China Tungsten Hi-Tech achieved operating income of 6.23 billion yuan in the first half of the year, an increase of 41.88% over the same period last year, and the net profit attributable to listed shareholders was 193 million yuan, an increase of 82.1% over the same period last year. Due to the booming production and sales of the company's main products, a substantial increase in business revenue, and a substantial increase in the company's trade revenue compared with the same period last year.
The company's main business includes the research, development, production, sales and trade of tungsten cemented carbide and tungsten, molybdenum, tantalum, niobium and other non-ferrous metals and their deep-processed products and equipment. The company's products can be divided into cemented carbide, blades and cutting tools, IT tools, compounds and powders and other products, which are widely used in automotive manufacturing, CNC machine tools, aerospace, military, mechanical mold processing, IT industrial processing, shipbuilding, marine engineering equipment and other manufacturing and processing fields.
It is reported that the company is the operation and management platform of tungsten industry under China Minmetals Group Co., Ltd., which manages and operates a complete tungsten industry chain integrating mining, smelting, processing and trade. Tungsten reserves within the scope of management account for 13% of the country's total reserves, tungsten smelting annual production capacity accounts for 10% of the national APT production capacity, and has a strong raw material guarantee capacity.
