Pangang Group Vanadium & Titanium Resources Co (629) investor relations material

Executive summary

• Revenue for the half-year was ¥4.25 billion, down 40.57% year-over-year.

• Net loss attributable to shareholders was ¥199 million, compared to a net profit of ¥137 million in the same period last year.

• No cash dividend, bonus shares, or capital reserve transfer to share capital was proposed for the period.

Financial highlights

• Operating cash flow was negative ¥2.84 million, a decrease of 100.74% year-over-year.

• Basic and diluted EPS were both -0.0215, down 239.61% year-over-year.

• Weighted average ROE was -1.62%, compared to 1.12% last year.

• Total assets at period end were ¥14.73 billion, down 0.74% from year-end.

• Net assets attributable to shareholders were ¥12.31 billion, down 1.27% from year-end.

Significant events and developments

• 91.19 million restricted shares held by Ansteel Group became tradable on Jan 20, 2025, representing 0.98% of total share capital.

• Changes in board and management: new chairman and general manager appointed, with legal representative updated.

• 3.98 million restricted shares under the 2021 incentive plan became tradable; 4.02 million shares were repurchased and cancelled due to unmet performance conditions.

• Controlling shareholder Pansteel Group initiated a share purchase plan, acquiring 18.76 million shares (0.20% of total capital) by July 21, 2025.

• Company initiated a share buyback for equity incentives, with 7.4 million shares repurchased by July 31, 2025.

• Board and governance structure adjusted: 10th board elected, supervisory board removed.