Zhangyuan Tungsten’s 2021 annual report shows the company achieved an operating income of RMB 2.66 bln, an increase of 37.97% y-o-y. Net profit attributable to shareholders of listed companies was RMB 165 mln, an increase of 343.84% y-o-y.
Ganzhou Aoketai, a subordinate of Ganzhou Jiangxi, achieved operational revenue of RMB 426 mln, up by 53.38% y-o-y. Of the total, sales revenue for coated blade was RMB 195.91 mln, up 44.37% y-o-y and sales revenue of tungsten bars was RMB 195.83 mln, an increase of 107.69% y-o-y. The company had net profits of RMB 1.75 mln t in 2021, averting a downward trend of several years.
Backed by total investment of RMB 230 mln, the company is building a smart high performance tungsten powder project at its plant site for use of the new 5 ktpy ultra-fine tungsten powder project.