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[SMM News] Zhangyuan Tungsten Industry jumped short and opened higher yesterday, its share price hit a new high in nearly a month.
Sep 11,2020 09:36CST
translation
Source:SMM
The content below was translated by Tencent automatically for reference.

SMM9 March 11 News: yesterday afternoon, the small metal plate changed, in which Zhangyuan tungsten industry rose by the daily limit, and the stock price reached a new intraday high in nearly a month. As of the close, it was reported at 5.35 yuan per share. Xiamen tungsten industry, medium tungsten high-tech, Xianglu tungsten industry have followed up. Today, the stock jumped short and opened high at 5.56 yuan per share. As of 9Drex 35, the stock was at 5.49 yuan per share, an increase of 2.63%.

A few days ago, Zhangyuan Tungsten Industry issued a progress announcement on share buybacks. It is reported that the company did not buy back shares from August 1 to August 31, 2020. As of August 31, 2020, the company has accumulated 3941400 shares through the buyback special securities account, accounting for 0.43% of the company's total share capital, of which the highest transaction price is 4.86 yuan per share and the lowest transaction price is 4.03 yuan per share. the total transaction amount is 16679249 yuan (including transaction fees).

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In the first half of the year, Zhangyuan tungsten industry achieved operating income of 808 million yuan, down 5.74% from the same period last year; operating profit was-61.5807 million yuan, up 155.25% from the same period last year; and net profit belonging to shareholders of listed companies was-61.6096 million yuan, up 106.49% from the same period last year.

In the first half of the year, under the influence of novel coronavirus's epidemic situation and depressed market demand, China's tungsten industry showed an overall downward trend, with product market prices declining compared with the same period last year. The average price of tungsten concentrate (WO3 ≥ 65%) was 84300 yuan / ton, down 8.67% from the same period last year. Market prices of tungsten concentrate, tungsten smelting products and deeply processed products all decreased to varying degrees.

In the first half of 2020, affected by the COVID-19 epidemic, the global economy declined sharply, the market demand of tungsten industry was weak, and the market price of tungsten products fell. Although the domestic epidemic situation was well controlled in the second quarter, the company's export business was affected by the outbreak abroad, resulting in a decline in operating income in the reporting period compared with the same period last year.

This week, Zhangyuan Tungsten Industry announced its long order quotation in the first half of September, in which wolframite concentrate (WO3 ≥ 55%) was quoted at 86500 yuan / standard ton, which was 4500 yuan / standard ton higher than that in the previous period (the second half of August), while scheelite concentrate (WO3 ≥ 55%) was reported at 85000 yuan / standard ton, an increase of 4500 yuan / standard ton compared with the previous period. Ammonium paratungstate (national standard zero) was 131000 yuan / ton, an increase of 5000 yuan / ton compared with the previous period.

According to SMM, the price of tungsten series products has been rising since July this year, starting from the tungsten concentrate at the raw material end, and gradually transmitted to the downstream powder, tungsten carbide, ammonium paratungstate (APT) and other products, realizing the improvement of the overall price level of the whole industry chain.

Related readings:

[SMM Analysis] is the rising consumption of tungsten products by many enterprises an internal driving force this month?

Xiamen tungsten industry received a government subsidy of 35.7263 million yuan

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