4.947 billion yuan, down 9.76 percent from the same period last year, and its net profit was 419 million yuan, down 34.84 percent from the same period last year.

In 2023, China Nuclear Titanium dioxide intends to distribute a cash dividend of 0.5 yuan (including tax) to all shareholders for every 10 shares based on the remaining 3.692 billion shares of the company's total share capital after deducting the company's repurchase of special account shares, and a total cash dividend of 185 million yuan (including tax). The cash dividend accounts for 100% of the total profit distribution and 44.05% of the company's consolidated statement net profit in 2023.

As one of the leading enterprises in the rutile titanium dioxide industry, as the basic chemical raw material, China Nuclear Titanium dioxide plans to focus on the four business sectors of "resources, chemical industry, new materials and new energy" through the strategic means of "endogenous growth and epitaxial mergers and acquisitions" in recent years. Comprehensively layout the upper and lower reaches of the industrial chain, create a green circular industrial economy, and strive to become one of the largest sulphuric acid titanium dioxide production enterprises in the world. Build a competitive production base of new energy battery materials, and complete the transformation and upgrading from a single chemical raw material manufacturing enterprise to a variety of new energy material suppliers through the horizontal and vertical integration of the industry chain.

In 2023, the company acquired phosphate concentrate mining and processing enterprises and yellow phosphorus production enterprises with mine reserves of 10 million tons, and accelerated the construction of green recycling industry economic investment projects. so far, it has formed the industry-leading capacity scale of new energy chemical materials such as titanium dioxide, phosphate rock, yellow phosphorus, iron phosphate and so on.

During the period, medium nuclear titanium dioxide and Shuangyang phosphate rock, new Tianxin chemical industry, the company added phosphate rock, yellow phosphorus, new energy materials products income sources. Among them, the operating income of titanium dioxide products is about 4.314 billion yuan, the operating income of logistics is about 456 million yuan, the operating income of phosphate rock products is about 83.2072 million yuan, the operating income of yellow phosphorus products is about 4.2357 million yuan, and the business income of new energy materials products is about 2.36 million yuan.

According to disclosure, the existing production capacity of titanium dioxide in medium nuclear titanium dioxide is nearly 550000 tons / year, with a planned production capacity of 700000 tons / year; phosphate rock has an existing production capacity of 500000 tons / year; yellow phosphorus has an existing production capacity of 30, 000 tons / year, and the yellow phosphorus technical renovation project is expected to be put into production in 2024; iron phosphate has an existing production capacity of 100000 tons / year and a planned capacity of 500000 tons / year.

2024 will be the first complete year after the completion of the acquisition of Shuangyang phosphate rock and Xintianxin chemical industry by medium nuclear titanium dioxide. The relevant person in charge of the company said that at present, benefiting from the rapid growth of new energy vehicles and energy storage scale, the growth of superimposed phosphate rock supply is limited, and the market price of phosphate rock in China remains high. At the same time, yellow phosphorus is the phosphorus source of the company's iron phosphate products. The tail gas from its production process can also be used to produce raw material carbonate for battery solution. The company's new phosphate rock and yellow phosphorus production capacity will effectively enrich the company's product structure. Bring the second growth pole to revenue and profit.