China Tungsten and Hightech: Tungsten Price Rising, Net Profit Expected to Increase 4 Times

SHANGHAI, Oct. 12 (SMM)－China Tungsten and Hightech Materials Co (SZSE:000657) released performance projection during 11^th night, saying the estimated net profit during first three quarters will reach 100-130 million yuan, increasing 353%-489% compared with same period of last year. Thereinto, net profit of the third quarter is 41.34-71.34 million yuan, rising 142%-318%. During the report period, influenced by global economic recovery and rise of tungsten price, demand of main products of this company is enlarged.  

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