China Securities News
The total operating income of XTC (Xiamen Tungsten) was RMB 24.16 bln in H1 2022, and the net profits attributable to shareholders of the listed company were RMB 912 mln, up by 69.85% and 32.54% respectively. The sales of ternary materials from the company increased significantly y-o-y in H1 2022, in particular, sales of high-voltage ternary materials soared as profitability continued to grow y-o-y.
During H1 2022, the company’s tungsten and molybdenum sector improved rapidly, with the sales of major deep-processing products rising significantly. Of the total, sales of cutting tools was about 23.52 mln pieces, up 8.94% y-o-y; and sales of fine tungsten wire was about 8.7 bln meters, up 140.86% y-o-y.
The company’s tungsten, molybdenum and other non-ferrous metal businesses achieved an operating income of RMB 6.56 bln, up 28.17% y-o-y and the total profit was RMB 834 mln, up 4.16% y-o-y.