Vice Minister Liao: CNY 2.4 Trillion in Special Bonds Issued by July, Backing 18,000 Projects

In H1 2026, despite the steel industry being under pressure overall, Fangda Special Steel achieved revenue of 8.033 billion yuan and net profit attributable to shareholders of 208 million yuan, holding its operational foundation. From the perspective of its industrial base, Sichuan Fangda Vanadium-Titanium's blast furnace maintains a stable 70% ratio of vanadium-titanium magnetite ore in its charge, with vanadium content in hot metal consistently maintained at 0.35%–0.37%, placing it firmly in the first tier of China's vanadium-titanium smelting industry. Currently, Fangda's vanadium product capacity totals 30,000 mt/year (calculated as vanadium pentoxide), ranking third globally, with a Chinese market share of approximately 25% and accounting for over 13% of total global production.

In January-September this year, cumulative sales of China's heavy-duty truck industry reached approximately 926,000 units, up about 13% YoY, with the cumulative growth rate further slowing down. The MoM increase in wholesale sales of the heavy-duty truck market in September was mainly due to seasonal changes, as transport demand improved compared with the off-season months of July-August, leading to a certain MoM increase in car purchase demand. However, the YoY decline stemmed from the interplay of multiple unfavourable factors: sluggish domestic freight demand, falling freight rates, overdrawn demand due to policies and regulations, industry destocking, a high sales base in the same period last year, and rising oil and gas prices.