The net profit of China Tungsten High and New limit in the first half of the year may exceed 200 million yuan in production and sales.

Today, China Tungsten Hi-Tech rose by the end of the day, with a turnover of 1.052 billion yuan. After-market data show that Shenzhen Stock Exchange bought 39.47 million yuan and sold 96.74 million yuan, while the seats of the three institutions bought a total of 122 million yuan.

Recently, China Tungsten Hi-Tech issued a semi-annual performance forecast. It is estimated that the net profit belonging to shareholders of listed companies in the first half of the year is 185 million yuan to 210 million yuan, an increase of 74.35% to 97.91% over the same period last year.

China Tungsten Hi-Tech said that in the first half of the year, with the completion and acceptance of the company's investment projects, production capacity was gradually released, and the output of superior products increased. The company grasps the market opportunity, grabs the order, realizes the prosperous production and marketing, and increases the production and sales volume and gross profit of the main products compared with the same period last year.

It is reported that the medium tungsten high-tech market is positioned as a high-tech manufacturing enterprise, which is different from the traditional resource enterprises. With a total output of more than 10000 tons of cemented carbide in 2020, the company is the largest cemented carbide producer in the world and accounts for about 30% of the total sales revenue of China's cemented carbide industry. The company is entrusted with the management of five tungsten mines and is the largest supplier of tungsten resources in the world.

Since the beginning of this year, the price of tungsten has continued to rise. Previously, China Tungsten Hi-Tech has said that the rise in tungsten prices has little impact on the company's gross profit margin in the long run. It has a relatively great impact on the products with low added value. The company has a long-term supply agreement with the upstream, market-oriented transactions to ensure that prices do not fluctuate. Second, the self-sufficiency rate is relatively high.

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