Xiamen Tungsten's net profit up by 562% YOY in H1 2017
2017-08-01 17:22:06 [Print]
On the night of July 28, Xiamen Tungsten Co., Ltd. (“Xiamen Tungsten” or the “Company”) announced that in the first half of 2017, its operation revenue totaled RMB6.18 billion, up by 76.62% YOY, and its net profit attributable to shareholders of the listed company amounted to RMB45,304.47, up by 562.12% YOY.
The Company stated that its subordinate tungsten mines saw an improvement in their profitability as a result of the rising tungsten concentrate prices during the reporting period; higher profit margins were obtained from the sales of lithium battery material due to low prices of cobalt stocks, higher sales volumes and rising product prices. In addition, profit margins improved on higher prices of rare earth products.
Xiamen Tungsten is the largest producer and exporter of tungsten and molybdenum and also one of the six rare earth group in China. The Company is mainly engaged in the investment in tungsten and rare earth, smelting and processing of tungsten and non-ferrous metals, production and sales of tungsten alloys, tungsten deep-processing products and rare earth metals, R&D of manufacturing, analysis and detection technologies of tungsten power, cemented carbide, precision cutting tools, tungsten-molybdenum wire, new energy materials and rare earth metals, as well as real estate development and management.
The Company stated that its subordinate tungsten mines saw an improvement in their profitability as a result of the rising tungsten concentrate prices during the reporting period; higher profit margins were obtained from the sales of lithium battery material due to low prices of cobalt stocks, higher sales volumes and rising product prices. In addition, profit margins improved on higher prices of rare earth products.
Xiamen Tungsten is the largest producer and exporter of tungsten and molybdenum and also one of the six rare earth group in China. The Company is mainly engaged in the investment in tungsten and rare earth, smelting and processing of tungsten and non-ferrous metals, production and sales of tungsten alloys, tungsten deep-processing products and rare earth metals, R&D of manufacturing, analysis and detection technologies of tungsten power, cemented carbide, precision cutting tools, tungsten-molybdenum wire, new energy materials and rare earth metals, as well as real estate development and management.
Tungsten Carbide 99.8%min 2.5-7.0μm FOB China
Unit:USD/kg
China tungsten carbide producers' sales to production ratio statistics by province by month
Unit: %
