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The net profit of medium tungsten high-tech decreased by 9.31% in 2019 compared with the same period last year.
Apr 27,2020 08:33CST
The content below was translated by Tencent automatically for reference.

SMM4 March 27: China Tungsten Hi-Tech recently released its 2019 annual report, which shows that during the reporting period, the company realized operating income of 8.085 billion yuan, down 1.12% from the same period last year, and realized net profit of 123 million yuan for shareholders belonging to listed companies, a decrease of 9.31% over the same period last year. Net profit of 118 million yuan after deducting non-recurring profits and losses belonging to shareholders of listed companies.

It is understood that in 2019, the macroeconomic environment is weaker than expected, tungsten concentrate, APT prices have been in a state of shock and decline of more than 20%, the overall decline of the tungsten industry is obvious. In the face of these difficulties and challenges, the company has always adhered to "improving quality, stabilizing scale, adjusting structure, reducing costs, increasing vitality, protecting the ring", and actively overcome unfavorable factors such as the tightening economic situation, weak demand in downstream industries, and downward shocks in the tungsten market. efforts have opened up a new stage of the company's high-quality development.

During the reporting period, the company overcame the impact of a sharp decline in product prices, achieved the pre-control target in terms of operating income and total profit, and the company's key products such as CNC blades, micro-drills, rolls and ball teeth increased significantly; at the same time, "ploughing" Europe and other traditional overseas markets, timely adjust overseas market layout and marketing strategies, open up emerging markets, so that the company's production and sales scale to achieve counter-trend growth; In addition, through the analysis of the enterprise asset-liability structure, the overall completion of capital increase, dividend work, so that the company's capital structure is further optimized, business development is more robust.

During the reporting period, the company set up the Ministry of Science, Technology and Informatization and set up a Science and Technology Development Committee, which provided an organizational guarantee for strengthening the systematic planning and forward-looking layout of the company's scientific and technological innovation work and doing a good job in the top-level design of scientific research in the future. First, many breakthroughs have been made in new alloy products and new technologies. During the reporting period, the number of patents continued to rank first in the industry. Zhu hard Company has completed the project of "material development of high-performance PCB micro-drill bit", which has greatly improved the quality of its products. Second, progress has been made in the construction and layout of scientific research platforms. It has signed a "Industry-University-Research Cooperation Agreement on a package Plan" with Central South University to strengthen cooperation with domestic key universities and scientific research institutes in high-level personnel training, basic research, and tackling key scientific and technological problems. The innovation ability of cemented carbide state key laboratories has been steadily improved. The European cutting demonstration Service Center of Zhujiang Diamond Company has been set up in D ü sseldorf, Germany, as the bridgehead of the company's overseas technical services, which will play an important role in promoting technological progress and customer expansion in the future.

The data show that the main business of medium tungsten high-tech includes the research, development, production, sales and trade of cemented carbide, tungsten, molybdenum, tantalum, niobium and other non-ferrous metals and their deep-processed products and equipment.

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