CITIC Pacific Steel Group has been actively implementing the key strategies outlined at the 2014 work conference, focusing on its core objectives and mobilizing the entire workforce to drive progress. The company's performance has remained strong, with operating results consistently leading in the industry. In the first quarter of the year, net profit saw a significant increase of 34.7% compared to the same period last year. Xingcheng Sheet achieved an EBITDA of 78.81 million, meeting 26.3% of its annual targets, showing a positive trend for the year.
Xingcheng Special Steel has made notable improvements in marketing management and market expansion. Through strategic planning and comprehensive lean management, the company enhanced its marketing strategies, R&D capabilities, production organization, and cost control. In the first quarter, sales revenue increased by 3.4%, export earnings rose by 14%, and total profits and taxes surged by 208% compared to the previous year. This success marked a strong start to the year.
The sales company focused on market-driven approaches, promoting high-end products such as bearing steels and automotive steels. Sales volumes grew significantly, especially in the localization of high-end special steel parts for Japanese cars, Ford, Volkswagen, and general-purpose vehicles. Xingcheng successfully captured market share, showing promising development momentum.
The R&D department leveraged close collaboration between production, research, and application, actively engaging with the market to identify new orders and user needs. In the first quarter, 177 new rod and wire products were developed, a 44-unit increase from the previous year. The market share and sales volume of key high-end products improved steadily, further optimizing the product structure.
The production system deepened its lean management efforts, improving contract planning, comprehensive scheduling, abnormal analysis, and emergency response. These initiatives helped enhance operational efficiency and responsiveness.
Xinye Steel experienced a surge in sales, creating a new business landscape. In the first quarter, exports reached 109,000 tons, accounting for 20.31% of total steel sales—exceeding the 20% threshold for the first time. In March, sales volume surpassed 200,000 tons for the first time, with repayments reaching their best level in recent years. Finished product inventory fell by 22,000 tons, surpassing group targets.
Major technical indicators continued to improve, with 18 key technical and economic metrics refreshed 27 times during the first quarter. Innovations in various systems, including the coke, iron, steel, and material systems, demonstrated significant progress.
Product structure adjustments yielded remarkable results. Despite a drop in market prices, Xinye Steel adjusted its product mix, increasing the production and delivery of high-end products. The average price of steel products rose by 4.75% month-on-month. High-end forging materials saw increased demand, and in March, the average sales price exceeded one million for the first time, up 10.10% year-on-year. Excellent die-cast steel production reached 8,700 tons, setting a new record. Export volumes also hit a new high.
Xin Yaxing managed both production and project construction effectively. Facing challenging market conditions, the company outperformed many of its peers through lean production and strict cost control. In the first quarter, primary coke production reached 323,000 tons, a 134.1% increase year-on-year. Sales revenue rose by 21.6%, EBITDA increased by 70.7%, and net profit jumped by 133.5%. Meanwhile, key projects progressed smoothly according to plan, with the second phase of the No. 4 coke oven and CDQ system completing its schedule. Civil engineering for the power generation project was nearly complete, with full equipment installation underway.
Taifu Special Materials focused on stabilizing production and enhancing efficiency. Through careful planning and optimization, daily output reached up to 9,500 tons, and monthly output hit 200,000 tons, entering a full-load manufacturing state. Technical research helped reduce FeO levels in pellets to below 1%, achieving a qualified rate of 98.28%. Adjustments to raw material moisture and pelletizing process parameters improved the pass rate of Australian ore finished pellets from 88.37% to 94.59%, while the screening index pass rate increased from 82.14% to 100%.
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