Titanium alloy "little giant" Tiangong Co., Ltd. (834549) achieved a net profit of 104 million yuan in the first half of the year, an increase of 33.90% year-on-year.

On August 23rd, Tian Gong Corporation (834549) released its performance report for the first half of 2024. The company achieved operating income of 406,889,821.13 yuan in the first half of the year, and a net profit attributable to the shareholders of the listed company of 104,266,380.53 yuan, a year-on-year increase of 33.90%. During the reporting period, Tian Gong Corporation further improved the production process of its titanium and titanium alloy wire products, which had a positive impact on cost control and provided stable support for the increase in profit in the first half of the year. In addition, the company continued to promote the iterative update of the quality and technology of high-end titanium and titanium alloy products, and the electron beam cold hearth furnace project was successfully put into production, marking a breakthrough in the industrial layout of high-end titanium and titanium alloy products. It is understood that Tian Gong Corporation is a professional manufacturer of key strategic materials titanium and titanium alloy products in China, ranking at the forefront of the domestic private titanium alloy market. The company was established in 2010 and listed on the "New Third Board" on December 3, 2015. It is a national-level specialized, refined, and new "little giant" enterprise, a key high-tech enterprise in Jiangsu Province, and a green manufacturing enterprise. In recent years, the output and sales of titanium processing materials in China have maintained steady growth. The production volume of titanium processing materials in China was 48,600 tons in 2015 and increased to 152,800 tons in 2022, with a compound annual growth rate of 17.80%. The sales volume of titanium processing materials in China was 43,700 tons in 2015 and increased to 145,500 tons in 2022, with a compound annual growth rate of 18.75%. Currently, Tian Gong Corporation continues to expand into the fields of consumer electronics, 3D printing, biomedicine, aerospace, and other areas based on market conditions and future development trends. The titanium and titanium alloy wire produced by the company has been applied in the field of consumer electronics products. Titanium products made from processing materials such as titanium and titanium alloy plates, pipes, wires, and various metal composite materials are increasingly used in the fields of consumer electronics, 3D printing, biomedicine, etc. As the industrial cost of titanium materials gradually decreases, the market potential in the future is enormous.