Xiamen Tungsten reports strong growth across core businesses
2026-04-24 15:56:15 [Print]
Xiamen Tungsten Co., Ltd. reported robust performance in its latest annual results, with consolidated revenue reaching RMB46.27 billion (USD6.78 billion) in 2025, up 30.79% year-on-year. Revenue and profit from its core segments, including tungsten-molybdenum, energy new materials, and rare earths, all recorded solid growth.
The tungsten-molybdenum segment generated RMB20.15 billion (USD2.95 billion) in revenue, rising 18.14% YoY. Leveraging its fully integrated tungsten value chain, the company effectively navigated rising raw material costs. Deep-processed products such as cemented carbides and cutting tools delivered both volume and profit growth, while fine tungsten wire for photovoltaic applications continued to gain market share. Products including ammonium molybdate and molybdenum powder maintained leading global market positions.
The rare earths segment posted revenue of RMB6.18 billion (USD905 million), up 31.16% YoY. Sales of downstream magnetic materials reached 11,300 tonnes, increasing 27% YoY, with revenue surging 41% YoY.
The energy new materials business recorded revenue of RMB19.88 billion (USD2.91 billion), up 46.70% YoY. Cobalt lithium oxide (LCO) sales reached 65,300 tonnes, up 41.31% YoY, maintaining a leading market position. Shipments of power battery cathode materials, including ternary materials, lithium iron phosphate (LFP), and others, totaled 77,400 tonnes, up 47.83% YoY. LFP products achieved stable large-scale supply, with sales volume surging 2,171% YoY.
The tungsten-molybdenum segment generated RMB20.15 billion (USD2.95 billion) in revenue, rising 18.14% YoY. Leveraging its fully integrated tungsten value chain, the company effectively navigated rising raw material costs. Deep-processed products such as cemented carbides and cutting tools delivered both volume and profit growth, while fine tungsten wire for photovoltaic applications continued to gain market share. Products including ammonium molybdate and molybdenum powder maintained leading global market positions.
The rare earths segment posted revenue of RMB6.18 billion (USD905 million), up 31.16% YoY. Sales of downstream magnetic materials reached 11,300 tonnes, increasing 27% YoY, with revenue surging 41% YoY.
The energy new materials business recorded revenue of RMB19.88 billion (USD2.91 billion), up 46.70% YoY. Cobalt lithium oxide (LCO) sales reached 65,300 tonnes, up 41.31% YoY, maintaining a leading market position. Shipments of power battery cathode materials, including ternary materials, lithium iron phosphate (LFP), and others, totaled 77,400 tonnes, up 47.83% YoY. LFP products achieved stable large-scale supply, with sales volume surging 2,171% YoY.
Thorium Tungsten Electrode ThO2 1.7-2.2% EXW China
Unit:RMB/kg
China tungsten carbide producers' inventory to production ratio statistics by province by month
Unit: %
