Zhangyuan Tungsten Industry's Net Profit Rose by More Than 20% in 2024

Recently, Zhangyuan Tungsten Industry released a report stating that the company achieved operating revenue of 3.673 billion yuan in 2024, a year-on-year increase of 8.02%; operating profit of 224 million yuan, up 27.89% year-on-year; net profit attributable to the parent company of 177 million yuan, up 23.25% year-on-year; non-GAAP net profit of 185 million yuan, up 36.41% year-on-year; and basic earnings per share of 0.15 yuan, up 25.00% year-on-year. By the end of the reporting period, total assets reached 4.95 billion yuan, a year-on-year increase of 1.53%, and equity attributable to the parent company was 2.136 billion yuan, up 4.89% year-on-year.

During the reporting period, tungsten product prices rose, and Zhangyuan Tungsten Industry adhered closely to its annual business targets, strictly maintaining safety and environmental standards. Through continuous technological innovation, the company drove business development, developed new products to expand market space, optimized customer service capabilities, and advanced digital construction to empower production and operations, maintaining steady development amid fluctuating market conditions.

According to China Tungsten Online, Zhangyuan Tungsten Industry has deeply engaged in the entire tungsten industry chain, establishing an integrated production system that spans upstream exploration, mining, and beneficiation; midstream smelting and powder production; and downstream deep processing. It is one of the few leading manufacturers in China with a complete industrial chain.

In terms of resource reserves, Zhangyuan Tungsten Industry holds eight exploration-right mining areas and six mining-right mines. Among them, the Taoxikeng Tungsten Mine, Xin’anzi Tungsten-Tin Mine, and Dayu Shilei Tungsten Mine serve as the primary operational mines, continuously supplying resources to midstream and downstream production stages. Meanwhile, the Tianjingwo Tungsten Mine, Huangzhulong Tungsten Mine, and Changliukeng Copper Mine are currently in a pre-mining phase, but the company has proactively begun formulating "green mine construction plans" to ensure rational resource development while actively pursuing an ecology-first development philosophy, laying a solid environmental foundation for future mining operations.

According to China Tungsten Intelligence, the Chinese tungsten market in 2024 exhibited a trend of "low at both ends, high in the middle," with tungsten product prices generally rising steadily and the average price of tungsten raw materials increasing by approximately 12%-15%. In 2024, the average price of 65% black tungsten concentrate was 137,000 yuan per standard ton, up 14.07% year-on-year, with a maximum annual fluctuation of 27.64%; the average price of 65% white tungsten concentrate was 135,900 yuan per standard ton, up 15.07% year-on-year, with a maximum annual fluctuation of 28.93%.

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