Demand For New Energy Has Soared! Xiamen Tungurahua Has Launched Three Strategies Simultaneously, Achieving A 11.75% Increase in Revenue in The First Half Of The Year.

Recently, Xiamen Tungsten Industry released its semi-annual performance report for 2025. During the reporting period, the company achieved a revenue of 19.178 billion yuan, an increase of 11.75% compared to the same period last year, demonstrating strong market expansion capabilities. The net profit attributable to shareholders of the listed company was 972 million yuan, a slight decrease of 4.41% compared to the previous year. The company stated that the fluctuation in profit总额 was mainly influenced by the reduction in non-recurring gains and the adjustment of tax policies. If the relevant special factors are excluded, the actual profit level of the core business has shown a stable and improving trend. Specifically, the three main businesses of Xiamen Tungsten Industry all achieved growth during the reporting period. In the tungsten-molybdenum business, the demand for high-value-added products such as high-end cutting tools and tungsten wires for photovoltaic applications continued to increase, driving the sales of hard alloys and cutting tools, with the revenue of this sector increasing by approximately 9%. In the rare earth business, the orders for magnetic materials in fields such as new energy vehicles and industrial motors increased, and the revenue of this sector increased by 14%, with high-performance neodymium iron boron products accounting for over 60%. In the new energy materials business, the company benefited from the stable position of cobalt oxide cathode materials in the consumer electronics market and the successful expansion of new customers in the battery field, with a year-on-year increase of 18% in the revenue of this sector. In terms of the profit side, the company's net profit decreased by 4.41% compared to the previous year. The main reasons for this include： in the first half of 2024, through the disposal of Chengdu Tengwangge real estate, property equity, and Jinlong rare earth smelting and separation business, an investment income of 192 million yuan was confirmed, while there were no such one-time gains in the same period of 2025; in addition, the Luoyang Yuluo, an affiliated mining company, paid 0.63 billion yuan in resource tax for the comprehensive recovery and utilization of tailings resources, further reducing the short-term profit space. If the above special factors are excluded, the company's total profit increased by 3.58% and its net profit increased by 7.70%, reflecting a substantive improvement in the profitability of its core business. Facing industry cyclical fluctuations, Xiamen Tungsten Industry has continued to implement the "strengthen the main business, improve quality" strategy. In the first half of 2025, the R&D expenses increased by 15%, with a focus on high-value-added fields such as ultra-fine crystal hard alloys and low-amount rare earth magnetic materials, through technological drive for product upgrading. At the same time, the company strengthened its control over tungsten mine resources, deepened cooperation with leading enterprises in new energy and semiconductors, improved supply chain stability, and accelerated overseas market expansion. The overseas sales revenue accounted for 35%, with a focus on breaking through the European wind power and Southeast Asian consumer electronics markets, to diversify regional risks. Institutional analysis pointed out that the global energy transition brings long-term opportunities for Xiamen Tungsten Industry's core business. The growth in the installed capacity of new energy vehicles and wind power will drive the demand for neodymium iron boron magnetic materials, with a compound annual growth rate of over 20% expected from 2025 to 2030; the demand for cobalt oxide in 5G and AI terminal applications is stable, and the use of tri-nuclear materials in the battery field has successfully expanded new customers, with a 18% year-on-year increase in the revenue of this sector. The company stated that in the second half of the year, it will focus on "controlling costs and optimizing structure", through refined operation to hedge against raw material price fluctuations, and actively seize the opportunities of the recovery of strategic resource prices, striving to maintain a stable growth trend in its annual performance.