SHANGHAI, Apr 27 (SMM) - Xiamen Tungsten announced that it plans to build a new production workshop in its subordinate company,  Haijing Base of XTC New Energy, to realise the annual production capacity of 15,000 mt of lithium cathode materials. The investment amount is 471 million yuan. After the completion of the project, Haijing Base will reach an annual production capacity of 85,000 mt. On the same day, it was announced that the net profit for the first quarter of 2022 was 379 million yuan, a year-on-year increase of 23.3%.