Recently, Xiamen tungsten industry released the first quarter results report of 2021. According to the report, the operating income was 6.2975 billion yuan, an increase of 78.11% over the same period last year, and the net profit was 308 million yuan, an increase of 327.5% over the same period last year.
(1) Tungsten and molybdenum business. In the first quarter of 2021, the prices of tungsten and molybdenum products continued to pick up, and sales increased significantly. The company's tungsten and molybdenum and other non-ferrous metals business achieved an operating income of 2.357 billion yuan, an increase of 62.76 percent over the same period last year, and a total profit of 348 million yuan, an increase of 109.09 percent.
(2) battery materials. Sales of lithium cobalt products continue to improve in the first quarter of 2021; ternary materials are subject to increased terminal demand
The impact of sales has increased significantly compared with that of the previous year. The company's business of new energy battery materials (including lithium cathode materials and hydrogen storage alloys) achieved an operating income of 2.974 billion yuan, an increase of 100.74% over the same period last year, and a total profit of 136 million yuan, an increase of 298.97% over the same period last year.
(3) rare earth business. In the first quarter of 2021, under the influence of rising prices of rare earth products and increased sales, the company's rare earth business achieved an operating income of 926 million yuan, an increase of 61.92% over the same period last year, and a total profit of 49.5681 million yuan, an increase of 54.575 million yuan over the same period last year.
(4) Real estate business. In the first quarter of 2021, the real estate business achieved an operating income of 41 million yuan, an increase of 19.09% over the same period last year, and a total profit of-13.966 million yuan, a loss reduction of 6.6716 million yuan over the same period last year.
Note: during the reporting period, the company invested in the motor business of the rare earth industry chain one after another, and some products were produced and sold in small batches, in order to better reflect the operation of various business sectors of the company, adjust the start-up motor business from tungsten, molybdenum and other non-ferrous metals business plate to rare earth business plate, and adjust the comparative data of the same period last year.
