SHANGHAI, Aug 26 (SMM) - China Tungsten And Hightech Materials achieved operating income of 6.23 billion yuan in H1, up 41.88% year on year, and net profit attributable to listed shareholders was 193 million yuan, up 82.1% on the year. The company's trading income has also increased significantly year on year due to the booming output and sales.
The main business of this company includes R&D, production, sales and trading of tungsten carbide, tungsten, molybdenum, tantalum, niobium and their deep-processed products and equipment. The major categories of products include cemented carbide, blades and knives, IT tools, compounds and powders, and other products, which are widely used in auto manufacturing, CNC machine tools, aerospace, military, mold making, and IT industry processing, shipbuilding and marine engineering equipment.
It is reported that the company is the operation and management platform of the tungsten industry under Minmetals Group, which manages and operates a complete tungsten industry chain integrating mining, smelting, processing and trading. The tungsten resource reserves within the scope of management account for 13% of the total, and the annual production capacity of tungsten smelting accounts for 10% of the national APT capacity.
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