【China Tungsten & Rare Earth Industry Group: Prices of Raw and Auxiliary Materials Continue to Rise, with a Year-on-Year Decline of 9.36% in Net Profit Attributable to Shareholders in 2023】China Tungsten & Rare Earth Industry Group announced on April 26th that its revenue in 2023 reached 12.736 billion yuan, a year-on-year decrease of 2.63%; net profit attributable to shareholders was 485 million yuan, a year-on-year decrease of 9.36%; and basic earnings per share were 0.35 yuan. The company proposed to distribute a cash dividend of 1.3 yuan per 10 shares to all shareholders. During the reporting period, the company's carbide product output was approximately 14,000 tons. Due to intensified industry competition and rising prices of raw and auxiliary materials, the company's profitability was squeezed by dual factors, resulting in narrowing profit margins. On the same day, the company also announced that its revenue in the first quarter of 2024 was 2.967 billion yuan, a year-on-year decrease of 2.95%; net profit attributable to shareholders was 63.8533 million yuan, a year-on-year decrease of 35.97%; and basic earnings per share were 0.05 yuan.