The net profit of Xiamen tungsten industry increased by 193% in the first half compared with the same period last year, and the profits of new energy materials and rare earths business improved significantly.

Xiamen tungsten industry released results KuaiBao showed that in the first half of the year, the net profit belonging to shareholders of listed companies was 684 million yuan, an increase of 193.03 percent over the same period last year; operating income was 14.223 billion yuan, up 79.48 percent over the same period last year; and basic earnings per share was 0.4865 yuan. During the reporting period, the volume and prices of the main products of the company's tungsten and molybdenum, new energy materials and rare earth business rose, and the profitability improved significantly compared with the same period last year.

Tungsten and molybdenum business: the price of tungsten and molybdenum products continued to pick up in the first half of the year, and the sales volume increased significantly, and the product profitability further improved. The company's tungsten and molybdenum and other non-ferrous metals business achieved an operating income of 5.121 billion yuan, an increase of 49.54% over the same period last year. The total profit was 784 million yuan, an increase of 92.85

In terms of energy new materials business: in the first half of 2021, sales of lithium cobalt products continued to improve; ternary materials were affected by the increase in terminal demand, sales increased significantly compared with the same period last year, and the scale effect was further revealed. The company's business of new energy battery materials (including lithium cathode materials and hydrogen storage alloys) achieved an operating income of 6.718 billion yuan, an increase of 112.94% over the same period last year, and a total profit of 291 million yuan, an increase of 208.41% over the same period last year.

In terms of rare earth business: in the first half of 2021, the profitability of rare earth products improved due to the rising prices of rare earths, the growth of product sales and the optimization of product structure. The company's rare earth business realized operating income of 2.298 billion yuan, an increase of 79.58% over the same period last year, and total profits of 80.2099 million yuan, an increase of 127.86% over the same period last year.

Real estate business: in the first half of 2021, the operating income of the real estate business reached 85 million yuan, an increase of 30.95% over the same period last year; the total profit was-63.3108 million yuan, basically the same as the same period last year.